Pegasus Legal Capital understands that when a person is injured, their income is almost always dramatically reduced due to their inability to work. If they are eligible to receive workers’ compensation or disability benefits, the proceeds are typically only a fraction of their normal earnings. Read How It Works.
Additionally, there may be out-of-pocket medical expenses associated with their treatment, such as insurance deductibles and non-covered procedures. Depending on a plaintiff’s financial resources and the length of his or her disability, he or she may require financial assistance during this period. Many plaintiffs approach friends and family for loans, but these resources are typically limited (if they exist at all). Plaintiffs are typically unable to borrow money from traditional lending sources such as banks because they are temporarily or permanently out of work due to their injuries and therefore unable to make the monthly payments.
Most importantly, traditional lending sources do not consider a plaintiff’s claim as acceptable collateral.
In many cases, if a person is unable to borrow from family, friends, or traditional lending sources, they may turn to their attorney for financial help. However, in most States it is an ethical violation of the Code of Professional Responsibility governing the conduct of lawyers for an attorney to loan money to his or her client. If the plaintiff cannot find a source of funds, he or she may be forced to settle his or her claim for significantly less money than the claim truly justifies due to a pressing need for funds. With a reliable source of funds to meet the plaintiff’s necessary obligations, both client and attorney are afforded the patience and leverage to hold out for a fair and often higher recovery. Plaintiffs can obtain an award that is based on the actual merits of the case and that is NOT affected by their immediate cash needs. In most cases, by the time a plaintiff is referred to Pegasus Legal Capital, he or she is often behind on payments such as rent/mortgage, automobile, credit cards, utility bills, property taxes, tuition etc.
Pegasus Legal Capital’s goal is to help clients meet their basic living expenses and financial obligations throughout the duration of their case. By assisting people in creating realistic budgets and needs assessments during the underwriting process, Pegasus Legal Capital seeks to limit the cash advance amount needed by the plaintiff and thereby protect the amount of the net recovery to them from the future lawsuit settlement or award. This philosophy makes the Pegasus Legal Capital an important and responsible provider of cash advances for both plaintiffs and their attorneys.
And remember, Pegasus does not offer lawsuit loans. Your lawsuit funding advance is not a loan, it is a non-recourse cash advance. There are no credit checks, no monthly payment schedule, and best of all no risk. If your case is not settled and you are not awarded a settlement, you owe us nothing.
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