Legal Advances in Down Economy

There is no question that lawsuit funding has become extremely popular over the last several years. In fact, LawLeaf, a leading lawsuit funding company, has seen a significant increase in both applications and approvals.

The clients that apply for legal advances:

Due to an increased unemployment rate and a down economy, insurance companies continue to take advantage. When a victim of a personal injury accident files a claim against the insurance company they are interested in one thing; Receiving the compensation that is rightfully owed to them in a timely manner. While this may seem to be the right thing, oftentimes its quite the opposite. Today, as the economy continues to spiral downward insurance companies are well aware. They understand that families across America are hurting financially. This has created an opportunity to offer claimants smaller settlements because they know the likelihood of accepting such offers increases in the down economy. While insurance companies continue to make record profits each year, average Americans are forced into taking much larger settlement and in some cases owing money out of pocket for unpaid medical bills.

The investment:

There has been an influx of new hedge funds and funding companies that have entered into the legal advance industry. Due to volatile markets, investors are seeking new places to invest their monies. Lawsuit funding has become extremely popular and attractive to many investors. While pre settlement funding is non recourse the rate of return is still better than other financial vehicles.

The result:

Today we are seeing a more competitive environment. While more competition should help decrease the rates there are still companies that are charging higher than the industry standard. At LawLeaf we understand the importance of getting the best rates for our clients. We are equally dedicated to providing our clients with no minimums or maximums on how much money they can be advanced. If you are currently searching for a pre settlement advance against your lawsuit, contact LawLeaf today.

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