Often when a person is involved in a personal injury accident
they will find themselves unable to work and slowly running out
of funds. Although at some point the person may receive an
insurance settlement that will ultimately compensate them for
the injuries they have received, the typical personal injury
accident victim has to often figure out what to do until they
receive this settlement. One possibility is a "lawsuit loan"
otherwise known as "lawsuit financing," "lawsuit funding" or a
"lawsuit cash advance."
A "lawsuit loan" or "lawsuit cash advance" is a cash advance
made against the proceeds a personal injury accident victim will
receive from an insurance settlement or personal injury lawsuit.
Technically the cash advance is not a loan because the proceeds
never have to be paid back if the accident victim receives no
"Lawsuit loans" or "lawsuit cash advances" will often be
provided in cases that involve personal injury such as motor
vehicle accidents, medical malpractice claims, slip and fall
accidents, product liability claims, animal bite claims and
worker's compensation injuries where the victim is represented
by an attorney.
A person will typically apply for a "lawsuit loan" or "lawsuit
cash advance" by contacting a company such as Lawsuit Cash Advance,
LLC that provides this type of specialty funding. The person
will be expected to provide information relevant to their case
in order to be evaluated as a possible recipient of a "lawsuit
loan" or "lawsuit cash advance." Initially they and their
attorney will have to submit a questionnaire, and this request
for information will be followed up by a request for any
additional documentation relevant to the person's personal
injury case such as police reports, incident reports, doctors'
bills, medical records and other legal documents.
Once the person has provided all the required paperwork
necessary to evaluate their case, a lawsuit funding company such
as Lawsuit Cash Advance, LLC will then evaluate the accident
victim's case in the same way any underwriter would. An
assessment will have to be made as to the likelihood that funds
advanced will ultimately be paid back and to the amount the
personal injury accident victim can actually be advanced.
Once the personal injury accident victim's case has been
evaluated, if they qualify they will then be issued a "lawsuit
loan" or "lawsuit cash advance." Funds can usually be provided
within 24 hours of receipt and approval of the application and
all supporting documentation.
About the author:
Michael Merten is an Internet marketing consultant who works
primarily with personal injury finance companies and law firms.
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