1:29 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:

Obligation, noun: (1) legal requirements that require parties to perform certain acts as outlined in the contract. Lawsuit loan example: if a plaintiff receives a lawsuit loan, the plaintiff, the plaintiff’s attorney and the lawsuit loan company have an obligation to follow the terms outlined in the lawsuit loan contract. Under the lawsuit loan contract, the plaintiff has an obligation not to accept money from another lawsuit loan company without the written approval of the original lawsuit loan company. See lawsuit loan, lawsuit cash advance, contract, lawsuit funding and pre settlement funding.

Order, noun: (1) a direction of the court on a matter incident to the main proceedings that adjudicates a preliminary point or directs some step in the proceeding. If an order closes the matter and prevents future hearing and investigation, it is a final order, but an order that does not completely dispose of the subject matter of the controversy and settle the rights of the parties is not final. Lawsuit loan example: for a plaintiff to receive a lawsuit loan, the plaintiff’s attorney must provide the lawsuit loan company with all the documents on the case including any court orders. See lawsuit loan, lawsuit cash advance, final order, lawsuit funding and pre settlement funding.

Origination Fee, noun: (1) fee charged to a borrower by the lender for the cost of processing the loan. The origination fee is usually subtracted from the money that the borrower is supposed to receive. Lawsuit loan example: when comparing pre settlement funding companies, a plaintiff should make sure they know if the pre settlement funding company charges an origination fee when determining the total cost of the lawsuit loan. See pre settlement funding, lawsuit funding, lawsuit loan, processing fee 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.

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