What is a Lawsuit Cash Advance?
How It Helps
You may be able to resolve some claims within a reasonable period of time, but others could stretch out months or even years. The courts may delay trial dates due to the number of lawsuits that are filed or because both sides were unable to reach an agreement. An insurance company may also try to deny your claim.
Financial problems in these circumstances can become serious very quickly. Families may be unable to pay for medical insurance and could face vehicle repossession or a home foreclosure. Funds for transportation and groceries eventually dry up as well.
Families in need of financial assistance should not settle for a lower settlement amount or consider bankruptcy. The Legal Funding Group can provide you with a better alternative with a lawsuit cash advance.
How to Apply for a Lawsuit Cash Advance
- A claim was filed with the insurer.
- The plaintiff’s demands were submitted to the insurer by an attorney.
- The plaintiff’s bills and medical records can be appropriately evaluated.
- The case is in a pre-litigation stage. A complaint hasn’t been filed against the insurer.
- The case is still in the early steps of litigation and discovery.
- The lawsuit settled before going to trial, but the insurer hasn’t paid on time.
- The case went to trial, and the verdict is in the victim’s favor, but the insurer hasn’t paid the claim yet.
- Litigation hasn’t started yet, but medical treatment and property damage repairs are finished.
Our Lawsuit Cash Advance Process
Approval: Prior to approval, we will communicate with your lawyer, and he or she will send over the documents the underwriter needs as part of the evaluation process.
Cash Advance: Our staff will formulate a contract after your application is approved. Your cash advance will then be provided to you against your projected settlement.
Does My Case Qualify for a Lawsuit Cash Advance?
Our case managers review the following factors:
Damages: To receive a cash advance on a pending settlement, you must have sustained some type of economic or bodily damage. These damages can include physical injuries such as whiplash or bone fractures or economic damages, including lost wages. We may ask for a plaintiff’s medical records to get a general idea of the type of treatment you have had and/or any medical liens included as part of their treatment costs.
Insurance: We will often assume that your maximum case value is the sum of relevant insurance coverage. Our underwriters will ask your attorney if you have UIM coverage if you are in an automobile accident, as well as the policy limits of the defendant’s insurance coverage.
Liability: The defendant must have been liable and responsible for any injuries you sustained. To win a settlement, you must be able to prove that they were at fault by showing that their negligence caused you to become injured. The liability is clear if the defendant rear-ended your car, thus increasing your likelihood of being approved for a cash advance. A police report determines who is at fault in most traffic-related accidents, but police officers aren’t always correct in their assumptions. For slip and fall or premises liability cases, a witness statement or an incident report can establish a defendant’s liability.
The following types of cases qualify for cash advances:
If you already have a documented settlement offer of your projected settlement amount, it shows us the value of your case and increases your odds of receiving post-settlement funding. Bear in mind that injury lawsuits in some states do not qualify for post-settlement funding.
How Lawsuit Cash Advances Can Be Used
A lawsuit cash advance from The Legal Funding Group will help you pay for a variety of different expenses, including:
- Mortgage or rent
- Medical bills
- Rehabilitation expenses
- Loan payments
- Utility expenses
- Groceries and other household necessities
- Vehicle bills and repairs
- Everyday expenses for your children and family
It can take years to receive a settlement, and personal loans can cost hundreds of thousands of dollars in interest the longer you wait for your case to settle.