Find out if you're eligible or not to let yourself into a lawsuit considering pre-settlement funding
Not every individual is eligible for lawsuit funding.
This means that there are certain factors that determine who is.
Some of these factors, or perhaps requisite qualifications, include the following:
In order for you to receive lawsuit loans, you must have suffered personal injury. Such an injury must be of specific type: an injury from an automotive company or a personal injury as a result of violation of rights in the work place.
In this regard, the third party funding company will invest in your case and give you an advance fee (not a loan), in order to oversee your case.
In other words, this funding is almost the same as unsecured loan, but it's not actually a loan of any kind.
If you want to receive this kind of funding, then it's always prudent to approach a highly experienced attorney. Besides, the attorney must agree with the third party company and agree to sign or rather enter into an agreement with the funding party.
However, some Lawsuit Funding companies would definitely advise their clients to go for their attorneys in order to become eligible for such funding.
In order for you to receive this kind of an advance funding, it's important to look at the nature of your case. If your case has strong merits and sufficient evidence, then you're probably eligible for lawsuit funding.
On the other hand, the company or person sued must be willing to pay for the damages. They must be able to pay for the outcome of the case, depending on the ruling and outcome of the court.
Even though a lot of people are aware about this kind of third party funding, many of them still find it difficult to apply for it.
This is not because funding companies aren't available, but because many clients are not aware about the procedures on how to apply for lawsuit funding.
First and foremost, if you want to apply for this kind of funding, then it's good to obtain an application form from the funding company and fill it accordingly.
Secondly, ensure that you have all the attachments required: a letter from the attorney, the amount you want to be funded, a copy of attorney`s letter outlining obligation to the third company, and lastly - a copy executed general release between you and the defendant.
Then you can submit your application.