Over the last 10 years legal funding has been on the rise due to tough economic times. Most people whom apply for legal funding are looking to put money in their pocket to pay for bills or as a safety net in the event of an unfavorable result. Essentially there are four different types of legal funding options within the industry. While most of these options are refered as a lawsuit cash advance each has its separate term.

Pre settlement lawsuit funding is most commonly refered to as lawsuit funding. This type of loan is given to a plaintiff in a personal injury case prior to a verdict. When a lawsuit funding company provides pre settlement funding they typically provide it as "non-recourse. The term non recourse means the company does not receive payment unless the plaintiff wins compensation for the case. In the event the case never reaches a settlement and compensation is never awarded, the plaintiff owes nothing.

Structured Settlement is a loan against annuity payments. This type of funding is and has been very popular within the industry. Since there is little to no risk to the lender, most companies are willing to buyout partial or full annuity payments to the client. 

Commercial litigation funding is common when a person is going through the litigation process with a company. These cases typically include breach of contract, copyright infingements and wrongful terminiation. Unlike a pre-settlement cash advance in which the advancement is directly related to a physical injury, commercial litigation advancement is directly related to financial damages.

Law Firm Loans are common in the legal funding industry. A law firm loan also called attorney loans can be an advancement on an active personal injury case in which the attorney needs money to help pay for a long and drawn out litigation as well as for a personal loan to the firm to help expand their practice. 

Legal funding has become overwhelmingly popular over the last several years. The number of cases throughout the United States is on a rapid increase. Due to economic times many people throughout the United States are financially strapped and unfortunately haven't saved for a rainy day. There are other options that one may consider prior to applying for legal funding. A personal loan from a bank or applying for more credit through a credit card company are certainly other options one may consider. However, for those people that have poor credit or no credit, this may not be a viable option. In some cases legal funding bares a lower rate of interest than a credit card or bank loan and best of all its non recourse. Banks and credit card companies will never loan money on a non recourse basis.

If you are currently seeking lawsuit funding and you want our lenders to compete for your business, begin by applying online with LawLeaf.

We provide legal funding services for the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming and the District of Columbia D.C.