The rising number of motor vehicle collisions has become quite alarming and it is one of the issues being addressed by concerned authorities. Nobody wants to be involved in a road mishap but there are human factors that contribute to the high incidence rate of road accidents. However, it is not only road mishaps that tend to damage an individual’s normal life since there are also work-related accidents or medical malpractices that tend to have a negative impact on livelihood. The cost of litigation is usually one of the challenges that a victim expects once he finds himself an unfortunate party to an accident which is not through his own fault.
Litigation funding or Lawsuit Cash Advance is the emergency funding provided to litigants who are struggling with their finances while waiting for their just compensation. These cash advances are provided to ease the financial woes of accident victims who usually face the challenges of finding support for the family’s needs including paying off the monthly bills like utility bills, home mortgage payments and credit card liabilities. Failure to pay home mortgage payments may become catastrophic for the family unless a source of cash advance is immediately attained.
An accident whether through road mishaps or job related incidents usually causes temporary physical disabilities which prevent the victim from reporting to work. This compromises the economic situation of the family considering that the victim might be the sole bread winner. The pressure of the unanticipated loss of earnings can cause a lot of stress and anxiety that severely affects the recovery process from the injuries sustained. Another problem is the mounting costs of medical bills and hospital expenses in the absence of a medical insurance.
An accident cannot be resolved immediately due to the investigation process and the victim has to contend with the offer of the insurance company to settle the case immediately. Without legal representation, the victim usually suffers from the minimal compensation even if his case necessitates a bigger payment to satisfactorily cover the damages and injuries sustained. Hiring a lawyer provides the victim with legal support in facing this sad phase in his life. This also entitles the victim to seek for financial funding from Lawsuit Cash Advance as a way out of the financial dilemma.
The money obtained from the cash advance can be used for both the litigation expenses and personal matters. When impatient creditors continue to call demanding immediate payment, they can be satisfied from the cash advance gained from the legal funding. This is a viable solution for the victim since borrowing money from friends and relatives might give rise to an awkward situation. Seeking for a personal loan from money sharks will put the victim into more severe budget constraints due to the amount of interest charges.
Legal funding is different from the ordinary personal loans as the victim is not required to pay monthly installments for the loan since the payment depends upon the outcome of the case when judgment has been obtained which can be years away depending upon the speed of the legal process.
