Things To Consider When Selecting A Lawsuit Funding Company

For most individuals who are awaiting either settlements in their personal injury cases or decisions in their court proceedings, selecting a lawsuit funding company will be one of the most important decisions made during a time of such uncertainty. When people seek to obtain Florida lawsuit loans, which are not really "loans" in the traditional sense, they want to know that they are making a proper and beneficial choice when selecting the company that will provide them with the funds necessary to move forward with their daily living. That being the case, personal injury litigants are advised to do thorough research into any company they may be considering to provide them with funding.

Factors for Consideration

First and foremost, an injured party will likely want to ensure that the chosen lawsuit funding company will be able to provide him or her with the money that is needed, when it is needed. That being the case, it is important for individuals to look into the company's funding processes. Does the company distribute its cases out to other companies for funding (much like a broker would), or do they use their own in-house funds to assist their customers?

Additionally, injury victims who are considering Florida lawsuit loans should seek assistance from a company that will not attempt to influence the handling of a case. Individuals are encouraged to look into whether or not the company has any type of relationship or financial interest associated with any of the defendants in the case. Such conflicts can be quite problematic in the long-run, especially if the defendant files a counterclaim.

What Should You Ask Prior to Entering into an Agreement With a Lawsuit Funding Company?

One of the first things about which an injured individual should ask concerns application fees. Does the company require payment of an application fee even if it ultimately decides not to offer you funding for your lawsuit? Additionally, with regard to fees, an inquiry should be made into whether or not there is an origination fee, monthly maintenance fee or any other type of fee related to the funding.

Another important question that should be asked concerns what will happen if the case is lost. Some lawsuit funding companies note that they only recover funds provided to the injured party if that party actually wins the lawsuit; however, there are companies out there that will expect a litigant to repay the money advanced, even if he or she loses the case. Accordingly, those seeking lawsuit funding should be sure to pay close attention to both the large and fine print of the agreement prior to signing.

On the other hand, it is also important for a litigant to know and understand what will happen in the event the case is won. To be clear, the funding company will recover their funds if the case is won. But it is crucial that injured parties understand exactly how much the company will get if they recover monetary compensation.

If you approach a company that is unwilling or hesitant to provide you with answers to your inquiries, you are encouraged to think long and hard before entering into any type of agreement with them. If you are in need of lawsuit funding and would like to inquire about Florida lawsuit loans or, more appropriately stated, cash advances, contact Injury Funds Now by calling the Injury Advance Hotline at 1-866-68-FUNDS(38637) today.

*DISCLAIMER: The term "loan" or "loans," where used to describe lawsuit funding is not an accurate legal or financial definition of the transaction. IT IS NOT A LOAN. The transaction is a non-recourse purchase of a portion of the proceeds of a potential future case award or settlement. A loan is a transaction that always requires repayment. Our lawsuit funding only requires repayment if the plaintiff receives a favorable recovery. If the plaintiff loses their case, they do not repay anything.