What Happens To Your Lawsuit Loan If You Lose Your Case
For many people, taking out any kind of loan comes with a lot of things to think about. First and foremost, it’s always imperative to think about how and when you will pay back the loan. In most traditional loan situations, you will be bound by a particular number of months to pay it all back, as well as a particular interest rate making the amount you pay back far more than what you borrowed in the first place. For some people who might be unable to wait for their cases to settle, they may turn to one of these more traditional loan options, but in the event that they lose their case they will be stuck with paying it all back just the same. When it comes to pre settlement funding and lawsuit loans, this is not the case. In fact, there is a whole process that occurs when you lose a case that will ultimately help you in the long run so that you don’t have to worry about finding all of this money somehow and some way. Here, we break down all the things that happen in the event that you lose the case that you borrow against when it comes to lawsuit loans.
Give All the Information You Have
First off, the most obvious thing to try to do is of course make the effort not to lose your case. In so many personal injury and workplace dispute cases, having missing pieces of information can sometimes be the difference between whether or not you’re able to win a case or not, so it is always important for you to provide as much information as you possibly can to prevent that from happening. Think about all of the details that you can possibly recall. It’s always better if you’re able to write them out as soon as it happens, or even file a report very early on in the process and going from there. It’s always so much better to retain that kind of information when it’s all fresh in your mind as opposed to trying to get it all back when you need it the most. Consider making use of the notes app on your phone, or even taking photos, videos and audio recordings when need be. You might need to ensure that you include identifying information in any of these things so that there is a way to make sure that it is the real thing and not staged or anything like that. While it might not be the end all, be all of why you lose a case, it’s always a better idea to have too much information than too little. Even something as simple as the time of day that something occurs can make or break a case. You might recall something happening “around 2 PM” and the defense is able to give an alibi for where their client was at 1:55. It is those situations that make the whole thing that much more difficult, so to avoid any of that, it’s always best to make sure that you have everything that you need.
Even having all of that doesn’t always prevent things from just going slightly awry. Ultimately, everything from the way the evidence is presented to the judge’s mood that day could determine the direction that a case goes in. It can sometimes be very hard to tell just how the outcome of a case will be despite assumptions that it will go positively at the very beginning. All in all, things happen all the time that might not be exactly what you expect to happen, and it’s always great to have a lawsuit loan on your hands than a regular loan in that instance.
More than anything, we know how tricky it can be to get a case together and bring it to win in front of a course. It’s not an easy task and depending on what the purpose of the case is, it can be personally taxing thins as well. It’s important to know that your lawsuit loan funders understand you and will largely be there for you every step of the way! It might not always go as planned, but a lot goes into each and every case that is sent to us, so we ultimately understand the final verdict and know that you will be in need of some kind of support in the long run. The one saving grace is that in the event that you lose out on the case itself, you will not be expected to pay back any part of the loan at any time. Of course, this pushes our attorneys to get you the justice you deserve, often aiming for settlements much larger than the amount you owned so you can repay your debt and still have plenty left over. That doesn’t always end up being the case, however it’s always apparent when the maximum effort is made.
You Don’t Have to Repay
The most important takeaway from this is that in the event that you don’t win your case, you will not be expected to pay back the loan, which is always a good thing! You don’t have to be stuck with the burden and cost of paying back these loans that you would otherwise not be able to afford in the even that you are not successful in winning your case. You might try to pull out all the stops, but there are sometimes when it just doesn’t come together and you should be prepared for that. Thankfully, you will not be pressured or even at all expected to pay back any part of the loan should you lose your case. From the very onset of applying, our lawyers work with you to help in determining the likelihood that you will win your case. It’s something that your loan pretty much hinges on no matter what kind of case it is and for the most part, you will be able to know ahead of time whether or not you will be successful. The best part is, unlike other loans you will not be left on the hook in the event that you don’t win your case. It’s something that’s important to remember before even applying! Generally in a lot of these kinds of court cases, someone is suing because the incident negatively impacted their lives in a monetary way. It either left them unable to work to their full capacity or at all or it left them with medical bills that eats away at their disposable income, and maybe even their savings. In any event, it’s normal to not be able to wait until the end of your settlement process in order to get your funding.
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The great thing about this kind of loan is a simple fact that the pressures of it no longer apply to you if you do not win your case. Of course, this doesn’t make it a free for all – lawyers working to get your funds are betting against the likelihood that your case would win. They strive to get you the justice you deserve and then some
To ensure that you will be funded before the final settlement of your next big case,