Lawsuit settlement funding companies field hundreds of questions each day. One frequent question asked by plaintiffs is “Why do lawsuits take so long to finally a settlement?”
Of course, there may be many reasons. One major reason relates to the complexity of litigating a personal injury lawsuit. Indeed, both plaintiffs and defendants must jump through many “hoops” in order to prove or defend a lawsuit.
Lawyers attempt to represent the best interests of their clients and navigate the applicable laws and rules in order to protect them. They know what the procedures are and follow the rules to move things along as quickly as possible. Without attorneys, plaintiffs would be lost in a sea of rules and regulations, much of which they could not possibly understand without proper training.
Typically, lawyers meet with their clients, then communicate with the other side’s attorney. After investigation, the lawyer and client will decide what course of action to take – one of which is whether to file a formal complaint or to try to settle without going through the court system.
If the plaintiff decides to file a complaint, the fun has just begun. In most civil actions, such as personal injury cases, court rules call for the parties to exchange pertinent information about the case. This is the part of the lawsuit known as “discovery” and could take years to complete depending on the type of case, length of treatment, etc.
In some personal injury cases, a judge sets forth a schedule of deadlines. Each one represents an important step that must be followed. Most of the time, these dates are anywhere from 30 to 60 to 90 days apart. During the process, both parties answer written questions asked by the other side called interrogatories. They must be answered truthfully and by a deadline. After that, lawyers are allowed to talk to witnesses for the other side, but only with the other attorney present. These sessions are called depositions and they are often delayed due to the scheduling conflicts of attorneys, clients, and/or expert witnesses.
Sometimes lawyers disagree about different procedures they must follow. This can result in another delay because matter must be presented to a judge for a decision. In some jurisdictions, it could delay the proceedings several months just to present the specific issue to the court.
Once discovery is complete and as the trial date approaches, the parties attend a special meeting called a pre-trial conference. The purpose of this meeting is to map out a how things will proceed. Many final issues as to the admissibility of evidence for example, are decided at this time.
Afterwards, the trial ensues and will most likely take a least a week to decide. Then post trial motions are heard and depending on the circumstances, an appeal may be heard, since both parties have the right to appeal.
Even when all of these steps are concluded, there is a certain amount of time that must pass before plaintiffs receive their money. Sometimes the recovery is paid in a lump sum. Other times, it is structure to be paid in installments.
Lawsuit Settlement Funding Bridges the Gap
With all of the intricacies of litigating lawsuits, it is no wonder why settlements take more time than one would expect. One question naturally arises from this process: What are litigants to do if they encounter financial difficulties while the case progresses?
Plaintiffs often find other means of financial support. One such solution is lawsuit settlement funding.
Lawsuit settlement funding is a financial transaction where a plaintiff sells a portion of the future proceeds of his/her lawsuit in exchange for cash now. When the case is settled or otherwise successfully resolved, the lawsuit settlement funding is repaid to the funding company.
Lawsuit settlement funding should not be confused with a loan, although sometimes lawsuit settlement funding is referred to as “lawsuit loans” or “settlement loans”. The term “loan” implies that the money must be repaid at some point in the future.
Alternatively, the lawsuit cash advance (lawsuit settlement funding) is non-recourse, which means that if for ANY reason the lawsuit is not successful, the lawsuit settlement funding is not repaid.
Clearly, lawsuits can take time. When plaintiffs need lawsuit settlement funding to meet financial obligations, Fair Rate Funding is there to help. When you qualify for a settlement loan, we provide you with money. After the trial is over, or if the case settles during the litigation process, the money is repaid. There are absolutely no up front costs to pay and no restrictions on the money’s use.
Thank you for your interest in the lawsuit settlement funding business.