Any legal battle can seem simple at first, and while you may enter into a lawsuit that seems like it will wrap up in less than two months, are you financially ready for two years of legal fees? You could be facing a legal battle that needs funding for an extended amount of time, and legal funding is made for these cases. Legal funding provides a non-recourse cash advance on your settlement that benefits you, your legal team, and your case. From traditional loans to pre-settlement legal funding, you have options while you wait for your case to be resolved. At Triumph Legal Funding, we can help you explore your options and determine what funding would serve your needs.
What Is Legal Funding?
Legal funding is not a typical loan. While legal funding provides you with upfront cash, you don’t have to pay back the borrowed amount until the case ends. This funding is like getting a financial boost when needed, so your lawsuit doesn’t lose fuel. Legal funding takes some of the financial pressure off, letting you focus on what really matters -winning your case and moving forward.
What Types of Legal Funding Are Available?
Navigating the legal system can be financially draining. Whether you’re facing mounting medical bills, lost income, or simply need funds to cover living expenses during the legal process, pre-settlement funding can provide crucial support. This type of funding offers financial assistance to individuals involved in legal proceedings before a settlement is reached, allowing you to access a portion of your potential award early on. By understanding the different types of pre-settlement funding available, you can make informed decisions and choose the option that best suits your specific needs.
Pre-Settlement Funding
This type of funding provides financial support to individuals involved in legal proceedings before a settlement is reached. If your lawsuit is still in progress, this funding will allow you to have early access to part of your expected settlement. There are options when it comes to pre-settlement funding, and by working with Triumph Legal Funding, we can help you understand which will provide you with the financial relief that best serves you.
- Non-Recourse Funding: The less stressful option as a borrower, non-recourse legal funding is a loan that you will only have to repay if you win your case.
- Recourse Funding: A more beneficial option for attorneys and law firms is recourse legal funding, which is a traditional loan with interest that you are obligated to pay regardless of the outcome.
Post-Settlement
When you’ve won your case, it can take weeks or even months for the funds to be processed and received in full. This type of funding gives you access to a portion of your settlement immediately, regardless of whether the full amount has been disbursed. This provides immediate financial relief and helps cover expenses that may have accumulated during the legal process.
How Does Legal Funding Benefit You?
Legal costs and lawsuits are expensive, and you may unexpectedly find yourself choosing between paying your attorney’s fees and this month’s rent. With legal funding, you don’t have to make that impossible choice. Legal funding helps you cover the financial burdens accumulated throughout the lawsuit but can also provide financial support for your legal team.
Pre-settlement legal funding can be used for:
- Medical malpractice
- Motor vehicle accidents
- Maritime accidents
- Pedestrian accidents
- Construction accidents
- Slip and fall accidents
- Specialty surgery
To be eligible for pre-settlement legal funding, you must have an attorney. An attorney can help provide the information that an underwriter needs to determine whether you are able to receive legal funding and the amount of the cash advance.
Learn More About Legal Funding Options Today
At Triumph Legal Funding, we can help support you when the financial burdens you face may be slowing down or stopping you from pursuing justice. By relieving these economic pressures, legal funding enables you to focus on recovery and your legal team to concentrate on the best possible outcome for your case. The litigation challenges shouldn’t stop you from receiving justice and the maximum compensation you deserve. Don’t settle for anything less than what your case is worth. Contact Triumph Legal Funding to explore your options for legal funding and level the playing field.