Settlement Loans Offer Injured Victims Involved in a Lawsuit Financial Peace of Mind

Settlement loans (aka pre-settlement funding) are simply an advance against a pending personal injury lawsuit settlement, more of a cash advance, if you will.  If you have been injured due to the negligence of another person, it can take months for your case to reach completion.  During this time, it often becomes difficult if not impossible to pay the household bills, medical expenses, even the mortgage – which could potentially leave you bankrupt.  Litigation funding helps prevent financial hardship, so that you can live as you normally would while waiting for your lawsuit to settle.

Essentially, settlement loans are an advance against your own money.  In most cases, the litigation financing company give those who are approved about 10% of their expected award, which often means tens of thousands of dollars depending upon how much your lawsuit is worth.  For instance, if your attorney determined that your claim is worth $300,000 and filed a lawsuit against the defendant for that amount, you may be advanced $30,000.  This money can be used to pay hospital and doctor bills, buy groceries, pay household expenses and attorney fees that will give your attorney the financial support to fight aggressively on your behalf.

How much do settlement loans cost in terms of out-of-pocket expenses?  Nothing at all.  Any interest or fees will be repaid to the litigation funding company when you repay the advance, which is only at the time you win your case and have possession of your money.  You repay the money in one lump sum, so there are no monthly payments to worry about.  If for any reason you and your attorney fail to win your lawsuit, settlement loans are non-recourse – which simply means you owe nothing at all to the funding company.

Qualifying for settlement loans is easy as well.  As long as your case is strong and not considered frivolous, you will likely be approved.  Approval takes only 24 hours or less in most cases, and the application process is easy.  Your attorney will submit the necessary information to the litigation funding company, which consists of only the details related to the accident and your resulting injuries.  It makes no difference if you are currently employed, have good credit or bad; the funding company is only interested in your case, nothing else.

It is unfortunate that so many times injured individuals end up facing financial disaster because they settled with the insurance company for far less than they deserved.  Settlement loans let you level the playing field, as you have the funds to pay the bills so that your attorney can pursue justice in court.  It’s your money, why not get a portion of it now and save yourself from potential financial disaster?

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