In what situations can Legal Finance be availed?
Legal finance perhaps comes as one of the most easy options of acquiring cash advance which target at lawsuit funding requirements of the claimant who has either filed his case or is about to file it in the court. In United States, this form of legal funding is quite common and offered in situations where a plaintiff needs hard cash money to cover up for his financial liabilities that might place him under heavy mental and physical pressure and seriously affect his case.
What should be nature of your litigation?
However, these loans cannot be acquired in any and every legal case. Also called lawsuit loans they promise to meet out all types of litigation costs at the expense of the cash advance received. So, shall we not have a look at those eligible cases which are entitled for a lawsuit settlement loan amount?
The widespread usage of these pre settlement loans is prevalent in settlement or proceedings of several cases which may include personal injury cases, structured settlement cases, violation of civil right cases, worker compensation cases or business-related disputes. Though the final decision lays in the hands of lawsuit settlement loans provider who depending on your probability of winning the case may decide whether to proffer you with the cash advance for your lawsuit settlement or not.
Moreover, the lawsuit loan amount offered by the commercial litigation funding agency may be different from one case to another. However, on an average, the lawsuit settlement funding loan amount varies between 10-15 percent of the value of the expected judgment. This is rightly done by the funding agency that have all the authority to ensure that they are on low risk side; and account for those conditions in which their borrower may lose his case and therefore the they automatically lose whole of their settlement loan amount.