The Financial Help You Need When 'Conventional' Has Left The Building
'Conventional' refers to banks and other mainstream financial institutions. 'Non-conventional' is everything else.
TriMark Legal Funding LLC specializes in a non-conventional form of financing called non-recourse legal funding.
It is referred to by a variety of different names such as lawsuit funding, lawsuit loans, case funding, law cash or lawcash, a lawsuit cash advance or settlement loans. Whatever you call it, litigation funding is designed to provide financial help to a specific group of people with unique circumstances and very specific needs.
In a nutshell, we do what banks consider too risky and are either unwilling or unable to do.
Is Lawsuit Funding expensive?
Expensive is a relative term so the question you really need to ask yourself is "compared to what?"
Compared to simply waiting for your case to settle while in the meantime you are forced to sell, pawn, yard sale, eBay, Craigslist or by some other means liquidate everything you've worked decades to accumulate just so you can pay rent and buy food then no, lawsuit funding is not expensive. In fact, it's cheap.
Compared to the enormous emotional toll, financial costs, humiliation, indignity and embarrassment you'll suffer from losing your home to foreclosure, your car to repossession, your apartment to eviction, your marriage to money problems or having to explain to your kids that you can't afford to buy food or pay rent, the water or electric bill or any other of life's basic necessities then once again no, it's not expensive; it's cheap.
Compared to pulling money out of an IRA or 401(k), well, the short answer is "it depends". You should carefully weigh the costs, fees and penalties that you will incur for taking an early withdrawal on your 401(k) or IRA and also consider any other impact a withdrawal could have on your retirement plans. And keep in mind the fact that legal funding is non-recourse; meaning that unlike a conventional loan or 401(k) withdrawal, you only repay the advance if you win your case. Consult your financial planner to determine if this option makes sense for you.
Compared to other funders in this industry, our Best Deal Guarantee
ensures that you won't get a better deal anywhere else so comparatively speaking, lawsuit funding with TriMark Legal Funding LLC is, once again, cheap.
Compared to a 5% signature loan down at the bank or other conventional financing** such as a real estate secured loan or a personal loan based on good credit, lawsuit funding is more costly. But the reality is that clients who need plaintiff funding
don't have good credit and don't usually have unencumbered real estate to use as collateral or they would have gone that route already. In addition, in many cases legal funding clients are unemployed, underemployed, are receiving disability and/or workmans comp, don't have regular income and cannot make monthly payments either. As such, they would never qualify for conventional bank financing in the first place so this type of comparison is really a non-starter.
** For absolute clarity, if you can qualify for conventional financing or borrow money from a family member, we strongly encourage you to do so first and consider lawsuit funding as "financing of last resort".
To present a fair comparison however, one must consider the fact that non-recourse lawsuit funding does not require monthly payments like a bank loan would and is available to people with bad credit, no income, no employment, no cosigners and no real estate collateral. Combine this with the fact that repayment is only required if there is a monetary recovery on your case and you begin to realize that the investors who provide this financing are shouldering 100% of the risk and are therefore entitled to charge more for incurring such risk.
Who is Lawsuit Funding For?
Plaintiffs and plaintiff's attorneys only; we do not work with defendants - ever. Settlement funding is for plaintiffs who are in either a pending lawsuit (called pre settlement funding) or a recently settled personal injury or other type of lawsuit (called post settlement funding), or whose case was won and has been appealed by the defendant (called appeal funding). And for people who have already settled their case and are receiving periodic payments from a structured settlement annuity, we can buy structured settlements payments for a lump sum of cash.
Our typical client cannot qualify for conventional financial products due to bad credit, limited or no current income, limited or no current employment, limited or no current ability to make regular monthly payments and/or no real estate collateral. Their finances are also such that they would be unable to repay the lawsuit advance if they do not receive a monetary recovery.
Other types of financial assistance available
TriMark Legal Funding LLC also offers a number of alternative financing solutions for attorneys including attorney funding, law firm financing, lines of credit and attorney fee acceleration.
We also offer medical financing for medical lien portfolios.
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