June 8, 2010
Lawsuit Funding And Settlement Loans: When Will I Get My Money?
Many individuals contact us wanting to know, “When will either the lawsuit funding or settlement loans requested be obtained?” In reality, both the clients and their attorneys play the most significant role in making this determination. When both clients and their attorneys are cooperative, this process may proceed quite smoothly and take very little time.
There are several companies that offer lawsuit loans indicating that those individuals who seek lawsuit loans need only submit a one-page application. However, what these companies don’t bother to tell their clients is that the ability to obtain the funding requested will be contingent on the length of time it takes those companies to contact the clients’ attorneys. In most instances, this is much slower than when clients contact their attorneys themselves.
There are many individuals who have obtained pre-settlement loans who are quite aware of the fact that no monies are going to be advanced prior to obtaining and submitting required documentation. Legitimate funding companies are going to advance neither lawsuit funding nor settlement loans prior to knowing the nature of the case, the jurisdiction in which the case was filed, damages sought, expenses incurred, etc.
Fortunately, most lawsuit settlement entities provide ample notice to their clients that merely submitting a one-page application is not going to expedite application-processing of their applications. While it is true that one-page applications simplify the process, it is merely a ruse intended to capture the client, with little regard to the clients’ needs. It invariably takes much longer to procure necessary documents from legal representatives when the applicants are not involved. The most prudent course of action is to involve the clients early in the process. This will very likely decrease the amount of time required to obtain pre-settlement loans.
Those companies that offer lawsuit funding and settlement loans by merely having clients submit one-page applications are often simply interested in obtaining substantial returns for the very small amount of money that will be advanced, irrespective of the clients’ needs. There is very little effort involved in making a determination as to whether a case is worth an advancement of $100. Those clients seeking substantial lawsuit loans (e.g., $100,000) must work closely with reputable brokers and funding entities to obtain the requested funding as quickly and as efficiently as possible. This certainly will require more than a one-page application.
Furthermore, bona fide litigation funding experts who offer lawsuit loans will make it unmistakably clear what issues are involved in procuring the lawsuit loans their clients seek. Although some cases may receive advances within 24-72 hours, this is the exception rather than the rule.
Individuals who are serious regarding pursuing and receiving lawsuit funding and settlement loans would be judicious in selecting those lawsuit funding experts with whom they are able to work alongside to obtain the necessary records as quickly as possible. Furthermore, credible litigation funding experts are more than willing to assist their clients in understanding what it is that they must know to obtain the lawsuit loans they seek.
Undoubtedly, lawsuit loans may prove extremely beneficial to those who are pursuing litigation. On the other hand, those individuals pursuing pre-settlement loans are best-served by funding-entities who work with integrity to ensure that their clients fully understand what it is that will be required to obtain the lawsuit loans requested. Furthermore, they will ensure that their clients are aware of the length of time it takes to obtain lawsuit funding and settlement loans.
In the vast majority of instances, individuals will receive a response to the request for lawsuit loans within one week. Naturally, this assumes that there has been cooperation between all parties, to include funding-entities, clients, and their attorneys.
Looking for more information about lawsuit funding? Please allow us to provide more information regarding lawsuit settlement loans. Please stop by today, and you may either apply online for a lawsuit settlement loan or review our settlement loans frequently asked questions archive.
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