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Litigation Funding: Plaintiffs
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Litigation funding is a thriving business. Many people are familiar with litigation finance, which was born out of an intrinsic need for plaintiffs and their attorneys to maximize the value of their litigation. However, the funding market has evolved dramatically in recent times. Funding companies have realized the growing need for legal finance for commercial litigation firms and law firms as well as plaintiffs.
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Litigation funding (sometimes referred to as pre-settlement funding, lawsuit loans, or lawsuit cash advances) involves advancing cash to a plaintiff based on the likelihood of the plaintiff winning his/her lawsuit. Not technically considered “loans”, these non-recourse cash advances can provide critical support to a plaintiff while they wait for their case to reach a verdict. Historically, funding litigation cases has been a very time-consuming process that required completion of an application which was then sent or faxed to a funds provider. Since the average funds provider declines 70% of inbound requests, this forces most plaintiffs, or the litigation brokers that represent them, to complete additional funding requests The entire process often takes weeks or even months to get approval for funding. By the time a plaintiff finally receives his/her cash advance, it may be too late.
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Litigation Funding offers financial resources to plaintiffs that are the victims of personal injury by the negligent acts of another. It is simple reality in the United States legal system that financial strength plays a significant role in the ultimate settlement or judgment amount of legal claims. Fortunately there are litigation funding companies like Global Financial (http://www.glofin.com) that offer funding services to Plaintiffs which can help level the playing field with deep pocketed defendants.
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The Funding Exchange™ is the only gateway to litigation funding today. Plaintiffs complete one application and based on your case type, state, and dollar amount requested you will be matched to the appropriate funding sources.
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Litigation funding companies offer a cash advance so the plaintiff can meet his or her immediate needs and their attorney can work unencumbered to settle his or her client’s case for the maximum value. This arrangement benefits both the plaintiff and the attorney.
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LFC, through its wholly owned subsidiary LitFunding USA, remains one of the nation's largest public companies specializing in the funding of litigation primarily through plaintiffs' attorneys. The company is in the litigation funding business making advances to plaintiffs' attorneys primarily in the areas of personal injury. A fee is earned when the lawsuits so funded are settled or otherwise concluded by a court ruling. At that time, both the funds advanced and the fee contractually agreed to are repaid to the company.
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