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Pre-Settlement Funding Cover Various Expenses
Shared 05 Jan 2025 12:33:26
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05 Jan 2025 12:33:26 User posted:
Pre-settlement funding refers to a financial arrangement that provides plaintiffs with cash advances while their lawsuit is still pending. Lawsuits can take months or even years to settle, and during that time, plaintiffs may face financial difficulties. Pre-settlement funding helps bridge that gap by allowing individuals to access funds before their case is resolved. This funding is typically offered to individuals involved in personal injury, product liability, or class action lawsuits, among others. The amount advanced is based on the expected outcome of the case, and repayment is only required if the plaintiff wins or settles. Since pre-settlement funding is a non-recourse loan, plaintiffs are not required to repay the money if the case is lost. This type of funding can cover various expenses, such as medical bills, living costs, and legal fees. Pre-settlement funding allows plaintiffs to focus on their case without the burden of financial stress, ensuring they are not pressured into accepting an unfavorable settlement just to cover immediate expenses.