Law Advance Comes up With Various Kinds of Legal Funding Services
Philadelphia, PA -- (SBWire) -- 07/05/2012 --Law Advance has come up with various kinds of Legal Funding services for its clients that include Pre Settlement Lawsuit Funding, Settlement Funding, and Attorney Funding. Legal Funding is when an advancement of funds is made available to the plaintiff or an attorney. Law advance offers an advance on pending lawsuits to reduce financial pressures on the plaintiff.
Legal Funding is a new type of investment that is offered to plaintiffs and attorneys within the legal industry. Funding companies provide the individuals with the money while their settlement or lawsuit is pending. An individual pays interest for a set amount of time, and when the case is settled, they pay back the money plus interest. Legal Funding has become more of a necessity than a luxury. “Due to the number of cases rising throughout the US, Legal Funding has become very popular in recent years. We advance the cash now for your pending or settled Lawsuit, or a structured settlement”, says a Law Advance spokesperson.
There are three kinds of Legal Funding services provided by Law Advance. Each has an exclusive feature that sets them apart, although they are often referred to as lawsuit loans, or lawsuit funding. Pre-Settlement lawsuit funding is commonly known as lawsuit cash advance, lawsuit loans, or lawsuit funding, even though it is not a loan. Pre Settlement lawsuit funding is assessable to a plaintiff in a personal injury that is yet to be settled. Since this type of Legal Funding is a non-recourse transaction, pre settlement funding is not a loan. Another type of Legal Funding is attorney funding. Attorney Funding, also known as a law firm advance, is an advancement of money made to help fund an on-going personal injury case made to attorneys. It can be used to help cover costs that come with the case such as expert witnesses. The third type of Legal Funding is known as Settlement Funding.
About Law Advance
Law Advance is one of the originators in the lawsuit cash advance industry. The founders have been in lawsuit funding, legal finance, and the credit business for close to twenty five years. They have some of the best legal minds around to individually underwrite each pre-settlement case to determine the best possible rate available to their clients.
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