Are Lawsuit Loans Worth It? Settlement Funding

Pre-settlement personal injury financing/funding/loansLawsuit loans can be confusing to plaintiffs in a personal injury case who need money, as this type of funding isn’t really a loan at all, but an advance against your own anticipated settlement in a lawsuit.  In some cases, your attorney may suggest contacting a litigation funding company.  How does this work, and when it is appropriate to seek out this type of financing?

Are Lawsuit Loans Worth It?

Pre-settlement funding is appropriate  for those who sustain injuries serious enough to impact their lives in that they cannot work, are faced with reduced income due to time spent in court or for medical treatment or rehabilitation, or who have substantial costs associated with disability or medical care.  Litigation in these types of cases can take months, and in rare cases even years to settle.  In the meantime, the injured litigant must have sufficient money to live – to pay bills, medical expenses, buy groceries, etc.  For some, it simply isn’t an option to wait for the lawsuit to end in order to get money to survive.  This is when lawsuit loans can be very beneficial.

How do Lawsuit Loans Work?

Basically, your attorney will provide the funding company with information regarding your case; information about your injury, how it occurred, medical reports, etc.  This information is how funding companies determine if the case is strong enough to merit approval of an advance.  Credit score, employment status and other factors do not come into play when deciding whether you’re eligible.

How Much Do Lawsuit Loans Cost?

If approved, you will be advanced a percentage of your expected settlement, typically about 10% with  most companies. In most cases, you will get the advance quickly, within 24 hours or even the same day.

Are There Extra Fees with Lawsuit Loans

While there are fees associated with lawsuit advances, they are not repaid until the time the advance is repaid to the funding company, once your lawsuit is over and you have won or settled your case.  Some companies charge a flat fee, while others may work on monthly fees that accrue over the months the advance is outstanding.  Either way, you only repay the advance along with fees when you actually have the money to do so.  No monthly payments, no up-front fees or other costs to pay initially.

What Happens If I Can’t Repay a Lawsuit Loan

What happens if to your surprise, you do not win your lawsuit?  With certain pre-settlement funding companies (Like Addison Pre-settlement Funding), you only repay the advance if you do win; otherwise, you pay nothing at all.  Essentially, you are at no risk financially because you only repay the funding company if you do collect compensation from the negligent person or party who caused your injuries.

How Do Lawsuit Loan Companies Approve Cases?

Lawsuit funding companies choose the cases they fund very carefully, choosing those they feel confident will win in order to minimize their own risk.  You must have an injury attorney who is representing you in your case, as this further supports the fact your lawsuit is one that’s viable and likely to win.

Lawsuit Loans With Low Interest Rates

Addison Pre-Settlement Funding offers lawsuit loans with low interest rates.  In fact some of the lowest rates in the industry, however – the rates aren’t specific because they vary based on the type of case and the risk of your case not winning. If the case risk is higher, the interest rate can rise.

You can Apply now by contacting Addison Pre-Settlement Funding.

If your injury or injuries have impacted your life in a way that affects you financially and could prevent your continuing your lawsuit to its completion, talk to your attorney today about lawsuit loans.  At Addison PSF, our goal is to help you avoid financial disaster while fighting for the full damages you deserve from those who were negligent.

Settlement Loans for Car Accident Lawsuits

In the blink of an eye, you can become an injured victim in an auto accident. One moment everything’s fine, the next someone who’s driving distracted, drunk, or speeding plows into you. Settlement loans are designed in a way that helps those who suffer serious injuries or disabilities financially, so you aren’t forced to settle for the low-ball figure the insurance company throws out in your desperation for money to pay the bills.

What is a settlement loan?

A settlement loan is a lawsuit cash advance on a pending lawsuit prior to settlement.  This allows you to get money to continue your case prior to winning.

Are Settlement Loans worth it?

Settlement loans are worth obtaining if you are in need of money to pay bills.  They allow you to continue your lawsuit without settling early for a lesser amount.

A personal injury lawsuit can take much longer than you expect to come to settlement – weeks, months, even years in some cases.

How do settlement loans help?

Meanwhile, if you’re unable to work or facing substantial medical expenses, it’s hard to pay the bills and live as you normally would. Pre-settlement funding makes it possible for you to pay medical bills, household expenses, and other costs so that you can continue on with your lawsuit in order to secure the full settlement or award you’re entitled to.

Are settlement loans actually loans?

The term “settlement loans” can be deceiving, as it’s not actually a loan at all but instead a cash advance against the award you expect to win in your lawsuit. Essentially, it’s a portion of your own money. If approved, you can get the money you need almost immediately – and you don’t repay any of the advance or associated fees until the time you receive your settlement. No monthly payments to add to your already stretched budget, no up-front fees or other costs.

What happens if you don’t win your lawsuit for a settlement loan?

What happens if you don’t win your lawsuit? It’s simple – you do not repay the advance. Pre-settlement funding is non-recourse, which means you only repay the advance to the funding company if your lawsuit settlement is complete. Otherwise, you pay nothing at all.

How do I qualify for a settlement loan?

Qualifying for funding is simple, and does not require you provide information regarding your employment or credit standing. Your attorney will provide the settlement funding company with the information necessary to determine whether you are eligible, including the details of your injuries, the accident or circumstance that caused them, etc. As long as your lawsuit is legitimate, there is usually no problem.

What are settlement loan interest rates?

Interest rates on settlement loans vary.  They can be as low are 5% and they can be as high as 20%.  You need to be cautious who you use for a settlement loan.

Addison PSF has very competitive rates, however – they vary depending on the risk level of your case!

Interested in learning more about loans for a lawsuit and how this type of funding has helped thousands of car accident victims avoid financial disaster, or settling for less than they deserve from insurance companies? Contact Addison PSF today, or visit our website.

How Can Litigation Financing Help

Many victims of negligent accidents don’t have the financial resources to pay medical bills, household expenses, the mortgage, and other costs when involved in an often long and drawn-out personal injury case.  Should you just settle for whatever the responsible party offers, even when it’s far less than the actual value of your case?  No.  Litigation funding helps you meet your financial obligations while your attorney fights to win the full damages you’re entitled to, even if it takes months or years.How Can Litigation Funding Help

How Much Does Litigation Financing Cost?

The cost of litigation financing varies.  This is typically based on the complexity of your litigation financing services and chances of winning.  However, shopping around is always a great idea!

Even though you were not at fault in the accident and are an innocent victim, the costs of serious injuries can be much more far-reaching than you ever imagined.  When you cannot work and medical bills keep flooding in, how can you possibly handle it all?  Lawsuit loans (another term for this type of non-recourse funding) can keep you financially afloat while you continue fighting for the justice you deserve.  Never settle for pennies on the dollar to what you actually deserve!

How does litigation financing work?

Litigation financing is a simple process, and you can have the money you need to survive during the process of your lawsuit within a day or less. The application process is simple, you need to submit some case basic information and if more info is needed – you will be notified.

Does litigation financing require good credit?

In many instances, good credit is not needed for litigation financing.  However, if your case is very high risk – personal credit could become an option to help with approval.

Typically you do not need to worry.  This type of funding is based on how solid your lawsuit is, and whether it’s likely you will win.  You will not be required to provide information about your credit, employment, or any other personal data. 

What is required is that you have an injury lawyer representing you in a personal injury lawsuit.  Why is this a requirement?  Most personal injury attorneys do not take on cases that are weak, as they work on a contingency basis – meaning they only get paid if you win.  The fact that you have a lawyer representing you is proof that your case is not frivolous, and will likely be won in court.

Will you have to repay the advance monthly, and are there any advance costs or fees?  Absolutely not.  There are no upfront costs, and you only repay the advance when your lawsuit is complete and you have recovered the full damages you deserve.  If for any reason you do not win your lawsuit, you owe absolutely nothing, as litigation financing is a non-recourse type of funding.

Is litigation financing a high risk form of financial advance?

Ultimately, litigation financing are a no-risk type of funding that help you avoid giving up and settling for far less than you deserve from those who were negligent.  If you qualify for an advance against your pending settlement, you will have the cash you need almost immediately so that you can pay all of the bills that are piling up while still fighting for the full compensation you’re entitled to.  In most cases, funding companies advance those who are eligible about 10% of their anticipated settlement.

Why give in or give up, when you don’t have to?  At AddisonPSF, we provide funding to those who don’t want to take a low-ball settlement out of desperation to meet financial obligations.  Talk with your lawyer about the process, or browse our website to learn more.  You can contact us today for a fast pre-settlement funding evaluation.

Loans for Personal Injury Cases – Good Idea?

Personal injury loans are designed for those who have been injured because of the negligence of another person or party, and who need financial help so they can pay the bills while waiting for their lawsuit to resolve.  For many people, “borrowing” money from family or friends is simply not an option. Is settlement funding something you should consider?

Are Personal Injury Loans on Lawsuits a Good Idea?

Personal injury lawsuits often continue for months or even longer before finally coming to an end.  There is much that goes on before the trial ever begins, but in the meantime, the bills still have to be paid.  Considering the medical bills and in some cases the inability to work, there may be a severe shortage of money to meet all of your financial obligations.  What now?

Are personal injury loans for lawsuits actually loans?

Personal injury loans are actually not loans, but a cash advance against the proceeds you expect to win in your lawsuit.  In essence, your settlement is the collateral; upon receiving your settlement, you repay the advance.  What happens if for some reason you do not win?  You do not repay the advance or any fees, interest, etc. as this is a non-recourse type of funding.

Are Personal Injury Loans a Worth It?

Personal injury loans are completely worth it if you are in need of money and can obtain more money from your personal injury lawsuit without settling early, only if you only take out what you need.  If you take too large of an advance – it could cost you.

What is required to get a a personal injury lawsuit loan?

What is required to qualify for an advance?  First, your lawyer must agree to provide the funding company with the details of your case.  These details include the nature of your injury, how you were injured, medical reports, etc.  What is NOT required is credit rating information, employment history, etc.  As long is your claim is strong and not frivolous and the above conditions are met, chances are you’ll qualify.  Another advantage of this type of funding is that you can get the money you need almost immediately, in most cases in 24 hours or less.

Many injury victims simply “settle” for whatever they are offered by the insurance company out of necessity, because they need to pay the bills.  With personal injury loans, you can live normally and pay the bills while your lawyer continues to fight for the full damages you deserve.  No risk, no upfront costs, no monthly payments – you simply repay the advance once you receive your settlement.  In most cases, those who are eligible will get an advance of about 10% of their expected settlement.

If you’re interested in learning more about settlement funding or want to apply online, visit Addison PSF today, or speak with your attorney about the process.