Many people who have filed a lawsuit do not realize how long the process takes. Most insurance companies count on litigation to wear down the injured party not only mentally but financially too. Pre settlement funding is a way to avoid putting a strain on your budget. Litigation funding is available in certain instances to help you pay for everyday living expenses while your attorney proceeds with your case. Have you filed a lawsuit or are you considering filing a lawsuit? You need this information. What does pre settlement funding mean? It simply means that you get the money you need to pay medical expenses, monthly bills, attorney fees and other expenses before your settlement is reached. Litigation funding is available for nearly any type of lawsuit, including wrongful death, medical malpractice and personal injury and workers’ compensation. Many people believe that litigation financing is a loan, however this is not the case. The funding company essentially buys a portion of the proceeds you will get upon settlement, depending upon the outcome of your case. Basically, you receive cash now and you repay the advance when your case settles. Lawsuit funding is commonly used to cover essential living expenses and medical costs. More and more companies are offering litigation financing. Getting the money you need from these companies is fairly simple and straightforward. Most offer a free consultation, and then follow up with your attorney. The company then studies your case in depth and will notify you quickly of their decision on whether you are eligible for lawsuit funding. Usually, there is no employment verification or credit check required when applying for litigation financing. The litigation process is a time consuming process. This is why litigation funding is made available for people who don’t have the funds available to sustain their normal lives while their case settles. This helps plaintiffs avoid having to borrow money from relatives or sell their valuables to pay their bills and expenses. Litigation financing helps individuals avoid having to put their life on hold in order to pursue their case. Instead of sacrificing financial responsibilities that are necessary for livelihood, plaintiffs can avoid the stress and worry and focus on their recovery and outcome of their trial. Pre settlement funding is an option you should seriously consider if you feel you aren’t financially able to withstand the lengthy litigation process. If you do file a lawsuit and find that your funds are running low, consider the option of litigation funding. It can help you stay financially strong during the time between your accident and the settlement date. Joel McLaughlin Read the original article
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