Wrongful dismissal is a legal matter where an employee’s contract was terminated for illegal reasons or if the employer violated a company policy when firing an employee. Many people suffer from wrongful dismissal without them knowing it. Experts have estimated that around 250,000 each year are illegally and unjustly fired. Some might feel discouraged from filing for wrongful dismissal because of the legal fees that have to be paid.
The good news is that there are loans which provide funding for those who have suffered from wrongful dismissal. Wrongful dismissal lawsuit funding is a non-recourse cash advance that is offered to a complainant who is involved in a wrongful dismissal litigation. It is granted to a complainant even before he has settled the lawsuit.
Persons eligible for wrongful dismissal lawsuit funding are anyone who believes they were fired for unjust and illegal reasons. With the help of an attorney, one can determine his eligibility for a lawsuit loan or funding on his pending lawsuit settlement. Most complainants do not even know that they could use this lawsuit settlement as a collateral to avail of a pre-settlement cash advance even before they have settled their lawsuit.
A wrongful dismissal lawsuit funding is different from regular types of loans because it is a contingent transaction, which means cash advances are based only on the merits of the litigation. It is only called a loan but it is not exactly so. The complainant does not have to pay it back unless the case has been won or settled. And the reason why it is a secured and guaranteed non-recourse debt is because of the condition that when the litigation has reached a verdict that is in favor of the defendant then the loan from the lawsuit is forgiven and the complainant need not pay it back.
A lawsuit funding can greatly help the complainant. A lawsuit fund enables the complainant to be relieved of financial problems as well as resist financial pressure to accept the first offer of the defendant’s attorney, which in many cases is a low ball offer. Lawsuit funding also gives complainants and their attorney more time to get the maximum possible value for the case.
Wrongful dismissal may be also known as wrongful termination, illegal discharge, illegal dismissal, unfair dismissal, illegal termination, wrongful discharge, and wrongful firing. The important thing here is the reason why the employee was discharged or fired. Reasons for termination like discrimination or retaliation are grounds for wrongful dismissal. Also, if an employee refuses to commit an illegal act and was terminated for his refusal and if the employer does not follow the proper termination procedure, then the employee can file for wrongful dismissal and avail of lawsuit funding to help in the process.