Sexual abuse is a serious crime that is happening all over the world. In the US alone, almost half of women and a quarter of men become victims of some form of sexual violence. And some don’t even report their cases because of the shame they feel.
Sexual abuse causes serious damage to both the physical and mental health of the victims. Not to mention the financial burden it leaves them. Filing a sexual abuse lawsuit can get you the compensation you deserve. But, sexual abuse lawsuits are a long process. You may not get the money you need for medical and other expenses right away.
If you need a pre-settlement cash advance, get help from a pre settlement funding company. These settlement loan companies can get you same-day pre-settlement loans to help with financial support. Not only that but they also offer low-interest pre-settlement loans.
But what is the process for applying for pre-settlement funding? What documents should you prepare before applying for one? This article will give you all the details about legal funding in sexual abuse lawsuits. Read everything until the end to learn more about what happens when you apply for legal funding.
How Can Legal Funding Help Your Sexual Abuse Case?
There is a great deal of work before you can get justice and compensation for your sexual abuse case. That is, it can take months or even years to reach a settlement or a jury verdict. Defense lawyers and insurance firms can also prolong your legal proceedings.
They do this because there’s a chance that you will settle for less money because of pressure. They don’t want you to pursue the full amount of compensation that you are entitled to.
Fortunately, there is a workaround for this. With settlement loans, you can borrow funds to cover immediate expenses while your lawyer negotiates for the best deal. Settlement funding can also provide your legal team with the money they need to make your case stronger. You can use the money to pay for expensive legal aid.
Pre-settlement funding companies can help you get a just trial with pre-settlement funds.
How Does Legal Funding for Sexual Abuse Lawsuits Work?
Legal financing is a cash flow aid for lawyers who work on a contingency basis. In essence, pre-settlement funding companies let plaintiffs and lawyers borrow money from them. The amount is often based on the estimated value of how much settlement you will receive.
Legal funding gives you financial support after suffering physical or mental harm. On a similar note, it also helps lawyers with the right resources to advance their clients’ cases.
The Legal Funding Process for Sexual Abuse Lawsuits
It will take you no more than five minutes to apply for sexual abuse lawsuit loans. Some settlement loan companies just need you and your attorney’s contact information to get started. And most of the time, there are no fees associated with this.
Lawsuit pre-settlement funding companies focus on the quality and prompt handling of your case. This makes it easier to apply for a settlement cash advance now. Both your lawyer and the company will work together to help you get the compensation you deserve early on. You won’t have to worry about anything, and you can rest while they review your documents.
When Can You Apply for Sexual Abuse Legal Funding?
A sexual abuse lawsuit is a legal action filed by one party against an abuser. If you file for one, you’re claiming that one or more people were responsible for the damages you experienced.
Sexual abuse loans for settlements provide you with financial assistance for this horrific incident. But you can’t just apply for one and expect to receive a settlement advance right away. Here are some sexual abuse cases that qualify for presettlement funding:
- When you file for allegations of rape
- When you file for sexual assault
- When you file for molestation, and
- When you file for domestic abuse
What are the Qualifications for Sexual Abuse Legal Funding?
Any victim of sexual abuse is eligible to apply for a sexual abuse compensation loan. Here are the qualifications to be eligible for sexual abuse legal funding:
- Medical records showing the psychological and physical effects of your abuse,
- Evidence that a lawsuit is currently pending,
- Your financial status at the moment, and
- Evidence of moral character
You also need to submit paperwork and a criminal history check. Before you start dealing with any legal finance firm, make sure you have filled out all the documents.
After submitting your documents, your potential lender will look at four key elements:
- Evidence of your income,
- Your credit rating,
- Your legal background, and
- Collateral
Each factor demonstrates your suitability for lawsuit financing. Lenders want to make sure their money is secure in case things don’t work out with your case. If you don’t have proof of income, it can affect your ability to get a pre-settlement cash advance right away.
Bad credit scores can also affect how you get lawsuit settlement loans, but don’t worry. Credit scores are the least factor that settlement loan companies consider. Most legal funding companies consider the strength of your case more than the credit score you have.
Do You Need to Pay the Loan if You Lose Your Sexual Abuse Case?
Filing a lawsuit means there’s a chance that you will lose the case, even if you are in the right. Losing a sexual abuse case means that you won’t get compensation for the damages you experienced. And when this happens, it’s hard not to think about how you can repay sexual abuse lawsuit loans.
Banks would still need you to pay the loan regardless of the outcome of your case. But if you apply from pre-settlement loan companies, you won’t have to pay for anything unless you win.
That’s the best part of sexual abuse legal funding. You can apply for settlement loans after suffering from damage but before filing any lawsuit. Legal financing can still help you recover with no extra expense even if you decide not to sue your abuser.
Post Settlement Funding
Pre-settlement funding is your best option when you’re undergoing a sexual abuse lawsuit. But it’s important to note that this type of legal funding is not the only option available to you. If you have won your case but still haven’t received any compensation, you can get post-settlement funding.
This type of legal funding will help you pay your bills and other expenses after winning a case. Much like pre-settlement funding, you can repay this money when you have received your final settlement.
You may be wondering why it takes a lot of time for the accused to pay your settlement. Your settlement may still not be available for the following reasons:
- Formal approval of the settlement from the judge
- The number of plaintiffs in your sexual abuse case
- The size of the settlement or approval of the payout’s conditions
- Legal fees
- Completing any outstanding details, such as investigating and clearing any liens
There will also be a delay if the defense tries to challenge the judge’s ruling and take the case to a higher court. You can expect a delay in your settlement by months or possibly years if this happens. Even if you win the initial case, you may still have to wait a long time to get compensation.
Get the Right Compensation With Legal Funding Now
Sexual abuse victims deserve justice and compensation right away. A sexual abuse lawsuit may seem like the last thing you’d ever want to experience. But if you ever need to file for one, you should know more about how legal funding works.
It also helps to differentiate between the many types of legal funding for sexual abuse cases. This way, you can get access to legal money whenever you need it.
Applying for legal financing is one effective way to cope with the financial side of litigation. The long process may have exhausted you, but there is hope for everything. If you’re struggling to pay medical bills due to sexual abuse, consider getting pre-settlement lawsuit funding now.