LAWSUIT ADVANCES
Lawsuit advances are done through 3rd parties, and not banks, and are therefore risk-free
When most people hear of the term lawsuit advances, they think they are being offered an advance to pay for a lawyer for an upcoming case. This is just one of many common misunderstandings about lawsuit advances. AM Legal Funding, the largest source of lawsuit advances in New York state, wants to clear up other misconceptions about lawsuit advances. Another misconception is that lawsuit advances are designed to prey on the injured and add to their debt. This couldn't be further from the truth.
AM Legal Funding offers lawsuit advances to victims of negligence who are having troubles paying their medical bills, or making mortgage payments, or have expenses piling up as the judicial system slowly waits and is manipulated by high priced defense lawyers backed by very large insurance companies who have no interest in negligence victims receiving a speedy trial. Other mistruths about lawsuit advances are that they are will add to the increasing debt of someone who is already facing extremely high medical bills, legal fees, and the other expenses that comes from negligence cases. Some people believe that companies like AM Legal Funding are looking to add to these people's financial duress. But the reality is that a lawsuit advance from AM Legal Funding can only benefit a person in financial distress.
Lawsuit advances have already forced defense attorneys to make larger offers to plaintiffs
In the first place, a lawsuit advance is entirely no obligation. AM Legal Funding will consult with your attorney and review the facts of the case and determine an appropriate offer. We will explain all of the rules of a lawsuit advance and it's the plaintiff's decision. Furthermore, if the case loses or no settlement is ever reached, the loan is forgiven. If the plaintiff wins the case, their financial situation improves (including repayment of the loan and interest). Even if the plaintiff loses the case, their situation doesn't get any worse because of a lawsuit advance. If nothing else, they were able to pay off some of their medical bills or replace some of those lost wages. Nobody is happy in a situation where negligence causes injury to someone. And society is worsened when that person is then mired in debt because the system lets them down. But lawsuit advances and AM Legal Funding are part of the solution, more than they are part of the problem.
The real problem are the insurance companies that exploit people's situations. They use high priced lawyers to delay cases by filing needless motions in the hopes of getting someone who is under terrible pressure to take a smaller settlement or to even abandon the case outright. AM Legal Funding doesn't claim to have all the answers, but a lawsuit advance can prove to be the difference between having to accept a substandard settlement and getting the justice you deserve. As always, an offer of a lawsuit advances is not guaranteed and no one is under any obligation to accept them if made.
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