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Why Does Lawsuit Funding Exist? Why Do We Need It?

Going to court can be expensive. There are a myriad of reasons that a settlement can come with a hefty price tag. Lawyers representing claimants can employ a number of paper-pushing and delay tactics to make plaintiffs run out of money before they can get the settlement they deserve.

 

For example, a plaintiff in a malpractice settlement can’t always continue to pay for their increasing legal costs or external costs, like medical bills, that he or she is facing. Frequently, people give up their lawsuit, or take a minimal settlement because they don’t have any alternatives. This is why legal funding exists — to help support plaintiffs who cannot sustain both the growing legal costs and their costs of living at the same time.

A settlement loan is a more feasible than opening a lemonade stand to cover legal fees and living expenses. CC: Larry W. Lo.

 

Giving Your Case The Best Chance

 

Lawsuit funding is relatively new industry. Before 1997, plaintiffs used credit cards and personal loans to cover legals costs. However, many banks would not and still won’t issue loans for lawsuits as the risk is too great. Also, loans from banks need to be paid back regardless of the outcome of the claim.

 

Increase Your Ability to Stay in the Fight

 

Lawsuit funding allows you to get the support you need to keep your lawyers in the fight, and allows you to hold out for either a fair settlement, or win your lawsuit. While the money you get from a settlement loan could go directly to your lawyer, 85% of the money exchanged in lawsuit loans go to home and car payments, grocery bills, gas, and other normal expenses that make living possible while plaintiffs await their lawsuit win.

 

Don’t give up the fight! If you’re about to undertake a lawsuit for damages, get the best lawyer money can buy, and make sure that you contact us to get the lawsuit loan you might need to give your case the best possible chance.

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