Depending on your agreement with your attorney, you may pay them on a contingency or non-contingency basis to work your case. In the first option, lawyers typically charge between 25 and 40 percent of your settlement or winnings. This percentage may not include any expenses incurred by your attorney.
Keep in mind these fees may vary depending on your location, the attorney’s experience and type of lawsuit. Legal fees may be holding you back from filing your case. However, you should consider lawsuit financing to cover these costs.
Maybe you have thought about it, but aren’t sure it’s the best call. Want to learn why lawsuit loan funding might be your best option?
Here are the top 5 benefits why you should consider getting a lawsuit loan.
1. Pre Settlement Lawsuit Funding Is Easy to Obtain
The basic requirement to apply for this type of loan is filing a lawsuit. Once you file your case, you’ll fill out an online application with the settlement loan company you choose. Most lenders won’t run a credit check or ask for bank accounts to qualify for this funding.
These companies will contact your attorney to learn more about your case. Based on this information, the underwriting department will determine how much money you can borrow. If you apply for the Best Roundup Lawsuit Loan, you can obtain approval in as little as 24 hours.
2. You Only Need to Repay These Loans If You Win Your Case
The top benefit of these loans is you don’t have to repay them unless you win your case. Even if you win your lawsuit, you can repay it using your winnings instead of your savings.
3. Fast Funding
Depending on the settlement loan company, you may receive your funding in 48 hours or less. It takes a lot more time to obtain approval on a personal loan. Before applying for your pre-settlement loan, you should ask the company about their process and how long it will take to obtain your funds after approval.
4. Use the Funds as You Please
Let’s face it, your case can put you behind on paying basic needs. When you obtain a pre-settlement loan, you can use the funds for any purpose. You may use it to pay your medical bills or even your mortgage.
5. Lawsuit Loans Give You the Chance of Winning the Highest Monetary Relief
If you obtain a lawsuit loan, you won’t have to settle early with the other party. Pre-settlement lawsuit funding offers the financial stability you need during the negotiation process. You won’t need to rush your lawsuit and settle for a lower payout.
Should You Consider Lawsuit Financing?
Hiring a lawyer to work your case can come at a pretty penny. However, you shouldn’t let money get in the way of getting the monetary relief you deserve. Instead, you should consider lawsuit financing.
Benefits such as fast funding, only paying if you win your case, among others make lawsuit loans your best option. Keep in mind that you’ll need to file your case to qualify for a lawsuit loan.
Before applying for any financing, you should research online to find the best lawsuit loan funding. Reach out to your top choices and apply with the company that provides the best terms.
Did you find this article interesting? Check out the rest of our site for more insightful articles.