I currently have a case going on that is likely to settle within the next 6 months, worse case scenari is £500,000 GBP, but expected to be 7 figures.
I currently pay out expenses of just over £3,500 per month, £60k in total for legal and medical expenses.
I am currently looking at private banking for help and future investment, but dont like the commitment terms they are offereing.
Does anyone know of how I can approach personal lenders. My case is sound, so there is no risk. I would then be in a position to invest where I want too rather than have to take the terms on offer for the next x years.
I have legal documentation and my solicitor would help in any way needed. My high street bank, Lloyds TSB wasn't interested even when they asked for an underwriting and got it!
Thanks in advance
2006-12-03 02:27:55 · 2 answers · asked by mrg 1 in Business & Finance ➔ Credit
All I want to know is what sort of a case it is!
2006-12-03 02:30:34 · answer #1 · answered by helly 6 · 0⤊ 0⤋
There are no sure things or guarantees when it comes to litigation. A lawsuit can go either way. For a lender to make a loan on such a venture would be very risky. If you lose your lawsuit, then the lender has no recourse unless you have other assets which you can pledge. If a private lender would be interested, they would likely want a percentage of any settlement. That could cost much more than conventional loans. If you can tough it out, you will be much better off, provided you win your case.
2006-12-03 02:51:55 · answer #2 · answered by Flyby 6 · 0⤊ 0⤋