Legal Funding For Lawsuits On The Rise: Explaining The Growing Demand
The lawsuit funding business is on the rise, and many companies are scrambling to meet the growing demand to provide cash advances to individuals in lawsuits that need funds until their settlement is reached.
What is Legal Funding, and How Does it Work?
It is common for people in lawsuits, specifically ones who are injured, have mounting medical bills, legal bills, are out of work, and need money to pay these expenses nonetheless have funds to pay for their monthly living expenses.
The lawsuit process can be a very strenuous time, and can take a toll on someone who has financial difficulties in the midst of dealing with their suit, trying to pay bills, and trying to make ends meat, especially if they are injured, out of work, or both.
Luckily, there are solutions for individuals who are seeking cash advances for their lawsuit. How it works is: A funding company takes a look at a case in its entirety, and determines whether or not the case has a good chance of winning. If it is determined that the case has a high chance of winning, in a time frame that is acceptable to the funding company, they will advance the individual without a problem.
Determining the amount that an individual is advanced depends on several factors. It depends on how much the individual wants, what the potential pay out is, the strength of the case, and when the case is likely to settle.
What Types of Cases Can Get Funded
Although auto accident & injury cases are the legal funding industry favorite, there are also many other types of cases that can get advances. Other types of cases include medical malpractice, divorce cases, general negligence, etc.
Equinox Legal Funding provides their clients with funding for their lawsuit, and ensures that their clients receive their advance within 24 hours of being approved. Visit: http://www.equinoxlegalfunding.com for more information.
# # #
Equinox Legal Funding provides cash advances to individuals who are pending lawsuits, and waiting on their settlement to be disbursed.