Litigation Funding FAQs
Have a question about litigation funding or lawsuit cash advances? Take a look at some of our most frequently asked questions by our clients. Call today if you have further questions.
How does it work?
We provide funds by purchasing a small portion of the anticipated proceeds. It is not a loan, so there is no interest, no matter how long it takes for the case to be resolved. Like the claimant and the attorney, we take the risk of a successful resolution. If the case is lost, we lose our money.
What is the first step?
Simply fill out the Online Application or contact us, whichever is most convenient for you. We take it from there.
How fast do we work?
Assuming full cooperation by the attorney, we can usually have funds in the claimants hands within 24 hours from the time we receive documents from the attorney.
What are the benefits?
A lawsuit cash advance of funds lifts the financial pressure. The case does not have to be settled prematurely because a claimant cannot meet his financial needs. We enable the attorney to have the necessary time to make a successful recovery, whether by settlement or trial.
Who does our service benefit?
Persons, represented by an attorney, who have been seriously injured.
What percentage of the proceeds do we purchase?
This depends mostly upon how much money is requested, the liability of the third party and the nature of the injuries. After we evaluate the case, we will negotiate the percentage directly with you or your attorney.
Will we fund a case before a suit has been filed?
Yes. So long as there is sufficient information in the file for us to make a determination as to the approximate value of the case.
Is this a usurious transaction?
No. Because we take the risk of recovery together with the claimant and attorney, courts have held that our advance is not a loan. Therefore, our profit is not considered usurious.
Does our advance affect the attorney’s fee?
No. Our profit is figured on the gross percentage of the recovery, the same as the attorney’s fee. The attorney still receives the entire fee.
Does Fast Funds get involved in the case?
No. We do not interfere with the attorney’s handling of the case. Our only involvement is to initially review the attorney’s file so we can evaluate the claim.
Can a claimant seek an attorney’s advice?
Certainly, we encourage attorneys to explain the benefits and detriments of non- recourse financing to their clients.