Everything You Need To Know About The National Lawsuit Funding Company
You’re headed to work on a seemingly-normal Thursday morning when another car suddenly crashes into the back of yours. Both you and the other driver are lucky to escape unhurt despite extensive vehicular damage. Which means you simply need to exchange details, file an accident report, and notify your respective insurers so they can sort out the mess.
But as is often the case with such matters, it soon dawns upon you that the other company is more keen on playing hard ball than paying up — even though their client was clearly at fault. So you’re left with no option but to go to court. And seeing how the wheels of justice tend to turn slowly, it could be weeks or months before that compensation check comes through. In the meantime, you’ll need to find an alternative way to ferry yourself to and from work, in addition to running errands. Where do you get the funds to make that happen? The National Lawsuit Funding Company might provide an answer for your woes and if not we review other Pre Settlement Funding Companies so you can find one that is the right for you.
National Lawsuit Funding is one of several firms that provides litigation financing. For the unacquainted, this is a specialized form of funding aimed at individuals who are plaintiffs in an ongoing lawsuit; and whose cases are expected to yield a settlement or judgment award. It provides a lump sum payment which a plaintiff could use to finance their case or foot bills as they fall due.
This helps relieve any financial strain that one might feel in the process, thus eliminating the temptation to settle for a low-ball offer or give up. Litigation funding basically empowers you as the plaintiff to stay put while your attorney fights in court to hold the other party to account. This significantly increases your likelihood of securing a fair, favorable outcome.
Now, we should probably highlight that litigation financing, though colloquially referred to as a “lawsuit loan“, isn’t like the kind you get from a bank or credit union. A traditional loan is extended under the condition that you’ll pay back no matter what. Qualification is also hinged on passing credit checks and meeting a few other requirements. Litigation funding, by contrast, imposes no such stringent demands. Eligibility generally comes down to the strength of your lawsuit, and whether or not you’re represented by a qualified attorney. And crucially, there’s no obligation on you to pay back the money if your case loses; this is known as non-recourse lending.
About National Lawsuit Funding
Founded in 2001, National Lawsuit Funding has over its 20+ years of operation provided a lifeline for thousands of plaintiffs across the country. NLF provides both short-term funding as well as lump sum cash advances that plaintiffs can use to pay for litigation costs, in addition to taking care of pressing bills. While it has its head office in Jenkintown (PA), the company’s services are available for plaintiffs in many different parts of the country, including:
– Florida: Tampa, Jacksonville & Orlando
– Houston TX
– New York
– South Carolina
Getting a Pre-Settlement Advance from National Lawsuit Funding
As noted earlier, litigation financiers like NLF don’t expect you to jump through a bunch of hoops when seeking funds. And with their two decades worth of experience, the company understands just how quickly things can get out of hand when you have a lawsuit underway. National Lawsuit Funding’s mission is to fund eligible plaintiffs in the shortest possible timeframe, and with the least amount of hassle on your part as the plaintiff. Here’s an overview of the company’s 3-Step funding process:
Step One: Application
To find out whether your case qualifies for funding, you’ll first need to submit your application via the company’s website. Here, you will fill out a form providing the following details:
– Your Full Name
– Your E-mail Address & Phone Number
– The Type of Case
– Your Attorney’s Name and Contact Details (Phone & Email)
– Amount of Funds You Wish to Receive
– A Brief Description of the Accident & Injuries Suffered Where Applicable
NLF expects to be able to get in touch with your lawyer when processing your application. You will be asked to provide consent for this, in addition to allowing the company send material to you via SMS and email.
Step Two: Attorney Cooperation
Once you’ve filled out everything and submitted the form, NLF’s staff immediately contacts your lawyer to commence evaluation. They’ll first ask for a few more details regarding the specifics of your case. This information is sent to the firm’s underwriting department.
Underwriters essentially calculate how much funding a plaintiff qualifies for, based on the merit of their case and the amount of compensation it’s entitled to receive. So it’s fair to say you have a good chance — as long as you have a solid case, and your attorney duly supplies the required information.
Step Three: Approval & Funding
As soon as NLF’s underwriting team have approved your case, a funding contract is drawn up and sent to your attorney for review. Once everything’s checked, the two of you will be asked to provide signatures to put the contract in motion. The company provides an e-signature service to help expedite this process, and funds are usually released within hours via a check or direct deposit to an appointed bank account.
So basically, the turnaround time will come down to how quickly you and your lawyer respond. The speedier the response, the sooner you’ll be funded, and the quicker you’ll be able to attend to those pressing demands.
How Much Funding Can NLF Provide?
According to the firm’s homepage, National Lawsuit Funding provides advances ranging between $500 and $25,000. The exact amount you will receive will depend on the strength of your case, once again. It’s worth keeping in mind that litigation funding carries a significantly higher interest rate compared to normal loans (up to 8.99% in this case). So don’t be tempted to apply for an unnecessarily-high advance just because your case is solid.
We should also point out that interest rates are a reflection of risk. Litigation funding, being non-recourse, carries a higher level of exposure from a lender’s perspective — it’s this aspect that necessitates the steeper rate. And for what it’s worth, you still stand to receive a fraction of your settlement after deduction of the advance as long as you do the math right beforehand.
What Types of Cases Does National Lawsuit Funding Cater For?
Check that your case falls into one of these categories before you apply:
– Motor Vehicle Accident
– Pedestrian Accident
– Slip-and-fall Lawsuit
– Nursing Home Neglect
– Class Action Lawsuit
Get in Touch With National Lawsuit Funding Today
If you’re in need of a quick cash advance pending the decision of your lawsuit, NLF will be more than happy to provide a free consultation. Visit the firm’s website at https://www.nationallawsuitfunding.com to learn more about your options.