Legal Junkies Forums

#1 Community for Legal Questions and Answers

Go Back   Legal Junkies Forums > ACCIDENTS, PERSONAL INJURY, INSURANCE > Injury and Worker's Compensation

Register FAQ Tags Members List Search Today's Posts Mark Forums Read Layout




Thread Tools Search this Thread Rate Thread Display Modes
Old 05-19-2019, 09:41 PM   #1
Junior Member
bakerstreetfund's Flag is: United States
Join Date: May 2019
Posts: 2
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
bakerstreetfund is offline   Reply With Quote

Did you find this post helpful? Yes | No
Old 06-28-2019, 04:27 AM   #2
Junior Member
farnsworthatty's Flag is: United States
Join Date: Jun 2019
Location: San Rafael, CA, USA
Posts: 2
Default Re: What are your thoughts on lawsuit loans?

If you're in the middle of a personal injury lawsuit and need money, you might be able to get a lawsuit loan—an advance against any future lawsuit settlement or award amount. These advances are known by many different names, including:

lawsuit loans
lawsuit cash advances
litigation financing
lawsuit funding, and
settlement funding

But tread carefully before you jump at lawsuit funding. Borrowing against a future settlement or judgment can help you deal with short-term financial hurdles but might cost you a lot of money in the long run. Make sure you do your homework and understand the cost of getting a lawsuit loan.
farnsworthatty is offline   Reply With Quote

1 out of 1 members found this post helpful. Did you find this post helpful? Yes | No
Old 09-30-2019, 11:54 AM   #3
Top Level Member
Lexus's Avatar
Join Date: Sep 2010
Posts: 9,279
Default Re: What are your thoughts on lawsuit loans?

A Lawsuit Loan Can Tide You Over
Litigation Funding May Provide More Time to Negotiate a Good Settlement

Lawsuit Loans are Expensive
Not All Cases Qualify for a Lawsuit Loan
Lawsuit Loans Are Usually Not Regulated Like Other Loans
Lexus is offline   Reply With Quote

Did you find this post helpful? Yes | No
Old 10-06-2019, 09:45 PM   #4
Posts: n/a
Default Re: What are your thoughts on lawsuit loans?

Good for the rich or "Big lawsuit guys" but not others.
That's how I see it.
  Reply With Quote

Did you find this post helpful? Yes | No
Old 10-12-2019, 09:45 AM   #5
Top Level Member
olive's Avatar
Join Date: Mar 2008
Posts: 1,284
Default Re: What are your thoughts on lawsuit loans?

I have no objection to the service but it is rarely used in the family law cases where it seems to me resource issues are a huge problem in the court system.

California has made some progress by making standard family law forms available for people to use--and that is very helpful--but all states need to make progress.
olive is offline   Reply With Quote

Did you find this post helpful? Yes | No


This thread has 4 replies and has been viewed 1064 times

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads

Thread Thread Starter Forum Replies Last Post
Personal Loans (secured and unsecured loans) ronaldobrown Off Topic Messages 14 12-09-2014 10:16 AM
Thoughts on leaving law biggestlaw Law News 0 07-14-2013 01:04 PM
Loans for Canada offers unsecured loans Janis7896 Off Topic Messages 2 10-16-2011 02:57 AM
What loan company will take over? My loans are government loans from Saillie Mae. loriajuarez Other Business and Finance Law Issues 1 08-12-2011 07:00 PM
Our thoughts and prayers to Don Haskins! judg4 Miscellaneous Topics 1 09-08-2008 04:15 PM

All times are GMT -5. The time now is 06:20 AM.

Use of the Forums is subject to our Disclaimer. Copyright 2009-2020 by