The Benefits of Lawsuit Funding in Personal Injury Cases

Personal injury cases can often be lengthy and expensive affairs. Even when a victim has a strong case and a good chance of receiving a settlement or judgment in their favor, they may still struggle to pay for medical bills, lost income, and other expenses in the meantime. This is where lawsuit funding can be a valuable resource.

Lawsuit funding, also known as settlement funding or legal funding, is a cash advance provided to plaintiffs in exchange for a portion of their potential settlement or judgment. This advance can help cover living expenses, medical bills, and other costs while the case is ongoing, allowing plaintiffs to focus on their recovery and their legal battle without the added stress of financial strain.

There are several key benefits to lawsuit funding in personal injury cases:

• No risk or obligation: Unlike a loan, lawsuit funding is non-recourse, which means that if the case is lost or the settlement/judgment is lower than anticipated, the plaintiff is not required to repay the advance. This removes the risk of taking on debt and allows plaintiffs to pursue their cases without worrying about the added financial burden.
• Access to better legal representation: With the financial backing of lawsuit funding, plaintiffs may be able to afford better legal representation, which can increase their chances of success in the case.
• More time to negotiate a fair settlement: If a plaintiff is struggling financially, they may be more inclined to accept a lower settlement offer just to put an end to the case and receive some much-needed cash. With lawsuit funding, plaintiffs can afford to wait for a more reasonable settlement offer, knowing that they have the financial means to do so.
• Preservation of credit score: Because lawsuit funding is not a loan, it does not appear on a plaintiff’s credit report and does not impact their credit score.
• Peace of mind: Perhaps most importantly, lawsuit funding provides plaintiffs with peace of mind during an already stressful and uncertain time. With financial support, they can focus on their recovery and their legal case without worrying about how they will pay their bills.

However, it is important to keep in mind that lawsuit funding is not for everyone. It is typically only available for cases with a high likelihood of success, such as those involving clear liability and significant damages. Additionally, lawsuit funding companies will often conduct a thorough review of the case before providing funding, which can take time and may require the assistance of an attorney.

Another factor to consider is the cost of lawsuit funding. Because the funding company takes on the risk of not being repaid if the case is lost, they typically charge a fee for their services, which can range from 15% to 50% of the amount advanced. It is important to carefully review the terms and fees associated with lawsuit funding before deciding whether it is the right choice for you.

Despite these potential drawbacks, lawsuit funding can be a valuable tool for plaintiffs in personal injury cases. It can provide the financial support needed to cover expenses and pursue a fair settlement or judgment, and it can offer peace of mind during a difficult and uncertain time.

The benefits of lawsuit funding in personal injury cases include risk-free financial support, access to better legal representation, more time to negotiate a fair settlement, preservation of credit score, and peace of mind. If you are involved in a personal injury case and are struggling to make ends meet while awaiting a settlement or judgment, consider exploring your options for lawsuit funding. Just be sure to carefully review the terms and fees associated with the funding and to only work with reputable funding companies.

Fast Funds is a lawsuit funding company that specializes in providing financial support to plaintiffs in personal injury cases. Our team understands the challenges that plaintiffs face when they are involved in a lawsuit, including the high costs of medical bills and other expenses, the potential loss of income, and the stress and uncertainty of the legal process.

At Fast Funds, we offer pre-settlement funding, which is a type of lawsuit funding that provides a cash advance to plaintiffs in exchange for a portion of their potential settlement or judgment. This advance can help cover living expenses, medical bills, and other costs while the case is ongoing, allowing plaintiffs to focus on their recovery and their legal battle without the added stress of financial strain.

One of the benefits of working with Fast Funds is that we offer a fast and easy application process. Our team can review your case and provide an advance within as little as 24 hours, which can be a lifeline for plaintiffs who are struggling to make ends meet.

Additionally, we offer competitive rates and flexible repayment options, which can help ensure that our clients receive the financial support they need without incurring undue debt. And because our funding is non-recourse, plaintiffs are not required to repay the advance if the case is lost or the settlement/judgment is lower than anticipated.

Fast Funds can help plaintiffs in personal injury cases by providing pre-settlement funding that covers living expenses and other costs while the case is ongoing. Our fast and easy application process, competitive rates, and flexible repayment options make us a reliable and trustworthy partner for plaintiffs who need financial support during a challenging time.