With this money, you can pay for your everyday expenses such as legal fees, medical bills and mortgage loan and other expenses that require immediate payment.
The best part is that you don't even have to repay the money if you lose the case in the court.
It is completely a win-win situation.
There are plenty of lending companies that offer this kind of services, just Google the keyword "lawsuit cash advance", and you will be surprised to see the search results.
Lawsuit cash advance is also known with various other names such as lawsuit loan, pre-settlement cash advance, and others.
This type of cash advance is non-recourse in nature, implying that one needs to pay the money back only if he manages to win the case, otherwise he owes nothing to the lending company.
The process of applying for a lawsuit cash advance is quite simple.
Complete an online application provided by the lending firm, with complete description of your case and lawyer's information.
The lending firm will then send you a release form to sign, which will authorize your lawyer to release the information of your case to the lending company.
After you have submitted the required documents, they will review your case, evaluate your chances of winning the case, and then decide whether or not you are eligible for the lawsuit loan.
The approval of application depends only on the strength of the case, and it has nothing to do with your credit record.
There are no employment verifications and credit checks at all, which means you can apply for the cash advance even if you have a bad credit history.
The entire procedure, from the submission of application form to the final approval, takes approximately 48 hours.
Once your application has been approved, you can get the desired amount of cash from the company; you can get up to $500,000.
Without lawsuit loan, you may be forced to accept less than what you really deserve, most probably an amount which will not cover your medical expenses.
With litigation funding, you can have the money required to pay for medical bills upfront, and you will be able to wait for fairer settlement so that you can pay back the rest of medical expenses after the case is settled.
The only downside is that the interest rates are usually very high for this kind of cash advance.
So, it is suggested to first evaluate other alternatives, and choose this option only as a last resort.