Disclaimer: Consumer legal fundings and advances are not loans under applicable financing laws. Rockpoint’s products are non-recourse, meaning if you don’t win your case, you don’t have to pay us back. Receiving financial support in connection with a legal case is typically (and oftentimes incorrectly) referred to as a “lawsuit loan” or “loan.” Therefore, for the ease of search references, these terms may be used in this context to refer to our funding products, but we maintain our separateness from consumer loan products in all legal aspects.
When seeking an award in a lawsuit, you, as the plaintiff, may have confidence that you will win the claim. However, the defendant continues fighting the claim and throwing roadblocks in the way of you receiving your money in a settlement. In a situation like this, consider taking advantage of legal funding for plaintiffs through plaintiff cash advances.
If you are having challenges meeting your daily expenses while you wait for the lawsuit to settle, pre-settlement funding is worth considering. If the lawsuit relates to a personal injury accident, for example, you may be unable to work while you recover your health. Learn more about plaintiff cash advances to see whether this might just be the solution you need to ease your financial stress.
What Is a Plaintiff Cash Advance?
Plaintiff cash advances involve receiving money now based on the amount of money you will potentially win in your lawsuit claim when it settles later.
The key advantage of using this type of funding is that you do not have to pay the money back if you lose your case. This non-recourse advance protects you if something goes wrong in your lawsuit and you end up receiving no money after losing the case.
You don’t receive this benefit if you increase your credit card debt to deal with your daily expenses while you wait for the case to settle. You would have to repay your credit card balances, regardless of the outcome of your case.
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How Lawsuit Loans May Differ From Plaintiff Cash Advances
If someone offers you a lawsuit loan while you wait for your settlement, ensure you understand the terms. Some companies use terms like lawsuit loans and plaintiff cash advances interchangeably.
Others may use the term lawsuit loan to refer to money that works more like a personal loan. If you don’t win your case, you may have to repay the money you received as part of a lawsuit loan. With plaintiff cash advances from a trusted third party, you won’t have to pay back the money if you lose the case.
Some other potential differences include the following.
- Lawsuit loan applications may require you to undergo credit checks, which could harm your credit score. Plaintiff cash advances won’t require a credit check.
- A lawsuit loan may require you to put up collateral, like your home or a car. Plaintiff cash advances do not require collateral because they’re based on your chance of winning your lawsuit.
- A lawsuit loan may require you to make monthly payments immediately. Plaintiff cash advances do not have monthly payments.
You should receive all these benefits when dealing with a trusted plaintiff cash advance provider.
Why You May Need Money Now
If you are going through a lawsuit for the first time, your attorney may warn you about the length of time the case may take. The stages of litigation can be quite lengthy.
While waiting to win your case and receive a final payment from the defendant, you may struggle to meet your daily expenses.
Some people cannot work because of the circumstances related to the lawsuit. If your lawsuit involves an injury accident, for example, you may need ongoing surgeries and other types of expensive medical care that your health insurance is refusing to cover.
Waiting several months or a few years for surgery because you can’t afford it without the settlement money could leave you with significant medical hardships. When you seek a plaintiff cash advance, you can use the money for any reason you need. Some clients use the money for medical care now rather than waiting to have surgery after the case settles.
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How Your Attorney Can Help With Receiving Cash Now
When you apply for a plaintiff cash advance, the financial company will contact your attorney. The company must verify the information about your lawsuit.
You should always speak to your attorney about your plans to apply for this type of cash advance. Your attorney may advise you about receiving a favorable outcome on your application. By alerting the attorney to your plans, the attorney won’t be caught off guard when the financial company reaches out about the cash advance.
The financial company will ask the attorney about the strength of the case and about expectations for an award amount that you could win. Any cash advance you receive will be a percentage of the amount you could win. The finance company will discuss the contingency fee that the attorney is using to make sure it fits in with the possibility of using a plaintiff cash advance.
If you are trying to represent yourself in the lawsuit instead of hiring an attorney, you are not eligible to receive a plaintiff cash advance. Only plaintiffs who are using an attorney who is charging them on a contingency fee basis are eligible.
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Call Us and Learn Whether a Cash Advance Fits Your Needs
Plaintiff cash advances can deliver significant benefits to you when a pending lawsuit is taking a long time to settle. Having this cash available now can allow you to wait for your legal team to fully work the case to try to reach the desired conclusion.
You may not feel like you have to settle early for less money when this financial assistance is available. To learn more about how to qualify for a lawsuit cash advance, call Rockpoint Legal Funding today at (855) 725-1187 for a free case review.
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