Bankruptcy Prof Blog

Posts Tagged ‘lawsuit funding’

Are you one of the many who are seeking either lawsuit funding or settlement loans to assist with the expenses of a lawsuit? If you are, do you know when to retain an attorney. Assuming that you do, are clear about what it is you are looking for in an attorney? We’ve provided a few keys to assist you in this selection. Failure to choose correctly may be more costly than you realize.

Unfortunately, this is a situation in which many plaintiffs find themselves. Furthermore, it is a very common occurrence that this is performed in some lackadaisical fashion. However, failure to select a competent attorney, an attorney who is both capable of providing and willing to provide reliable counsel in such situations, may result in a disastrous outcome in your case!

Most individuals pursuing pre-settlement loans and lawsuit funding find themselves confronted by numerous factors that are beyond their control. Fortunately, selection of the attorney is within their control. Competent attorneys provide an intrinsic value to virtually any meritorious claim.

Make no mistake about it, even the best of cases often fall short. Once cases get to the courthouse, many factors play a significant role in the outcome of your case. The judge who presides over your case can make or break a case. This is often determined by the jurisdiction in which a case must be filed. Oftentimes attorneys have little choice over the judge who will be presiding over a particular case.

If the plaintiff elects to have a jury-trial, it is important to realize that jurors are human, bringing biases, prejudices, presuppositions, etc. to the process. It is foolish to disregard this vital consideration.

Individuals who seek to obtain lawsuit loans must keep in mind that their integrity will be assessed from the very beginning of the claim. In many instances, the payers are going to be viewing the plaintiff’s actions with suspicion, irrespective of the plaintiff’s best efforts. Plaintiffs who are prone to make outlandish demands, express unrealistic settlement proposals, present cases that suggest injuries are exaggerated, etc. are likely to find rough-sledding in pursuing lawsuit funding and settlement loans.

The first step in identifying an attorney who is appropriate for your case is to identify an attorney who is willing to listen to what it is that you wish to present. Attorneys who don’t have time for their clients are not sufficiently competent to represent them in an underlying case. In fact, no attorney should take on a client if that attorney does not feel as though they can devote sufficient time to represent that client in a zealous manner.

Too frequently, Personal Injury attorneys get overextended and resort to running practices classified as “mills.” Such practices are a disgrace to the Legal profession and rarely provide true legal representation to their clients. These practices often coerce clients into settling their claims for pennies on the dollar to preclude litigation and allow them to move on to the next “mark.” Such practices significantly compromise the likelihood of obtaining either lawsuit funding or settlement loans.

Fortunately, the vast majority of attorneys are true-professionals who desire the very best for their clients. (Sadly, the public perception is contrary to this fact.) Such attorneys are willing to listen to their clients, meet with clients and reasonable times and in reasonable places, and provide a realistic view of the case the client presents. To such attorneys, educated clients are embraced, not ignored.

For those plaintiffs who intend to seek pre-settlement loans, they would be wise to spend a sufficient amount of time to enable them to select both a competent and reliable attorney to represent them in their claims. Those plaintiffs who fail to do so are likely to find themselves in a very weak situation throughout the entire process of litigation. Additionally, such incompetence is likely to be readily apparent to those individuals who are considering the value of the claim with respect to the propriety of providing either lawsuit funding or settlement loans to assist the plaintiffs in the litigation-process.

Interested in learning more about lawsuit funding? Please visit us today. There you may learn more about lawsuit settlement loans and even apply online for settlement loans.

In our last article, we discussed several factors that must be satisfied when pursuing settlement loans. Our principal focus was on the “reasonable person” standard and the “duty” the defendant owed to the plaintiff. Additionally, we discussed ways in which determinations are made with respect to the duties the defendant may owe to the plaintiff.

In addition to the foregoing, it will be essential that the plaintiff establish the “damages” that resulted from the defendant’s failure to exercise the duty owed to the plaintiff at the time the incident occurred. In this article, we will discuss ways in which the plaintiff may go about identifying damages for which a claim may be filed. Failure to establish the damages sustained, will preclude any likelihood of obtaining pre-settlement loans.

It is quite interesting to observe how frequently those who submit applications in an effort to obtain either a lawsuit loan or lawsuit funding fail to clearly identify the damages on which that claim is predicated. Unfortunately, the plaintiff has failed to understand one of the most critical elements in attaining litigation funding when they fail to identify those damages. If there are no identifiable damages, there will be no lawsuit settlement loan. Therefore, in addition to establishing that the defendant owed the plaintiff a duty and that the defendant failed to act in a manner consistent with that required by “reasonable person,” the plaintiff has no claim and will be unable to obtain settlement funding unless they can clearly establish the fact that they sustained damages as a result of defendant’s actions.

It is quite reasonable to ask, “If damages are so important, how do I determine what damages I’ve sustained? Additionally, how do I go about assessing the economic loss of those damages?” The damages may come in numerous forms. However, some of the more frequent forms of damages that serve as the basis of “negligence” actions are injury sustained as a result of a car wreck, injuries sustained as a result of discriminatory practices (e.g., employment discrimination), losses resulting from a breach of contract, losses resulting from a failure to maintain a safe and habitable environment (e.g., premises liability), injury sustained as a result of a dog bite, and wrongful termination of employment.

Assuming that the plaintiff has established that they did suffer damages, what are the actual damages that may be submitted to demonstrate the economic loss in question? A few examples of damages and economic losses resulting from said damages would be things such as medical expenses, vehicular repairs, loss of consortium, emotional distress, and loss of opportunity. It is essential that the plaintiff realize that in order to prevail in the underlying lawsuit and to obtain either a lawsuit loan or lawsuit funding they must clearly establish both the damages sustained and a reasonable estimate of economic loss resulting from the defendant’s actions.

If we were to take the example of medical expenses, there are many factors that must be taken into consideration. There may be fees related to emergency medical personnel who were called to the scene. There may be separate expenses related to the cost for having an ambulance take the plaintiff to either a hospital or medical facility. There may be expenses related to an emergency room visit. There may be expenses related to either a hospital-stay or outpatient facility. If surgery is required, not only is the surgery considered an expense, but fees related to anesthesiology, surgical-equipment, post-op rehab, etc. are also considered as medical expenses.

When plaintiffs pursue pre-settlement loans, it is necessary for them to take into consideration all of the damages sustained. Additionally, these damages must be carefully calculated in making a determination as to the extent of injury for which the plaintiff intends to file a claim. If the plaintiff fails to identify an element of damages, once that claim is settled, the plaintiff will be forever barred from future-compensation for those damages not included in the underlying claim.

Once the claim is settled, the plaintiff will be required, at least in most cases, to sign a “hold-harmless” clause. This agreement will absolve the defendant from all future damages. The settlement loans advanced will not be based merely on the perceived value of the claim filed against the defendant. The plaintiff’s ability to obtain either a lawsuit loan or lawsuit funding will be reliant on the funding-entity’s perceived value of the damages established. It is important to keep in mind, that the principal factor in making such a determination will be the damages both claimed and clearly-established.

Want to find out more about your settlement loans? Then visit our site on how to choose the best lawsuit loans for your needs.

Those interested in obtaining settlement loans must first establish that they have suffered an injury. In establishing the injury sustained, it will be necessary to satisfy several elements. The injury that must be established is not limited to merely physical harm/injury. The form of injury that may serve as the basis for a claim may include emotional distress, loss of real property, loss of personal property, etc.

Although there are numerous classifications of claims that may be submitted to obtain settlement loans, this series of articles will focus on “negligence” cases. In our discussion of “negligence,” our focus will be on the manner in which “negligence” is established in Courts of Law. It is important to realize that most cases dealing with “negligence” are civil. However, there are numerous causes of action that may arise with respect to “criminal negligence.” It is important to realize that in most civil cases the plaintiff seeks to obtain money (i.e., “damages”) for physical and/or mental injuries resulting from the harm defendant caused. In criminal cases, it is the State that seeks to prosecute the defendant for harm to which society is subjected.

A “negligence” claim is predicated solely on the fact that the defendant purportedly neglected to conduct himself/herself in a manner consistent with duties society imposed upon that individual. The standard on which the Court will rely is referred to as the “reasonable person” standard. If an individual fails to comport with the “reasonable person” standard, that individual may be liable for damages others incur as a result of the negligence in which that individual engaged.

As Lord Blackburn, a 19th Century Scottish jurist, stated, “Those who go personally or bring property where they know that they or it may come into collision with the persons or property of others have by law a duty cast upon them to use reasonable care and skill to avoid such a collision.”

In determining whether one has a case sufficient for obtaining a settlement loan, you’ll be required to satisfy various elements of your case. In negligence cases, you must first establish that the defendant acted in a negligent manner that resulted in your harm. It will also be necessary for you to establish that the harm to which you are subjected justifies the compensation you seek.

When calculating damages, it is essential that the plaintiff realize that the defendant may be liable for injuries sustained to the body, emotions, family members, real property, personal property, etc. It is vital that the plaintiff realize that these cases are fact-specific. In such cases, the Court will grant tremendous latitude when assessing the amount of damages sustained. The Court will exercise the same discretion in determining the amount of compensation to which the plaintiff may be entitled.

Individuals who sustain injury and wish to pursue either lawsuit funding or a lawsuit loan will be called upon to satisfy several factors in the underlying case. It is necessary that the plaintiff establish both negligence and damages. However, the direction in which the case proceeds will be contingent on neither the nature nor the extent of damages sustained.

Individuals seeking settlement loans will obtain a tremendous amount of assistance if they work with the litigation funding broker. Unfortunately, many individuals fail to receive the funds they seek due to the fact that they fail to obtain requisite information. Additionally, many of these individuals fail simply because they are unable to engage in an appropriate level of communication with the funding-entity from which they seek to obtain lawsuit settlement loans.

Are you confused about obtaining litigation funding? Please stop by our site to find out all about the benefits of obtaining lawsuit loans and what they can do for you.

Most individuals aren’t even aware that obtaining either a lawsuit loan or lawsuit funding is possible. Therefore, most individuals are totally unaware of the fact that they may utilize a broker’s services when obtaining such financial assistance. However, individuals who work as brokers, also known as lawsuit funding specialists and lawsuit loan specialists, may prove to be a valuable resource. Essentially, they work closely with clients to assist them in obtaining the best possible arrangements for the litigation assistance the clients seek.

If you’re going to work with a broker, you’re wise to find one who works with a number of funding-entities. Individuals who work directly with funding-entities will find that, irrespective of the nature of their claim, all claims are submitted to the same underwriters. Contrariwise, when working with professional brokers, claims will be reviewed thoroughly to make a determination as to which funding-entity is most likely to provide the funding requested, and the claims will then be directed to those funding-entities.

If you’re curious to know how it is that clients may utilize a broker’s services without incurring additional expenses, one should realize that the funding-entities spend a great deal of money advertising to obtain information regarding those who are seeking either a lawsuit loan or lawsuit funding. Therefore, those funding-entities are typically more than happy to work with the brokers who are able to work closely with clients to obtain requisite information and to make processing claims go much more smoothly.

If the broker selected is competent, the transaction will go much more smoothly. Many clients find it very tempting to submit multiple applications to multiple funding-entities. However, this is not advised. The vast majority of funding-entities seek specific information in their applications. For a myriad of reasons, funding-entities limit the number of states in which they will provide financial-assistance. (Most clients will find that the funding-entities to which their applications are submitted will fund in only a few states. Other funding-entities will fund in all but one state.) Furthermore, these funding-entities will limit the types of cases they will accept. The vast majority of funding-entities will not accept Workers’ Comp cases. However, a few funding-entities will accept such cases in a very limited number of states. (Customarily, this is due to statutes applicable to the states in which the injuries occurred.)

A broker may be extremely helpful to clients in discussing the client’s needs with the client, contacting the client’s attorney, obtaining requisite documentation, and reviewing that documentation for completeness. Once the documentation is received and reviewed, a competent-broker will then make a determination as to the funding-entity best-suited to underwrite the client’s claim.

There is no doubt that working closely with either a lawsuit loan broker or lawsuit funding broker is a wise choice for most clients! Brokers provide a great deal of assistance to clients, as well as increasing the likelihood of their obtaining the financial assistance they seek. Additionally, brokers will work closely with clients to help them maximize the amount of funding obtained to decrease the likelihood of having to request additional funding in the future. Subsequent requests are often met with a great deal of resistance from funding-entities. Many clients return to the same broker if a need for litigation-funding arises in the future.

Looking for more information about lawsuit funding? Please allow us to provide more information regarding lawsuit settlement loans. Please stop by today, and you may either apply online for a lawsuit settlement loan or review our lawsuit funding frequently asked questions archive.

In our first two articles, we explored ways in which plaintiffs would be able to assess both the pros and cons of obtaining either a lawsuit loan or lawsuit funding. This article’s focus will be on what happens once the settlement loan is obtained.

Many of our clients come to us asking, “How do we repay a lawsuit loan?” It is very important for clients to realize that when obtaining this form of financial assistance, there are no upfront fees, your credit history is not an issue, and you have to pay nothing unless and until your claim is settled. The time at which a lawsuit loan or lawsuit funding would be repaid would be once the claim is actually settled. This assumes of course that the claim is settled in the plaintiff’s favor.

One of the foremost questions clients present is, “What happens if I lose my lawsuit?” Another advantage of obtaining settlement loans is the fact that they are non-recourse forms of funding. Therefore, if the plaintiff does not prevail in the underlying lawsuit, the plaintiff repays nothing. The funding-entity has already advanced the funds and the funding-entity cannot pursue the plaintiff if the plaintiff does not prevail in that lawsuit.

Many of our clients want to know whether there are any limitations that will be placed on them as far as how monies advanced may be spent. Many are relieved to learn that there are no limitations whatsoever in the manner in which these monies may be spent. However, many of our clients are in desperate need of funding to assist them in paying for their utilities, mortgage, car, etc. However, due to the flexibility of such funding, the individual who acquires either a lawsuit loan or lawsuit funding may utilize it to go on a vacation, spending-spree etc. (Plaintiffs are encouraged to utilize these advances in a judicious manner.)

Clients also frequently asked, “What happens if I need additional funding in the future? Will I be able to obtain additional monies on the same claim?” Yes, plaintiffs are able to obtain additional funding in the future. In fact, many clients will accept only a portion of the maximum amount that could be advanced at the time the initial funding is provided. If additional funds are required in the future, the plaintiff merely requests additional funding. Additionally, the plaintiff may submit a subsequent request to obtain either a lawsuit loan or lawsuit funding.

Both plaintiffs and attorneys are eager to find out whether the funding-entity exercises any control over the manner in which the case is prosecuted. No, the funding-entity plays absolutely no role in the manner in which the case will be prosecuted. In fact, once the monies are advanced, the funding-entity will have no involvement until such time that the case is finally settled in the plaintiff’s favor and an award is issued.

It is interesting to note that many clients are concerned about the manner in which attorneys will view a request for a pre-settlement loan. It is unfortunate that a relatively large number of attorneys are totally unaware that such financial assistance is available for their clients. However, many attorneys who are aware of such funding are eager to assist their clients in obtaining the financial assistance they need to be able to continue to pursue the litigation against the defendant.

If you’re currently a plaintiff, have you ever wondered why your attorney can’t just loan you the money? There is little doubt that many attorneys would love to be able to provide financial assistance to their clients. However, attorneys are prohibited from doing so due to the possibility of a conflict-of-interest arising as a result of providing such financial assistance. (It is significant to note, however, that attorneys are often willing to assist their clients with case-related expenses.)

Many of our clients also want to know whether the negotiations between the plaintiffs and the funding-entities are confidential. Yes, such negotiations are confidential. In fact, unless the plaintiff elects to notify the defendant that such monies have been obtained, the defendant need not be aware of this transaction at any time during the course of litigation. There are situations, however, in which the plaintiff may want to put the defendant on notice that individuals experienced in reviewing such matters have deemed the plaintiff’s case sufficiently meritorious to advance either lawsuit loan or lawsuit funding.

Settlement loans often prove to be extremely helpful to plaintiffs. When plaintiffs are hard-pressed financially, they are often eager to obtain either a lawsuit loan or lawsuit funding. Once such financial assistance is obtained, plaintiffs often find themselves much more confident about being able to pursue the lawsuit until a fair-and-equitable settlement is achieved!

Do you think a lawsuit settlement loan is right for you? Would you like to learn more about lawsuit loans? Please visit us today and you may apply online for a lawsuit loan and learn about the benefits of a lawsuit loan.

Q. “Exactly how much interest do you charge those obtaining either a lawsuit loan or lawsuit funding?”

A. This would be a valid question, were the requestor to obtain a loan. However, there is no interest charged when obtaining lawsuit funding because it is not a loan. If it were a loan, it would be necessary for the requestor to repay that loan irrespective of the outcome of the case. However, with a non-recourse advance, if you do not prevail in your case, you pay nothing. It is for this reason that the funding-entities will charge a risk-fee. The risk-fee charged is contingent on the inherent risk in the lawsuit that you present.

Q. “What is the length of time that it takes to obtain either a lawsuit loan or lawsuit funding?”

A. It depends on your attorney. The broker will send a request for documents to your attorney, and must speak with your attorney as soon as possible. If the required information is obtained and the broker is able to talk to your attorney within one day, you may receive your settlement loan that same day. Therefore, you should notify your attorney that you’re looking to get a settlement loan and your attorney should supply all requested information to Legal Settlement Loans as quickly as possible.

Q. “Are there any upfront fees when obtaining either a lawsuit loan or lawsuit funding?”

A. No, settlement loans have nothing that the requestor must pay in advance. This is just one of the many advantages of obtaining such financial assistance.

Q. “If my request is approved, how am I to go about obtaining either a lawsuit loan or lawsuit funding?”

A. The lender can FedEx a check to you overnight, or the lender can wire the money directly into your checking account for a pre-determined fee.

Q. “What if I don’t want to give my birth-date or Social Security number prior to obtaining a pre-settlement loan?”

A. No, this will not be required initially. It is important to realize, however, that if you are approved for either a lawsuit loan or lawsuit funding, you will be required to provide the aforementioned information prior to release of the requested funding.

Please note that because time is of the essence, a good broker will follow up immediately with you with a phone call to ensure that the law firm with which you want the broker to work has received the Request for Documents. In most cases, the attorneys themselves neither prepare nor submit the paperwork in response to lawsuit funding requests. It is customarily a paralegal or secretary who will both prepare and submit the paperwork to you.

Your broker is going to be working on your behalf to obtain the settlement loan you seek as quickly as possible. Therefore, if the requested documents are not received within 1-2 days, a good broker will follow up with that law firm to find out if there’s anything that the broker can do to expedite the process for you.

You should be aware of the fact that if your attorney is not cooperative, the broker will ask you to assist in obtaining the documents as quickly as possible. Once again, the clock is ticking and the attorney works for you, not the other way around!

If you have an attorney who refuses to cooperate, your broker is not going to encourage you to fire that attorney and retain a new one. However, it is extremely important for you to keep in mind that without your assistance, as well as your attorney’s, obtaining either a lawsuit loan or lawsuit funding will be virtually impossible.

Some attorneys will require a Release of Medical Records that you must sign prior to releasing medical records to your broker. If that is the case, your broker will obtain the requisite form, submit it to you, request that you sign it and return it to your brokers as quickly as possible.

Under ideal circumstances, your attorney will submit the documents following the initial request. Upon receipt of the documents, it will be necessary for your broker to review those documents for completeness. It will also be necessary that the broker determine the funding-entity best-suited to accommodate your funding request. Once that information is obtained, your packet will be submitted to funding-entity for review. If the funding-entity determines that the packet is complete, the entire packet will be submitted to underwriters for consideration. If the facts of your case substantially support your claim, and your request is reasonable, your chances of obtaining either a lawsuit loan or lawsuit funding are very good!

Looking for more information about lawsuit funding? Please allow us to provide more information regarding lawsuit settlement loans. Please stop by today, and you may either apply online for a lawsuit settlement loan or review our lawsuit funding frequently asked questions archive.