Lawsuit Loans Vs Settlement Loans – How Much Does a Lawsuit Loan Cost?
Lawsuits against for-profit colleges are a familiar topic, and they’re not always a winning one. However, the rules have changed recently and it’s worth looking at the new rules so that you can avoid the worst of them. If you’ve been sued or think you might, read below to find out how you can take advantage of the lawsuit funding you receive from the lawsuit attorneys.
First of all, let’s look at how lawsuit funding companies work. The lawsuit funding companies will offer you a percentage (a “risk”) of what you’re seeking in a lawsuit. They make money by collecting on the risk they assume. In other words, if the lawsuit is won and you receive settlement payments from the lawsuit funding company, they get a percentage of those settlements. Thus, if you’re willing to offer your lawsuit funding company a percentage of your winnings, you can save yourself tens of thousands of dollars on litigation fees.
What’s the catch? Well, the new lawsuit funding rules have jolted the industry. Basically, the lawsuit funding companies can only claim to provide fifty percent of the settlements they promise to pay. The original lawyers agreed to a percentage only if the plaintiff was successful in receiving a settlement. Now, any settlement that is not expected to be paid may not be paid at all! Thus, if you’re suing a for-profit college, you could stand to lose a lot of money if your lawyer’s percentages don’t hold up.
The lawsuit funding company will not be responsible for your attorney’s fees, court costs, etc. They are not responsible for paying your living expenses or paying your childcare bills, but your lawsuit attorney will be responsible for these. A percentage of these expenses will go to the lawsuit funding company, which is why your lawyer will need to make sure his percentages are met. Remember: you will be left with no money after your lawyer takes a cut! So, be very careful when you’re deciding on which lawsuit funding company to hire. This is your case, and you should get what you’re entitled to.
But wait! There’s more to lawsuit financing than just finding a good lawsuit finance company. If you’re fighting a case against a for-profit college, don’t just hire the first lawyer you see! You need to seek out an experienced lawsuit funding attorney with experience in handling cases similar to yours. Don’t forget to ask how much his fees will run you – many companies will require a percentage, but some won’t.
There are also other options besides lawsuit loans, including lawsuit funding through the US government. The U.S. government can provide lawsuit loans that are backed by tax dollars. This can really come in handy if you can’t find a lawsuit loan that’s right for you. Of course, you should never take a loan out from the government unless you know exactly what you’re getting into. For more information about obtaining lawsuit loans and lawsuit funding through the government, visit the US Department of Justice’s website.