Covered Bridge Capital invests in legal claims brought typically by individuals who have suffered a personal injury as a result of another party’s negligence. In other words, we purchase an interest in a plaintiff’s case by paying him or her money today in return for the promise of repayment in the future if and when the claim is successfully resolved.
By way of example, say an individual driving a car is distracted when his cell phone falls from his hand. While attempting to catch the phone, the driver veers off the road and hits a telephone pole. A passenger riding along in the car is injured in the accident and thereafter pursues a claim to recover money for his injuries. While the passenger awaits his day in court, he remains out of work due to his injuries and, as time passes, he becomes increasingly less able to cover his financial obligations. With family, friends and other sources of financial support having been exhausted, the passenger turns to us, Covered Bridge Capital. He asks us if we would agree to purchase an interest in the future and potential proceeds of his case in return for a payment of $5,000.00 today. We agree. Problem solved.
How Does It Work?
If you are a plaintiff currently pursuing a claim for personal injuries, you may be eligible to receive money today in return for a promise of repayment if and when your claim or lawsuit produces a recovery. We say “if” because your repayment is contingent upon your claim being successful. In other words, if you lose your case, you will not owe us any money. In legal or banking parlance, this is known as a non-recourse loan.
To initiate the process, you must complete an application (click here). We will then conduct a review of your case based on the information you have provided therein, along with any additional information we may require. Acceptance of your application will be based on our findings.
Assuming we accept your application, we will then submit to you an offer in the form of a written agreement, which will include a schedule of the total amount of money that will be payable to Covered Bridge Capital according to the timing of your case’s successful conclusion. This agreement will be considered a legally binding contract that must be signed by both you and your attorney.
Once the agreement has been signed and returned to Covered Bridge Capital, funds will be made available to you within 24 hours or sooner.
At the successful conclusion of your case, any money owed to Covered Bridge Capital will be paid directly by your attorney out of the case proceeds.
Once again, if you fail to win your case, then the money paid to you by Covered Bridge Capital remains yours without any obligation of repayment.
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