LITIGATION FINANCING
Litigation financing comes with no risk for plaintiffs facing a negligence case
The number of negligence lawsuits in the United States are rising quickly in the USA for a number of reasons. The main causes are the state of the economy and the costs of medical care in this day and age. Because of this, every negligence case is fought to the bitter end. This is true of all cases, but especially true for cases that involve large corporations. When the insurance companies get involved, the problems become even worse. The common perception of a case isn't understood until someone is involved in a negligence case. It's an arduous process and dragged out as long as possible in the hopes of having a financially strapped plaintiff drop the case or settle at an undesirable amount. It seems logical, and perhaps ethical, that the insurance company would understand this and settle appropriately.
Today that isn't the way the legal system works today unfortunately. Cases drag on endlessly which only add to the costs of both sides, particularly large cases, and that's even truer for class action cases. The regular folks are the ones who take the blame for the negligence of these cases. Hospital bills continue to pile up. Doctor visits continue on and on and no money is left to settle these debts. Adding to the problem is the fact that a lot of people continue to miss work, it's a double whammy. The most certain of victories aren't reassuring because no one ever knows when the money will be received if appeals and motions continue. Times are changing and litigation financing has become a solution for people. Litigation financing is a cash advance. Having money in advance helps to alleviate the pressure and the case is better able to be fought.
Litigation financing helps to undo some of the inherent disadvantages that are present in the current justice system
Litigation financing is provided by a third party who evaluates the strength of the case. Fortunately, litigation financing is free to apply for. If approved, it is usually paid out within a few days and relieves the stress that plaintiffs are used to. AM Legal Funding, one of New York's strongest sources of litigation financing, reviews the case firsthand with the plaintiff and their attorney. The money is granted in cash and definitely levels the playing field. A lot of people assume that litigation financing is like applying for a bank loan, but that isn't the case. The money isn't a loan that needs to be paid back regardless of the outcome of the case.
The experts at AM Legal Funding assess the strengths and weaknesses of both sides of the cases and makes a decision quickly to assist the plaintiff. For whatever reason, if the case is lost or a settlement isn't reached, the litigation financing isn't owed back. The client isn't responsible for assessing the strengths of their case, AM Legal Funding is. The plaintiff only needs to worry about fighting the case and not assuming on new debt. AM Legal Funding doesn't take a plaintiff's credit rating into account either. Plus, the money can be used for anything; whether it be medical bills, replaced income, attorney's fees, or anything else. Once the client wins their case or reaches a settlement, the amount of litigation financing is paid back. The wheels of justice turn slowly, but litigation financing can help make a negligence case a fairer fight.
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