Certain types of lawsuits have a higher likelihood of being won than others. Lawsuits can take a long time and be exorbitantly expensive. In these certain cases, there is an opportunity to get money in the interim before a final decision is reached. Pre-settlement funding, sometimes referred to as either a lawsuit advance or lawsuit loan, is when a funding organization gives you a lump sum in exchange for your right to either a portion or all of your settlement prior to a final decision in your lawsuit.
Some reasons people opt for pre-settlement funding:
The biggest benefit to pre-settlement funding is that in the event that you do not win your case, you typically do not owe the financing company anything.
While significant risk involved in pre-settlement funding is incurred by the funding organization, it can also be very costly to the plaintiff.
Caution should be applied when considering this option as it best serves those in dire and immediate need of money, and may not be in the best interest of others.
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