No-Risk Lawsuit Loan on Your Wrongful Termination Lawsuit
Wrongful termination lawsuit funding is a non-recourse cash advance provided to a plaintiff involved in a wrongful termination or wrongful discharge litigation even before his/her lawsuit is settled or resolved.
Most of the plaintiffs involved in wrongful termination or wrongful discharge litigation are not aware that they can use their potential lawsuit settlement as collateral to get a non-recourse pre-settlement cash advance before their lawsuit is settled.
What is Wrongful Termination?
Wrongful termination happens when an employee is discharged from employment for illegal reasons or if company policy is violated when the employee is fired.
Experts estimate that at least 250,000 workers are illegally or unjustly fired (wrongful termination) each year and these figures do not include those that were justifiably terminated.
Who is Eligible for Wrongful Termination Lawsuit Loan – Lawsuit Funding?
If you were an employee and you were unfairly fired or laid off and have filed a lawsuit with the help of an attorney than you may be eligible for a lawsuit loan or lawsuit funding on your pending lawsuit settlement.
How Wrongful Termination Lawsuit Funding is Different from Regular Types of Loans:
Wrongful termination litigation funding provided is a contingent transaction in which cash is advanced based solely on the merits of pending litigation. In layman language these are called lawsuit loans, but in true sense, these are not loans because the money does not have to be paid back unless the case is won or settled.
Lawsuit funding is considered a secured non-recourse debt due to the fact that if the litigation reaches a final verdict in favor of the defendant the lawsuit loan is forgiven. The plaintiff is absolved from payment of lawsuit loan debt. This is non-recourse settlement loan, which you pay back only if you win or settle the case.
Other Terms Used for Wrongful termination:
Wrongful termination is the most common term used. But an unfair employment discharge is also referred to as:
– Illegal discharge
– Illegal dismissal
– Illegal termination
– Unfair dismissal
– Wrongful discharge
– Wrongful dismissal
– Wrongful firing
Wrongful discharge law suits are mostly high value and complex cases and very few lawsuit funding companies provide lawsuit settlement loan on these types of cases. summons and complaint
Process to Get Lawsuit Funding on Your Pending Wrongful Termination Litigation:
It involves four easy and stress free steps:
Step 1: You complete the simple and easy application on line or on phone.
Step 2: A representative from lawsuit funding company will contact your attorney, the same day (preferably within one business hour) and will request for the required documentation to evaluate your request for lawsuit loan.
Step 3: Once the case papers are received, the underwriters will process the information. The decision to approve a lawsuit loan is based solely on the merits of pending lawsuit. If required the underwriting attorney will discuss the case with your attorney.
Step 4: If approved, you are informed immediately and your funding agreement is faxed/ emailed. Once the signed copies of lawsuit funding agreement from you and attorney are received, the check is sent the same day for next day delivery or funds are wired into your bank account.
Total process to obtain wrongful discharge lawsuit funding is fast and free. There are absolutely no up-front charges. Unlike a conventional loan, however, the credit and employment histories of plaintiff applicant are not a factor.
And unlike a conventional loan, there are no monthly payments. The lawsuit cash advance is paid back, plus accumulated fess, from the proceeds of the final recovery once the wrongful termination or wrongful discharge lawsuit is resolved.
Being fired from your job is difficult, especially if you have been fired in an illegal manner. A wrongful termination lawsuit process can have a serious impact on life of plaintiff, and his/her family, health, and finances.
How Lawsuit Funding Helps the Plaintiffs:
By offering appropriate lawsuit settlement loan, a lawsuit funding company enables the plaintiffs to get relief from financial problems and to resist financial pressure to take the first low ball offer made by defendants attorneys.