Anyone have any experience with a cash advance on a pending lawsuit?
Dmajor asked:
I know the fees are outrageous, but will the fees go higher than the actual settlement? Then do you owe that money?
2 Responses to “Anyone have any experience with a cash advance on a pending lawsuit?”
If the lawsuite is just pending, I would not recommend getting a cash advance. Pending does not mean definite.
Tons. I am a civil litigation paralegal. DON'T DO IT. Regardless of which company you choose to work with, they all rob you blind. You will end up receiving pennies on the dollar,quite literally. I always advise my clients to hold out for the big payoff. Those who don't listen always end up regretting the decision. I am talking about people with $500k, $100k, $50k cases, who borrow 1/2 or even a 1/3 pf the money the attorney intends to win, it never works out the way they planned. Either the settlement ends up being MUCH less than even the attorney expected and you end up belly up on the deal with the advancement co., or the settlement takes WAAAAAAY longer than intended causing the amount you owe to sky rocket and you end up belly up on the deal, or you flat out LOSE your case and then you are really screwed. Don't assume that the company will even advance the money to you, if your situation is high risk, they wont advance because a lot of these companies advertise that if you don't receive any $$ you wont owe them the advancement,,, which really means – if your case is NOT CLEAR CUT then you wont even be considered.
I would highly recommend that you just sit tight and wait for the money to come when it comes. Dont count your chickens before they hatch.
Good luck