Pre-settlement Advance

Written by Michael O'Brien
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Pre-settlement advances are available from legal funding companies. This funding enables would-be plaintiffs to retain legal counsel and begin the process of seeking a legal and binding settlement. It is advisable for people with valid claims, yet little money, to obtain legal funding to pursue litigation. There are many advantages.

Pre-settlement Advance Requirements

You may qualify for a pre-settlement advance if your case seems strong. Many factors are weighed in consideration of legal funding. First of all, what kind of case is it? Medical malpractice, wrongful death, and bodily injury cases are the most frequently backed by legal funding. This is because these cases have a wide range of variance.

Among the factors that are reviewed for legal funding are the case merits. If you wish to proceed with litigation because you sustained bodily injury in a car accident, the legal funding company will review all the details. They need to be sure that you were in no way at fault or a contributor to the accident. They also must be sure that your injuries could not have been sustained prior to the accident. Your case must be viable.

All Settled

The lawyer you retain will also be reviewed. He or she must have a strong track record of winning similar cases to be considered a good risk. If everything is in order, the suit will be funded and can move forward. Once the settlement is agreed upon, the settlement advance will be repaid from your settlement earnings. If you lose your case, the pre-settlement advance is simply lost. You are not required to repay it as you would be with a traditional loan.

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