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If you have any questions, call us *TOLL FREE at 855-386-3968
If Pegasus approves your application for a cash advance and another legal funding company sends you a written contract to advance the same amount at a lower total cost, we will beat that deal or pay you $100 Guaranteed!
So finally you and your attorney have begun the slow process for your legal claim. Now what? As a matter of fact, it may be a personal injury case with ‘slip and fall’ claim, or it could be some sort of car or bus accident, or it can be including any number of legal actions. All you need is to get the fair settlement at the end of the day. It is your attorney duty to hold the person responsible for your injuries and get the settlement for you so you can get the medical treatment you need. At the end of this legal labyrinth, it the law firm’s objective to make you whole. And since your attorney will be battling a deep pocketed insurance company, you need to be prepared to the long haul of the legal process. It can take time for you to win the case and be awarded with the settlement.
How about the medical bills, all until then? In the months, and sometimes, even years before the case is heard in the court room, your bills may easily begin to pile up, to add on to your worries. Keep in mind, you got to bare the everyday expenses. Sometimes, you may have to replace the car too. It could be totaled in the same case, but what will you do for your commute all until then, is a challenging question.\
There are so many reasons for anyone to apply for the lawsuit funding. Most of the plaintiffs find it to be vital to look for financial assistance in the form of pre-settlement funding for three major reasons listed below:
• Living Expenditure
• Replacing Cars or motorcycles
• Medical Expenditure
Regardless of the adversities involved in the case scenario, under most of the circumstances, the plaintiff’s need to get the lawsuit funding probably fall under one of the three above mentioned categories in particular. Sometimes, you can see one reason to get the lawsuit funds bleeding into another. Situations vary by far. Sometimes you need to get the pre-settlement loan could be just like a direct result of the sued case as it can merely be a question of simple economics. What you need to see but is nothing but the after math facts, more than the reasons or the causes that make you look for the Legal Finance assistance. Simply put, you need money right now to meet your expenses, and you may borrow a percentage of the actual settlement that is pending.
Are you looking for lawsuit funds for any cases that you foresee a win? That your lawyer assures you must see a specific, huge amount of money as settlement? That makes you want or borrow money against the settlement right now? Then here are some questions that you need to answer form your heart.
Are Settlement loans Legal?
First and foremost is that Pegasus does not provide a “settlement loan” but rather a cash advance against the potential proceeds of the proceeds from your claim/case.So, are non-recourse cash advances legal? Point blank answer is yes. However, reaching out assistance from a legal lending firm having license, and with stable reputation in the trade, after a detail study conducted with researches made online and offline, is a must.
When will I get my loan?
Lender and the attorney cooperation must not be predicted. It must happen in reality. Different attorneys have diverse opinions due this regard. Some are not amiable to move with the lenders. There are some others who have bulk loads of similar such cases pending in their tables to look after. So, you must make sure on how long it is going to take for your lawyer to cooperate with the lender. When you want the law suit funding just because you could not wait for your settlement, the lender must understand this, for them to lend you money readily, and to recover it as soon as possible with interests.
Are the details about the lawsuit loan confidential?
No details are shared outside you and your attorney. We adhere to strict code of ethics within our company. We will only reveal information to your legal representation and the borrower. Pegasus as the primary funder in this transaction, as the lender alone know anything about the lawsuit claims.
How about the costs?
Again, this is one something that is surely contingent upon the particular lender’s policies. The Law suit loans lenders in general will take a fraction of the amount of the total settlement as a portion of their fees to lend you financial assistance.
What if I lose my case?
All risks of this possibility belong to the lender. If you lose then there is no money to be paid back. This is why all the lenders will take their time to assess your case validity, as mentioned earlier. It is simple process, though. Surely you’ll have more and more doubts, as questions as they arise while you may be trying to secure your own pre-settlement funds. When you are getting the right answers, possibly your confidence boosts further, to see a positive outcome sooner or later.
About the author:.
James Sheridan is the Contracts Manager at Pegasus Legal Funding LLC and is responsible for the final stage of the funding approval process. James focus and priority is delivering to PLF’s clients the funds they need as quickly as possible