Litigation Financing 101: Pre-Settlement Funding and Attorney Funding
Pre-settlement funding for a plaintiff is non-recourse. With this type of financing, plaintiffs only pay back the funding company if they recover money in a settlement or other favorable resolution of the case. Many people use this type of cash funding when they have suffered a medical emergency. For example, if plaintiffs are injured and need surgery funding while the lawsuit is ongoing, they can use the pre-settlement funding to secure access to money for their medical operation before their legal case is settled or otherwise resolved.
Pre-settlement funding helps plaintiffs pursue the full value of their claims in a lawsuit. If you have a lawsuit pending, and you know that you need money so that you can pay bills, undergo surgery, or receive other vital treatments, you may feel pressure to quickly settle your case to receive a payment. Pre-settlement funding reduces that time pressure to resolve the case too soon. The extra financial cushion gives you the ability to settle your case at the right time or go to trial so that you receive the amount you deserve.
Attorney funding is designed for lawyers or law firms, rather than for plaintiffs. It refers to a wide variety of types of lawyer-oriented legal financing options. Lawsuits can take years to make their way through the courts. This is especially true for “big-money” cases. If a case takes years to conclude, law firms may not have sufficient cash flow for their firms to stay afloat. Attorney funding provides a cash advance that can help pay a firm’s business operating costs. The attorney funding advance is often based on the firm’s book of business. An attorney can secure access to funding right now that will be paid off in the future with successful results in their ongoing lawsuits.
LawCash provides both pre-settlement funding and attorney funding. Whether you are an attorney, law firm, or plaintiff in need of funding, make sure to contact LawCash. For more information about receiving this funding, call 1-800-LAW-CASH or apply here.