1:19 p.m. - 2006-03-07
Lawsuit Loan Dictionary/Definitions
Beacon Legal Finance has expanded our first of its kind lawsuit loan dictionary to help consumers better understand the technical aspects of lawsuit loans. In a lawsuit loan, a plaintiff receives a cash advance in exchange for paying a portion of the future cash proceeds of the plaintiff’s legal settlement. To understand this new type of consumer finance, plaintiffs need to be familiar with the terminology in both the legal and financial fields, but until now have been unable to find a single dictionary on the Internet that explained concepts and terms for both the law and finance. To make the growing litigation finance market more transparent, Beacon Legal Finance has developed and updated a free lawsuit loan dictionary as a service to the consumer. A plaintiff may access the lawsuit loan dictionary at the following link: http://www.legalfundingdictionary.com/

Here is a sample of the new terms added to the lawsuit loan dictionary:

Cash Advance, noun: (1) transaction between a plaintiff and a pre settlement funding where the plaintiff receives cash today in exchange for selling a portion of his/her rights to the future cash proceeds of a lawsuit to the pre settlement funding. Lawsuit loan example: to receive a cash advance from a lawsuit loan company, a plaintiff will need cooperation from the plaintiff’s attorney. See lawsuit funding, lawsuit loan, rights, lawsuit cash advance and pre settlement funding.

Circumstantial Evidence, noun: (1) evidence in a trial which is not directly from an eyewitness or participant and requires some reasoning to prove a fact. There is a public perception that such evidence is weak ("all they have is circumstantial evidence"), but the probable conclusion from the circumstances may be so strong that there can be little doubt as to a “preponderance of the evidence". Lawsuit loan example: to receive a lawsuit loan, the plaintiff’s attorney will have to provide the lawsuit loan company with any circumstantial evidence that shows the defendant is responsible and that there are significant damages. See lawsuit loan, lawsuit funding, evidence, lawsuit cash advance and pre settlement funding.

Compound Interest, noun: (1) interest which is calculated not only on the initial principal but also on the accumulated but unpaid interest of prior periods (interest on interest). Lawsuit loan example: because many lawsuit loans have compound interest that is calculated monthly, it is important that the plaintiff know the annual percentage fee of a lawsuit loan and how much cash is owed by the plaintiff on the lawsuit loan at different points of time when comparing offers from lawsuit loan companies. See pre settlement funding, compound, lawsuit funding, lawsuit loan and lawsuit cash advance.

Beacon Legal Finance is a leader in the litigation finance industry. Beacon Legal Finance is an affiliate of Lawsuit Cash Advance and is found at www.beaconlegal.com. For questions about pre-settlement funding (also known as a lawsuit loan, lawsuit funding or lawsuit cash advance), call toll free 1-800-781-0777.

previous - next