In this last post with regard to the “Big Three” underwriting concerns, we will briefly discuss how an underwriter in the Legal Finance or Lawsuit Loans business assesses an advance amount for a case loan. As we discussed previously, lawsuit loans are underwritten by considering the likelihood of success and also utilizing various risk management approaches in an effort to maximize the ability of the lawyer to pay the lien once the matter is settled. Today we will discuss the third area of the “Big Three”. Read more »

As stated in the previous post, lawsuit loan or cash advance underwriting ultimately comes down to three different issues.

1. Lawsuit Considerations
2. Risk Management Considerations
3. Portfolio Management Considerations Read more »

Originally posted on www.icepop.com on June 10, 2010

Companies that provide lawsuit financing have traditionally needed mountains of documentation in order to process a case. The information needed includes basic facts about the situation or incident and the person filing the claim. A great deal of research,  background checks and information gathering is necessary to determine whether a plaintiff in a case is eligible for financing. Recent developments in technology have made the process less time consuming and more environmentally friendly for lawsuit financing companies to do the necessary work. Read more »

Originally posted on articlecue.com on June 10, 2010.

Lawsuit financing is available for some plaintiffs that would otherwise be financially strapped between the time their case begins until the trial occurs. Many people are unable to work due to personal injury. Some may have lost their employment due to circumstances involved with the case. This puts a huge financial burden on them. Their regular bills often pile up because there is no means to pay them. For others, added expenses are simply too much to handle. Additionally, lawsuits cost money. They cannot afford to survive without some financial help until they win their case. There are several bills that accrue during this critical period. After a suit is filed, it may not go to court. The parties may reach a legally binding agreement beforehand. This almost always involves the payment of a sum from the defendant to the plaintiff. Lawsuit funding helps people to make ends meet during this time. Read more »

What goes into underwriting my case?

The answer to the above lawsuit funding question comes up a great deal in the day to day litigation financing industry. Essentially, more than you realize goes into underwriting a lawsuit for purposes of a legal cash advance. The underwriting ultimately comes down to three different issues.

1. Lawsuit Considerations
2. Risk Management Considerations
3. Portfolio Management Considerations

For purposes of this entry, we will only discuss Lawsuit Considerations. The other two will be discussed in future entries as they pertain to the pre-settlement funding business. Read more »

In the world of litigation, people often find themselves in financial trouble when they are suing someone. This may be for a number of different reasons. They may have lost a job due to the situation that caused the lawsuit. The existence of a legal battle may have taken away too much time from their time at work, causing them to lose their job. There are many unforeseen legal expenses involved in a lawsuit. They may get out of hand, depending on the depth of the case and number of witnesses and defendants involved. Read more »

Of course, the answer depends on what type of case we are considering. For the typical lawsuit case advance, such as cash against a pending lawsuit involving a slip in fall accident or a motor vehicle crash, the most important information is an incident report, proof of injuries and proof of insurance coverage. Read more »