Lawsuit funding expert witnesses may opine on litigation finance, litigation financial options and attorneys fees, among other topics. Here, attorney Julian Strauss answers the question: What is lawsuit funding?
If you are like most people, you probably did not know lawsuit funding existed until you found yourself in a situation where you needed it. So what is lawsuit funding? It is a cash advance against the expected settlement of a lawsuit. In other words, it is an advance on the settlement of a case that has NOT yet settled. This not to be confused with the purchase of future payments from a case that has already settled. These future payments are known as a “structured settlement”. Lawsuit funding are advances on cases that have yet to settle. These advances are sometimes also called a “lawsuit loan” or “pre-settlement lawsuit funding”.
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