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How Long Does It Take to Process an Application For Legal Funding?

A realistic and honest view of how long it takes to get your legal funding application processed is difficult to obtain. Usually getting the appropriate paperwork from your lawyer and processing it is what takes up most of the time. Mind you this can all be done in a day if everything is organized. Legal Funding is only granted if the contents of your lawsuit match the requirements of the lender. You should keep in mind and be aware that many companies try to lure you in with promises of fast cash, but this is usually unrealistic and can only be done with a handful of cases and that too with unfavorable terms towards the plaintiffs. 

Vulnerable plaintiffs that are struggling financially are easy prey for lawsuit loan lenders that just want to get them signed up for a lawsuit loan that benefits the lender. Aiming to get a large portion of your eventual settlement. 

If you have started your trial you might be dreading the small print as you can only think about the financial obligations being in trouble, not knowing where you are going to get next month’s rent, or even putting food on the table.

Get In Contact With A Legal Funding Company

First things first, you need to initiate the process by just picking up the phone or filling out an online form. We can not do anything without your permission, so this is a crucial point. You can also just call us to enquire to clarify any questions you might have. The legal funding financier will get in contact with your lawyer so you do not have to bother with the legalities.

Your Lawyer Will Supply All The Documentation

Your lawyer will deal with the legal funding companies directly and supply them with all the relevant documentation surrounding your case, this could be actual proof of an incident that has caused you harm. This is what will determine the overall length of your application process. If your lawyer has all the documents at hand ready for review by the legal funding company, this can reduce the overall handling procedure significantly.

Review by The Legal Funding Company

A legitimate legal funding supplier will only hand over large sums of money or monthly living costs after assessing the robustness of your lawsuit. This is because legal funding companies, unlike lawsuit loan companies, offer financial help with the security that their money will be returned from the settlement received upon the conclusion of your lawsuit. As a consequence, lending companies offer money on a non-recourse basis, which means if you do not receive your settlement for whatever reason, you will not be obligated to repay the funding supplied.

Legal Funding Supplied within 24 hours of Approval

As soon as all documentation has been reviewed and the approximate value of your lawsuit settlement has been determined, a legal funding financier will be able to get the funds to you usually within 24 hours. You are completely entitled to decide how you will spend this, see it as an advance of the settlement you will receive. You can pay your arrears in rent or mortgages, buy a new car or pay for surgeries. 

What Happens Next?

You can rest assured that all your bills are being taken care of and you can focus on recovering from the ordeal that you’ve had to face and get your life back on track. Plaintiffs facing tough legal battles can also be affected by relevant physical and emotional harm which can affect your life drastically. This is why it is important you know that if need be, you can lean on the robust shoulders of an esteemed legal funding financier.

Support Until Your Trial Concludes

However long the rehabilitation takes, a legal funding company will back you till you’ve received your settlement and it is common that they will back you for years to come. Standing by your side until justice has prevailed and you’ve got the compensation you deserve.

Settlement Awarded To The Plaintiff

After what sometimes can be a lengthy trial that goes on for months to even years, you finally receive your complete settlement. Your lawyer will receive the settlement initially and will pay the legal funding company and will give you the remaining balance. You will always receive the largest part when you’ve chosen a reputable legal funding company as they will never issue you with an amount large enough to eat into the majority of your settlement.

Contact Us to Clarify Any Unanswered Questions You Have

All of the above might be a bit overwhelming and you might have some unanswered questions. We have a team of experts that are ready to assist you. And cover all sorts of lawsuits, ranging from Slip and Fall, Medical Malpractice, Motor vehicle accident, pharmaceutical lawsuits, premise liability, FELA railroad, Jones Act, labor law, commercial litigation, and many others.  

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