Before anything else, let me establish the fact that when you say lawsuit loans, this does not literally mean that it is a "loan". Instead, this is treated as a cash advance which is based on the merits of a lawsuit which is providing the plaintiff a sufficient amount of funding so that the plaintiff can reach the conclusion of the case where they will then receive their share of the verdict. Litigation finance companies compared to advancing money to a plaintiff in loan form, invest in the lawsuit itself. The plaintiffs prior credits or bankruptcy status will not be the foundation where lawsuit firms will base on. There are other names which are called instead for this kind of funding. Some of these names are litigation funding, litigation finance, litigation loan, lawsuit funding, lawsuit finance, lawsuit cash advance, case loan, case cash advance, plaintiff cash advance, litigant funding, pre-settlement loan, pre-settlement lending, pre-settlement cash advance and etc.
Always remember that lawsuit loans are not and should not be treated as substitutes for your settlement. This, instead, should be nothing but a tool which will help you stay on track while your attorney does all the fighting in your place. Do not be one of those people that applies for litigation financing, who believes that a lawsuit loan can be a some kind of alternate route to getting their settlement money. Let us say you win the case, then what? The amount in which you owe a certain lending company will vary based on the amount of time there is between the date of your advance and the date when you receive the settlement money. Look up Cash 4 Cases online for assistance.
You should exhaust other means of funding first. Lawsuit financing are advancing roughly about 10% of the estimated settlement amount. To learn more about lawsuit loans, the internet is always available for you to search.
It is vital that as a plaintiff, you understand how lawsuit loans work and you know the process of securing litigation first before applying. If you know these, then you will also know what to expect and when you do decide to go through with a lawsuit loan then you should then understand that this is truly a lifesaver in litigation. And if you do not understand the litigation financing of lawsuit loans then be prepare to be disappointed in the end of it all. Keep this in mind when looking for lawsuit settlement funding options.
Check out http://en.wikipedia.org/wiki/Legal_financing_industry for more information about the legal financing industry.