FL Personal Injury Litigation Funding

It is relatively easy to apply for litigation funding in a personal injury case; there are numerous resources where such request forms can be filled out. However, the patient must have exhausted all other options for obtaining money. This status is not that simple to achieve, since many families have no idea where to look for help in the first place. It is hoped their legal/medical team includes a social worker or advocate, who will have already listed the organizations (and their contacts) that might assist.

An initial application for litigation funding asks relatively simple questions, such as the event date, plaintiff's name, telephone number, e-mail address, street address, and the amount of the advance that is being requested. The application will then ask for a description of the event and where it happened. The contact information for the attorney handling the case must also be provided.

A decision to invest or not invest in the pending settlement, by providing an advance, is usually made within two or three days. That time frame is normal, assuming the funding company receives all needed information from the client's attorney. The injured person must usually have a pretty strong case with the likelihood that he will win.

However, the person injured should not sign any cash advance agreement until after the attorney has reviewed it. In part, this is because fees and interest rates vary from case to case. The advance must be a non-recourse advance, meaning that, if the case is lost, the injured person does not have to repay the money. However, if fees and interest rates are extremely high, even compounding monthly, the agreement should be rejected by the attorney and the client.