Pending Case Pre Settlement Lawsuit Loans?
Most people hate the idea of taking out a loan, but sometimes the extra cash is necessary. How Can a Pre Settlement Lawsuit Loan help?
Are you someone who is anxiously awaiting a settlement, but needs the money now? After all, it can take months or even years to get awarded the money you deserve.
If this sounds like you, a settlement advance may be exactly what you need.
Keep reading to find out more about what this means, how it works, and how it may be able to help you in the long run.
What is a Settlement Advance?
Also called a lawsuit loan or pre-settlement funding:, a settlement advance is a way to get cash now against a future settlement or award. It is typically taken by a person that is in the middle of a lawsuit that will potentially award them money, but they need some cash now to financially sustain themselves during the course of the litigation.
This type of cash advance is great for people that need extra security in their lives during a difficult time. You get to have some extra funds, but you also know that you will be able to repay it later after you win your case and receive your award or settlement offering.
Critics of settlement advances say that they are not financially responsible and expensive, but as long as you know what you are getting yourself into, you can certainly find a good deal ant the money may allow you yo hold out for a larger settlement.
Choosing a lender that is going to help you through your time of need and won’t charge you insane interest rates is important. In most cases the well known companies tend to be competitive. In addition, make sure that you thoroughly look at your contract and understand all terms before signing anything.
A Lawsuit Cash Advance or Lawsuit Loan may be approved for people involved in a lot of different types of lawsuits, but typically it is used by plaintiffs that are in personal injury lawsuits. It helps to cover medical bills or lost wages that may be a direct result of the injury. No matter what kind of case you have, it pays to apply.
Another thing to remember is that not all lawsuits will qualify for a lawsuit loan. The lending company will only get paid if the plaintiff wins the case and a settlement, so it is essential to consider this this when you are trying to decide if it is the right choice for you.It is also important to make sure you have a good law firm working for you.
How Does It Work?
When a plaintiff decides to file a lawsuit, they can also apply for a loan with a reputable lending company. One the company treviews your case and evaluates how much your settlement may be, they can offer you a contract that asks you to agree to pay back the lawsuit advance with with their funding fee..
There are no payments necessary while the lawsuit is still pending. The money you received is only paid back at the time of settlement if you win or settle your case. If you lose your case, you owe nothing.
If you think of it as you are paying for things that you need now with money you don’t have yet, you get the gist of the idea. The only difference is that you pay a little extra for the convenience.
The Benefits Behind a Cash Advance Settlement
In a lot of situations, lawsuits can be really expensive. If you are also trying to recover from an injury or are losing money in other areas of your life, it can be really difficult to keep up. Settlement advance loans can help you stay on your feet when you’re already dealing with so much.
If you are thinking the settlement is going to give you income you need or pay for bills that need to be covered, you will have more time available with the help of a lawsuit loan. No one wants to prolong the litigation when they are the plaintiff, but it can take a while to reach a fair conclusion.
Having more time to negotiate with the opposition can be helpful for you and your attorney, depending on your case. A lawsuit loan can help tide you over as you wait for the real settlement money to come in later, especially if you are not getting a fair offer just yet.
When you are suffering from lost wages and the inability to work, it can be hard to stay on top of mortgage bills, medical bills, car payments, and other obligations you have in your life. A settlement advance can be the solution that helps you maintain some sense of normalcy in your life while litigations are proceeding.
The biggest benefit to having this type of security in your life is that you will have the money you need in a desperate time that you need it. You can pay off bills, which can be expensive if they are for medical care or personal injury, and still have money to stay afloat if you are unable to work.
Do You Need a Lawsuit Loan?
If you are interested in taking out a lawsuit loan, be sure that you are doing some research and know what to look for. You want to be informed about your options and which options are the best for your financial situation.
A settlement advance is different from a loan in that if you don’t win the case, the money you received is for free. You owe absolutely nothing.. Different lenders have different rules, but knowing that you have the dependability of an option that allows you money when you need it can be helpful.
If you live in one of the 33 states that we serve, feel free to reach out and see if we can get you a cash advance on your settlement today. We would love to help you! Lawsuit Loans in 24Hrs. Auto Accident Loan? Defective Product?