There have been over 2,500 exonerations for wrongful imprisonments in the U.S. since 1989. Getting your name cleared or otherwise receiving the right kind of justice is crucial and completely feasible.
With that said, finding the money to make sure you can stay afloat during the lawsuit process is tough. How do you find the money if you’re a little strapped for cash?
That’s where lawsuit funding comes in. It’s a unique and useful step to getting money immediately. Read on to find out the five biggest reasons why lawsuit funding is right for you:
What is Lawsuit Funding?
Lawsuit funding is very similar to a typical loan. It’s a cash advance that you get for your impending lawsuit.
There’s typically no collateral, which is one of the biggest factors. If an injury or accident causes you to miss work or increase your medical bills, lawsuit funding is often where to turn to first. If you’re wrongfully imprisoned or charged, you can also learn more here about how lawsuit funding is crucial.
Because you don’t have to repay the amount if you don’t win your case, lawsuit funding is a great asset for those undergoing the lawsuit process. Let’s take a look at five reasons why they’re so crucial.
Five Reasons Why Lawsuit Funding is Crucial
Lawsuits, no matter the type, can drag on for months, maybe even years. If you’re in a financial crunch, this can cause inordinate amounts of stress. Here are five reasons why lawsuit funding is crucial in this case:
Obtaining lawsuit funding is incredibly quick. Most estimate around two to three days before you get your cash.
A personal loan from your bank will take you days or weeks to clear different checks. This way you don’t have to worry about paying your bills on time.
- No Out-of-Pocket Cost
Unlike a bank loan, you don’thave to start reapying tour lawsuit funding amount until after the case settles. This means you can worry about more important things like your case and your job instead of paying back your lawsuit funding.
- Loss of Wages
Whther it was a freak accident at work or other injuries, you might not be able to work during your lawsuit. This means lawsuit funding can get you out of some tough spots, especially if you owe money for your car or home.
As such, lawsuit funding can help you manage your home and other assets without incurring any severe penalties.
- No Credit Requirement
Another benefit of lawsuit funding over typical loans is that you don’t need a credit check to obtain one. This means past credit mishaps won’t affect your chances of securing a lawsuit loan.
- Avoid Bill Collectors
There’s nothing worse than having to negotiate and deal with bill collectors as you navigate a complicated lawsuit. With lawsuit funding, there’s no pressure to repay them during the case, meaning collectors won’t be anywhere to be seen.
Leverage Lawsuit Funding Today
Stressing out over lawsuit funding is an unnecessary burden during a case. Use this guide to help you decide whether lawsuit funding is right for you.
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