What is a lawsuit loan buyout?
A buyout is when one funder pays off your existing advance with another company and replaces it with their own on better terms. It is worth doing when your current agreement compounds or has no cap, because the balance on those agreements can grow past the value of your case.
The situation it solves is specific: someone took an advance eighteen months ago at a monthly compounding rate, the case is still open, and the payoff figure has grown to something that will consume most of the settlement.
Moving that balance onto a flat, non-compounding, capped agreement stops the growth. What it does not do is erase what has already accrued — the existing payoff is what gets bought out.
Get Lit Money buys out advances from other funders. Ask your current funder for a written payoff figure and send it to us; whether a buyout helps depends entirely on that number against what is left in the case.
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