Everything You Need to Know About Plaintiff Funding

Plaintiff funding, also called lawsuit funding, is financial assistance that helps litigants cover the cost of legal fees and living expenses while they’re waiting for a case to settle. Plaintiff funding is designed to cover personal injury cases, which includes workers compensation, medical malpractice, and personal injury suits. Plaintiff funding is a good option for many people, because it means that you don’t have to repay loans on your lawsuit if the case doesn’t settle in your favor.

Is Plaintiff Funding A Loan?

Unlike other types of legal financial assistance, plaintiff funding is different from lawsuit loans. It is a form of emergency funding that covers the cost of living, including missed workdays, litigation fees, and medical bills incurred during a lawsuit that otherwise drain your financial resources. Unlike loans on your lawsuit, plaintiff funding does not accrue interest. It is considered a non-recourse payment, which means that you don’t owe any money if the case does not settle in your favor.

What Expenses Can You Use Plaintiff Funding For?

While some settlement loans restrict what expenses you can use legal funding for, plaintiff funding offers financial support for a variety of expenses that are directly and indirectly related to the lawsuit. Along with litigation fees, this includes coverage for medical bills, rent, utilities, groceries, and ongoing medical care. Ultimately, having broad coverage for expenses makes it easier to focus on your daily life and personal needs, which becomes almost impossible when you’re dealing with the stress of a lawsuit hanging over your head!

What Kinds Of Cases Does Plaintiff Support Cover?

Plaintiff support provides financial assistance for a variety of personal injury cases. This includes railroad (FELA) accidents, construction accidents, medical malpractice, mass torts, motor vehicle accidents, nursing home negligence, personal injury, and more. You can find out if your case qualifies for plaintiff support under personal injury at Nolo, which is a comprehensive resource for learning about different areas of law: https://www.nolo.com/. If you already have an attorney, you can check with him or her to see if your case is eligible for plaintiff support.

How Do You Get Plaintiff Support?

Fortunately, the process of applying for plaintiff support is easy! First, you’ll have to submit an application to determine your eligibility, as you would for lawsuit loans. Then, the lending company usually contacts your attorney to get official documents related to your case, such as medical documents, police reports, bills, and insurance information. Once the application is approved, your attorney will get an agreement that needs to be signed and returned in order for you to get payment.

Once you receive your funds, you’ll be able to use them as you wish. Plaintiff funding can be used as emergency funding, which means that money will be available in a short period of time for you to use once your application has been approved. That alone reduces stress from a lawsuit!

By |2018-08-08T21:27:09+00:00August 9th, 2018|Blog|