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How Can You Determine Settlement Funding Costs?

Todays Date: October 18, 2018

Although customarily not the first question asked, it is a question on most, if not all, applicants’ minds. Much to the applicant’s consternation, there is no single answer to this question!

Costs incurred with settlement funding vary with the amount funded, complexity of the case, where the case is in the litigation process, the risks involved with the likelihood of a plaintiff’s verdict, and length of each case. Once your application is submitted, you and your attorney will be contacted to discuss your case in an effort to ascertain the foregoing.

Efforts will be expended to minimize risks with settlement funding, as is true in most situations in which money is advanced to an individual to pursue a specific goal. Failure to disclose previous funding frequently occurs. If an applicant has obtained previous funding, this is another factor that must be considered.

Many applicants, as well as their attorneys, want to know how a lawsuit loan will affect the judgment. There are a number of possibilities and we will discuss the most likely outcomes.

Once the settlement loan is provided, your case may settle for more than expected. This result would produce both a larger award for the plaintiff and, in most instances, a higher fee for the attorney.

If you have obtained settlement funding and your case settles for exactly what you expected, neither your recovery nor the attorney’s fee will be affected. Your ability to obtain a settlement loan is that you are able see the claim through to completion, and the recovery is likely to be larger than may have otherwise been obtained if limited finances had forced you to settle prematurely.

If you have obtained a lawsuit loan and you recover less than anticipated, you, as well as all involved parties, will likely receive less than you may have otherwise. It is important to realize, however, that it is unlikely that the defendant would have offered as much as you ultimately recovered.

If you are a plaintiff who obtains settlement funding and you obtain no recovery, you win! This is a non-recourse instrument, meaning that you only repay it if you obtain a recovery.

Looking to find the best deal on settlement funding, then visit us to find the best advice on settlement loans for you.

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