subject: How Can A Client Aid The Lawsuit Funding Process? [print this page] Lawsuit funding is one way for plaintiffs to receive money before a legal case settles. When the plaintiff is approved for this type of loan, they receive money from a special type of financing company that is not involved in the lawsuit. This company may give the person an advance before the case goes to trial so that they may pay living expenses, legal fees, medical bills and other invoices. Those hoping to qualify for these settlement loans may wonder what they an do to help the process move along faster. Here are 5 ways a plaintiff can help out the lawsuit funding process.
Communicate
Some attorneys always advise their clients against receiving lawsuit funding. This is often done without the lawyer understanding the reasons or circumstances for their client seeking a lawsuit advance. Some attorneys may feel that the client has lost faith in their ability to win the case if they are seeking lawsuit financing. It may simply be a matter of the person having no other alternative to paying bills without going into bankruptcy. When the plaintiff discusses the reasons for pre-settlement funding, their lawyer may become supportive of the endeavor.
Be Informative
When a client's attorney or the representative from the finance company requests information, the plaintiff should obtain it and pass it on as quickly as possible. Whether it is gathering records from an employer or just signing a release form, the faster all of the pieces of the puzzle are present, the faster the lawsuit can be evaluated by the finance company. Oftentimes, both the finance representative and the attorney need the same information to move forward. Securing it and making copies or scans if requested will help everyone involved in the plaintiff's legal and financial case.
Ask
The client should ask the financing company if there is anything that they can do to help move the process along. After the initial meeting, the answer will likely be no, but sometimes what may appear to be an obstacle may simply be a misunderstanding or the client may know how to get around it quickly, easily and legally.
Be Patient
Legal processes take time, as do financial processes. Lawsuit financing companies must sift through a lot of information before approving the plaintiff for an advance. Calling or emailing constantly to discuss the status of an approval is not helpful, and may only take time away from the case from being handled.
Understand
When a person seeks lawsuit funding, their case must be looked over very carefully before it is approved. The financing company's team may wish to discuss things with the client's attorney before making a decision. One reason for this is that if the plaintiff does not win a case going to trial, they do not have to pay back the money. As a result, the funding company wants to be sure that they are making the right decision. Some will only consider certain types of cases, such as car accidents and product liability. Sometimes funding is not approved simply because it is not a good financial risk for the underwriter. This does not mean the person cannot win their case. They should still have faith in the legal process and in their attorney.
