Financing a Lawsuit
If you have been injured as a result of medical malpractice, an automobile accident, or another type of accident, you might want to file a personal injury lawsuit. This can help you to get money that can compensate for the emotional and physical damage that you sustained as a result of the accident. However, a personal injury lawsuit is not always a short process. You could be waiting months or even years for compensation. What should you do in the meantime, when there are bills to pay? This page will help you understand how to finance a pending personal injury lawsuit.
Finding an Affordable Lawyer
It’s no secret that personal lawsuits can be expensive, especially when taking into account lawyer fees. The good news is that many lawyers, such as those at our office, are willing to be flexible. Many personal injury lawyers work based on a contingency fee, meaning that your lawyer only gets paid if your case is successful. That is an option that you can explore when searching for an affordable lawyer.
Getting a Cash Advance
In addition to finding an affordable lawyer, you might be able to get a cash advance from a financing company. Some financing companies will offer a cash advantage on cases that they think have a high chance of being successful. If you win your lawsuit and receive money, you have to repay an agreed-upon fee (usually 15% or lower) in addition to the money that you borrowed from the financing company. However, if you lose your case at trial or if it doesn’t settle, you don’t have to pay the money back. This makes seeking out a financing company for a cash advantage a good option.
There are a few other options that you can turn to in order to pay the bills. Taking out a personal loan is one such option. You can finance the lawsuit through existing credit cards or, if you have good credit, by taking out a personal loan. If you don’t qualify for a personal loan, you can ask friends or family to help you out financially. In many cases, loved ones will be happy to help.
You could also consider talking to your doctor about paying bills over time if you have large medical fees. You might be able to work something out with a hospital, doctor, or medical provider so that your medical care is affordable.
Finding a way to finance your personal injury lawsuit can seem stressful; however, there are many options that you can consider which can help to make your lawsuit more affordable. Make sure that you hire a personal injury lawyer without having to worry about enormous lawyer fees.