Litigation funding for personal injury plaintiffs is increasingly common, due to the myriad benefits it affords those heading into a costly legal battle. However, funding isn’t just about the money.
Does Consumer Legal Funding Put Consumers in Debt?
Litigation funding for personal injury plaintiffs is increasingly common, due to the myriad benefits it affords those heading into a costly legal battle. However, funding isn’t just about the money.
Legal Scoops details the main benefits of pursuing legal funding for personal injury plaintiffs:
- Justice. One of the most valuable aspects of third-party legal funding is that it increases access to justice. Funders allow more people to access the legal system in a fairer and more equitable manner.
- Protection for the public good. The credible threat of lawsuits for illegal or unethical behavior is bound to keep businesses and insurers honest. Without backing from funders, even plaintiffs with strong cases may fall victim to lowball settlements.
- Managing Risk. Experienced funders can advise on legal strategy and tend to have more experience when it comes to litigation, insurers, experts, and may be better equipped to navigate your case type. At the same time, funders have no decision-making power in the cases they fund—so the plaintiff makes the calls.
- Efficiency. Funders know how to reduce the time duration of cases and how to best minimize costs.
Third-party legal funding is an innovative way to pursue a personal injury matter, and may have even more benefits than pure financing.
