It is a very little known secret that if you are involved in a Qui Tam lawsuit and having fiscal problems, than you may qualify for a non-recourse lawsuit settlement loan better known as Lawsuit Loan or Lawsuit Funding.
Lawsuit Funding – Lawsuit Loan: A Little Known Secret!
Most of Qui Tam litigation plaintiffs and even some lawyers do not know that a plaintiff involved in a lawsuit can use the potential lawsuit settlement as collateral to get a non-recourse lawsuit loan or lawsuit funding.
What is Qui Tam Litigation?
It is an abbreviated version of the Latin phrase – Qui Tam pro domino rege quam pro si ipso in hac parte sequitur – which simply means – Who sues on behalf of the King, as well as for Himself.
How Qui Tam Lawsuit Works:
These lawsuits filed on behalf of the government by private citizens for false claims or fraud. In this litigation a private individual citizen (the whistleblower) who knows of fraud committed against the government may, through his own privately retained attorneys, file a law suit to recover the losses caused by the government fraud.
When the Qui Tam law was enacted:
These laws have existed for hundreds of years, with basic roots in England in the middle ages. In our country, United States the Continental Congress in the early days of government enacted a number of qui tam provisions. Qui tam is a statute under the False Claims Act (31 U.S.C. 3729 et seq.), which allows for a private individual, or whistleblower with knowledge of past or present fraud on the federal government to bring suit on behalf of the government. summons and complaint
This law was revitalized by Congress in 1986, with a significant expansion of the scope of the law.
Benjamin Franklin has been quoted as saying: There is no kind of dishonesty into which otherwise good people more easily and frequently fall than that of defrauding the government.
President Abraham Lincoln, himself a lawyer in private practice before becoming president, was responsible for enactment of the 1863 False Claims Act, which was necessary to protect the government from the fraudulent suppliers of faulty war equipment during the Civil War.
Popular Areas for Qui Tam Litigation:
In the 1980s, most of these cases involved defrauding the defense industry. But today most of these litigations are the fraud involving Medicare, Medicaid, employment law, environmental law, defense contracting, and health care fraud and billing practices.
These cases generally take years to settle or litigate. Most of the times the plaintiffs get into financial problems. Today, millions of Americans are having difficulty paying their debts. Most of those in financial distress are middle income families with jobs who want to pay off what they owe.
But if you are a plaintiff involved in a Qui Tam case. You have a risk-free solution.
What is the Solution?
Good news is that there is an affordable solution. If you have potentially winnable lawsuit, than you can qualify for a lawsuit loan or lawsuit funding. But only very few lawsuit funding companies provide lawsuit loans for pending Qui Tam cases. Because these lawsuits are very complex and are mostly of high potential value. These require a thorough and turn key underwriting system in place. But a reputed lawsuit funding can provide you a lawsuit loan on your pending Qui Tam lawsuit settlement.