Applicants want many questions answered, but high on the list is the cost of settlement funding. It should come as little surprise that no single answer to this question exists.
Costs for your settlement loan will vary, depending on the amount of the loan under consideration, the issues in the case that add to its complexity, in what stage in the litigation-process the case happens to be at the time the applicant requests the lawsuit loan, your chances of success in obtaining recovery on your claim, and when the case was filed. Further details in your case will be discussed with both you and your attorney once you submit your application.
Minimization of risk will be high on the lawsuit loan funder's mind in assessing your case, as is true in all such ventures that are speculative in nature. Another impediment to funding occurs when the applicant fails to identify the fact that previous settlement loans have been obtained. Previous settlement funding in a specific case is another factor that will have an effect on your ability to obtain a lawsuit loan.
Frequently, both applicants and attorneys want to know how settlement funding will affect the judgment obtained. Many possibilities come to mind, and we will discuss the most likely scenarios.
Once the settlement loan is provided, your case may settle for more than expected. This result would produce both a larger award for the plaintiff and, in most instances, a higher fee for the attorney.
If you have obtained settlement funding and your case settles for exactly what you expected, neither your recovery nor the attorney's fee will be affected. Your ability to obtain a settlement loan is that you are able see the claim through to completion, and the recovery is likely to be larger than may have otherwise been obtained if limited finances had forced you to settle prematurely.
If you have obtained a lawsuit loan and you recover less than anticipated, you, as well as all involved parties, will likely receive less than you may have otherwise. It is important to realize, however, that it is unlikely that the defendant would have offered as much as you ultimately recovered.
If you are a plaintiff who obtains settlement funding and you obtain no recovery, you win! This is a non-recourse instrument, meaning that you only repay it if you obtain a recovery. - 30462
Costs for your settlement loan will vary, depending on the amount of the loan under consideration, the issues in the case that add to its complexity, in what stage in the litigation-process the case happens to be at the time the applicant requests the lawsuit loan, your chances of success in obtaining recovery on your claim, and when the case was filed. Further details in your case will be discussed with both you and your attorney once you submit your application.
Minimization of risk will be high on the lawsuit loan funder's mind in assessing your case, as is true in all such ventures that are speculative in nature. Another impediment to funding occurs when the applicant fails to identify the fact that previous settlement loans have been obtained. Previous settlement funding in a specific case is another factor that will have an effect on your ability to obtain a lawsuit loan.
Frequently, both applicants and attorneys want to know how settlement funding will affect the judgment obtained. Many possibilities come to mind, and we will discuss the most likely scenarios.
Once the settlement loan is provided, your case may settle for more than expected. This result would produce both a larger award for the plaintiff and, in most instances, a higher fee for the attorney.
If you have obtained settlement funding and your case settles for exactly what you expected, neither your recovery nor the attorney's fee will be affected. Your ability to obtain a settlement loan is that you are able see the claim through to completion, and the recovery is likely to be larger than may have otherwise been obtained if limited finances had forced you to settle prematurely.
If you have obtained a lawsuit loan and you recover less than anticipated, you, as well as all involved parties, will likely receive less than you may have otherwise. It is important to realize, however, that it is unlikely that the defendant would have offered as much as you ultimately recovered.
If you are a plaintiff who obtains settlement funding and you obtain no recovery, you win! This is a non-recourse instrument, meaning that you only repay it if you obtain a recovery. - 30462
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