While your lawsuit is ongoing, and you need cash for bills, medical treatment, and more, obtaining pre-settlement funding can be a blessing to you and your family. It may also help tip the balance of your lawsuit in your favor.
However, one of the most asked questions is, do you need to obtain the consent of your attorney before you can get the pre-settlement funding you need?
It’s not unusual for your opponent’s lawyer to drag out your lawsuit, thus making you (as the plaintiff) succumb to current financial pressures.
When all your bills begin to mount up, your opponent (or defendant) will hope you will settle for less so that you don’t “drown” in your bills.
In this situation, your lawyer’s approval of pre-settlement legal funding could make an enormous difference to you, your family, and your future.
It’s true that, yes, your lawyer can sometimes deny your request to obtain pre-settlement funding. Your lawyer might have many reasons for this, which may depend on how they feel about your case and how much compensation you may receive.
This is where a reliable, experienced pre-settlement funding company can help you immensely. The funding company will collaborate closely with your lawyer to understand your case, exactly how much compensation you may receive in your settlement, and the proper but adequate amount they may advance your pre-settlement funding.
One of the usual problems stems from the fact that your lawyer always gets paid at the end of your case. Some law firms don’t want to involve a third party (pre-settlement funding company) in this process.
It’s important to note that you can always hire a new law team that will consent to pre-settlement funding. However, that is not always wise and can be challenging to accomplish, especially if your lawsuit is complicated.
You must note, however, that you can obtain legal funding at any stage of your case once your lawsuit has been filed and, in some cases, obtain more as the outcome becomes more confident.
A competent, thorough, and diligent pre-settlement funding company will do its best to work clearly, and competently with your lawyer. In most cases, they can come to a rational agreement on the chances of you winning your case and the amount you may receive. This makes you and your law team comfortable proceeding with your pre-settlement funding and getting the help you need.
Why Wouldn’t My Lawyer Want Me To Get Pre-Settlement Funding?
There are some valid reasons why your lawyer wouldn’t want you to get pre-settlement funding.
Your law team may still be investigating your case and not have all the facts needed to determine your chances of winning and what dollar amount you may receive. Usually, this being the case, you could discuss it with your lawyer and apply again later for your needed pre-settlement funding.
Your lawyer doesn’t like working with litigation funding companies. They may have their reasons. Your reliable, experienced pre-settlement funding firm will investigate your case and discuss all the details with your lawyer until both rationally agree to move forward.
To obtain a pre-settlement lawsuit loan, you must have a lawyer representing your case, so they must be involved in the loan process.
Having a qualified, experienced personal injury (or another type of) attorney on your case increases your chances of winning and receiving a settlement. Remember that repayment to the pre-settlement funding company is contingent on the case’s outcome. So, they commonly cannot take this risk on plaintiffs that don’t have an attorney representing them.
How Long Does It Take To Get My Pre-Settlement Funding?
Your approval time for pre-settlement funding will commonly depend on the funding company you’re working with.
Usually, reputable, diligent, and thorough legal funding companies have a simple application process to deal with. Once your funding company begins analyzing the details of your case and collaborating with your attorney, you could have a check in days or a few weeks. Each case differs, but your funding company knows “time is of the essence” and works hard to expedite the process.
However, To qualify for pre-settlement funding, you must meet the following two conditions:
- You have a valid pending lawsuit.
- You’re working with a contingency-based lawyer.
Pre-settlement financing (or any legal funding) requires no credit checks, and any assets you own (or don’t own) will not impact your eligibility for it.
Legal funding is classified as a “non-recourse” loan, which means that if you don’t win your case, your assets needn’t be used to repay it. The compensation you win is the only collateral for your pre-settlement advance, and if you lose your case, you owe nothing.
Can I Get Pre-Settlement Funding In A Class Action Lawsuit?
Class action lawsuits commonly take much longer to settle than most. This can be very discouraging for you if you participate in this litigation. Especially if your cost continues to mount while you wait for your settlement.
If your class action lawsuit is legally solid enough to go to trial, then, usually, you should be able to get pre-settlement funding.
Additionally, due to their nature and complexity, class action lawsuits may take longer for your thorough Pennsylvania funding company to analyze, confer with your law team, and fund. However, it’s by no means impossible for you to get funds.
If you’re involved in a class action lawsuit, consult with your pre-settlement funding company as soon as possible. Each case differs, but they are there to help you every step.
I Am Considering Pre-Settlement Funding; How Should I Proceed?
If you’re amid a lawsuit and waiting on your settlement, your bills are mounting up, and your life is disrupted. Pre-settlement funding can help enormously in getting your family the funds you need now.
Consult with a local Pennsylvania legal funding company now, and they will diligently answer any of your questions about the application process and the funding details.
They can provide you with the funding you need and help you to resist the financial pressure tactics the defense will rely on, so you settle for less. Don’t hesitate and take advantage of the full measure of justice that you, and your family, deserve.