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Lawsuit Funding Bridges the Gap in New York and New Jersey

Lawsuit Funding

Lawsuit Funding : Bridging the Gap in New York and New Jersey

There are times when you may need lawsuit funding. For example, if you have been injured in an accident and can no longer work, the bills keep piling up. Lawsuits can take a long time to reach a verdict and that can mean that some plaintiffs back out or give up because they simply cannot hold out long enough to reach that verdict. In New York and New Jersey lawsuit funding can help these individuals bridge the gap with disposable funds until the lawsuit is resolved.

What is Lawsuit Funding?

In New York and New Jersey, lawsuit funding is essentially the same, but it can and often is readily misunderstood. Often during long cases, clients may decide that a settlement is necessary because they cannot hold out long enough for a verdict. While a plaintiff’s case may be strong, defenses often make every effort to prolong the case in the hope that the plaintiff will be forced to settle for far less than they would receive from a jury verdict. With lawsuit funding, this doesn’t have to happen.

Lawsuit funding is done through a private third party that is not associated in any way with the lawyer, the law firm, or the plaintiff. Lawsuit funding firms come into play only  when the client, or plaintiff, contacts them. From there, the funding company researches the case, contacts the plaintiff’s attorney or attorneys and gathers pertinent information about the case to determine the merits of it and, more importantly, the likelihood that a verdict will be in favor of the plaintiff. If this funding company determines that the verdict will likely be in the plaintiff’s favor, it will extend funding.

How is Lawsuit Funding Different from a Traditional Loan?

The most important consideration to keep in mind is that the funding company is making an investment in the verdict, not the plaintiff, or client, in this case. If the judgment goes against the plaintiff, then the lawsuit funding does not need to be repaid. In traditional loans, the client is responsible to pay back the loan, regardless of any other external circumstances.

What Can This Money Be Used For?

There are basically no stipulations about what the money from the lawsuit funding can be used for, but through experience, many plaintiffs in long litigation cases tend to struggle to pay their most basic expenses such as rent or their mortgage, food, electricity and other utilities, and more. Lawsuit funding is ideal for people who simply need a financial bridge to help them survive the daily expenses of life until their case is resolved.

It is also important to note that while the client’s attorney is not involved in lawsuit funding, he or she may be able to offer a qualified referral to the client on the right funding company for their needs.

What is the Catch?

With this kind of funding, it can be easy to assume that there might be a catch, but there are no strings attached with lawsuit funding. A plaintiff in a lawsuit has enough of a burden to endure as it is and acquiring enough funding to help him or her reach a verdict is important to its resolution. Find out how a lawsuit funding can work for you.

Lawsuit Funding Application Process

Complete a Short Form or call 866-957-8880 to apply for a lawsuit funding today!

 

 

 

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