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Litigation Capital Investors
Is an advance a loan? No. When we make an advance to you, we purchase a portion of the proceeds of your case.
What if I lose my case? An advance is different from a loan because if you lose your case you keep the advance and owe nothing.
What if I win my case, but don't get enough to pay the full amount owed for my advance? In that situation, we are paid the amount you recover -- the remaining amount is written off and you owe nothing more.
Are there any up-front fees or monthly payments? No. Another difference between an advance and a loan is that you pay nothing until you win your case.
What is the process? As mentioned above, when we make an advance, we buy part of your case. Cases are evaluated on several criteria, including liability, damages, insurance coverage, where it is pending, and stage of development. We will send a fax to your attorney requesting information about how the accident happened, the defendant's insurance, some medical records showing the nature and severity of your injuries, and other pertinent documents. After we receive this, we will call your attorney to review your case and ask any remaining questions. Then we will notify you to let you know if your request for an advance has been approved.
How long does the process take? In most cases requests for advances are approved within 1 to 2 days after we receive the documents and information we need from your attorney. When your request has been approved we will fax or email a contract to you and your attorney so that both of you can review it and discuss it. When the signed contract is returned to us we will send the money to you by wire transfer directly into your bank account, or, if you don't have an account, we will send you a check by Federal Express.
How much can I get? It is important to remember that we do not buy your case, but only a portion of your expected recovery. Generally we will advance up to 10% to 20% of our estimate of the value of your case. The maximum amount we will advance for a particular case depends upon the nature of the case, how long we think it may take to conclude it, and the quality of the case. Most advances are in the range of $2,500 to $20,000. However, we have provided numerous advances for much more, up to $2 million.
May I get more than one advance? In high value cases it is common for us to provide several advances. You will save some money if you obtain several advances for smaller amounts at different times as compared with one large advance because you would avoid a lot of interest.
I need a monthly income. Can you help me with that? Yes. One of our more popular programs provides monthly advances for a period of time, for example, $2,500 per month for a year. At the end of that period if your case is still pending and you want to continue receiving monthly advances we can consider extending it for another term. We can design a series of monthly advances to meet your needs so long as your case is sufficient to qualify for it. Of course, if your case is settled you merely notify us and we stop sending the monthly advances. In fact, you can stop them any time you wish.
What if I already got an advance from another company? If your request is approved, we will advance enough additional money to pay off the amount you owe for the prior advance so that you can refinance that deal at our lower rates. This is an additional benefit of our program; not only can we advance funds to you at a lower cost than most other funders, we also save you additional money by refinancing previous high-rate advances.
Can I pay off the amount due for my advance before my case is over? Yes. You may pay it off at any time with out any pre-payment penalty.
Can I get an advance if I have bad credit, am unemployed, or filed bankruptcy? Yes. Because this is not a loan we are not concerned about your credit history, a past bankruptcy, or whether you have a job. Our decision to make an advance is based on our evaluation of your personal injury case.
Do you get involved with my case? No. You and your attorney retain complete control of the case and any settlement negotiations. We do not interfere with how your case is handled. We just wait for you to win.
