Shawn Swail: A solution to this problem is a financial loan a Plaintiff can obtain called a litigation loan. Litigation Loans are loans made to injured people who are involved or are about to be involved in a lawsuit to recover money for their injuries or loss, commonly called "personal injury" lawsuits. These loans are sometimes called Legal Loans, Litigation Funding, Legal Funding, Litigation Funding, or Legal Financing, amongst many common terms! Sometimes these loans are obtained to provide ongoing financial assistance to the injured person to pay bills, for example.
Sometimes these loans are used to assist paying for the expenses of your lawsuit to assist you lawyer. Whether the loan is to help you get the treatment you need to recover, to help with bills or emergencies, or to help win your lawsuit, the loans are paid back only when the lawsuit ends. This can take the financial pressure off recovering and assist the Plaintiff in ‘sticking it out’ until the lawsuit finally ends and the Plaintiff’s lawyer can get the full compensation the Plaintiff is entitled to. There are no credit checks or job verification. No collateral is required. And there are no monthly payments required on the loan. Traditionally these loans do have higher interest rates than normal bank loans, however they do provide financing when banks will not.
One such lending company is Canada West Litigation Advance based in Kelowna, BC, of which the writer is a founding partner.