Lawsuit funding paid out in an installment payment plan
Whether you are out of work or working but struggling financially to pay medical and other bills while your lawsuit unfolds, daily and monthly expenses quickly add up. You must pay all your previous bills and expenses, in addition to new expenses, even if you are out of work due to a personal injury caused by no fault of your own. Litigation financing can provide the cash funding you need to pay for expenses like groceries, rent, gas, food, car repair, transportation, medical bills, and other daily expenses, without feeling stress and pressure to settle a case too soon.
What is litigation financing?
Litigation financing is a term used when when you receive money from a lawsuit funding company to cover bills and other expenses while your lawsuit is being litigated. Litigation financing can be used for anything you need it for. LawCash, the nation’s premier pre-settlement funding company, provides non-recourse lawsuit funding. LawCash lawsuit funding is not a traditional loan, where you must pay back the money you borrow. Rather, the term non-recourse financing means you pay LawCash only if you settle or win the case. If you lose, you owe the lawsuit funding company nothing.
Pre-settlement funding: Lump sum vs installment payment plan
The amount of time it takes to settle a lawsuit varies depending on the case and circumstances, but you can expect that it will take from many months to several years for the case to settle or be tried in court. If you receive legal funding, you can choose to receive your money as a lump sum or as an installment plan. If you choose a lump sum, this means you receive all your funding at once. You must have enough self-discipline to manage the cash funding and ensure it carries you throughout the entire duration of your case. Unfortunately, you may have several bills and other expenses that tempt you to spend most of your funding up-front, which may leave you struggling financially once again in the future.
Unlike many other companies, LawCash provides another alternative: a rolling contract, or installment plan, LawCash’s most popular pre-settlement funding option. When using this option, you receive your payout in smaller amounts spread out over the course of several months or years. This installment plan ensures that you receive some money over a substantial amount of time. Additionally, because you receive the cash funding in smaller increments, rolling contracts offer much lower rates than receiving your money in a lump sum. They cost the plaintiff less, even when the same amount of money is advanced. Should you win the case, the amount that you have to repay the lawsuit funding company with an installment plan is less than if you received a lump sum.
How you receive your lawsuit funding is up to you. Regardless of the option you choose, lawsuit funding will help you stop worrying about your financial situation and focus on getting better. If you or someone you know is in need of pre-settlement funding and interested in learning about our installment payment plans, give us a call at 1-800-LAW-CASH (1-800-529-2274) or apply here now.
