When you’re engaged in a trying lawsuit, the last thing you want to think about is how you’re going to pay court costs, attorney’s fees, and the medical bills that stack up after an accident. Unfortunately, if you want to win your settlement, you need to keep paying all the ongoing expenses to have a chance at recouping your losses.
Luckily, litigation funding can help you get through this difficult time and come out stress-free. Read on to learn a few things to consider before applying for litigation funding.
What Is Litigation Funding?
Before you can decide whether you want to apply for litigation funding, it’s essential to understand the process. Litigation funding is a cash advance you can use to pay for the expenses that come along with a personal injury lawsuit. When you stand toe-to-toe with wealthy individuals who don’t want to lose their case, you need someone in your corner funding you.
People with money can make it very difficult for the average citizen to win a case. When that happens, there isn’t much to do other than accept that you can’t afford to continue—unless you have litigation funding.
What Is Non-Recourse Funding?
Many people think of litigation funding like a personal loan. It makes sense to draw that conclusion, since litigation funding is money you receive as an advance. However, there are a few major differences.
Say you take out a personal loan because you want to pay for an upcoming vacation. Then, one thing leads to another, and you can’t take the vacation. Unfortunately, the lender still wants their loan back, plus interest. Now, you’re out more money, and you didn’t even get to go on your trip! This situation is similar to what could happen with a lawsuit—you get a loan to pay for your fees, and then lose the lawsuit.
With a personal loan, you’re expected to pay the money back, even though you didn’t get the settlement money you were expecting! When you have medical bills on top of legal fees, that can be truly devastating.
Fortunately, litigation funding is non-recourse. “Non-recourse funding” means that you don’t need to repay a dime unless you win the case. It works like a contingency attorney—if they don’t win the lawsuit for you, you don’t need to pay them. The only situation where you need to repay your funder is if you win your settlement (which means you’ll definitely have the money to pay).
Litigation funding isn’t here to create more problems for you—it’s here to make everything easier.
When Do You Need the Money?
In a lawsuit, time is of the essence. As litigation funders, we understand that. That’s why we created an application process that takes less than five minutes. We also approve funds in as little as 24 hours! If you need money quickly, litigation funding is one of the best ways to get it.
What Do You Need the Money For?
Certain types of loans come with stipulations—you need to spend the money on this, you can’t spend the money on that—you don’t need to worry with litigation funding. In your application, you simply tell us how much money you’re requesting. You don’t need to tell us what the money is for, whether it’s hospital bills, lawyer’s fees, or even basic living expenses.
With no credit or background check, our application process is easy, and you can finish it in under five minutes.
Does Your Case Match Those the Funder Accepts?
Many litigation funding firms offer funding to specific plaintiffs, but we consider any type of case. Our main focus is on personal injury, slip and fall, MVA, and premises liability cases, but feel free to apply even if your case isn’t on that list.
How Long Has the Funder Been in Business?
It’s crucial to find a reputable lender for plaintiff litigation funding—someone who has been in the business for some time. That way, you can rest assured knowing your information is in good hands and that you’ll receive your money without hassle.
Apogee Capital Partners has over 50 years of experience in healthcare, finance, and patient services—we know what we’re doing!
Do You Have an Attorney?
Before you can be approved for litigation funding, you need to have an attorney. In the application, you’ll fill out the attorney’s name and phone number. If you don’t have an attorney yet, that’s OK. We have a network of attorneys, so you can reach out to us for the list!
Has the Lawsuit Begun?
In addition to having an attorney, that attorney must also begin the lawsuit proceedings for your case to be considered at Apogee Capital Partners.
Can You Win the Lawsuit?
Things would be a lot easier if you knew for certain you will win the lawsuit. While it’s impossible to guarantee a successful lawsuit, we have a team who can analyze your case and determine whether you’re likely to win. If they find you are, your funds will be approved in no time!
Does the Funder Take Control of the Lawsuit?
No—you and your attorney retain all decision-making ability for the case. The funder may offer suggestions to help you win your case, but they are not allowed to take control of the lawsuit. Our mission is to help you manage your lawsuit the way you want to run it—we provide the capital; you make the decisions.
Do You Need To Share Confidential Information?
You may need to share some information with the funder to receive litigation funding. However, you and the funder can protect your information so long as you take the necessary steps. A confidentiality agreement will be crucial in this case. We don’t want to compromise your case or your information—rest assured we’ll do everything in our power to keep your case details safe.
Now that you know these things to consider before applying for litigation funding, contact a reputable litigation funding firm and get the help you need to finish your case strong.