Pre-Settlement Funding – Legal
Pre-Settlement Funding
Afra AmirSanjari
ATTENTION ATTORNEYS: Your Clients Case Was Worth $500,000 But They Were Forced to Take $200,000 Because They Couldnt Pay Their Own Bills.
The Problem:
Your client is injured as a result of the negligence of others.
Did you know the plaintiff could get fast cash advances on:
Motor vehicles accidents
Ceiling Collapse
Other Premises Liability Cases
Medical Malpractice
Employment Discrimination
Police Misconduct
Toxic Mold
Seaman Claims
Attorney Funding
And Other Types of Injury Cases
Slip/Trip and Falls
Work Site Accidents
Faulty Products
Sexual Harassment
Wrongful Death
Wrongful Arrest/Imprisonment
Jones Act
Class Action Cases
Commercial Cases
It
Plaintiff Funding – Legal
Plaintiff Funding
Wensley McKenney
Plaintiff Funding is a controversial new finance area in which a plaintiff secures funding based strictly on the potential financial recovery from his or her pending legal claim. Similar to securing a mortgage against your home, a plaintiff can receive a cash advance against the potential future proceeds from a legal claim. There are no income or employment verifications and if the legal claim has no financial recovery, then the plaintiff is NOT obligated to repay the money.
Certain companies like Global Financial http://www.glofin.com offer low cost cash advances to victims of personal injury & work related injuries. The cash advances can be obtained quickly and with very little personal credit, however, there are those that oppose this type of financing. Some lawyers point out that the fees are high for their clients and that other options like dissability insurance or goverment programs may be more beneficial and less costly.
On the other hand, many Law Firms have used this type of financing to market their services to potential new clients and they realize that offering immediate cash flow can help their clients pay bills until they can heal their wounds and get back to work. It is clear that large insurance carriers are content to wait out the financially desperate plaintiffs that are desperate to settle their cases.
Plaintiff Funding can be used for many thing, many of which may directly increase the value of the legal claim. For instance, if a plaintiff does not have healthcare insurance but needs surgery, they may apply for plaintiff funding which can pay for their medical procedure and significantly increase the value of the legal claim. Even though the plaintiff will pay fees for the funding, the increased value of the legal claim will far outweigh the fees charged.
Regardless of your opinion of Plaintiff Funding, it is a new specialty finance area that is here to stay and like all other types of financial transactions it may have benefits or negative aspects depending on the terms and parties to the transaction.
About The Author
Wensley McKenney is a graduate of Tulane University and has 15 years experience in specialty finance and personal injury law.
glofin.com
wensley@glofin.com
Litigation Funding – Legal
Litigation Funding
Wensley McKenney
Litigation Funding offers financial resources to plaintiffs that are the victims of personal injury by the negligent acts of another. It is simple reality in the United States legal system that financial strength plays a significant role in the ultimate settlement or judgment amount of legal claims. Fortunately there are litigation funding companies like Global Financial http://www.glofin.com that offer funding services to Plaintiffs which can help level the playing field with deep pocketed defendants.
Litigation Funding is offered to plaintiffs with a legitimate legal claim, however, there are no credit checks or income verifications. The funding company advances cash to the Plaintiff in return for a portion of their potential legal claim proceeds. If the legal claim is successful then the litigation funding company receives their capital back plus fees, however, if the case is lost for any reason, the plaintiff keeps the money without obligation to repay the funding company. This type of contingent advance is not a loan but rather an investment which is speculative and repayable only upon some unknown and contingent event. In fact, it is very similar to the fee that a Personal Injury attorney charges its clients.
It is clear that large insurance carriers for defendants in personal injury cases will make low ball offers to see how desperate a plaintiff may be. They are using their financial superiority in hopes of achieving a settlement amount that is lower than the ultimate value of the plaintiffs claim. It seems to be a game of cat and mouse in which the cat represents the defendants insurance carrier and the mouse represents plaintiff. Fortunately, litigation funding companies like Global Financial 866-709-1100 can help level the playing field for personal injury victims and allow plaintiffs to receive a full and fair settlement or judgment.
It is important to note that Litigation Funding can be considered as a form of insurance against a potential loss in the legal claim. In other words, the plaintiff receives a financial guarantee that they will receive a financial recovery regardless of the outcome of the legal claim. If there is no financial recovery from the legal claim then the plaintiff will still obtain a financial recovery from the claim by keeping the cash advance received from the litigation funding company without obligation to repay any amount. If, however, the legal claim is successful, the plaintiff is only obligated to repay the cash advance they received plus fees. Regardless of the outcome, a plaintiff is guaranteed a financial recovery and that is assurance or insurance no matter how you look at it.
About The Author
Wensley McKenney is a graduate of Tulane University and has 15 years experience in the financial and legal fields. His firm Emerson Capital, Inc. has raised more than $125 Million of public companies.
wensley@glofin.com