Joblessness has become epidemic in America over the course of the recession. Unemployment benefits are the federal safety net for Americans without a job and with inescapable bills to pay. If federal extensions expire, which is anticipated due to opposition in Congress, as many as two million Americans would be facing poverty without government assistance as early as February. For those that turned to unemployment benefits to sustain themselves over the duration of a negligence lawsuit, this could spell ruin.

Oftentimes, the circumstances that lead plaintiffs to engage in a lawsuit are the very circumstances that lead to their unemployment. As it stands, a plaintiff could already be living from unemployment check to unemployment check, waiting for a fair settlement to get them back on track with their payments. For those still seeking medical treatment for injuries that have kept them out of a job for over a year, the expiration of federal assistance could be devastating. This is where a lawsuit loan could become most beneficial.

Unlike a traditional loan that you negotiate with a bank, eligibility factors for a lawsuit loan do not include credit approvals or employment history checks. A lawsuit loan company will judge your application based solely on the merits of your case and whether it shows strong liability and clear damages. The strength of your case will determine the amount of investment that a pre-settlement loan company is willing to put forth so that you can continue to pursue litigation. Individual circumstance also comes into play when determining the interest rates on each case that a lawsuit loan company chooses to fund. Based on the strength of each individual case, your loan benefactor will draw up an agreement that assigns a fraction of your total settlement to loan repayment. With the right company, the process can be simple and quick.

With a lawsuit loan, you can get a cash advance immediately to pay down necessary expenses such as medical bills, mortgage payments or rent, electricity bills, and education expenses. Some of these payments might have even lapsed as you tried to live off an unemployment check. If a plaintiff’s financial stability is threatened by the expiration of their extended unemployment benefits, they may be compelled to accept a low-ball offer for a settlement. Instead of accepting a settlement that is less than your case is worth, you should consider whether a lawsuit loan offers a potential bargaining chip and the key to financial relief from mounting debt.

The benefits of a lawsuit loan are multi-fold and can help you not only fund your case, but provide you with the relief you need to begin taking steps to reassemble your life.

About the Author: Steven Medvin is the Executive Director of SMP Advance Funding, LLC, which provides lawsuit funding to individuals who need a lawsuit loan for pending lawsuits. For more information please visit:

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