Jeffrey Cohen Golden Pear Funding Discussions on the Evolution of Litigation Funding

Cohen's Fashion Optical successor Jeff Cohen explains the litigation funding process of Orchard St. Funding.

NEW YORK, NY, June 08, 2016 /24-7PressRelease/ -- What is Litigation Funding? It is a notion that is highly beneficial to most peoples especially those that are involved in a lawsuit. Litigation funding is mostly used in cases of personal injury.
It is not limited to personal injury cases only. Litigation funding is also applicable in other types of lawsuits in which victims are seeking settlement funds for their hardships.

Litigation financing is also known as legal financing, professional funding, third party funding, legal funding or settlement funding. In simple terms, you can say that litigation funding is the process through which plaintiffs can finance their lawsuits or other legal costs though litigation funds or a third party funding company.

Now, let's look at Litigation Funding's evolution from the prohibition times in Ancient Greece to its present day position as the backbone of the justice system. Litigation funding was first legalized in England and Wales back in 1967 and as the years went by, it was embraced by one country after another.

However, most people did not realize that legal financing existed. This was not until 1997 when the process was recognized and implemented. The American Legal Financing Association (ALFA) was time-honored in New York as a non-profit corporation in July 2004 and ever since; it represents about 20 legal funding companies nationwide for personal injury victims. Presently United States of America is a believer of litigation funding and its benefits to its victims.

Basically, the litigation (lawsuit) funding was introduced to address the liquidity concerns of individuals who are facing financial hiccups while they wait for their litigation to be resolved. In addition to this, litigation funding has been used for various cases from sexual harassment to employee's compensation and so many more since its implementation.

Many jurisdictions were slapped with thousands of cases, so plaintiffs often had to wait for years and months for their cases to be settled. It is as a result of this hat lawsuit companies offered their clients immediate cash against the future expectations of the case.

Nowadays, lawsuit or litigation funding business is becoming more and more efficient. Although this seems fairly simple, cheap and straight forward, Jeffrey Cohen, the CEO and founder of Golden Pear Funding, one of the top leading legal advance companies in the USA, claims that one needs the knowledge and skills to deal with the intricacies of this process.

About Jeffrey Cohen - Golden Pear Funding

Jeffrey Cohen, Founder and CEO, has 8 years of experience in the same position at Golden Pear Funding, one of the top three national legal advance companies in the United States today. Mr. Cohen is also President of the Cohen Group, a private equity company managing a variety of investments and President of Operations for General Vision Services.

Jeff Cohen is the successor of the New York City's famous Cohen's Fashion Optical. Today, there are over 100 Cohen's Fashion Optical stores in major mall and city locations throughout seven east coast states and Puerto Rico. Learn more at http://www.goldenpearfunding.com

---
Press release service and press release distribution provided by http://www.24-7pressrelease.com