How To Save Money with a Litigation Loan

Osgoode Hall, photo Rainer Halama
Osgoode Hall, photo Rainer Halama

Everybody knows that court cases cost money, even if you are the innocent party. Dealing with the financial fallout of a lawsuit can be stressful, but the right litigation loans can keep things under control. A litigation loan allows you to break court costs and lawyer fees into more manageable payments. Many lawsuit loan companies offer approval in as little as a single day, and some litigation loans don’t even require a credit check in advance. This means that anybody can take advantage of a lawsuit loan.

What is a Litigation Loan?

A litigation loan provides you with immediate funding so you can pay legal fees. This could include payment to your lawyer or payment of a fine or other court fees. You apply for the loan through a simple online process, and most loans are approved within 24 hours. The settlement of loan is often based on your particular financial situation. If you expect to have more money for payment of your litigation loan early on, you can front-load the lawsuit loan so that fees and interest get applied disproportionately early. This gives you the opportunity to save money later when you are closer to the settlement of the loan.

Osgoode Hall, photo Rainer Halama
Osgoode Hall, photo Rainer Halama

Who Needs a Litigation Loan?

Litigation loans are meant for those who have immediate lawsuit fees that need to be paid, but who don’t have a direct option to pay them on the schedule that a lawyer or court ruling demands. Lawsuit loan companies often deal with those in financial straits who could handle a series of smaller payments rather than one large fee up front. Because a court case can already disrupt a person’s credit status, litigation loans often provide easy ways for people with less than perfect credit to get approved, either through a simplified application process or by ensuring that the lawsuit loan doesn’t have as deep an impact on a person’s credit score. These methods also allow more flexibility when it comes to settlement of the loan.

How Do You Settle a Litigation Loan?

Settling a litigation loan works just like any other settlement of a loan: you make regular payments until you have paid your lender back in full. The major difference is that lawsuit loan companies often try to distance themselves from those businesses that require installment loans. That means that you might not have to deal with monthly payments and that administration fees that would normally drive up your interest rates and fees are kept as low as possible. Essentially, this means that borrowing for a lawsuit loan is much more flexible and based on your personal financial situation. The companies that offer these loans aren’t requred to follow the same rigid framework as a bank or auto lender.

A lawsuit is a stressful enough process without the need to add a heavy financial burden on top. That’s why litigation loan companies work with you to find a financial agreement that fits your needs and provides you with the funds to settle your court expenses quickly.