123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Legal >> View Article

Plaintiff Funding

Profile Picture
By Author: Wensley McKenney
Total Articles: 5
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Plaintiff Funding is a controversial new finance area in which a plaintiff secures funding based strictly on the potential financial recovery from his or her pending legal claim. Similar to securing a mortgage against your home, a plaintiff can receive a cash advance against the potential future proceeds from a legal claim. There are no income or employment verifications and if the legal claim has no financial recovery, then the plaintiff is NOT obligated to repay the money. Certain companies like Global Financial (http://www.glofin.com) offer low cost cash advances to victims of personal injury & work related injuries. The cash advances can be obtained quickly and with very little personal credit, however, there are those that oppose this type of financing. Some lawyers point out that the fees are high for their clients and that other options like dissability insurance or goverment programs may be more beneficial and less costly. On the other hand, many Law Firms have used this type of financing to market their services to potential new clients and they realize that offering ...
... immediate cash flow can help their clients pay bills until they can heal their wounds and get back to work. It is clear that large insurance carriers are content to wait out the financially desperate plaintiffs that are desperate to settle their cases. Plaintiff Funding can be used for many thing, many of which may directly increase the value of the legal claim. For instance, if a plaintiff does not have healthcare insurance but needs surgery, they may apply for plaintiff funding which can pay for their medical procedure and significantly increase the value of the legal claim. Even though the plaintiff will pay fees for the funding, the increased value of the legal claim will far outweigh the fees charged. Regardless of your opinion of Plaintiff Funding, it is a new specialty finance area that is here to stay and like all other types of financial transactions it may have benefits or negative aspects depending on the terms and parties to the transaction. About The Author
Wensley McKenney is a graduate of Tulane University and has 15 years experience in specialty finance and personal injury law. glofin.com wensley@glofin.com

Total Views: 325Word Count: 372See All articles From Author

Add Comment

Legal Articles

1. Coping With Divorce: How Your Lawyer Can Support You Emotionally
Author: Singapore Sole Parent

2. R2 Certification: Leading The Way Toward Responsible And Sustainable E-waste Recycling
Author: URS Certification

3. Trusted Cryptocurrency Law Firm In India: Expert Cryptocurrency Attorneys
Author: SMV CHAMBERS

4. The Role Of A Lawyer In Child Access And Visitation Rights
Author: Singapore Sole Parent

5. Pre-settlement Funding In 2025: A Smart Financial Lifeline For Plaintiffs
Author: Gain Servicing

6. Parenting After Divorce: Legal And Emotional Guidance For Single Parents
Author: Singapore Sole Parent

7. Family Law Attorney In Virginia Beach – Guiding You Through Life’s Toughest Moments
Author: family lawyer

8. Understanding “what Is Bankruptcy”: Definition, Types & Things To Know
Author: RecoveryLawGroup

9. Role Of A Divorce Lawyer In Child Custody And Support Cases
Author: Singapore Sole Parent

10. Can You Represent Yourself Instead Of Hiring A Divorce Lawyer In Singapore?
Author: Singapore Sole Parent

11. Understanding Debt Negotiation And Consumer Rights With Jpmorgan Chase & Co
Author: Matt Williams

12. Motorcycle Lawyer In Lubbock: Protecting Your Rights On The Road
Author: Mark Taylor

13. Motorcycle Lawyer Waco: Protecting Your Rights On The Road
Author: Mark Taylor

14. Motorcycle Lawyer Austin: Your Trusted Advocate On Two Wheels
Author: Mark Taylor

15. Inside Deportation Defense: Miami Immigration Attorneys At Work
Author: Tim B Scott

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: