You may have heard of the term "personal injury financing" if you are going through a lawsuit. It is important to completely understand exactly what this new form of financing really is. If you were involved in an accident, you have the right to sue for compensation. If you are successful in receiving a recovery it may pay for medical expenses, loss of wages, pain and suffering etc.

If you filed a claim with an attorney you were probably told personal injury cases can take months or even years. As a victim of an accident, time is not on your side. You may be out of work and you can't afford to hold out months or years.

The insurance company is taking their time reviewing the suit and determine that your case is only with a small portion of your over all expenses. They make a settlement offer but its a fraction of what the case is worth. Perhaps the insurance company is unwilling to make a settlement because they don't think their client is liable. What are you going to do?

What is personal injury financing?

Personal injury financing is used to help you get through a lawsuit. Plain and simple, it provides you an advance against the proceeds of your case. You can borrow money using the suit as collateral. Whether you have already been offered a settlement and it's too little, or one has not been offered, you can secure personal injury financing. In order to qualify for legal funding you will need the representation of an attorney. When you apply the lender will request to speak with your attorney and require documentation on the case. If after reviewing the documentation they feel you have a good case, they may provide personal injury against your lawsuit. The process can take anywhere from a day to several days depending upon how quickly they receive documents. You should always seek guidance from your attorney prior to accepting any offer.

For additional information on funding personal injury lawsuits, contact LawLeaf today.