Finance Litigation

Why my lawsuit loan is declined ?

Recently I submitted application for lawsuit loan or lawsuit funding and to my astonishment they rejected me. I heard that in this industry, pretty much they have high acceptance rate since they don't require any credit check. I was told that they were unable to fund my case without any clearer explanation, does anyone know what are the typical reasons that make your lawsuit funding loan rejected?

Public Comments

1. lawsuit loans are based on the likely-hood of a good turnout so it seems they think you do not have a good chance of receiving a settlement sufficient to pay back the loan
2. Get an attorney to help you out. There are some atty.'s that are paid by the state that will help you for FREE.
3. obviously you have a lousy case. Nobody loans money to anyone unless two things come together: There is a good chance they will get the money back They can actually make some money off of the loan Lending money is not charity...it's a for profit business. Assuming you really do have a good case, get yourself a good contingency lawyer and let them underwrite the costs for the case, being prepared to compensate him richly for his largess. If a contingency lawyer won't take your case, it's a pretty good bet that you don't have a winner. Why do you need a loan anyhow? That makes little to no sense.
4. It sounds as if they have not rejected you yet, you said they stated that they wanted a "clearer explanation". If this is the case you need to talk to them and find out what they need. These companies want a guarantee that they will get paid. If the case was still in the appeals process or they may feel that the other party will not pay they could reject you.
5. what happens if you lose the lawsuit - there are no guarantees or it my take years to get thru court and be resolved - that type of loan is risker than a subprime mortgage
6. Here are five things that often make your lawsuit loan declined: 1. Inaccurate Contact Information Are you sure you enter the right phone number and attorney information? That’s why it’s important to double check your contact data such as your phone number. attorney contact and social security number. If they can’t communicate to your or your attorney then perhaps they just don't bother with it. 2. Uncooperative Attorney Often attorneys will refuse to cooperate for lawsuit loan. Perhaps they have called your attorney beforehand and your attorney refuses to cooperate. 3. New Case or low equity case Perhaps your case is too new that it's hard for them to make decision. Perhaps it's too low in equity also. 4. Ohio & workman's compensation I heard that they are unable to fund plaintiff case in Ohio as well as workman’s compensation in several states. 5. Incomplete Paperwork I think this is not your case since you are already rejected before you even have further talk with them.