Get to Know What a Lawsuit Loan Is:
Lawsuit loans act as the as a financial bridge through allowing plaintiffs and also law firms to receive a given cash advance on the expected proceeds of their current case. This type of settlement loans usually is provided through a lawsuit funding company. The lawsuit company in exchange is deemed to get a share of the proceeding s of the judgment and settlement. Mayfield Settlement Funding is one company of its kind, comes in hand through their excellent customer care to offer you the best and quick non-recourse legal funding which is not at all a loan. There is no need to worry as the only collateral on this cash advance will be your lawsuit itself, nothing more.
Lawsuit loans better known as lawsuit cash advances ` are offered with the primary aim in ensuring you as the plaintiff do not undergo any form of stress related to financial constraints due to an injury sustained earlier as you await award of the settlement as per the proceeding of the lawsuit. A lawsuit loan comes in to relieve you of certain living expenses, car loan payments. Large sums of funding provided by the lawsuit company will enable you to settle, medical bills and service your pending mortgage payments.
What Makes a Lawsuit Cash Advance Different from A Loan?
A lawsuit cash advance is very different from a loan as people might confuse between the two terminologies. Unlike a personal loan, for the lawsuit loan, the amount of money issued to a plaintiff does not have to be paid back if the event that the lawsuit goes to trial and the plaintiff loses their case. Besides, lawsuit loans cannot be reported to credit bureaus since they are initially not a real loan thus your credit status is not at all affected.
Top Advantages of Securing a Lawsuit Loan
Lawsuit loans have several benefits that make them ideal to make the personal injury lawsuit process more manageable even when the hearing period get prolonged due to unavoidable circumstances
- Lawsuit loans are risk-free
Lawsuit loans follow that you only pay if you win this with no repayment if you lose it is like you keep the money for free. When the lawsuit goes to trial, and the plaintiff loses, the third party funding company receives nothing and loses the money they had invested in the case. No physical form of collateral is required to guarantee repayment since lawsuit loans use the money you expect to receive in the settlement as the collateral hence it is ideally free of any risks.
- Lawsuit loans tide you over just at the right time
Many are times that due to injury, the plaintiff may suffer income loss, thus forecasting an impending financial crisis soon. Mayfield comes in hand to provide this incentive when you need financial assistance the most. They give your much need breathing space to enable cover living expenses, car loan payments and future legal fees during the lawsuit.
- It is fast and easy to apply and get approved for a lawsuit loan
At Mayfield Settlement Funding company, they always have you in mind by giving your case substantive attention to speed up the approval within 24 hours. You relax as Mayfield works in hand with your law firm to get you approved. Free guidance offered by their customer care team makes it easy to apply for a lawsuit loan, get the case reviewed and finally get approved without much hassle.
- Lawsuit loans have low rates and simple terms
Another beneficial thing is the low rates of 2% to 3% per month and the simple terms attached to a lawsuit loan. Again lawsuit funding does not include hidden fees, upfront fees or fine print.
- Lawsuit loans give you more time to negotiate for a reasonable settlement
By helping the plaintiff relieve financial stress, the lawsuit loan also makes it possible for both the plaintiff and attorney to take more time and negotiate with the defendant. If the defendant does not offer a fair settlement, a lawsuit loan acts by giving you the financial wherewithal whereby you can now proceed to trial.