Everyone is aware of the numerous benefits of a litigation loan. This type of loan puts no pressure on the borrower since he doesn’t carry any personal liability, even if he loses his case. The repayment for the loan only needs to be done when and if the plaintiff wins his case. The verdict of the trial may come after several years. Till that time, he will not have to worry about any repayment. Even at the end of the trial, he just needs to pay a certain share of the winnings. And if the verdict is against his favor, then he will not be held personally liable for the loan.
So, these benefits make commercial litigation financing a very lucrative affair for all plaintiffs. However, not all plaintiffs get approved this type of funding. A lot depends on the strength of your case and on the extent of injury suffered. Many other personal or non-personal factors also affect your chance of securing a healthy loan.
On your part, you need to be honest and upfront with the funder. A lending company shall offer commercial litigation financing only if it supports your decision or your case, and feels that you have a steady chance of impressing the jury. Some plaintiffs may try to mislead the lender by fabricating false information or by magnifying the state of their injury. No company likes to grant funding to someone who is dishonest and is seeking fraudulent means to obtain an advance. So, the best way you can get the funding is to be truthful and factual. Dishonesty would lead you to nowhere.
Nevertheless, the companies have their own experts to find out the truth. So, any ill-attempts are likely to fall short. Another way you can increase your chance of getting the funding is by hiring the services of a capable attorney. When lenders see that your attorney has an impressive success rate, then they would be more tempted to offer you funding
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