Legal Funding 101: What Plaintiffs Need to Know
When you're in the midst of a legal battle, especially after an accident or injury, the financial strain can become overwhelming. This is where legal funding comes in. Legal funding is designed to provide plaintiffs with the financial support they need to cover their expenses while they wait for their case to settle. Here’s what you need to know about legal funding. What is Legal Funding? Legal funding , also known as lawsuit funding or pre-settlement funding, is a financial option that helps plaintiffs obtain money in advance of a legal settlement or award. It’s not a loan—there are no monthly payments, and the amount is repaid only if the plaintiff wins the case. Legal funding is typically used for personal injury cases, class action suits, and other types of litigation where the plaintiff might face a lengthy legal process before receiving compensation. How Does Legal Funding Work? Legal funding is a simple process, but it’s important to understand the steps involved. After cont...