Why Lawsuit Loan Requests Get Declined

1915 WordsDec 18, 20168 Pages
One of our most common questions asked by our clients: Why was my application declined or what would cause my application to get declined. Although we receive applications everyday from all over the nation, on average we only end up approving about 30% of those applications. The other 70% of applications get declined for various reasons. The goal of this article is simply to inform consumers why lawsuit loan requests get declined. In no particular order, below is a list of the Top 8 Reasons for Declined Lawsuit Loans: 1. Client does not have an attorney 2. Client has a case type we cannot fund 3. Client has a fee agreement instead of a contingency agreement with their attorney 4. No "Equity" in the case 5. Attorney will not cooperate 6. Bad contact info 7. New case 8. Missing key paperwork (documentation) We 'll address each of these reasons below: Reason # 1: Client does not have an attorney This is always an immediate deal killer. As an investor in lawsuits, we insist our client 's cases are being represented by a professional attorney. This requirement provides us with reassurance that not only will your case be handled correctly according to legal procedure but also when a settlement is reached, the attorney as an independent third party, will make sure we get paid back. Without an attorney in the picture we have no assurance a client will pay us back. Reason #2: Client has a case type we cannot fund Sometimes we get applications that may be great
Open Document