Lawsuit Cash Advance - Best Options
Hello. First of all, thanks to Aaron and the others for what looks like a really helpful forum!
I'm interested in getting a cash advance on a settlement that's been approved, but I am new to this world and not sure where to begin researching reputable companies who QUICKLY provide advances to plaintiffs at reasonable rates.
I've read and found helpful the article Aaron wrote (http://www.expertlaw.com/library/per...financing.html ) but I still need guidance to sort through all of the companies.
Since I'm new here, I'm not sure I can receive PMs, but would gladly receive company recommendations from Aaron and others them if that's possible.
Thanks in advance for your advice! :)
Re: Lawsuit Cash Advance - Best Options
Presumably you're talking about non-recourse lawsuit funding. You cannot expect that a company is going to give you a quick check, because they have to investigate your case to see if they have a high probability of recovering their money as part of an eventual judgment or settlement. They'll want a lot of documentation and usually also the cooperation of your lawyer.
Generally speaking, this should be a last resort source of funding - the amount you receive will be considerably less than the amount you'll end up paying out of a settlement or award.
Re: Lawsuit Cash Advance - Best Options
Thanks! Couple of questions.
1. Some of these places advertise a quick turnaround. When, to your knowledge, is it actually quick?
2. If that's a last resort, what's a first resort? :)
3. When you say, "considerably" less, what range of percentages are you talking about (paid to the funding company)?
Thanks again!
Re: Lawsuit Cash Advance - Best Options
1. Contact them and ask how they define "quick", and what they need to give "quick turnaround".
2. Personal savings.
3. Contact them and ask the percentage they expect to take based upon the facts of your case, the amount of money you are requesting, and the projected verdict or settlement.