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Lawsuit Funding New York & New Jersey: Who needs it?

Lawsuit Funding

Lawsuit Funding New York & New Jersey

If you’ve never been involved in a lawsuit, you may be wondering who needs lawsuit funding and why. The ‘who’ and the ‘why’ behind lawsuit funding are both important. We’ll try to give you a little glance into the types of clients we service and why the service we provide is so important to them.

First, let’s address the ‘who’. The typical lawsuit funding client is a New York or New Jersey plaintiff who has a lawsuit filed against another individual or company regarding an injury or accident which the plaintiff sustained. This could be a personal injury case, an automobile accident or a wrongful death suit filed by the family of the deceased. Another example of a lawsuit funding client would be an attorney who is providing legal counsel for one of these plaintiffs.

So, why would either of these two individuals, the plaintiff or the attorney, be requesting lawsuit funding? That answer is fairly simple. Lawsuits can take a very long time to settle, and both the plaintiff and their attorney have financial obligations to meet in the meantime. They may have a large settlement coming once the lawsuit is finally decided, but they both need to pay the rent, along with many other expenses, during the process.

Imagine, if you will, a young man severely injured in an automobile accident. He spends several weeks in the hospital and several months in rehabilitation. Not only has he accumulated a large amount of medical bills, he has been unable to work during this time. With the disabilities sustained in the accident, he may need retraining in order to find another job. Without income coming in, any savings he had are depleted and the expenses continue to build. There is no means of paying the mortgage, the car payment or the utilities, much less his daily living expenses.

The final outcome of the lawsuit is fairly certain to land in his favor, but he can only hold off the creditors for so long with that promise of funds at some point in the future. That is where lawsuit funding comes in. The plaintiff can apply for funding from Multi Funding based on the anticipated settlement amount. This will allow him to meet his current financial obligations while going through the long legal process.

But what if he loses the lawsuit? How will he pay it back? Those are always the first questions that come to mind. If he loses the lawsuit, he owes us nothing. We take all the risk. Our experienced attorneys examine each application submitted for lawsuit funding, and we base our decision to provide that funding off our attorneys’ expert opinions on the expected success of the suit.

We also mentioned the lawyers of the plaintiffs in our ‘who’ description. Lawyers involved in these types of cases often need additional capital to pay for the litigation expenses of their client during this long process. Multi Funding provides several different types of attorney funding as well, to help cover those expenses.

The plaintiff and their attorneys are our typical clients, but there are a few other types of clients at Multi Funding that you should know about. Some of our clients have already won their lawsuits in court and been awarded their settlements, but are receiving the settlement amount in payments over a period of time. We provide lawsuit funding for these situations as well. We refer to this as “structured settlement funding“. In this situation, we can provide the injured party with a large portion of their settlement funds in a short amount of time, instead of having to wait for the scheduled payments. We also provide a similar service to lottery winners and other individuals who are receiving annuity payments, and would like to borrow a lump sum in advance, using their future receipts as collateral.

 

Lawsuit Funding Clients

Who needs lawsuit funding? Plaintiffs involved in pending lawsuits, their attorneys and individuals with drawn out settlement payments. This is just the beginning of our list of lawsuit funding clients. Anyone waiting on money owed to them can apply for lawsuit funding services. We’re here to help.

The lawsuit funding application process is easy, simply complete the lawsuit funding Short Form on our website and we will contact your attorney to request the information needed to process your request. lawsuit funding approvals can be determined in as little as 24 hours.

 

Multi Funding USA is your Lawsuit Funding Specialist

Serving:   New York, New Jersey, Connecticut, Vermont

1-866-957-8880

 

 

 

 
 
 
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