When involved in a legal battle, it might become necessary to apply for litigation funding, especially if the case is dragging on and you find yourself unable to afford it. In many cases, sifting through the various lawsuit funding solutions can be exhausting, as every lender will offer something different. Make sure that you are aware of exactly what you are getting yourself into before signing any agreement to avoid potential financial problems from your legal matter.
Money Issues
Of course, the most important aspect of your legal funding is money, so ask about the cost, the payments that you will have to make, and the interest charged. Even if you are only obtaining a small advance, interest and fees can can increase over time, which might make it a good idea to turn down the loan offer or shop for a lower rate.. It is always a good idea to Only deal with companies that provide this information in plain English on your contract and are members of the American Legal Finance Association.
What Happens If You Lose
Those seeking legal financing usually plan to pay their legal fees with their settlement money. Most legal funding companies do not charge you if you lose the case, but you should be aware of the exact provisions in your contract.. In the end, it is wise to search for lawsuit funding solutions that will keep charges minimal if you happen to lose your case.
What Happens If You Win
Winning your lawsuit means that you will have money to repay your advance, but you should make note of how long you have to make this payment. If it takes a considerable amount of time for you to receive your money, you will end up paying more in interest. Make sure that you have a clear understanding of how much this advance could cost you, since there is no way to know how long the case will take.
Resolution Funding Group offers a number of different options for those in need of financial solutions before or after their settlement hearings. For more information or to apply for an advance, visit the company’s website at.
