If you’re in the midst of a legal battle, navigating through complicated court procedures and dealing with financial pressures, know that there is an avenue to help get you the settlement amount you deserve: pre-settlement funding.
Instead of having to feel pressured to accept low settlement offers, pre-settlement financing can provide you with the money needed to fight your lawsuit so that it resolves on terms you can be satisfied with. Don’t let this journey end in unfairness – explore whether pre-settlement funding could be one of the best decisions you make during your lawsuit process!
What Is Pre-settlement Lawsuit Funding?
When it comes to pre-settlement funding, plaintiffs have the opportunity to receive immediate cash to pay essential bills and expenses while their legal representative works on their case. In exchange for access to these funds, the plaintiff agrees to offer a portion of any final settlement they may receive.
A plaintiff is an individual who takes someone else to court, and legal financing can only be obtained with the assistance of a specialist who evaluates the facts of the claimant’s claim with their lawyer to decide if they are qualified to receive such financing.
There are numerous lawsuits that can be presented in a court of law, including slip and fall cases, wrongful death, and sexual harassment – all of which can be validly pursued.
8 Benefits Of Pre Settlement Lawsuit Funding
Pre Settlement lawsuit funding is a perfect choice for plaintiffs because there might not be enough financial resources that they need.
It Can Be Done From The Comfort Of Your Home
It has been made possible for plaintiffs to apply for pre settlement lawsuit funding from their homes. The application process is fast, easy, and can be done without help.
During this application, there is no need for plaintiffs to provide their financial information of any sort. The only information that is needed from them is about their lawsuit.
Pre-settlement lawsuit funds put plaintiffs at ease because everything important gets covered and they get a cash advance settlement
It Is Prompt
Accepting pre-settlement funding is immediate. It is possible to get your funding within a day or two. Getting personal loans at banks is sure to take a prolonged amount of time.
This process is long because you have to undergo credit checks at the bank, and they meddle with your finances and bills. While trying to settle your bills, there is little or no stress from pre-settlement lawsuit funding.
It Doesn’t Require Extravagant Spending
In obtaining pre-settlement lawsuit funding, there is no need for payments against the loan until you settle. If by any chance the plaintiff’s lawsuit goes wrong in reaching a favourable settlement, the plaintiff doesn’t have to repay the loan.
They Help you Keep Your Assets Intact
A lot of lawsuit cases are from accidents that caused serious injuries that make plaintiffs unable to work for a long time. They are at risk of losing their homes and other valuable resources because they are unable to pay up bills. Plaintiffs are sure of having their assets intact with pre-settlement lawsuit funding.
It Gives Room For Account Privacy
When applying for pre-settlement lawsuit funding nobody checks your account or does a credit check on you. The only requirement is that as a plaintiff, you have to have an eligible case that is likely to result in a favourable settlement.
When you acquire advance settlement loans as a plaintiff, the loan is repaid using settlement funds. It is only when a settlement is made that it is decided if or not you will be granted a loan.
Settlement loans grant you cash advances against an anticipated legal settlement.
It Eases The Financial Burden
The funding helps plaintiffs manage their legal fees and bills while they wait for the proceedings from the court, which takes a long time. Advance lawsuit funding helps them with their credit cards, car payments and business expenses.
It Serves As A Means Of Income
It is made available for plaintiffs who are unable to work and get money because of the severity of their injury. Once the case has been settled, the plaintiff gets full payment from the defendants and their company and you are not obligated to pay back these loans if by chance your settlement didn’t work out.
Low Risk And Guaranteed Qualification
The risk involved in taking a pre-settlement loan is lower than the risk of waiting and taking a bank loan. Almost every personal injury case qualifies for this fund. So there is no need for you to be sceptical about whether you will be granted the loan or not, you might get lucky.
Usually, the funds are released through a wire transfer within a few days. When you have applied for the funding, it is left for the company to give it to you based on if you feel that the chances of your case being settled are high or not.
Factors Legal Funding Companies Consider When Giving Funds
- – Identify who the liable party is and the extent of the harm they caused
- – Understand the magnitude of your injury and its associated costs
- – Take note if you are unable to work for long periods of time due to your injuries
- – Assess the value of available insurance coverage
- – Verify any criminal or police background records pertaining to the case
- – Cross-check with your lawyer for further information that may be required.
Pre-settlement lawsuit funding can be a lifesaver for those in need. Not only does it provide an immediate influx of much-needed cash, but it also takes the stress out of waiting for settlement funds.
Plus, as an alternative to borrowing from family or friends, pre-settlement funding can help preserve relationships. It also helps plaintiffs obtain better legal representation and makes sure they aren’t taken advantage of during settlement negotiations.
With lower interest rates than traditional lenders, and no risk of debt if the case is lost, the benefits of pre-settlement lawsuit funding are clear. So, consider exploring this option if you need immediate cash and want to maintain financial security.
How Many Percent Am I Likely To Get From Funding Companies As A Loan While My Case Still Isn’t Settled?
It is totally dependent on the company. Some companies grant up to 15% some give 20%, all this is given based on how likely you are to get a settlement for your case.
2.Do I Have To Go To The Company Physically To Get The Money?
No, absolutely not, you can get it however you wish. It could be wired to you at the comfort of your home.