When you’re up to your neck in medical bills and legal fees, the last thing you want to do is research the laws surrounding consumer legal funding. You need money, and you need it soon—that’s why we wrote this article! Read on to discover what to know about consumer legal funding laws.
What Is Consumer Legal Funding?
“Consumer legal funding” is the same thing as “plaintiff lawsuit funding” or “pre-settlement funding.” If all those terms are equally foreign to you, don’t worry, it’s quite simple. Pre-settlement funding is exactly what it sounds like—funds you get before your legal case settles.
How Does Legal Funding Work?
Of course, the defendant doesn’t want to pay your settlement early, so a legal funding firm like Apogee Capital Partners steps in to foot the bill. Then, once you win your settlement, you pay them back with your winnings.
We know what you’re thinking: “what if I don’t win?” We’ve thought about that! Unless you win your settlement, you don’t need to repay a dime. That’s because pre-settlement funding is non-recourse. No settlement, no repayment—it’s as simple as that.
Guidelines Are Based on Your State
So, what about the rules and regulations surrounding consumer legal funding? That’s where things get a little less straightforward. Although legal funding is available just about everywhere in the United States, laws vary from state to state. Certain places like Maine, Nebraska, Ohio, Oklahoma, and Vermont have a lot of rules regarding plaintiff lawsuit funding, while others don’t have much on the books.
However, you can always learn about the legal funding by reaching out to your funding firm of choice. Our team is happy to answer questions and address any concerns you have.
Now that you understand what to know about consumer funding laws, consider discussing plaintiff lawsuit funding with your lawyer. You shouldn’t have to wait to get the money you’re owed.