Many clients contact us asking, “How long does it take to get either settlement loans or lawsuit funding approved?” The truth of the matter is that this is, at least a large extent, reliant on both the clients and their attorneys. The greater the cooperation from the client in obtaining requisite documentation, the more rapidly the claim will be processed.
There are several companies that offer lawsuit loans indicating that those individuals who seek lawsuit loans need only submit a one-page application. However, what these companies don’t bother to tell their clients is that the ability to obtain the funding requested will be contingent on the length of time it takes those companies to contact the clients’ attorneys. In most instances, this is much slower than when clients contact their attorneys themselves.
There are many individuals who have obtained pre-settlement loans who are quite aware of the fact that no monies are going to be advanced prior to obtaining and submitting required documentation. Legitimate funding companies are going to advance neither lawsuit funding nor settlement loans prior to knowing the nature of the case, the jurisdiction in which the case was filed, damages sought, expenses incurred, etc.
Fortunately, most lawsuit settlement entities provide ample notice to their clients that merely submitting a one-page application is not going to expedite application-processing of their applications. While it is true that one-page applications simplify the process, it is merely a ruse intended to capture the client, with little regard to the clients’ needs. It invariably takes much longer to procure necessary documents from legal representatives when the applicants are not involved. The most prudent course of action is to involve the clients early in the process. This will very likely decrease the amount of time required to obtain pre-settlement loans.
Of course, many of the entities that offers lawsuit loans are really more interested in obtaining a significant return on the monies they advance, irrespective of the client’s needs. Therefore, it’s quite easy to look at a case and make a determination as to whether they can advance $100 on the case. However, if the claimant is in need of a much more substantial amount (e.g., $100,000), then it is absolutely essential that the plaintiff work with those attempting to obtain the funding the request as quickly as possible.
Furthermore, bona fide litigation funding experts who offer lawsuit loans will make it unmistakably clear what issues are involved in procuring the lawsuit loans their clients seek. Although some cases may receive advances within 24-72 hours, this is the exception rather than the rule.
In reality, individuals who seek to obtain lawsuit loans are much better off working with those individuals who are willing to work diligently with both the clients and their attorneys to obtain the required documentation as quickly as possible. Furthermore, these entities will be open to communicating with those clients, in much the same way as a reputable attorney would, in a manner that makes the process clear, straightforward, and likely to produce a most favorable outcome. Failure to do so will often leave the plaintiffs in a situation that is virtually untenable.
It is true that both the lawsuit funding and settlement loans can be extremely beneficial to those individuals who are pursuing litigation. However, those individuals seeking lawsuit loans are best served by individuals who are honest about what will be required to obtain the funding they seek. Additionally, they will be forthright in letting the clients know how long it will take to obtain the requested funding.
In most cases, clients may anticipate a determination as to whether the lawsuit loans will be advanced within one week of the date the application is submitted. Of course, this assumes cooperation from all parties.
Looking for more information about lawsuit funding? Please allow us to provide more information regarding lawsuit settlement loans. Please stop by today, and you may either apply online for a lawsuit settlement loan or review our settlement loans frequently asked questions archive.
Related posts:
- Lawsuit Funding And Settlement Loans: Keys To Selecting An Appropriate Attorney.
- Lawsuit Funding And Settlement Loans: Why Is It Taking So Long?
- Lawsuit Funding And Settlement Loans: Why Is It Taking So Long?
- What Is The True Value Of Settlement Loans And Lawsuit Funding?
- Considering Lawsuit Funding, Settlement Funding Or Lawsuit Loans? Do You Need An Attorney?
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