How the Plaintiff Funding Process Works

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HOW THE PLAINTIFF FUNDING PROCESS WORKS…….

If you are the plaintiff in a lawsuit or legal claim, you know it may take several months or years to settle your case. If your ability to work is hampered or your bills are unable to be paid, Plaintiff Funding might be an important option for you.

The first step in Plaintiff Funding is for the plaintiff to contact a lawsuit funding company, often at the suggestion of their attorney. Based upon that information provided, the funding company estimates the value and likelihood of an eventual settlement and offers a cash advance based upon that estimate to the plaintiff. The fee typically is a monthly charge that accrues each month the advance is outstanding. When the case settles, the advance and associated fees are paid to the funding company.

Funding advances are generally approved for about 10% of what your attorney may think your case will settle for. Therefore, most funding companies will offer pre-settlement advances in amounts between $500 and $25,000. Funding companies usually charge a fixed cost from 2% to 8% monthly, depending on the information provided on the plaintiff’s specific case. This whole process often takes between 2 and 15 business days to get your money from your initial contact.

These advances are offered as non-recourse funding, which means that the plaintiff has no obligation to repay if the lawsuit is lost. Similarly, if the ultimate settlement is smaller than anticipated, the amount that must be repaid never exceeds the amount of the plaintiff’s share of the settlement.

Pros

No upfront fees or application cost

Receive money now - before the settlement

No credit check, no employment, no payment

Pay nothing unless you win

Cons

You must have your attorney’s authorization

You must have an eligible type of case

Monthly fees are generally high due to risk

Given the fees involved in Plaintiff Funding, it is important to review and consider all other funding options before proceeding with this process. But if your case is dragging on, you are unable to work, you have reduced income, or you are incurring other expenses associated with care or disability, it may not be possible to wait until the end of the lawsuit before obtaining funds. When this is the case, contact We Buy Your Business for the fastest funding at the most competitive rates at www.WeBuyYourBusiness.com