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, you should always think about when and how you will pay back the loan. With traditional loans, you will have to pay it all back within a certain number of months including an interest rate. This means you are paying back more than you borrowed (in some cases, significantly more).
People who might be unable to wait for their cases to settle may turn to one of these more traditional loan options, but if they lose their case, they will have to repay it.
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 this money. Here, we break down what happens if you lose your case.
Sometimes, despite the fact that your lawyer did their best to defend your case, you can lose. Even if a win seemed like a sure thing in the beginning.
You never know how things may turn around. Many things can impact the judge’s decision from the way the evidence is presented to the judge’s mood that day. Sometimes, details can determine the direction that a case goes in.
In some cases, it’s quite difficult to anticipate how the case will develop. All in all, things happen and it may not be exactly what you expected. This is why having a lawsuit loan is better than a traditional loan. If it turns out you lost your case, you will be immensely relieved you applied for a lawsuit loan and not a traditional loan from a bank.
It is difficult enough to be at the losing side of a lawsuit even without the burden of having to pay back the loan you took. We understand the stress and the worry that comes along with it.
That is why we do everything we can to support our clients and that is why we designed our lawsuit loans the way we did.
If you lose your case, 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 of money left. Unfortunately, that doesn’t always end up being the case no matter how hard we try.
You Don’t Have to Pay Back the Loan
The most important thing to emphasize here is that if you don’t win your case, you will not be expected to pay back the loan! We know this is terrific news.
Having lost a case and being stuck with a high-interest loan you now have to pay back is truly devastating for an individual. Fortunately, you will not be pressured or even at all expected to pay back any part of the loan if you lose your case. From the very beginning of the application process, our lawyers work with you to help how likely the case is to win. This is something your loan depends on regardless of the type of case.
In many cases, you can know ahead of time whether your case is going to be successful or not. But most importantly, we don’t leave you on the hook if you don’t win your case. This is one of the reasons why our lawsuit loan company is so successful. We are upfront and honest with you from the start.
You will only pay us back if you win your case. If, despite all the effort, you lose your case, we won’t expect any payback from you.
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The great thing about this type of loan is the fact you won’t feel any pressure if you lose your case.
To ensure that you get funds to cover your legal and other bills before the final settlement of your case,