We say YES more than anyone in the business. Get Lawsuit Loans and Legal Financing from Pegasus Legal funding today! In recent years, many people have learned that if they’re involved in a personal injury accident, they may be eligible to get lawsuit funding. Which is a cash advance enabling you to have the financial resources to pay your bills and pursue litigation to obtain the settlement you deserve. Lawsuit Funding is not a loan, because it does not have to be paid back directly by the plaintiff. Instead, the company who gave you lawsuit funding will get the money you have received from them and the agreed-upon payback from the settlement once your case or claim has been successfully settled. What, then, is the purpose of lawsuit funding? The purpose is to give you access to money while you are waiting for your case to go through mediation or the court system and for you to reach a settlement. If you’re considering a lawsuit cash advance, there are a few things that you should consider.
Time is Money in regards to Lawsuits
One thing that you should definitely consider is time. Time is a huge factor when it comes to lawsuits. Most attorneys will tell you straight up how long they believe the case will take, and an experienced attorney will likely be very close. Believe them. If they say that the case will take six months, then expect it to take at least that long, if not longer. If you have maxed your budget and you realize that you will not have the money that you need to pay all the bills, then you might need to consider lawsuit funding.
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But think about this type of funding in advance, as lawsuit funding approval can take some time. The information about your case has to go through a few different levels before the company can approve your request, so make sure that you apply as soon as you realize that you are going to need the money.
The Costs of Legal Funding
When you start looking at lawsuit funding companies, you will find that there are several out there. Some of these companies may charge advance fees to process and approve your funding request. This is not really a good idea. The company should make money if they give you an advance, as they will take a portion from the settlement. They should not, however, request that you pay them any sort of fees from your pocket, including monthly fees or application fees. And unlike Pegasus Funding, who is a direct funder, other companies will charge you 3rd party, broker fees, organization fees, and all of the fees you will have to repay when your case settles. You can avoid all of these advanced and unnecessary fees by dealing with a direct funder such as Pegasus.
Losing your Claim/Case
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It is important to note that a non recourse company will not require you to pay back the advance if it happens that you lose the case. If the company states that you are going to be responsible for paying back the funds, as that is actually a traditional loan (also known in the industry as a lawsuit loan) and not a lawsuit funding or a lawsuit advance. A reputable non-recourse company will only get repaid if your lawyer wins lawsuit or claim. Pegasus does not offer lawsuit loans which in the unlikely event you are not awarded a settlement, you owe nothing.
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