How can you get cash against a pending lawsuit other than legal advance companies?
mysticalfishseeksromeo asked:
I was involved in a very bad car accident in December 2006. I have a law suit pending, but am drowning in debt because of it. My case should be settled within the next few months, but I really need some cash now just to survive.
cash against a "pending lawsuit"? expect about a penny on the dollar or less. And expect the other side to not be interested in settling at all if you sell the debt in advance.
Why not make an offer to settle immediately? You will get less then otherise waiting, but more then if you sell the debt.
Way more.
You can't get money for "pending" suits. Reason being, you haven't won/been granted anything yet, no one knows what you're getting till you get an awarded amount, or if you'll get anything at all. Those advance comp's are for settlements already won that are not being timely on paying.
Auto cases can last up to 5 years btw. Wait it out, or take their offer.
The best option for debt trouble is negotiating your debts with your credit companies to keep the payments from swallowing all of your income. Typically, you have to get a counseling agency to call on your behalf. If you try to work with them yourself, many of them will not cooperate with you because you are not enrolled in credit counseling. Try. Good luck!
If you decide to apply cash advance try lawleaf web address -. I've recommended them in the past. They are a network.
The problem is there are no other types of financial institutions that will front cash for a pending lawsuit and certainly not on a non recourse basis. You can't go to a bank or credit card company and request funding for a car accident.
What you should know is that the rates for "car accident" cases are very competitive with other funding sources because they are less riskier than that of another personal injury related case. You can expect higher rates for other personal injuries and typically those rates are based upon if you are going to win. There are cases in which your interest rate may be even lower than a personal bank loan or credit card, you would be surprised.
My suggestion would be to wait until your case can settle because no one wants to pay interest regardless of how low the interest may be. Any type of funding whether it be lawsuit funding or a VC company (talk about high interest rates!) is better not use if you can avoid it.
Hope this sheds a little light.