Who Is Evaluating My Lawsuit Cash Advance

When you apply with a lawsuit funding company you may be asking yourself, who is evaluating my lawsuit cash advance. It’s first important to understand that without the necessary legal papers, no one will evaluate your request. When you apply to borrow funds against your case someone must first evaluate your lawsuit before offering you a lawsuit cash advance against it. The person that evaluates your request is called an underwriter.

Is the underwriter always the same person for each applicant?

No. The underwriter for one case may be different for another. This is because not all underwriters are experienced in all cases. An underwriter that evaluates a personal injury case may be different than one that evaluates a commercial case.

What are the backgrounds of those evaluating my lawsuit cash advance?

An underwriter is typically an attorney or insurance adjuster. Many of the different hedge funds in this industry are run by attorneys. These attorneys have years of experience both practicing a certain area of law and underwriting cases for lawsuit advances. The attorney that is underwriting your case likely has experience in your case types. This means if you are apply for financing against a car accident, he or she probably has litigated car accident claims. This is the same for a patent case. If you are requesting money on a patent infringement the underwriter will have a good understanding of the case type.

Do some companies outsource the evaluation process?

Yes. There are some companies that outsource the whole underwriting process and others that will only outsource the case if they want a second opinion or unsure of an area of law. If a case is very complex the underwriting process can take a little longer. This is because a company will need to be sure they are investing in a good case before they provide an advance to the client.

Once the underwriter is finished evaluating my lawsuit cash advance request will he or she be ready to offer an advance?

It depends upon a few factors. If the underwriter is positive after evaluating your lawsuit loan request you will win your case, they will make an offer. If they are unsure of your case they may request a conversation with your attorney. If they believe you will lose your case, they won’t lend on the request. There are also times in which the lender may ask you to wait a little longer and apply at a later date. This is not because they would like a little more information before making the investment.

If you are evaluating a lawsuit cash advance against your case and have questions on who is looking at your case, contact us today. We provide legal loan services throughout North America.