Settlement Loans – Financial Relief for Plaintiffs Awaiting a Lawsuit Settlement

Waiting for a personal injury lawsuit to settle can be unsettling, to say the least.  Sometimes these types of cases take months, even years to reach completion.  In the meantime, plaintiffs often have a tough time trying to make ends meet, which is where settlement loans come into play.  Simply a cash advance against the money you expect to win, litigation financing can help you pay the regular household bills, medical costs and other expenses while waiting to receive your settlement.

Often times, those who are seriously injured in an accident caused by someone else’s negligence are unable to work.  This only adds to the financial dilemma, and makes paying the bills even harder.  Taking time away from work to attend court affects your income.  While you are the victim, it seems that everything is working against you.  Settlement loans help ease the financial situation, so that you can keep the creditors at bay and pay your bills while waiting for your lawsuit to settle.

Litigation financing isn’t the right solutions for every situation, but it may be for yours.  Qualifying is easy, as long as you have a strong case that wouldn’t be considered frivolous.  In fact, with settlement loans the only information required to determine if you qualify is information related to the accident or circumstances that caused your injuries, and the extent/seriousness of those injuries.  Your lawyer will help fill out the necessary paperwork, but you will not be asked about employment status, credit rating, or criminal background information.

If approved, how much money can you expect to get?  Most companies which offer settlement loans advance those who qualify about 10% of their expected settlement.  So, if your attorney has valued your claim at $250,000 and expects to get that amount, you will likely be advanced approximately $25,000.  This money is a welcome relief for those who need to pay household bills, medical and doctor bills, to buy groceries, etc.

There are no up-front costs or out-of-pocket expenses to worry about with settlement loans.  You will simply pay any interest and/or fees that apply at the time you repay the loan, which will be when your case is won and you have control of your money.  The process is no-recourse, which means that in the event your case is lost, you owe nothing to the litigation financing company.

Learn more about settlement loans online, or discuss the pros and cons with your attorney today.  If your case is one that is strong and legitimate, you do not have to suffer financially while waiting for it to settle!

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