Settlement Loans – Their Purpose and Benefits

How Settlement Loans Can Benefit You:

Settlement loans can be very helpful when you are involved in a long drawn out lawsuit, especially one that is medical in nature. These lawsuits are often very expensive, and there are expenses incurred during the time of the lawsuit such as medical bills that must be paid before a settlement can be reached. This makes settlement loans very helpful and sometimes necessary when it seems impossible to live normally while seeking justice.

The Purpose Of Settlement Loans:

If you are in need of assistance in paying for these expenses while waiting for your settlement, you should definitely look into litigation financing. Obtaining a loan through Addison Pre-Settlement Funding is an easy process, and one that requires very little on your part unlike conventional loans.  There are no background or employment checks to worry about; the details that must be submitted by your attorney pertain only to your lawsuit and nothing else.

One advantage of settlement loans is that most are non-recourse.  This means that should you lose your lawsuit, you are not responsible for repaying the litigation funding company.  If you do win, you only repay the money at the time you have your money in hand, so there are no monthly payments or other obligations to make your financial matters worse.

When the settlement loan in approved, the money may be released to you, your attorney or a third party. If the money is released to your attorney or a third party, medical expenses and other costs relating to the case must be submitted to the person in charge of the funds for payment or reimbursement. If the money is released to you, you will be able to pay these expenses yourself. Litigation financing allows you to pay medical bills, attorney fees, household expenses and other costs so that you can avoid financial stress while waiting for your lawsuit to settle.

There are no out-of-pocket expenses with settlement loans; your lawyer simply applies on your behalf, and you are either approved or disapproved.  If you do qualify, you can have access to the funds you need within a day or two, so you see how fast the process is.  This allows you to keep the wolves off of the door, pay your bills and experience peace instead of financial stress while waiting for your lawsuit to settle.  Learn more about the process online or consult with your attorney right away.

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