Class Action Lawsuits; are they a thing of the past? The plain answer is no; the lawsuit industry is alive and well and is an ever-evolving sector of the lawsuit financing industry. However, as with all litigation, there will be winners and losers; there will be those who see tremendous profits and those who lose money or are otherwise affected by the outcome of the lawsuit. There is nothing to stop anyone from filing a lawsuit of their own regardless of whether it is in the form of a class action lawsuit or otherwise.
If you have filed a lawsuit previously, either on your own behalf or as a representative of another group, it is possible that you received a check for the full amount you are owed on that lawsuit. These are called “plain loans” and there is nothing wrong with receiving one of these. It does not mean that you cannot file another lawsuit against the bank and receive payment on the loan from a different party, even if that person is an individual or company other than the one filing suit. Plain green loans are simply lawsuit advances. They do not require any payments to be made; they are simply advances.
You should consider the fact that the bank that you choose to invest in is now being scrutinized by the government in terms of their lending practices. The recent mortgage crisis has caused a great deal of chomping at the bit for fraudulent lending practices and predatory lending in the commercial lending sector. This means that you are much more likely to encounter and be victimized by a predatory lending scheme if you choose a lawsuit finance company based upon what you have learned about them in the past. The very same reasons why you would not trust individual investors with your hard earned cash; do not apply to these companies.
Another issue with lawsuit loans is that the majority of them require a lot of security. Yes, you can file a claim and receive your money back, but there is often a need for collateral. Simply put, the lending industry is concerned about its own reputation and cannot risk you putting up your house or car as collateral. It’s for this reason that most of the pre-settlement loans are backed by a few thousand dollars in cash and a few hundred credit cards and/or electronics.
If you find yourself suffering from a lawsuit, you may want to consider a lawsuit loan. A pre-settlement lawsuit loan is almost always offered to those who file Class Action Lawsuits. The purpose of this type of lawsuit funding is to give the plaintiff a little extra money that they can use to fight their case. It is also used for depositions, research, and any other necessities. Because it is provided under a Class Action Lawsuit, you will never be required to repay the lawsuit advance unless your lawsuit is resolved.
Plain green loans are often the last resort offered to individuals who cannot obtain settlement loans through traditional means. If you are faced with a lawsuit, you will want to consider getting lawsuit loans. In some cases, individuals are offered as much as several thousand dollars. The main advantage is that you can quickly get the cash you need in order to fight your lawsuit. Most importantly, it allows you to fight out your case and receive your money much faster than you would be able to if you pursued settlement through a bank or other lending institution. Even if you lose your lawsuit, you will usually be able to repay the loan and get on with your life.
