Quick Cash Advance For Personal Injury Litigants

By Author: Larry Herscu
Total Articles: 6
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Rules prohibit your personal injury lawyer from providing you with a cash advance because there could be a conflict of interest. However, they may be able to advise you with respect to your choices of lawsuit funding companies that can provide you with a quick cash advance. These are non-recourse loans that you need not repay until you obtain a settlement.

Lawsuit loans can be very helpful for personal injury litigants that are waiting for the settlement of their case. In fact, it is not a conventional loan, but a pre-settlement, non-recourse advance. These settlement loans involve an arrangement whereby the plaintiff is not required to pay a penny back to the lender if they lose their case. If they win, they have to pay back the loan with interest, as well as an administration fee, to the company that provided the loan.

Litigants can gain advantages when availing themselves of this kind of funding. It holds no risk to the litigants. They are not responsible to pay anything back to the lender outside the limits of the litigant's recovery. Should the final settlement be below the amount of money advanced, or ...
... even if the defendant is eventually victorious, the litigant won’t be held responsible for repayment.

set out by applicable law societies prohibit your personal injury lawyer from providing you with a cash advance because there could be a conflict of interest. A lawyer may accept a contingency fee for the lawsuit, but cannot offer cash support to their clients. However, a lawyer help explain the various options available to plaintiffs for cash advances. In the event a plaintiff is finding it hard to provide for their day to day expenses, they may request their lawyer to help them once they find lawsuit funding.

A lawsuit funding company will discuss the merits of a case with the applicable lawyer. If the lawyer and the plaintiff provide all the relevant information about the case, and the case has merit, there is a very good chance the financing company will advance the loan. Once the loan is approved, your lawyer will be asked to be involved in reviewing the financing documentation. When a settlement is obtained, the lawyer will arrange to make all necessary payments to the funding company.

The application process for a lawsuit cash advance is simple. An application will usually be processed within 24 hours. The financing company will then seek any additional information from the applicant, if required, and then talk to their lawyer to discuss how the case may play out in court. If the company feels that the court may award a favourable settlement, they may release the loan.

The client may often opt for a lump sum amount or request monthly payments. These loans are structured so that they are not paid back until your case is won or a settlement is reached. For someone who has been forced out of employment, a cash may be urgently required. An advance may help plaintiffs immediately take care of essential expenses. It also enables them to resist the pressure from defendants to accept an out-of-court settlement which may be quite a bit less than a court may award.

For law suit loans, contact a company that has a track record of providing cash advances on easy terms. Discuss it with your lawyer, or someone that has gone through a similar situation in the recent past. for some useful advice.

The author of this article is associated with Easy Legal Finance Inc., which provides litigation loans. They may be willing to discuss your case with your personal injury lawyer Toronto and release a cash advance.