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Being in the position of an injured litigant could get you in a difficult position. With no work, it is tough to manage your daily expenses and look to the case also. Your tough position is an advantageous point for the defendant. Usually, as an injured litigant, you will be facing a company that is insured. They try to delay the legalities as much as they can and give you the least amount of settlement.
Why Take Help of a Pre-Settlement Company?
Groceries, rent, mortgage, and other bills require timely payment and when you are unable to manage things you want to settle with whatever the defendant gives. However, if you take the help of a pre-settlement funding company, then things could get manageable. You will be able to fight the lawsuit with the support that you get financially from the third-party finance company.
What a pre-settlement funding company does is that it buys a part of your lawsuit in exchange for return once the case settles in your favor. The finance company takes a part of your claim only if once you have received the claim. However, if at all you lose the case the finance company makes no claim from you, not even for the amount that they gave you as an advance towards your case.
How to Pick a Pre-Settlement Funding Company?
While there are several funding companies that are available it is important that you take time and find out the right one. Picking a wrong financer could leave you drained of the entire claim that you have received from the defendant. Contact more than just a couple of funding companies and ask them specifically about their fees and rates. You will also know how professional they are when you interact with them. Ensure that you take the opinion of your lawyer because they too have the knowledge on how some of these companies work. He may be able to suggest you a few, but the final decision in picking one should be yours.
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