You can ask anyone who has been a plaintiff and he would tell you how much he had to wait before getting his money from the court. Every state’s court is littered with pending cases. It can take an annoyingly long time before your case comes to a satisfying end. On most occasions, a case drags on for several months, if not years, before the plaintiff gets some monetary compensation. This can be very frustrating. Furthermore, if the person has suffered grave personal injuries and needs money to fund his medical bills, then he could be left in a state of dire wanting.
That is why commercial litigation funding has become so popular and favored. This type of funding not just helps the plaintiff to fund his medical bills but also curtails his level of frustrations and gives him that much-needed security. Thanks to this type of funding, it becomes possible for him to pursue the case till the very end and with patience.
Unfortunately, the court does not offer any assistance to the plaintiff until a verdict is arrived upon (which can take more than 5 years as well). Waiting till that time and without any certainty can be a big mental hurdle. The person cannot even borrow a conventional loan since he does not know whether he would win the case or not. In case, he loses the case after all these years, he would have to repay the conventional loan from his own pockets.
Hence, commercial litigation funding is the loan which everyone is trying to avail. It is not easy to get sanctioned for this funding, since the lender must have full confidence on your case. But if he does, then the advantages are many for the borrower. As a plaintiff, you not just get instant money but you do not carry any personal liability to make repayment. You will have to repay when and if you win your case! If you lose the case, then you keep that money without being bothered about repayment.
So, this type of funding is a helpful source of finance and one which carries zero risk to the borrower
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