Lawsuit Cash Advances – Exploding the Myths About Lawsuit Funding
Despite myths to the contrary lawsuit cash advances usually help “the little guy.” That is, the single moms and hard working people who otherwise not be able to pay their bills and living expenses and still pursue the justice of their lawsuit.
Myth: A Lawsuit Cash Advance is a Loan.
No, an advance is NOT a loan. It’s understandable why many people confuse legal funding with loans. On the surface, legal funding appears to possess the same look as an unsecured loan. In reality, legal funding is very different from get financial help with an advance traditional loans.
The main difference is that loans always need to be paid back and require a monthly payment. When you get a lawsuit cash advance, you do not need to make monthly payments and the money is only paid back if you settle your case.
In the past, plaintiffs who were not aware of legal funding often turned to expensive credit cards to cover living expense while they waited for the case to be resolved. Not a good idea. Regardless of whether the lawsuit was successful or not, the plaintiff was still required to repay the debt.