Litigation Funding
Litigation funding, also known as legal financing or third-party funding, is a way for plaintiffs to secure financial support for their legal claims. The funding can be used to pay for legal expenses, such as hiring a lawyer and expert witnesses, and can also provide a financial cushion for the plaintiff during the litigation process. This type of funding can be useful for plaintiffs who may not have the financial resources to pursue a lawsuit on their own.
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Why consider Litigation Funding
Many individuals and small businesses may not have the financial resources to pursue a lawsuit on their own. Litigation funding can provide the necessary capital to cover legal expenses and support the plaintiff during the litigation process.
Litigation funding can also level the playing field in disputes with large corporations or individuals who may have greater financial resources.
Litigation funding assume the financial risk of the lawsuit, so the plaintiff does not have to bear the full burden of the costs of litigation.
In some cases, the plaintiff may be facing financial hardship due to their legal dispute and may require immediate financial support.
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Frequently asked questions
Who is eligible for litigation funding?

Individuals or businesses who have a valid legal claim and are in need of financial support to pursue their case may be eligible for litigation funding. The funding company will evaluate the case to determine the likelihood of success and the potential award or settlement before providing funding.

How does the funding process work?

The process typically begins with the plaintiff contacting a litigation funding company and providing information about their legal claim. One Eagle Advisory and its team of tax preparers will then evaluate the case and, if they decide to fund it, provide the plaintiff with a specified amount of funding in exchange for a percentage of any settlement or award.

Is litigation funding a loan?

No, litigation funding is not a loan. It is a form of non-recourse financing, meaning that the plaintiff is not liable to pay the funding back if the case is lost, as opposed to a loan that must be repaid regardless of the outcome. The funding company assumes the risk of the lawsuit and is only repaid if the plaintiff wins or settles their case.

How long does the funding process take?

The funding process can vary depending on the complexity of the case and the funding company's evaluation process. In general, it can take anywhere from a few days to several weeks to complete the funding process.

Is litigation funding legal?

Litigation funding is legal in many countries and states, but it is not legal in all jurisdictions. It is essential to check the laws regarding litigation funding in the jurisdiction where the case is filed or where the funding agreement is entered to confirm its legality.

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