Decisions You need to make before Taking Lawsuit Loan

It’s hard to think yes but try imagining that you have been involved in a car accident in the state of Florida which caused you injuries. This will almost immediately put you out of work and at the same time, have mountain of bills to pay. Your best course of action is to hire a lawyer who can assist you in working on your claims. But it seems that it’s moving slow and you are in dire need of money otherwise, you’d have nothing to sustain for your medical and utility bills.

If used correctly, taking out a lawsuit loan can put you into an advantage. However, you have to be mindful with your actions on how it will be used.

Taking a Lawsuit Loan

It appears that there’s a solution to your problems. You have your lawyer and your lawsuit loan. The thing is, your lawyer is refusing to sign the documents from advanced settlement funding firm. Rather than your lawyer helping you to speed up the process, they seem to be the one who is hindering you from acquiring the money you deserve after the accident. What happened?

With the tough economy of today coupled with the ever-growing duration for making auto claims, it’s the perfect recipe for car accident victims to deal with financial hardships as they wait for their pending case.

Sure, there’s PIP coverage that will cover for things like:

  • Medical Expenses
  • Prescriptions
  • Mileage
  • 60 percent of lost wages of up to 10,000 dollars

Thing is, PIP coverage doesn’t pay for things such as electricity bill while the plaintiff is out of work and at the mercy of auto insurance claim to be resolved.

Ads from advanced settlement funding firms may seem to attract you like being the perfect solution to your problems. But like as what most say: If it is too good to be true, then it probably is”. This should be a warning for you and settlement funding loans are not an exception. So when you are in such, be sure to read the fine print thoroughly.

What’s Stopping Them?

Why does your lawyer cannot help you to get through this fine print? It’s simply because your lawyer thinks that it’s not a good idea. Whether an arrangement has been made between a funding company and client and has complied with all applicable statutes, it’s still a legal question. Therefore, the committee makes no comments with regards to the transaction’s legality.