There are several questions that plaintiffs ask from a lawsuit financing company.
- Can they get two lawsuit loans for a similar case from the same company?
- Can they get two pre-settlement loans from different funding companies?
- Factors that affect the funding and volume of funding?
The answer to all the above queries is simple, if you have a lawsuit which is of high estimated value then you can get approved for a loan till the loan amount is below the expected settlement value. Most often plaintiff can get more than one lawsuit loan if their case value is the high and winning expectation is also very high.
Can I Get Funding From Two Settlement Loans Company?
In case, a plaintiff has a settlement loan from one of the agencies, then also you can get lawsuit funding from a different firm. This process of getting a cash advance is called refinancing. Sometimes plaintiff tries to refinance their original pre-settlement funding, once they find that the fees of the original company are higher than the other one, or if they offer a lower value lawsuit than the next one.
Because of this several plaintiffs opt to partner with America Lawsuit Loans, for low-interest rate pre-settlement funding. Because the firm is known for giving cash advances in less than 24 hours.
Benefits of Refinancing at America Lawsuit Loans:
Americal Lawsuit Loans is one of the best financing agencies in the industry. Not only do they offer a low-interest rate, but they are also quick in dispersing loans in just 24 hours of approval.
Some major benefits of getting a loan from them are:
The loan which you will receive from America Lawsuit Loans is non-recourse structure finance which means, the plaintiff needs to repay the loan only if the judgment came in their favor.
The team and executive available at their facility are very professional and helpful. A plaintiff can ask them any question related to pre-settlement financing and they will reply back with complete information in time.
In the industry of litigation funding, they are offering lawsuit loans at the lowest rate. No other funding agency in the US is able to cope with the interest rate are charging.
How does refinancing work?
Let’s breakdown refinancing in a manner that is understandable to the plaintiff.
To give finance, America Lawsuit Loans first need to understand the case and the background of the case. If you are applying for refinancing then you need to show the case details as well as the past payoff letter from the previous firm.
The payoff letter states the amount you owe to the previous firm so that America Lawsuit Loans can determine whether you are eligible to get more loans on the existing case or not.
If you owe enough to the previous funding company and your expected settlement is not much more than that, then the new firm will deny giving cash advances. But if your case is having huge settlement expectation, and you owe a little sum, then the other company can refinance.