Fl Lawyer Discusses Lawsuit Loans! The Two Circumstances Where They May be Beneficial

Hi. I'm Guy DiMartino. I am an injury and accident lawyer, and you may have heard my earlier videos explaining what litigation or non-recourse loans are. If you haven't, you may want to click the link to get some background information on these loans. If you want to see my video where I tell you why I hate these loans, you can click the link now. Today I want to tell you the limited times in which these litigation loans may have some benefit, and may be worthwhile to folks who have been injured in accidents. I believe they are pretty much two scenarios where an injured patient or client may want to consider these loans. The first is where the case has settled, or the case is going to settle within a week or two weeks, but it�s going to take some time to actually sure things up; to handle any outstanding liens or any issues. This is the case where we already have the settlement release or the agreement, and you just need money to float you for a few months until all the funds are disbursed, and all the liens or estates, whatever needs to be done are tied up. This is a good time in which you may want to take or look at these non-recourse or litigation loans. The second scenario is where you have a case where you're really strapped for money because of injuries, and there might be an issue with the case. There might be a liability issue or there might be a potential that the defendant will have some collection issues. You can present this case to a loan company, and of the loan company goes ahead and gives you the money, then the loan company has looked at it and thought that it is a good risk for that company. So, that if something happens and you're unable to prove that the defendant did something wrong so there's no liability, or the defendant goes belly up. This person has received funds from the loan company and this is a non-recourse loan. So the loan company cannot go back to the injured person and say we want to get paid. So if there's no recovery. The loan company accepted the risk and it will not receive any funds or sue you for the monies that it lent you. Overall I'm not a big fan of litigation loans. I've had many clients be mad at me. I've had clients leave my practice because I refused to sign the paperwork allowing them to get loans, because I think that their only a good idea in a couple or limited circumstances. If you have any questions about injury and accident claim or how a nonrecourse litigation loan might play into that you can always give me a call directly on my cell phone at 352-267-9168. Have yourself a great day.