Cost Analysis
The "non-recourse" advance is NOT a loan. Bridgeview (through its underwriters) takes full financial risk on the outcome of your case. Because of this, each and every case needs to be evaluated on its own merits and its costs outlined accordingly. Typically because of the risks and lack of "real collateral", costs are more than that of a traditional loan, such as a bank. However, in most instances, traditional options are not available to plaintiffs against their lawsuits. Therefore, plaintiffs must weigh all factors prior to determining their true "cost analysis" involving their proposed "advance". Below are a few different scenarios to consider:
Need for "cash flow" for Living Expenses
Bridgeview's "advance" is sometimes vital for certain plaintiffs in order to simply pay their monthly expenses and thus provides the only available option to them.
"Bridge" to remain patient
In many cases, the advance provides the necessary "bridge" in order allow a case the needed time to appreciate into its "full value". With that said, many times the costs associated with funding a case actually become cost effective in which the plaintiff is able to walk away with more financial reward in the long run. A brief hypothetical example of this is as follows (does not take into account attorney fees): Assuming Plaintiff is offered $100,000 today to settle his case and desperately needs the $100,000. Plaintiff and his attorney know the case is worth $250,000 if they are patient. Plaintiff utilizes Bridgeview's services and takes $100,000 advance against his suit. Plaintiff eventually settles his case for $250,000 and repays $150,000 for the cost of the advance. Plaintiff nets an additional $100,000 by remaining patient and utilizing Bridgeview's services.
Risk of Case being Unsuccessful
In the event that your case is severely delayed, appealed, or worse-adjudicated without any financial reward to you, you may walk away with nothing. By taking an "advance" today, it guarantees you something for your case regardless of the time process or the ultimate outcome. In other words, "one in the hand is better then two in the bush". All litigation has a certain element of risk, by taking an advance today, you can rest assured that you will not be left "empty handed".
Bridgeview's (underwriters') funding programs provide options for each individual plaintiff and are offered on an "unsolicited basis". Therefore, each plaintiff should evaluate the cost analysis against their specific case and their specific needs. It is the sole responsibility of the plaintiff to review the terms of their advance and determine if it is financially prudent for their individual needs.
Disclaimer
Bridgeview Legal Funding Inc., takes no responsibility in the actual funding of your case, in fact Bridgeview is simply a broker on the transaction between you and a 3rd party funding source, known as our underwriters. Bridgeview therefore, makes no representations or recommendations regarding your ultimate decision to take a "non-recourse" advance, Bridgeview's representatives, simply advise you on this process and ultimately the terms are decided by you the plaintiff. Therefore, it is solely the decision of you, the plaintiff, based on your own personal needs at the specific time, your own due diligence, and clear understanding of your contractual terms whether the "advance" is within your best interest or not. Bridgeview does NOT take any responsibility in this decision whatsoever, and therefore cannot be held liable for any disputes or injuries that you may have in accordance with your advance. Furthermore, since Bridgeview is NOT the actual funding source, we do not opinion in any way shape or form regarding the terms and conditions of your advance as it relates to local, state, or federal laws.
