Litigation Funding Options

Litigation Funding Options

Loan from a friend or family member

People close to you are usually giving and have no problem loaning you money if they’re flush. The advantage is that there’s no interest and you can pay it back slowly. If it seems like the case is going to drag for a few months, borrowing money from a kin or a friend is a great idea as you won’t be pressured to repay it too soon. If you want, you can always pay back with interest as a token of thanks.

Personal loan

A personal loan from the bank is another option although not such a sound one. It’s also difficult to obtain because banks aren’t too keen on investing in legal cases especially where the outcome is unpredictable. While there’s a chance you may be able to get the loan, the odds are not great. Still, give it a try, you may strike lucky.

Hiring a lawyer on a contingent fee basis

Similar to what a litigation funding company does, hiring a lawyer on a contingent basis sees that the lawyer is paid only when the plaintiff wins the case. While this works out well, there are other expenses to consider such as court fees which must be paid throughout the course of the case. Moreover, the final cost to be paid to the lawyer may amount to much more than initially thought as the lawyer is taking a risk with you and your case.

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