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What are Pre Settlement Funding for? – Know the Basics

The lawsuit cash advances on pending lawsuits are options that are available to plaintiffs who are involved in a litigation. Plaintiffs do pay their attorneys on a contingency fee basis and in the event that their case qualifying, they will be given a lawsuit loan on their pending lawsuit. These loans are as well referred to as pre settlement funding.

Generally speaking, there has been some deal of misconceptions when it comes to lawsuit cash advances. Check this guide out for some of the facts that you need to know of when it comes to the whole idea and concept, and how it operates, lawsuit cash advances or pre settlement funding.

In a broader sense, when we talk of pre settlement funding or lawsuit cash advances, these are generally cash advances that are given to plaintiffs against an anticipated cash award or legal fee. They can be referred to as pre settlement funding, lawsuit loans and lawsuit lending and they all are cash advances on some pending litigation.

The one thing that should be as clear, one that some have mistaken, is that these are not to be seen as traditional loans and as such the names given them, lawsuit funding, lawsuit lending, or pre settlement funding and this should be making it as clear that they are mere cash advances against a pending lawsuit. This is one point that is of a lot of significance to know of when it comes to the lawsuit funding needs even looking at the fact that they operate differently from the traditional loans, having no upfront fees, no monthly payments and as well they will not accrue points. The application to the lawsuit funding is free and you may only pay some fee that may be associated with the advance you look for like the origination fee or underwriting fee. You are not obliged to pay the advance back in the event that you lose your case. As such, the lawsuit lending loans are considered to be non recourse loans looking at the fact that the plaintiff to whom they are advanced will be not under any obligation under contract to repay the funding company the amount advanced in the event that they lose the case or where the proceeds are less than what there is in the funding contract or agreement.

Actually the pre settlement funding alternative is one that would be a sure alternative for those whose cases may take some few months or where the settlements are likely to be delayed. In the event that you are the plaintiff and have looked at all options there are for the case at hand to fund it, you may be served well by the cash advance for pending lawsuits to help you out.

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