LITIGATION FUNDING
Litigation funding is different than many other options people have when dealing with negligence cases
The odds are clearly stacked against the average citizen who is trying to collect damages for a negligence case in a court of law against a large corporation. There are many reasons why the well financed companies, their lawyers, and insurance companies have the advantages, but litigation funding is one way that the little guy has been able to level the playing field in these types of cases.
Litigation funding is an advance from a third party, on an expected award or settlement. This advance can offset the costs of a trial that would normally take months or years to eventually settle. During that time, the plaintiff in a negligence case can amass huge medical bills, lost income, or attorneys' fees. If those costs are simply accumulating, the pressure may force a plaintiff to accept a settlement that is unjust or, in some cases, force the to abandon the case altogether. Litigation funding can help with these costs and take away the main advantage that corporations and insurance companies have, which is time and money.
Bringing a third party into the current battles between plaintiffs and defendants will eventually level the playing field
Litigation funding is a relatively new industry, but it is rapidly gaining in popularity as it becomes more mainstream. Once the case eventually settles, the amount that is funded is paid back with an interest rate that is agreed to by both parties. Getting a quote on litigation funding comes with no obligation, so plaintiffs are free to compare and find the best rate. If they feel that the interest rate is too high, they don't have to take the deal. The best part of litigation funding is that the company assumes all risk. Court cases have no guarantees and if the case happens to end with no award or settlement, the litigation funder assumes all liability. In this way, litigation funding is different than a bank loan. Litigation funding is not an offer of credit, the plaintiff isn't assuming any debt if the case should turn out unfavorably. AM Legal Funding is one of the nation's best sources of litigation funding and their team of experts assesses each case individually and determines the likelihood of success by working directly with the client and their attorney. The process is quickly and is designed to alleviate the financial stress that negligence cases typically bring to plaintiffs and their families.
Decisions on litigation funding are made in under a week and in most cases, the money is available in less than a week. It is a service that no one realizes they need until their life is turned upside down by the rigors of a negligence case. Regardless of how strong a case is, the opposition takes as long as possible to delay matters with motions, continuances, and appeals. Unfortunately during that time, debts don't stop accumulating. Interest continues to build on medical bills and a person's credit rating can be affected. General household bills always keep piling up interest and it is often financially sound to opt for litigation funding rather than trying to fight the case and worry about paying things after the fact. Of course, litigation funding isn't for everyone,
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