Best lawsuit Loan Companies

The police report is important because it provides an independent party that documents an accident took place.  They often include a lot of information, such as the parties involved, if anyone was issued a ticket or arrested, or if anyone was under the influence of drugs or alcohol.  

Police reports will often indicate if the involved parties were taken to an ER and if an ambulance was used

Police reports often indicate which insurance companies are involved in the accident.  And sometimes even state who was at fault, which can be important in determining the liability on a case.  To obtain pre settlement funding on a motor vehicle accident, have a police report is essential.

Prior advances on the case are only applicable if you have received a prior advance on the case.  If this is the situation, the pre settlement funding company requests the payoff information from the prior pre settlement funding company.  The standard practice is to pay off the existing advance, and issue “new” money to the client.  Pre settlement funding companies only allow one existing lien against your lawsuit at any given time.  

We’ll have to buy-out any existing advance.  For example, let’s say you have a $2,000 prior advance on your case.  And you want an additional cash advance of $2,000.  Let’s assume the payoff for the previous advance is $3,000.  So, the pay-off plus the new advance would be $5,000.  So, when a client has an existing lien, it is always more challenging to do an additional advance, but it is certainly possible depending on the injuries, insurance coverage, and liability of your case. 

Knowing the insurance policy coverage limits from the defendant is extremely important for pre settlement funding.  The defendant is the party you are suing.

The defendant is usually the one responsible for causing the accident.  The limits on their insurance policy place a theoretical dollar limitation on the case.  For example, if a defendant has a $100,000 policy limit, that may be the maximum value of the case.  Often the legal funding company will only advance 10% of an insurance policy coverage limit.  If the defendant has no insurance then as far as the legal funding company is concerned, the case has no value and will not be approved for funding. 

To obtain a pre settlement cash advance, it’s essential that your lawyer provide a copy of the complaint.  (The filed lawsuit in many states is called a “complaint”).  When a lawsuit gets filed, this lets the pre settlement funding company know your attorney is serious. 

The complaint is a legal pleading filed in civil court case that establishes the plaintiff’s case against the defendants.  

The complaint is used to provide the court with notification and a basis for the case while providing notice to the defendants that a case has been filed against them. 

The date a lawsuit is filed is important because it tells us how far along the case is, which gives us an idea how long it will be until settlement.  So basically, the filed complaint gives an idea of how serious your attorney is, how experienced they are, and the maturity of the case.  All this information helps the pre settlement funding company evaluate the case for funding.