Legal Funding - Frequently Asked Questions
How do I know if I need pre-settlement lawsuit funding?
You need lawsuit funding when you have exhausted ALL other possible options
and have nowhere else to turn.
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Are there any application fees?
No. We are happy to review your case and tell you the amount of investment
we would make. There is no obligation on your part until you decide
to accept our proposal.
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What does it mean to “invest in a lawsuit”?
LEGAL ADVANCES literally buys a piece of the future settlement proceeds
of your lawsuit. We give you cash today in exchange for a specific
amount of any settlement or judgment that is derived from the litigation.
If the case is lost you owe us nothing and keep our initial advance.
This is known as a non-recourse advance.
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Why can’t my attorney lend me money?
The American Bar Association prohibits attorneys from lending money to
clients for anything but case expenses. This prohibition exists to
prevent any conflicts of interest from arising.
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What role will LEGAL ADVANCES play in the management of my case?
LEGAL ADVANCES will play no role in the case strategy of your case. That
is left to you and your attorney.
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Does your company provide legal advice?
NO.
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What happens if I lose my case?
You owe us absolutely nothing. We risked our funds on your case
and we lost.
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Does my Attorney have to be involved in the process?
Yes. The cooperation of your Attorney is a MUST.
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How long does it take?
From the time we have all the information we need from the clients’ attorney,
we will have a decision within 48 hours.
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What are your interest rates or fees?
Our fees vary and are determined on a case-by-case basis because no two
cases are identical. Your repayment amount will be provided and thoroughly
explained to you and your attorney, prior to your signing and accepting
this agreement. We strongly suggest speaking to your attorney to review
this legal document.
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Are there any Additional Fees, such as Monthly Fees, involved?
NO! There will be a specific repayment amount, due and payable only after
the case resolves itself successfully.
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If I am approved, how do I get the lawsuit funding?
We will fax your Agreements to your Attorney’s office for signing
and execution. Once we receive the completed Agreements back we will
send your check immediately. We utilize Federal Express Standard Overnight
Delivery, to ensure a safe and efficient transaction.
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What, if anything, will LEGAL ADVANCES require from the attorney
after the deal is closed?
LEGAL ADVANCES will periodically call your attorney to update us on the
status of your case.
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If my case has settled, and I am just waiting for my check,
can you help me?
No. Our pre-settlement advances are designed specifically for cases PRIOR
to settlement.
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Why is this NOT A LOAN?
Loans are repayable absolutely. We purchase an interest, which is 100%
contingent upon the future outcome of the case.
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Do you fund cases that are currently on appeal?
We will be more than happy to review cases on appeal and fund those cases,
should they be approved.
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