Everything You Need To Know About Litigation Funding

What Is Litigation Funding?

When looking into anything in the law industry, the term ‘litigation funding’ is probably something you’ve heard being thrown about but I bet you’ve never really paid much attention.

Litigation is a daunting prospect. It’s not cheap, can take years and can be pretty risky. The combination mentioned can be enough to put a business off from the get go, but if you’re interested then read on. If you want to make a claim against a business for whatever reason but cannot afford all of the court costs, litigation funding could be the way forward for you. Companies that offer the service are essentially looking for an assured win.

They will assess your case and if the chances are high that you will win, they can invest the money to cover the court costs. That’s litigation funding in short. Of course there’s a lot more involved legally when you go deeper into it, but that’s the basics.

It is important to remember that although litigation funding companies have experience in law, they are not part of your legal team. Most of these companies will be happy to advise you, but they will not get involved legally with your case.

If the case is lost, the funder will lose out on the money that has been invested and may be liable for some of the costs of your case. If the case is won, the funder will receive a percentage of the amount awarded.
Okay, Got It.

Which Company Should I Go With?

When dealing with this kind of legal situation, it is important to put your case before a well-respected litigation company. Whilst researching for this article we came across Woodsford Litigation Funding.
Woodsford has years of experience dealing with cases of different sizes. There are however a couple of things that they require when taking on new clients.

• The claimant must have suffered provable damage of at least £3 million
• It’s vital that the defendant has the financial strength to meet the claim
• The claimant must have a credible strategy as to where and how judgement against the defendant will be enforced

For more information about Woodsford Litigation Funding, visit the company website and read through their terms to see if your business is eligible.