Funding Tips For Those Considering Lawsuit Financing and Funding
Lawsuit Funding Network - releases tips today for those
considering lawsuit funding. Lawsuit Funding Network seeks
to educate plaintiffs who are in a lawsuit and need immediate
financial relief while hopefully giving the attorney the time
to obtain the highest possible recovery for the client.
Morton Grove, IL (PRWEB) February 27, 2007 -- Lawsuit
Funding Network seeks to educate plaintiffs who are in a lawsuit
and need immediate financial relief while hopefully giving
the attorney the time to obtain the highest possible recovery
for the client.
1. Lawsuit Funding- should be a last resort- Try all other
funding options such as banks, credit cards, family friends,
because if available, funding from these sources would likely
be less, even though obtaining a non- recourse advance from
a Lawsuit Funding Source is not a loan. With a traditional
loan source, you will always have to begin making monthly
installment payments right away and if you lose your case
and receive no cash award you are still liable to repay that
loan. If you have exhausted all other funding options and
you are willing to receive an advance now in exchange for
a portion of the proceeds from your lawsuit only than should
you consider Lawsuit Funding.
2. Speak to your attorney -Before applying advise your attorney
of your financial situation and your need for lawsuit funding.
In order for your case to be considered for Lawsuit Funding
certain information which usually your attorney only has will
need to be released to the Lawsuit Funding Company. Information
usually requested other than a copy of the complaint, and
court rulings would be anything which supports your claims
such as medical, surgical reports, expert reports, incident
reports, witness statements etc. If your attorney is advised
by you in advance they are more likely to provide this information
promptly when it is requested.
3. When looking for lawsuit companies watch out for any lawsuit
funding company which asks for money upfront and or wants
to offer you something that seems too good to be true. Since
you're the one in need you should not have to pay any money
upfront to have your case evaluated. If someone is insisting
for money upfront they are probably more concerned about lining
their own pockets and not your immediate needs.
4.When you decide to apply consider only using one source-
Applying with more than one company can be time consuming
for you and your attorney. When you apply for lawsuit funding
your attorney is subsequently contacted by each and every
funding company you have applied with all of which will be
requesting basically the same information. This can create
a tremendous burden on the law office that is representing
you. If you apply with one source such as Lawsuit Funding
Network which works with a network of funders your attorney
will only need to provide the information once. Lawsuit Funding
Network in return streamlines the funding process by getting
that information out to multiple sources giving you the best
chance of getting funded with the most reasonable terms.
5. Explain your needs to your funding consultant- It is important
that you let your consultant know what your immediate financial
needs are. If a consultant knows truly what you need or are
going to need. Your initial funding could be pre approved
for additional funds if your case qualifies which would streamline
any additional funding requests. Often times a plaintiff who
receives an initial non-recourse advance often times needs
additional funding. If you are unaware of the investor's commitment
to you in advance you may have to start the whole application
process all over again if you need more money.
6. When you need to apply call 1-866-270-1466 or online at
Lawsuit Funding Network