Quantcast
Channel: Elite Lawyer Blog » Litigation Funding
Viewing all articles
Browse latest Browse all 9

How to Finance a Personal Injury Lawsuit

0
0

Many individuals do not have the funds necessary to pay for a lawsuit by themselves, so Lawsuit Fundinglawsuit funding helps fill in the gap. This type of funding can provide victims with the money that they need while they wait for the conclusion of their personal injury suit, which may take months or years. These funds can be used for a variety of reasons, including to retain a personal injury lawyer. Here are a few reasons to consider lawsuit funding.

You Need to Pay Your Current Expenses

Even if it is very clear that you will win the lawsuit, you still need money for your everyday expenses. You may have incurred exorbitant medical bills and may be facing harassing phone calls from creditors. Being out of work could have made you get behind on your mortgage or auto loan. In the majority of states, your personal injury lawyer is not allowed to give you a personal loan because this may create a conflict of interest. Having lawsuit funding can help you have access to funds to get by until you win your lawsuit or it settles.

You Need to Pay Attorney Fees and Legal Expenses

Your personal injury lawyer may accept your case on a contingency basis, so you may not have to pay him or her until the case concludes and you win. However, you may be required to pay other legal expenses, such as filing fees, court costs, discovery expenses, postage and fees for expert witnesses, depending on your agreement with your personal injury lawyer. These costs can add up, especially if you have not received a settlement check or award from the defendant.

You Want to Avoid Cash Advances

Financing companies may be able to provide you with a cash advance if they believe you will be successful. You may not be required to pay them back unless you win your case. However, these types of loans can correspond with astronomical interest rates.

You Realize the Drawbacks of Other Options

Other options may be available to you, but they probably come along with disadvantages. A personal loan may be available to you if you have good credit, but it can increase your debt load and decrease your credit score. You may be embarrassed to borrow from friends or families to get through this difficult time. A personal injury lawyer can objectively discuss the advantages and disadvantages of lawsuit funding with you.

If you live in Boise, Cheyenne, Chicago, Seattle, Phoenix, Los Angeles, San Francisco, Portland Me, New York, Boston or anywhere else in the United States, CALL NOW for a free initial consultation with a personal injury lawyer in your area.


Viewing all articles
Browse latest Browse all 9

Latest Images

Trending Articles





Latest Images