Litigation funding is one of the best options available for people in need of legal aid without a lot of money. If you or a loved one is currently involved in a personal injury lawsuit as the plaintiff, you may qualify for pre-settlement funding that can cover the cost of your attorney’s fees, medical bills, and even your living expenses. The best part is that litigation funding is non-recourse.
If that sounds a little complicated, don’t worry; “non-recourse” funding just means that it doesn’t work like a traditional loan. While you’re required to repay a normal loan (plus interest) regardless of the circumstances, you only need to repay a legal funder if you win your lawsuit and receive your settlement money. Read on to learn the eligibility requirements to receive litigation funding.
A Contingency Fee Attorney
You cannot receive litigation funding if you are not represented by a lawyer. In the same vein, you must also have a valid lawsuit in progress to be considered for legal funding.
An Eligible Case Type
Not all cases are eligible for litigation funding. At Apogee Capital Partners, we consider all cases, but our primary focus is on personal injury, slip and fall, MVA, and premises liability cases.
A Strong Case
The final thing you need to be approved for litigation funding is a strong case. Litigation finance firms want to provide funding to lawsuits that have the best chances of success, and their team will look over the evidence in your case before they decide to approve your application. The stronger your case, the more likely you are to be approved.
Interestingly, this review process can actually strengthen your case! When a litigation firm’s team looks over your case, they can talk to your attorney about the weak points in your lawsuit so they can be addressed when you go to court. This can help prepare you and avoid nasty surprises in the courtroom.
Now that you understand the eligibility requirements to receive litigation funding, contact a reputable litigation finance firm and get started on your application today!