3 Reasons Pre-settlement Funding Helps Get You More Money
We’ve addressed some of the myths associated with legal funding in a previous post. Many victims of an accident, medical malpractice, product recall, or other instance for which they are pursuing a lawsuit, worry that pursuing legal funding will make them a victim a second time around; this time to lawyers or legal funding companies. However, many victims who use the assistance of legal funding during the pursuit of their lawsuit will receive more money than if they continue on their own. Here are several reasons why pre-settlement loans and legal funding are a good option to consider for your own legal case.
If It’s the Only Way to Pursue a Lawsuit
Sometimes the money to fund a lawsuit and pursue justice just isn’t available. People often have bills to pay and don’t have the savings necessary to pursue a lawsuit. If someone has been a victim of a workplace accident, medical malpractice, or other incident, that person may already be facing costly medical bills, missed work, and emotional trauma. The additional cost of a lawsuit may be overwhelming.
As the bills continue to show up in the mailbox, a victim can become convinced that there is no possible way to hire a lawyer and take the necessary time to pursue a lawsuit.
But pre-settlement funding, or lawsuit funding and lawsuit loans, can provide victims with the necessary money to cover living costs and medical bills. Being able to actually pursue a lawsuit is a crucial first step that many victims assume they are unable to achieve.
Beginning a lawsuit is a victim’s first step in receiving the money he or she deserves, and the first step to eventually returning to a normal life.
It Gives a Legal Team Time to Negotiate for Additional Compensation
There’s a misconception that using lawsuit funding services can lower the amount of money a victim receives by encouraging the victim’s lawyer to settle quickly in court.
In reality, lawsuit funding provides the funding necessary to cover living expenses, legal costs, and medical bills throughout the trial. So rather than settling on the first amount, a legal team is able to pursue the highest amount of cash possible since they are equipped with the necessary time and resources to pursue the most money possible.
Do you have additional questions about legal funding and pre-settlement loans? Want to know how funding can help your case? Contact one of our experienced lawsuit funding specialists for more information regarding your case and your options today, or leave us a message in the comments.