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Old 05-19-2019, 09:41 PM   #1
bakerstreetfund
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Join Date: May 2019
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Default What are your thoughts on lawsuit loans?

Lawsuit loans, settlement advances and so on!
Generally, many of us prefer to not take out loans due to the debt that comes with it. The reality of the situation is that if you have a house a car or have studied in an educational institution, you most likely have a loan and are in debt.

There are also other type of loans that exist and that most people are not aware of, loans that can help you get through a lawsuit.

The million dollar question is, are Lawsuit Loans a good idea?
Lawsuit loans, or as the finance industry calls it, legal funding, are advances against your upcoming settled case. The bottom line is those who are involved in lawsuits and want to keep their suits going would take out a settlement advance in order to do so. Generally, people involved in personal injury lawsuits would use it more than other people involved in other types of lawsuits as those injuries can really make an impact in their lives and manifest in a financial chaos.

How Does Legal Funding Work?
Once the complaint of your lawsuit has been filed, it’s easier to proceed with a lawsuit advance as we evaluate your case through our underwriters in order to give it a fair value when your case settles in the future. Once approved, the plaintiff and attorney receive a contract, if signed by both parties, the approval amount will be either wired the same day or sent via a certified check the next day.

The payment (or bill) is not paid while the lawsuit is pending; instead, the payment is paid when the settlement award is given. They say “but the rates can be higher than average loans”. If your case loses, the plaintiff is in no debt with the company.

Hope you enjoyed this explanation of what lawsuit loans are!

Patricia from Baker Street Funding LLC
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