Even if you have a strong case against a party that has caused your injury or loss, a lawsuit is rarely a fast process. Sometimes, personal injury litigation can go on for months or even years. Meanwhile, you as the plaintiff are still stuck with medical bills and everyday living expenses even though your injuries may keep you from working and receiving a paycheck. Pre-settlement funding – or a litigation advance – is a way to get immediate cash for structured settlement payments pending the outcome of a legal action.
Lawsuit settlements can be a valuable asset, particularly if the plaintiff has a strong case and a good chance at winning a settlement. If you need cash now, you may be eligible to receive a cash advance of up to $30,000 against your future structured settlement payments, which can help you in meeting your immediate needs. If the case is settled in your favor, CBC as the funder will reclaim this money, along with a fee for our services.
CBC assumes a certain amount of risk in this type of transaction, similar to that faced by the law firm that takes a case on a contingency basis. A pre-lawsuit settlement transaction is classified as a “non-recourse arrangement.” This means that if you are unsuccessful in your lawsuit, you do not have to pay back the cash advance and CBC essentially loses the lawsuit cash advance it has paid out to you.
Depending on the nature of your lawsuit and individual circumstances, you may wish to look into other alternatives before deciding upon a pre-settlement funding arrangement against a future structured settlement payout. Your own attorney can offer you counsel in this area. If you and your lawyer decide that pre-settlement funding is the best solution for your particular financial situation, CBC’s professional staff will make the arrangements as quickly as possible (generally, in about 3-5 business days) – and if for some reason you do not win your case, you will not have to pay back the litigation cash advance.