Accident is always unfortunate. Sometimes, the consequences send the victim to discomfort as he or she fails to maintain a healthy life. The situation deteriorates further, when the sufferer files a lawsuit and does not get fair justice in right time. Several reasons are associated with such misery. Some of them are insufficient funds for meeting attorney fees, medical bills, mortgages, rents, etc. However, many people are not aware of the fact that they can seek the help of litigation financing with which can expect right justice and live a healthy life.
If you are one of the victims of personal injury, you can seek lawsuit funding by following these steps.
• Conducting survey regarding lawsuit financing companies
• Hiring attorney
• Filling necessary details for cash advancements
Find the Right Lawsuit Financing Company
You can find many lawsuit financing companies operating in the US. Every firm claims to offer right solutions. However, you should be careful before hiring such a company to avoid disappointment in case there are drawbacks.
The best way to locate a reliable company is to make some research. Pick up a few options and analyze the track records. In addition, you should compare fee structure, rates, and terms and conditions of the contract. Choose one that fulfills your expectations.
Hire an Experienced Lawyer
In order to qualify forlawsuit funding, an experienced lawyer should represent you. Hire a personal injury lawyer on contingency fee basis. This means that your lawyer agrees to get paid after the settlement.
Choose a State Where Litigation Funding Can Operate
Before choosing a litigation financing company, ensure that you file the lawsuit in a state, where litigation funding can operate. Many states of the US allow litigation funding except North California, Colorado, Maryland, Illinois, Minnesota, Alabama and Tennessee.
Filling the Application Form
After you have chosen a lawsuit financing company, you need to visit its office for filling the application form. If that company offers web services, you can do the same online. While you resume this task, provide accurate details like your name, lawyer’s name, residential address, contact number, date of accident, type of case and the day the lawsuit was filed.
Litigation financing companies check whether the injuries received are severe or not. They also check whether the defendant has strong liability for causing damage. These companies prefer cases where the defendant could pay for damages.
Providing Case Documentation
Legal process consumes substantial time towards completion. The litigation funding process is quite simple. After you submit your application, the litigation financing company will contact your lawyer to provide case details like medical or accident report.
After the company receives your case documents, the underwriters analyze the merits of your case. There is no need for employment verification and checking credit score as the funding decision relies solely on the merit of your case.
Ensure that your lawyer submits the required case documents in right time. After analyzing the strength of your case, the company makes decision within twenty four to forty eight hours. When your request is approved, your lawyer signs an agreement with the company before the fund is released.
You have to agree to the repayment terms that will be executed after the settlement. When you get the contract copy, ensure that you understand the terms and conditions. In case you have doubts, ask the concerned representative to explain the clauses. The approved fund will be credit to your bank account.
These are the steps, which you follow to draw pre-settlement lawsuit fund. With this money, you can meet the legal as well as personal expenses efficiently.
Jim Tenet is a lawsuit funding consultant. He helps clients to seek right litigation funding solutions for getting speedy justice.