Lawsuit loan providers require detailed information about the plaintiff and the lawsuit that he/she has filed. This is done to ensure that a case has merit and isn’t just a money grab. A lawsuit settlement loan should be considered when it is taking a long time for the case to go through and you want to receive a part of the settlement now. Whether you’ve got medical expenses or debts that you need to pay off or even if you’re just tired of waiting for the settlement, this loan can help you. This article contains general lawsuit loan information and what are some things you need to be careful about.
The most important thing with these types of loans is the information you give to the lender. The lender will not care about your credit score range or credit history. He is interested in thorough information about the case and yourself. The lender has to be sure you’ve got an almost guaranteed win or else he loses money by loaning you the cash. “How so?” Well, settlement loans are a bit different from traditional loans. If you do not win the lawsuit then you do not have to return the loan. This is why you must give the loan agency every detail about your case.
You’ll have to provide the following information:
• Name of law firm or lawyer handling your case.
• Contact details: physical address (no forwarding), direct phone/fax numbers.
• Name of representing attorney (this must be exactly the same as it is presented in court documents)
• Contact details of representing attorney (as above)
• Type of lawsuit
• Court where your lawsuit is being tried (state, county and city)
• Defendant’s insurance information
• Any paralegals that are involved with the case
• Current state, developments and any settlement proposals (if any) since you have initiated the lawsuit.
If you have provided this to the loan company and you know that you have merit then you can be sure that you’ll receive a settlement loan in less than three days.