How to Find the Best Pre Settlement Loan Companies

best pre settlement loan companies

Every year, Americans file more than 16 million lawsuits.

If you’ve filed a lawsuit recently, you know that it can take a while before you actually get the money you’re owed, even if you win your case.Let’s talk aboit the best pre settlement loan companies.

Do you need money to tide you over until you receive your settlement? If so, then a pre-settlement loan, also known as a lawsuit loan, could be a good option.

Before you apply for a pre-settlement loan, it’s important to make sure you’re working with a credible lender.

Listed below are some tips that will help you find the best pre-settlement loan companies for your needs.

Why Apply for a Pre-Settlement Loan?

There are many benefits that come with applying for a pre-settlement loan. Some of the greatest benefits include:

Get Money to Tide You Over

The main reason people apply for pre-settlement loans is that they need money to carry them through and help them meet financial obligations.

Lawsuits are expensive, and the bills don’t stop coming just because you’re in the middle of one. You need to keep the lights on, and you still need to be able to buy groceries and put gas in the car.

A pre-settlement loan can be a godsend to folks who are struggling to make ends meet. This is especially true of people who are in the middle of a personal injury lawsuit and might not be able to work.

Make Time for Negotiation

When your financial needs are met, you have more bandwidth to focus on other things. That includes winning your case.

Once you’ve received your pre-settlement loan and can relax a bit about financial matters, you might be able to spend more time working with your lawyer to negotiate a fair settlement.

You won’t be forced to take a less-than-ideal settlement offer just because you’re desperate for cash.

Only Repay if You Win (Non Recourse Loans)

In many cases, you only have to pay back your pre-settlement loan if you win your case. This is known as non-recourse funding, and it makes taking out a pre-settlement loan a virtually risk-free option.

Finding the Best Pre-Settlement Loan Companies

Clearly, there are lots of reasons to take out a pre-settlement loan. If you want to experience these benefits, though, you’ll need to make sure you’re working with the right pre-settlement loan company.

Here are some tips that will help you make the best decision for yourself and your financial needs:

Read Loan Terms Carefully

Before you agree to work with any pre-settlement lender, be sure to read the terms of their loan agreement carefully. Read the contract from top to bottom before you sign anything. If anything seems amiss, address if before you sign or talk it over with your lawyer.

Look for a Fast Application Process

Look for a lender who can turn your application around quickly. Ideally, they’ll let you know if you’ve been approved within 24 hours. If a lender makes you jump through a ton of hoops before giving you the funding you need, they might be a shady operation.

Look for Low Rates

As with any type of loan, the lower the interest rate, the better. Nobody wants to have to pay more than is absolutely necessary when they’re repaying their loan.

Most pre-settlement lenders charge interest rates around 3.5 percent. If the lender you’re considering is asking more than this, that can be a red flag.

Be sure to ask about the fixed monthly interest rate before you sign any agreements.

Consider Interest Types

Be sure to ask about the interest type, too.

Some lenders use simple interest (it’s based on the principle of the loan). Others use compound interest (you’re charged on the amount of interest that builds up over time).

Both are viable options, but it’s good to find out what type of interest you’ll be charged before you agree to anything.

Broker vs. Direct Settlement

It’s best to get your pre-settlement loan from a direct settlement lender. Sometimes, people apply for pre-settlement loans through a broker, who then puts them in contact with a lender. This can draw out the application process and cause you to have to wait longer to get the money you need.

Ask About Non-Recourse Funding

If non-recourse funding is important to you, be sure to ask about it when you reach out to a particular lender. They’ll be able to let you know right away if they offer it.

Read Reviews of All the Best Pre Settlement Loan Companies

Read online reviews for a lender before you decide whether or not you want to work with them. Check to see if the lender has testimonials available on their site, but look at third-party review sites as well.

Steer clear of lenders that have lots of negative reviews (or no reviews at all) online. You should also avoid lenders who have complaints against them from the Better Business Bureau.

Make Sure They Fund Your State

Finally, make sure that the lender you’re considering is legally allowed to offer pre-settlement funding in your state.

Every state has different pre-settlement lending laws. Steer clear of lenders that aren’t in compliance with your state’s laws — that’s a major red flag.

Getting Approved

In order to get approved for a pre-settlement loan, you’ll need to meet some basic requirements, including the following:

  • Be involved in a valid lawsuit
  • Have a lawyer working on your behalf
  • Have approval from your lawyer for pre-settlement funding

As long as you meet these minimum requirements, there’s a good chance that your application will be approved.

Get a Pre-Settlement Loan Today

Now that you know more about pre-settlement loans and what you can do to find the best pre-settlement loan companies, it’s time to begin your search.

There are lots of pre settlement loan companies out there, but they’re definitely not all created equal.



If you’re looking for a reputable pre-settlement loan company that will get you the money you need within 24 hours of your application being accepted, we’re here for you at Lawsuit Cash 911.

Contact us today to fill out our online pre-settlement loan application. We’ll get back to you right away and let you know whether you’ve been approved!

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