Settlement Loans – What Litigation Funding is and How It Works

Although the term implies it is a loan, settlement loans are actually cash advances given to injured victims who are awaiting settlement and qualify.  Another term for the process, litigation funding, is just what it sounds like – funding for your lawsuit, so that you can live as you normally would and pay your bills while waiting for your case to reach completion.

As an injured victim, you may already realize the financial impact your injuries are having on your live, especially if you cannot work.  Between the medical expenses, lost income, paying the normal monthly bills and buying groceries, you may be going broke.  Personal injury lawsuits commonly take months or even longer to settle; in the meantime, how can you avoid bankruptcy and meet your financial obligations?  Settlement loans are the ideal solution for many who find themselves in this situation.

Settlement loans are easy to qualify for, as long as you have a solid claim.  The litigation funding company will never ask you for information regarding your credit score, past or current employment or other personal data.  All they are interested in are the circumstances surrounding the accident that caused your injuries, and how serious your injuries are.  When the funding company feels strongly that your case will win and knows your attorney supports your claim, you’re likely to qualify for a loan. Learn more about Pre-settlement funding here.

The loan is basically an advance against the money you expect to win in a lawsuit, or through settlement with the defendant’s insurance company.  In most cases, you can expect to receive about 10% of your settlement in advance if you are approved.  While this may not sound like a great deal, several thousand dollars can go a long way toward paying the bills and keeping your head above water.

If you do qualify, you will get your money very quickly.  In most cases, those who are approved for settlement loans get their money within 24 hours, and the process is quick and easy.  You and your attorney will sign off on the application which only asks about the information mentioned above regarding your accident and injuries.  In addition, you only repay the loan when you actually receive your settlement or jury award, so there are no out-of-pocket expenses to add to your financial worries.  If you do not win, you do not repay the funding company – it’s that simple.

You can find out more about settlement loans online, or have your lawyer briefly explain how it works.  Pay your bills, live comfortably and put the stress of worrying about how you can meet your financial obligations aside with litigation funding.

Pre-Settlement Funding – Immediate Cash for Personal Injury Victims

Frequently, victims injured because of negligence settle quickly with the insurance company due to immediate financial issues.  Pre-settlement funding helps you avoid this, as you have the funds to pay your bills and allow your attorney the time to fight for the full compensation you deserve in a personal injury lawsuit.  Essentially, litigation funding is a cash advance against a pending settlement which is given to applicants who qualify.  It is your money, why not have access to it now?

As long as you have a strong case it’s likely you will qualify for a Mayfield pre-settlement funding account.  You may have been injured in a car or motorcycle accident, because of a dog bite or medical negligence, even due to a defective product or slip and fall accident.  Any type of personal injury (injury caused by the negligence of another party) is grounds for litigation financing, as long as your case isn’t frivolous.  Unlike other types of loans, qualifying is a quick and simple process that requires only information related to the accident that left you injured, and your injuries.  Credit standing, employment status and other background information is a non-issue with pre-settlement funding.

Medical costs today continue to soar; you may be unable to continue working for the short- or long-term due to your injuries.  It isn’t long before you have trouble meeting your financial obligations, including medical bills and normal household expenses.  Pre-settlement funding allows those who qualify to get the money you need immediately, usually within 24 hours.  In addition, you only repay the advance if you do in fact win your lawsuit, along with minimal fees and interest.

How do you repay the advance?  There are no monthly payments to worry about.  You will repay the litigation funding company at the time you receive your settlement, so there are no out-of-pocket expenses to make your financial situation even worse than it is.  If for any reason you do not win your lawsuit and are not awarded a settlement, you owe absolutely nothing.  It’s a no risk way to get the money you desperately need, now.

Pre-settlement funding gives you the money to pay your medical and household bills, and the financial resources to help your lawyer build a strong case on your behalf.  Personal injury cases often take months to settle, or even longer.  Through litigation funding, you can pay your bills and live without financial stress while your lawyer fights for the full compensation you are entitled to from those who caused your injuries.

Don’t live under pressure from your creditors or fear of bankruptcy, and don’t settle with the insurance company for a low-ball offer.  Ask your attorney about the advantages of pre-settlement funding, and whether it may be a good option for you.