What to Consider Before Getting Litigation Funding

Getting involved in a court case is not only stressful but it can also be very expensive. Your lawyer’s fees will be the most costly part of the whole process. If you’re planning on finding assistance through a litigation funding company, to help you manage the costs until after the case is resolved, then here are the most important things to consider.

Know exactly what you’re looking for:

When looking for a litigation funding company, avoid the ones who are offering you promises or asking for upfront payments. They’re the ones who are supposed to be helping you so they shouldn’t be asking you for money when they know you haven’t got it.  Make sure you look for a company that evaluates your case and offers you genuine help.

Find out if your case can be considered for litigation funding:

You need to discuss your current financial situation with your lawyer and tell them that you are considering getting litigation funding to help with costs. This is because when applying for funding you will be required to provide specific information that only your lawyer would know.  However you should always be aware of the information being exchanged as for privacy reasons some information should remain between just your and your lawyer.

If you have any questions about litigation funding then don’t be afraid to ask. It’s perfectly fine to ask the funding company anything you might want to know such as the terms and conditions involved and any fees they may charge. This will help to avoid any unpleasant surprises in the future.

Look for only one funding company:

Applying for litigation funding takes up a lot of time and effort. You want to make sure that these litigation funding companies aren’t going to sell your case to other companies. Choose a litigation funding company carefully by talking to several different ones and seeing what they all have to offer you.

Refer your funding agreement:

When considering getting litigation funding to help with costs you must always discuss the contract with your lawyer first before signing anything over. That way you don’t have to be trapped by a contract which could end up being disadvantageous to you in a later date.