How Can Litigation Funding Close the Wealth Gap in the Legal World?
With personal injury lawsuits becoming more and more common each and every year, individuals across the tristate area have filed a record number of civil lawsuits in the past few years. And with car accident numbers, slip and falls, dog bites and general accidents on the rise, it’s actually a good sign and shows that society is taking steps to resolve disputes and other issues using far more civil means, as opposed to simply arguing or maybe even taking violent actions against one another – leading to even more chaos. However, with issues such as the coronavirus, and an economy in some flux, especially with the new regime having taken over the white house in the midst of all this, many individuals across the tristate aren’t doing well financially, and coupled with issues surrounding accidents and more, many of us are certainly in an incredible hole financially. There is one saving grace in all of this, known as legal funding. As we have discussed in the past, legal funding or litigation funding, has been able to help countless individuals during their most dire straits, in which they may be in the most need for cash – especially if the accident for which they need to file in suit in the first place has left them unable to attend work and earn a living. According to the team at Express Funding of America, known to provide the best litigation funding Connecticut has to offer, with advanced funds provided to the client, individuals are able to attain access to money that can not only help them to pay legal bills, court fees and fund their lawsuit overall, but it allows them to pay bills, and have the financial cushion needed to properly argue in court, and attain the best possible settlement they can. Despite how valuable a form of litigation funding is, many prospective clients are relatively unknowing of what it actually entails. In this article we will explore litigation funding and how it might help you in your quest for justice and damages.
What is Litigation Finance?
For many individuals who need cash loans now Hoboken experts at Express Funding of America have been able to help them get access to tens of thousands, in advance of their lawsuit settlement. The fact is that when it comes to individuals who need cash loans now Hoboken experts at Express Funding can get them their advanced cash in as little as 24 hours! Litigation finance (also called litigation funding) is the practice where a third party unrelated to the lawsuit provides capital to a plaintiff involved in litigation in return for a portion of any financial recovery from the lawsuit. When it comes to litigation funding Connecticut experts at Express Funding help their clients to unlock the value of legal claims by providing capital to plaintiffs before their cases are resolved. This type of financing has existed for more than 20 years and is increasingly becoming a mainstream funding solution that helps equalize access to the legal system. Fortune 500 companies, major universities and businesses of all sizes have benefited from commercial litigation funding. The capital provided by monetizing a legal claim may directly pay for some of the costs of litigation, including attorneys’ fees, expert witness fees and court expenses. Litigation finance may be used to fund working capital for companies involved in litigation or even help business owners pay for personal expenses.
The Wealth Gap
The fact is that when it comes to the legal system, it’s a rich man’s world, and no matter how much of a case someone might have, unless they are able to find someone to fund their lawsuit, or an attorney who will work on contingency and cover any fees or costs involved they are likely to lose the case. With litigation funding Connecticut and other tristate plaintiffs are able to gain equal footing with those with far more means than them. For those who are in need of cash loans now Hoboken experts at Express Funding often warn that, even after finding a contingency lawyer, as many personal injury lawyers are, doesn’t mean things will be easy. A personal injury lawsuit can involve all types of things such as attorney fees, research, depositions, interrogatories, motions, conferences, witness preparation, trials, subpoenas, appeals, as well as expenses associated with court fees, consultants, and investigations – and these costs can mount up quite a bit, while also being vital to filing a proper case. By having access to the funds early and on a non-recourse basis, meaning they don’t have to pay them back unless they win their case, it can be the shining light that many average citizens need to manage their issues. For more information on litigation funding and more, be sure to contact Express Funding of America today.