How Legal Funding Can Benefit Your Case
When do you need legal funding?
Legal funding is mainly for folks headed into or struggling through, a lawsuit. If you have already begun legal proceedings and you are short on cash, be sure to talk with your attorney about legal funding. It is important to have someone familiar with the process to assist in this matter because there are some folks who are not eligible for funding based on the circumstances of their case. Your lawyer will be able to advise you accordingly.
If you have been in an accident, be it a personal injury that was not your fault, a car accident you didn’t cause, or being injured on the job, you may qualify for legal funding. There are other cases, besides the aforementioned, that will be approved. It is on a case by case basis and, because this funding does not affect your credit score, there is no harm in applying and seeing if you might be awarded funding. You also are not affected by accepting the funding should it be offered.
Legal Funding vs. Personal Loan
The biggest difference between legal funding and a personal loan, other than applying for this funding, and then receiving it does not affect your credit score, is that personal loans charge interest and you have to pay them back regardless of if you win your case or not. If you do win your case and you are awarded monetary compensations, you will have to pay back your legal funding out of this award. If you do not win your case, you do not have to pay back the loan.
Personal loans also charge interest regardless of whether you win your case or not. With legal funding, fees, interest and principal are only paid back by the borrower if the case is won and, by including your lawyer in the conversations about legal funding, they can be sure to fight to get you your settlement plus whatever you might owe for your legal funding. This way, your quality of life does not need to decrease, and you do not need to suffer unnecessarily.
Who Gets Legal Funding
Most people who are the injured party can get legal funding. That is another difference between the personal loan and the legal funding; legal funding can be discriminatory. They do, however, oft times have lower rates and lesser fees so that when it comes time to repay them, should you win your case and be awarded funds, you will get to keep more than you would from a traditional loan.
We cover many different types of cases, including but not limited to: Several types of auto accidents, labor law infractions, medical device malfunctions, personal injuries, product liability and recalls, issues with prescription drugs, and many others. Contact a customer service representative today to see if your case qualifies!
What Will Legal Funding Cover
Legal funding works essentially the same way as a traditional loan otherwise would. You are offered a lump sum of cash in a certain amount to help you pay for medical bills, groceries, legal defense, the electric bill, cable, mortgage, and whatever other regular monthly bills you may have.
In addition to these funds, you may add your regular activities. If you and your family go to the movies every Friday night but you are not working now because of your accident and funds are tight, add in the regular monthly cost of your movie going. If you have a date night once a month with your spouse and your regular paycheck funded that meal out, add it to the amount you apply for. The biggest thing is that you do not change your life and the things that are normal for you during this time because of something that was outside of your control.
When you are in an accident and are unable to work, you realize how quickly your extra activities (eating out, movies, weekly trips to the golf course or gun range) can cost. The expenses pile up quickly and you should not have to compromise your lifestyle because you got hit, or you got hurt, or you were injured and can’t work, or you now need legal counsel. If you needed to go to the hospital for your injuries, the rising costs of health care alone are enough to sink people. Don’t let this happen to you. Apply for legal funding and let us help keep you afloat.
How Do I Apply
If you wish to apply for legal funding, simply click this link. We can help you through the application processes and are here to answer any questions you may have as you go through this process. Call our customer service to talk to a representative who can answer all of your questions. They are familiar with what kinds of cases are accepted and can give you a general idea of what you might be awarded.
Remember: Funding is not limited based on your income. It is based on your regular monthly spending. If you are able to produce statements or receipts showing your normal monthly spending, we are able to accept it as a form of proof for maintaining your lifestyle. You should not have to compromise the things you enjoy doing because of someone else’s negligence.
In addition to living expenses, we can compensate for lawyer’s fees, repair bills, medical bills, monthly bills such as cell phones, monthly subscriptions, home cleaning services, anything you do or have done on a regular basis. Many folks have three months of bills in savings, but legal proceedings can take years. Many people do not have any savings to speak of and cannot afford to be out of work or have to pay for a car or an ambulance ride at all. If you are falling short before your case even sees legal action, give us a call and we will do our best to figure out the best path for you.
