People hear the words “pre-settlement funding” and either don’t know what it is, or why they would need it. If you are involved in a personal injury lawsuit, there are several reasons why you may need a litigation financing company to assist you.
Sometimes, lawsuits drag on for years. Hopefully, that won’t be the case with yours but you never know. In the best case scenario, they can drag on for months on end. If you have been seriously injured, do you have the funds to pay your household bills, medical costs and other expenses for the duration of your case? Lawsuit loans are the answer for many people, and help them avoid settling for much less than they deserve from the insurance companies.
Pre-settlement funding may be needed due to an unexpected tragedy, or for someone who is in bad health. These days, a large percentage of people cannot afford health insurance. What happens if you are involved in a lawsuit, you have cancer and need treatment, and your case goes on for a lengthy time? Can you afford your treatment along with all of your other expenses? This is why litigation financing companies are so beneficial for many people. You can get the money you need to live without waiting for your case to settle.
Of course, there are a few simple steps that must be processed first. When you and your attorney determine that a lawsuit loan may greatly benefit you and your circumstances, he will submit the documentation to the litigation financing company. They will then study the details of your case thoroughly, in order to determine if you qualify for pre-settlement funding.
If you do, your money is ready the very next day, and you only repay the advance when your lawsuit settles. In a case where you do not win, there is no recourse and you owe no money to the funding company. This helps you substantially, as there are no additional monthly payments to add to your already dire financial situation.
Pre-settlement funding is not the solution for everyone, but it is a very good option for those who need financial help while they await the outcome of a lawsuit. Litigation financing companies offer lawsuit loans knowing in advance that they may not be reimbursed if the client does not win their settlement, but that is a chance they take. If this sounds like a viable solution to your money problems, talk to your attorney at once. Help is just a phone call away!