In the U.S. 32,000 people die and 2 million are injured each year from motor vehicle crashes.
If you have been seriously injured in a motor vehicle accident, you are likely struggling to pay your usual expenses, let alone your hospital and medical bills.
Your attorney is confident you have a case and you are taking it to trial. In the meantime, how are you supposed to pay your bills?
Your injury is limiting your ability to work and the bills keeping adding up.
You considered taking out a second mortgage or draining your personal savings, but that doesn’t seem right, after all, the insurance company owes you.
Fortunately, there is an option to help you get through the short term without the risk of future financial ruin.
Keep reading for more information about lawsuit cash advances and how they can help while you wait for your case to settle.
What is a Lawsuit Cash Advance?
When you are severely injured in a car accident, your world is turned upside down.
You will suddenly be faced with mounting medical bills and expenses and probably unable to work while you are in the hospital and recovering from your injuries.
Lawsuit cash advances allow you to pay for your hospital and medical bills, living expenses, utilities, and more during this difficult time.
It can take months or even years to negotiate a fair settlement and this cash advance will allow you to continue to function while you wait.
Lawsuit cash advances are a type of loan called a non-recourse loan.
This is a unique type of loan in that you don’t have to pay your lender back if you lose your case or don’t receive a settlement check after your case settles.
There are generally only two requirements to qualify for a cash advance on lawsuits. You must have a pending lawsuit against a person or company for their negligence and you must be represented by an attorney.
What Are the Benefits?
There are many benefits to a lawsuit cash advance.
It is hard to think of a reason not to apply for lawsuit cash advance funding if you were seriously injured as a result of another’s negligence.
Keep reading for some of the top benefits of applying for a cash advance on lawsuits.
Funding is Approved Quickly
Funding is easy and if you qualify for a lawsuit cash advance funding is usually received within 24-48 hours.
No Payments Until/Unless You Get Paid
Unlike other types of loans, lawsuit cash advance loans do not require you to make any payments until you receive a settlement check.
You can use the money to pay your other bills without having to worry about making payments on the loan while waiting for your case to settle.
As discussed above, because these loans are non-recourse if you do not receive a settlement check you are not required to pay back the loan.
No Income Verification Required
Most, if not all other loans require proof of income in order to qualify for the loan.
Because lawsuit cash advances are based on the anticipated receipt of a cash settlement, income verification is not required.
Most plaintiffs who take their case to court are seriously injured and unable to work and keep a steady income. Their debt to income ratio is likely higher because of their hospital and medical bills.
No Credit Check
You do not need good credit to qualify for a lawsuit cash advance.
In fact, you don’t need any credit at all. Good, bad, and no credit applicants can all apply and qualify for a lawsuit cash advance.
We will not check your credit score and will not ding your credit with an inquiry. Since lawsuit cash advances are based on the projected settlement amount, credit is not relevant.
Creditors will not verify your assets or require hard collateral either.
Your collateral is the strength of your case and the expectation of a cash settlement.
Since you will not be responsible for paying back the loan if you don’t win, you won’t need to provide that you could.
Save Your Savings
Some people consider cashing out their 401k or taking out a second mortgage to pay for their expenses while their case goes to trial.
This can cost thousands in taxes and risk your home’s equity. While this may seem reasonable at the time, this will result in numerous consequences down the line.
Lawsuit cash advances save you from having to use your own personal savings and assets to survive in the short term while you wait for your settlement.
Only Borrow What Should
One of the biggest benefits of a lawsuit cash advance for the consumer is that you are prevented from borrowing more than you can afford.
You will not be allowed to borrow more than you are expected to receive in your settlement.
With a traditional loan, you will be responsible for paying it back if you do not win your case and may end up in further debt.
With a lawsuit cash advance, you do not carry that risk as you do not have to pay back what you don’t win.
You Can Wait for the Best Settlement Possible
When you go into negotiations on your claim you and your attorney will come up with two amounts.
The first will be the amount you hope to get. The second amount is the lowest amount you are willing to accept.
With a lawsuit cash advance funding, you do not have to rush through negotiations. With cash advance on lawsuits, you can be patient during negotiations and demonstrate your conviction to the insurance company.
When the insurance company sees you are not willing to settle for just any amount you are more likely to get a higher settlement.
Getting a cash advance on your lawsuit allows you to take care of the things you need to pay before negotiations so you have time to get the best settlement possible.
Call Us Today
If you have a personal injury lawsuit and are represented by an attorney, you likely qualify for a lawsuit cash advance.
Don’t suffer quietly while you wait for the money the insurance company owes you.
Visit our website and contact us today for more information on the services we offer and to see if you qualify for a lawsuit cash advance.