Need to Know About Pre-Settlement Funding

7 Things You Need to Know About Pre-Settlement Funding

A lawsuit can strain your finances, especially if you need to pay for legal fees or other personal expenses while you await a judgment. Pre settlement funding can help you get through these difficult times. It can also give you more time to negotiate a fair settlement with the defendant.

It’s A Cash Advance.

Many personal injury victims struggle with medical expenses, lost wages, and other bills as they wait for their cases to settle. These costs can be devastating and create a tremendous amount of financial pressure.

To get a fair settlement from the insurance company or defendant, plaintiffs need access to cash now. Getting a lawsuit loan, also known as pre-settlement funding in legal recourse, is one way to get cash while you are waiting for your case to settle. The company providing the advance determines how much to give you based on its evaluation of your case. They usually agree to give you anywhere between 10-15% of the value they believe you will receive in a future monetary award or settlement.

It’s Not A Loan

If you’ve been injured in a car accident or suffered a work-related illness, you may have lost your job. The loss of a regular paycheck can be overwhelming, even if you have no other obligations. A good pre-settlement funding company won’t require an application fee or even a credit check. Instead, they’ll talk to your lawyer about the merits of the funding and offer a cash advance to the tune of about 20% of what they estimate your settlement will be. They’ll also have a few interesting facts to share with you. They should also be able to deliver the goods in a reasonable timeframe. The best companies will even have a customer service department to answer any questions that come their way.

It’s Not A Credit Check.

Often, accident victims find themselves in need of financial relief after they are no longer able to work due to injuries sustained in an auto accident or medical malpractice. These cases can be very lengthy and take months to settle, leaving their lives in disarray and causing immense stress. Pre-settlement funding is a legal recourse can help people to overcome these financial challenges. It is a way to secure the cash needed to pay bills and living expenses while their case is pending.

It’s Not A Guarantee.

Having to fight off insurance companies in court can be stressful and expensive. Not to mention, you may not be getting the settlement you deserve or even need to keep up with the bills and a decent quality of life. Taking out the best pre-settlement funding company available is no small feat, and you need a solid legal team to make it all come to fruition. We have been in business since 2002 and can help you navigate the waters. To learn more about your case or to get a no-obligation quote for your next lawsuit, please contact us today. Our attorneys are more than happy to talk you through all your options and assist you in finding a suitable legal solution to your unique situation.

It’s Not A Form Of Insurance.

Let’s face it; if you’ve been injured in a car accident or have suffered from medical malpractice, you might be unable to work for years. In the meantime, you’re going to need cash in order to make ends meet and cover your legal fees. A pre-settlement funding company isn’t your typical loan lender, but they’re still a good place to turn if you need some financial help. They’ll likely be able to offer you the best possible loan size based on your case’s strength, expected settlement amount, and other metrics. Ideally, you should find a company that offers a no-credit-check option and the best possible interest rate on their pre-settlement funding. You should also be sure to read the fine print on their terms and conditions carefully before you sign anything.

It’s Not A Debt

If you’ve been injured in a motor vehicle accident or suffered from medical malpractice, you may be struggling financially. Not only will you have medical bills, but also you may be unable to work. Having no income to cover your bills and other expenses can create an impossible situation for you until your case settles. Pre-settlement funding is a type of financing that you can receive as an advance against your expected class action lawsuit settlement. This type of funding is non-recourse, meaning you don’t have to repay the loan unless and until you win your case. If you’re interested in learning more about this legal recourse, don’t hesitate to contact us! Our team of experts is standing by to answer your questions.

 Need to Know About Pre-Settlement Funding
Need to Know About Pre-Settlement Funding

It’s Not A Way To Get Out Of Debt.

If you’ve been fired from your job, have an injury that keeps you out of work or prevents you from working as often, or have lost income due to a lawsuit, you’re likely facing financial difficulties. Without a steady paycheck, you may start to carry debt and end up going into default or even bankruptcy. Fortunately, there’s now a way to avoid this and keep yourself financially stable until you receive the settlement or judgment that you deserve. Pre-settlement funding is a legal recourse that is a cash advance that does not require a credit check or employment verification, and it usually is paid back only when you receive your case settlement. It also gives you the leverage you need to negotiate a higher settlement or verdict.