Legal funding is the mode of easy accessing to lawsuit funding or legal finance cash advances. While the lawsuit loan can be used for paying hospital bills, credit card bills, due taxes or car loan amounts, it can also be used for paying the tuition fee of your children’s school. Pre settlement funding is a form of lawsuit settlement funding that is required by a borrower prior to the settlement of case when his litigation hasn’t reached a final verdict yet. Whereas settlement loans, offer the formula of meeting out the costs of case settlements when a case has been awarded a final judgment. That means while the former aims at fulfilling the monetary requirements of a respondent, the latter targets at clearing all the dues post the settlement of a court case.
But the basic outline of lawsuit settlement loans remains the same, connoting a common purpose of bestowing the client with the money that can help him in times of distress. Since the money is offered through a proper channel of commercial litigation funding agency, it shows the involvement of many people during the loan sanctioning procedure. Can you guess who could be the key players of this funding industry? Yes, the client and lawsuit loans offering company remain at its focal point. But we should not forget other key players of this cash advance trade who are the brokers and the lawyers. Without them nothing would reach the finals stage of either loan approval or loan settlement. As the brokers are the ones who attract clients towards them and then they refer them to underwriters or funding firms. While the lawyers or legal advisors prepare a sketch of the respondent’s case in front of the litigation funding agency. This equips the financing company with a better decision making power that a loan should be offered or not.