How Do Granu Floors Lawsuit Loans Work?
You might have heard of the Granuflo Lawsuit Loans. These are the loans for lawsuit funding. The company provides these loans to people who are facing charges in a court of law. The company believes that every person has the right to receive fair compensation for any injury. The company ensures that the loan is repaid to the plaintiff and the creditor mutually.
- 1 There are two ways of availing this loan, one is the secured and the other is an unsecured loan.
- 1.1 The Granuflo lawsuit loans are provided to the individual based on the equity he has in his collateral.
There are two ways of availing this loan, one is the secured and the other is an unsecured loan.
Secured form of the loans can be accessed only by those who have some assets in the name of collateral. The debtor needs to pledge his valuable asset as collateral to access the loan. On the other hand, an unsecured form of the loans can be availed by anyone.
The Granuflo lawsuit loans are provided to the individual based on the equity he has in his collateral.
The money advanced to the plaintiff is not at risk. If the debtor fails to pay back the loan, no collateral will be attached. The only risk involved is higher interest rate. This loan is convenient for the debtor as well as the lawyer.
The interest rates are higher than the other loan options.
This is because the amount of the loan is small and it will not help in taking large cases. Moreover, there are many requirements needed for availing the loan, the most important being that the plaintiff should have a strong case to proceed with the case. To know whether the case qualifies for the loan, a meeting with the attorney will be held to discuss the details of the case. The loan will then be sanctioned.
The attorney will meet with you to evaluate the case. He will then provide you with all the required information about the case. Once you get the information about the case, you can start preparing your documents and compiling your evidence. This process takes some time and the creditor will need more time to get back his money.
The funds are deposited into a trust account in your name.
There are two types of Granuflo lawsuit loans one is secured and the other is unsecured. The secured one requires a property as a security. Hence, you can borrow money using your property. The unsecured loan, on the other hand, does not require any collateral. However, the amount you can borrow and the terms and conditions will be different.
If you win the case, you can receive the amount you requested in three to five months. The attorney will repay the lender who approved the loan once all the documents are ready. The main advantage associated with this kind of lawsuit loans is that the lawyer does not charge any fee until the case is resolved. There are numerous firms offering this service. You can get hold of a reliable company by carrying out a thorough research.
This kind of loans also make it easier for you to handle the entire case easily. The settlement will be handled properly and the attorney does not have to leave the case midway. The repayment of the case loans is done in installments. Thus, the burden is taken off the attorney and you are able to concentrate on the case.
If you have a bad credit history, then there are certain restrictions on the amount of loan you can apply for.
The Granuflo attorney will determine the limit. The Granuflo lawsuit loan company will help the plaintiff submit the case files in the right manner. The firm will help the attorney in preparing the necessary documents and making sure they contain all the necessary information. Once the case files are ready, the attorney can proceed with the lawsuit without any difficulty.
As soon as the case gets resolved, you can repay the loan. There are no penalties involved if the case is lost. However, there are some other requirements such as showing proof that you have enough income and other things.
The case will be considered closed once the attorney submits all the required paperwork. However, you have the option to open a new case if you find that you do not receive the settlement. The firm will assist in finding a new attorney for your case. There are many firms that provide these types of loans and most of them offer free consultations.