New Industry Emerges in Legal Finance: Pre-Settlement Lawsuit Funding

April 12, 2012 - PRLog -- Most people don't know the difference between pre-settlement funding and structured settlements. The difference is, with pre-settlement lawsuit funding if an individual takes out let's say $10,000 on their case, and they happen to lose their case, they owe nothing. The funds are non-recourse.

Many experts speculate that the economic crisis in the recent years has driven more people to pre-settlement funding due to lost wages, unemployment, layoffs, etc. Every year there are millions of lawsuits filed every single year, many of which are people that have injuries and disabilities that keep them from working and earning an income.

In the current economy, it is nearly impossible for these people to attain a loan, or any kind of money what so ever outside of working. All of these factors have fueled the growth of the pre-settlement lawsuit funding industry exponentially, and will continue to do so at ever growing rates.

Most critics have referred to the industry as a "loan". In fact, there is very little risk associated with getting an advance. If a person applies for funding, gets approved and receives $5,000, then, they lose their lawsuit. In this case, they would not owe the money they took out back. Plaintiffs only pay back the funds if they win their case.

To be applicable a plaintiff needs to have a lawsuit filed, and an Attorney actively working on the case. Most companies fund only the personal injury cases typically, but there are funding sources that will provide pre-settlement funding for various kinds of lawsuits.

Please visit http://www.presettlementfundingnow.com to learn more about the funding process, and to apply for a non-recourse advance on a lawsuit.