It’s been many days that I couldn’t find anything to write on. Doesn’t mean nothing has happened, but I couldn’t make myself to write on happenings. I’ll be writing on happenings later but before that something I discovered, (It’s not my discovery in fact, but came to know about its working now). Well, it’s lawsuit settlement loans, whereby a financer buys a part of a plaintiff’s anticipated settlement in order to make him financially solvent until a particular date.
This is very interesting as if the plaintiff fails to receive the anticipated settlement, the financer will not collect that amount. This feature makes this sort of loans a bit more risky, so it’s recommended that the financer should carefully judge the validity of a case and the plaintiff’s potential for future settlement before advancing such a loan.
Well, coming to the point, I’ve been thinking the practical validity of this type of loans in Pakistan if we can incorporate them. That’s not practically invalid, but I think, needs much more clear terms, and here the risk becomes double than that of what can be expected in developed countries, so the incorporation may not be as successful here. That may be one point while thinking on the grounds set by people who took banks towards a negative end, but hope of having a fair positive attitude by same people is still there.