1:32 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:

Rate of Return, noun: (1) annual rate of return on an investment, expressed as a percentage of the total amount invested. Pre settlement funding example: when determining the rate of return for a lawsuit cash advance, the pre settlement funding company does not take into account the credit risk of the borrower. See lawsuit cash advance, lawsuit funding, purchased interest, pre settlement funding and lawsuit loan.

Real Evidence, noun: (1) physical evidence. Tangible evidence (as a weapon, document, or visible injury) that is in some way related to the incident that gave rise to the case. Lawsuit loan example: for a plaintiff to receive a lawsuit loan, the plaintiff’s attorney will have to give any real evidence to the lawsuit loan company. See lawsuit cash advance, lawsuit funding, evidence, pre settlement funding and lawsuit loan.

Recourse, noun: (1) personal liability, responsibility or obligation. If a borrower has limited his/her obligation under a loan to a particular pledged asset, such as the future proceeds of a lawsuit, then his/her obligation under the loan is considered non recourse because there is no personal obligation to the borrower. Lawsuit loan example: a lawsuit loan is considered a non recourse obligation of the plaintiff because the lawsuit loan is paid back only from the future proceeds of the lawsuit and not from the personal assets of the plaintiff. See lawsuit loan, lawsuit cash advance, contract, pre settlement funding and lawsuit funding.

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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