A relatively new source of financing is now available for both individuals and business owners. It is called lawsuit financing, often referred to as lawsuit loans or lawsuit funding. But these are not loans because the money does not have to be paid back unless the case is won.
Lawsuit financing (loans) help clients who are having financial difficulties. Lawsuit funders do not require credit checks, monthly payments, notes, or any other security.
Frequently, claimants have missed work or lost their job and can no longer meet their rent or automobile payments. In the past, these claimants have needed to accept lesser settlement amounts due to pressing financial difficulties. Now, clients can sustain their personal lives and give the attorney the necessary time to achieve the full value of the case.
Often times, individual claimants and commercial litigants require financial loan assistance prior to settlement or judgment. Types of cases that qualify are:
- Personal Injury: Automobile Accidents, Any Type
- Malpractice: Medical-Legal, Accounting, Construction,
- Wrongful Termination
- Harassment: Sexual/Rape, Any Type
- And much more
There are a handful of companies that provide lawsuit funding. For more information on these lawsuit loan companies please visit http://www.fredcoutts.com/indexlawsuit.htm. Each company provides funding that is specific to their criteria. All lawsuit funding companies will provide funding for personal injury lawsuits. But there are only a couple that will fund commercial and other non- personal injury lawsuit cases.
Rates will vary depending upon the risk. Lawsuit funding companies will generally finance up to 10-15% of the potential settlement value. For example, if the case has a potential value of $100,000, you can expect a funding offer of $10,000 to $15,000. Lawsuit funding companies carefully analyze the cases they choose to fund. They must like the lawyer as well as the potential settlement value.
Lawsuit funding is available in most states and can be a very beneficial source of funds.
For more information please contact the author Fred Coutts at http://www.fredcoutts.com/indexlawsuit.htm.
About The Author
Fred Coutts,CPA, CMA. Since 1980, Fred has been crafting powerful cash flow solutions for businesses and individuals alike, from entreptreneurs to "Fortune 500" companies. He has built a solid foundation of financial and operational experience through many executive roles, including those as CFO and Controller. Fred is well versed and experienced in finance, accounting, and business operations.
Over the years Fred has developed relationships with funding connections nationwide, both traditional and non-traditional sources to help you meet your cash flow needs.