Lawleaf

Litigation financing can be defined as lawsuit funding against a pending personal injury and commercial litigation claim. The concept of litigation financing is a fairly new concept and more people now understand how it may benefit them in the long-run. While litigation financing is a short term fix to paying bills while a case is going through the legal processes, it can also allow a plaintiff the ability to leverage themselves in a heated litigation process.

Prior to the option of securing an advance against a case, plaintiffs had to make tough decisions whether to settle their case early or hold out for more money. While some plaintiffs understood a pre mature settlement was a bad option some people had no other choice. Insurance companies have the reputation of offering lower settlement amounts fully understanding a vast majority of Americans may be tempted to take a quick offer. While the offer is much smaller than the value of a claim, people that are financially struggling would be more susceptible to take the offer disregarding future expenses they may incur.

Litigation financing provides a financial stop gap to early settlement. While insurance companies are backed by deep pockets and tenacious defense attorneys, the average American is struggling to pay for bills and expenses directly related to the lawsuit. The insurance industry is a multi-billion dollar industry that seems to set record breaking margins each year. These margins have a lot to do with their ability to force plaintiffs into early settlement. There is no question that the insurance industry is adverse to litigation financing for good reason. If a plaintiff decides to secure a lawsuit advance and the insurance company is forced into the litigation process and takes the case to court, they may lose more than just the compensation that should have been paid. They will have to incur the costs of attorney fees and related costs in addition to paying full compensation for the claim.

Litigation financing is a way to shield off the lower settlement in hopes for fair compensation at a later date. While it may not be the best option for some people, its certainly a viable option for many.

The litigation process is fairly straight forward. While some companies may take a different approach LawLeaf’s processes are streamlined. The process includes an application by the plaintiff via an online form or call. Once the application is submitted we will require the attorney to submit case documents outlining the claim. These documents are used to assess the strength of the case and figure out the value of the claim. If there is clear liability chances are the client will be approved for litigation financing. At the time of the approval the underwriter will reconvene with the client in order to arrange for payment. The process can take less than a day to several days depending upon how quickly we receive the documents.

To find out additional information on litigation financing, begin by visiting LawLeaf today. 

LawLeaf provides litigation financing services for pending and already settled personal injury and commercial disputes throughout the United 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.