Here’s what to know
Although you can’t get a loan from your lawyer, they can help you find the best funding option for you. Going to court is not easy for anyone. There are many factors involved. The one that many people forget is money. You need to pay your lawyer as well as court fees. This can already cost you a few thousand dollars in just one day.
The purpose of this article is to help you understand all of the costs involved. More importantly, it is to help you understand what options are available to you, to help fund your case. This article will help you navigate these tough waters, so you can get settlement money now.
What Options are there?
No matter what your case involves, you can find the right funding option for you. Cases where funding is available to you involve but are not limited to: plaintiff legal funding, medical funding, pre-settlement funding, personal injury cases, auto accidents, malpractice cases and so on.
Funding can also help with living expenses and other costs that may be impacted by your legal situation. So, let’s run through some options. Once again, you cannot get a loan from your lawyer, but you can get their input. Some popular choices include lawsuit loans and other pre-settlement funding options.
You can almost always get some sort of lawsuit loan or cash advance, because most lawsuit lenders want you to be represented by an attorney. If you are considering a cash advance, it’s important to remember that each lender is different and that their terms of agreement may vary. A cash advance can be great, if your case is expected to go on for some time. This is an option that will provide you with some cash quickly and with relatively low fees if you pick a trustworthy lender.
Lawsuit loans are a bit different. They provide you with the same financial support, but it’s hard to know how much it’ll really cost you. Types of lawsuit loans vary greatly; some of the most common are car crash loans, pre-settlement loans, slip and fall settlement loans and so on.
Have your attorney work with you on this, it’ll make a difference. They can help you find a lender that gives you financial support upfront and with no cost to you if you lose your case. Otherwise, the interest on your loan could become a problem.
In Closing: You can’t get a loan from your lawyer… but they can help
Weigh all of your options and speak with your attorney. There are plenty of legal funding options available to you. But know all the factors beforehand. If you get a lawsuit loan, it is ideal if you find a lender who won’t charge you if you lose your case. But if not, be sure the find a lender with a low interest rate. To be safe, try to get one around 5% or less. Legal funding is a great tool to help you be at ease while your case is ongoing. It can cover all sorts of expenses. Just know the risks.