1:21 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:

EEOC, noun: (1) also Equal Employment Opportunity Commission. Federal agency in charge of administrative and judicial enforcement of the federal civil rights laws concerning employment-related discrimination on the basis of age, religion, sex, pregnancy, retaliation, disability, national origin, equal pay, race and sexual harassment. Lawsuit loan example: to make a lawsuit loan for an employment discrimination case, most lawsuit loan companies will want to see a copy of the EEOC complaint filed by the plaintiff. See lawsuit loan, pre settlement funding, equal employment opportunity commission, lawsuit funding and lawsuit cash advance.

Effective Date, noun: (1) means the date on which lender pays out the initial cash proceeds of a loan to the borrower and the loan contract becomes an obligation of the plaintiff. Lawsuit loan example: the plaintiff has no obligations under the lawsuit loan until the plaintiff receives the cash from the lawsuit loan company on the effective date. See lawsuit cash advance, pre settlement funding, effective date of the loan, effective date of the purchase, lawsuit funding and lawsuit loan.

Encumber, verb: (1) to burden with a claim, such as a lien on the cash proceeds of a lawsuit. Lawsuit loan example: for a lawsuit loan company to make a lawsuit loan, the plaintiff has to agree not to encumber the cash proceeds of the lawsuit with another lien. This means that the plaintiff cannot receive cash from another lawsuit loan company without the permission of the original lawsuit loan company. See lawsuit cash advance, lawsuit funding, encumbrance, pre settlement funding and lawsuit loan.

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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