Also commonly known as litigation funding, those who are facing a long, drawn-out lawsuit (personal injury lawsuits often take months to settle) often find themselves in deep water financially.  Because of injuries, you may be facing extensive medical costs and reduced income because of your inability to work.  It often becomes necessary to file a lawsuit against the negligent party when the insurance company offers an unacceptable settlement.  In the meantime, you need money to get by.  This is where lawsuit loans come in.

Who qualifies?  While you will not qualify if your lawsuit is of a frivolous nature, most people with a solid case will be accepted.  With lawsuit loans there is no up-front cost or out-of-pocket expense to worry about.  The litigation funding company will review the information submitted by your attorney.  This information pertains only to your personal injury claim; no questions will be asked about credit standing, previous or current employment, background, etc.

One huge benefit of lawsuit loans is that the applicant will receive his or her money quickly if approved, usually within 24 hours.  Another benefit is the fact that these types of loan are “no risk,” as you do not repay the settlement funding company if you do not win your lawsuit.  You will only repay the loan if you do win, at the time you actually receive your settlement.  In addition, if you receive your money in structured settlement payments, you can repay the funding company with those payments, along with a small fee and interest.

How much may you be advanced with lawsuit loans?  Generally speaking, most litigation funding companies loan approximately 10% of the expected settlement.  Basically, if you are expected to be awarded $75,000 in your settlement, you may be advanced $7,500 if approved.  While this is not a process that is for every individual, it may be the best solution for you.  Talk with your attorney about the benefits today – it may be just what you need to live comfortably while awaiting your settlement.

They work like this: If you’ve got a legitimate personal injury lawsuit pending and it’s likely to come out in your favor either in the form of a settlement or jury award, a settlement loans‘ company wants your application. You fill out this application with the consent and full participation of your lawyer (who must have been hired on contingency), and turn it in. As long as you qualify, settlement loans typically allow you to get an advance of about 10% of  what’s expected to be your full award or settlement.

No need to pay these loans back

Here’s the good news, though: Unlike most loans, you don’t have to pay back settlement loans unless you win your case. If you win, the litigation funding company that specializes in advancing you these loans will take its money back, plus interest and fees. If you lose, though, you don’t own the company anything. That’s right; you don’t have to pay any money back, unlike you would have to do if you took out a traditional loan to get you through a financially difficult time.

Easy to qualify for

While most lending companies expect you to pony up some collateral and let them have a careful look at your credit history in exchange for offering you a loan (if you even qualify), the companies that specialize in settlement loan litigation financing don’t care about any of that. They just want you to have a legitimate personal injury lawsuit pending (no frivolous lawsuits welcome), they must have your lawyer’s consent as well as yours to proceed with the loan, and your lawyer must have been hired on contingency, meaning that he or she doesn’t get paid unless you win, either.

That’s it. As long as you can meet those qualifications, settlement loans are a viable option for your situation. And remember, there are no risks to you because you don’t have to pay the money back if you do not win your case.

Not really; although it’s certainly true that you have to wait for your case to wend its way through the courts or to settlement before you receive permanent monetary compensation, there is a way for you to access some of those funds temporarily while your case is still being decided.

This type of litigation financing is called a lawsuit loan or settlement funding. Lawsuit loans are somewhat different than other kinds of loans. You are lent the money just as with any kind of loan, to be sure, but your qualifications as a potential recipient are different. You don’t have to undergo a credit check, and you don’t have to put up collateral.

Instead, you have to be the victim in a personal injury lawsuit case that is likely to either settle or go to court and result in a jury award. You must also have hired your attorney on contingency, meaning that your attorney doesn’t get paid unless you win your case. Finally, your attorney must agree that it’s okay to take out a lawsuit loan as well, in that he or she will have to sign off on your application for lawsuit loans.

As long as you can meet these qualifications, though, you can get some of your projected settlement or jury award money ahead of time, so that you can pay for financial needs while you wait for your case to finalize in the court system. Find a company that specializes in lawsuit loans, and apply through them. Once you’re approved, you’ll receive a portion of your projected settlement or jury award, usually about 10%.

If you win

If you win your lawsuit, the company who lent you lawsuit loans’ money will ask for it back, plus interest and fees. However, if you lose, you won’t owe the company anything. Instead, you walk away and the settlement funding company simply absorbs the loss. This is a no risk way for you to have the money you need while you wait for a final decision on your case. You don’t have to suffer financially, and don’t have to wait for that “far-off” day in the future when you’ll finally have the money you need from your settlement or jury award. You can have part of it now, and you can get it at absolutely no risk to you.

Lawsuit loans are not actually ‘loans’ at all, but a cash advance given against your expected settlement if you qualify.  Unlike conventional loans, there is no mountain of paperwork required, no collateral to worry about, and no monthly payments.  You simply repay the settlement funding company once you receive your settlement, so there are no up-front costs to further impact your financial situation.  Your attorney will be required to submit the necessary information, which pertains only to your lawsuit – no background or credit checks, etc.

Before granting lawsuit loans, funding companies carefully review the details of your lawsuit so that they are relatively certain you will win.  Additionally, frivolous lawsuits are not considered for litigation funding.  Once your attorney submits the information to the funding company, they will quickly review it – usually within 24 hours.  If you do qualify, you can have the money you need for medical expenses, household bills, groceries, attorney fees and other costs immediately.

How and when do you repay the money?  With lawsuit loans, you only repay the funding company once you have your money in hand.  This way, you are never forced to spend money that you do not have, or make payments that will put you even further into debt.  If you choose to receive your settlement in structured payments, you can use those payments to repay the loan.  Another fact you will be interested to know is that in the event you do not win, you owe nothing to the funding company.

The longer a personal injury lawsuit goes on, the more difficult your financial situation becomes, particularly if you cannot work because of your injuries.  Lawsuit loans help you live comfortably while waiting on your settlement, which means you can put your energy and focus into winning your case.  If your attorney works on a contingency basis and agrees that a loan may be the ideal solution for your situation, you can have access to your money quickly.

Companies that offer lawsuit loans make their money by charging a fee for this service; however, you will find that the money you keep even after the fees is substantially more than you would have gotten had you settled with what the insurance company offered.  If settlement funding sounds like a viable option for you, talk to your lawyer today.

Litigation financing is a process in which your attorney submits the details regarding your lawsuit to the funding company, who then reviews it to ensure you have a strong case.  Most frivolous lawsuits are not accepted, but when you have been injured in a car accident that was the fault of someone else, settlement loans are typically approved.  The funding company will review the application usually the same day it is submitted by your attorney; if approved you can expect an advance against your pending settlement with 24 hours.

Unlike other types of loans, settlement loans are non-recourse, meaning that in the event you do not win your lawsuit you owe nothing to the funding company.  You pay nothing upfront, and there are no credit checks, employment verification or risks to you.  The amount you qualify for will depend upon your expected settlement amount.  Typically, litigation funding companies lend approximately 10% of the amount you expect to be compensated, so if your settlement is worth $75,000 you may expect an advance in the area of $7,500.

How do you repay the money?  This is another aspect of settlement loans that most people find advantageous.  There are no monthly payments to make; you simply repay the litigation funding company once you have received your settlement.  This way you are never forced to pay even more out of your bank account, which is the reason you needed a loan to start with.  The money you receive may be used for medical expenses, attorney fees, household bills, groceries and other costs.

You’ve been injured because of the negligence of another party, and now you may be unable to work and facing huge medical bills.  The insurance company will do their best to under compensate you, but your attorney is fighting to get you every dime you deserve.  In the meantime, settlement loans help you pay the bills and avoid the financial anxiety that often comes with personal injury lawsuits.  Discuss the pros and cons of litigation financing with your lawyer today.

Not actually a loan, this is a process in which you can get a portion of the money you are expecting to win in your settlement if you qualify.  It is your money, and when you are facing financial problems litigation financing companies help you gain access to it quicker.  Personal injury lawsuits can often take months or even longer to settle; in the meantime, it is getting harder and harder to pay your household bills and medical expenses.

Here’s how it works:  Litigation funding companies require that your attorney submit the necessary documentation regarding your lawsuit.  You do not have to worry about credit checks, background checks, employment verification or other details, the only information required are the details surrounding your injuries.  Upon receiving the information, the settlement funding company will review it to determine if you qualify.  If you do, you will have access to a portion of your money immediately, generally by the next business day.

Another fact about lawsuit loans that you will find comforting is that should you be denied your settlement, you are not required to repay the funding company.  This process is non-recourse; you only repay the advance if you do receive your settlement.  No monthly payments are involved, you simply repay the money at the time that you receive your money, or, if you receive structured settlement payments, you can repay the funding company using those payments.

There are no upfront costs or out-of-pocket expenses, so you are never required to pay money that you do not have in order to get the money you so badly need.  Money worries can add significantly to your stress, which is that last thing you want when you are injured and waiting for a settlement.  Consult with your attorney today to learn if litigation financing may be the appropriate route to take in your situation.

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.

If you have a pending lawsuit, you may be considering something called settlement loans. This is when, if you are approved, you receive a small advance on what the actual settlement is that you are looking for in the lawsuit. This amount is usually below 10% of the whole settlement. Unlike traditional loans, you do not need a credit check or a certain income to qualify for this type of loan. However, since you do not have to pay the settlement loan back if you do not win your case, you will need a strong case to begin with. Most small and frivolous cases will not be approved.

Why Settlement Loans May Be a Good Idea for You

Especially if you were injured and can’t return to work for a period of time or indefinitely, you would want to look into litigation funding to help you pay for your daily expenses while the lawsuit is pending, such as your housing and other monthly expenses. Settlement funding can help you to get through the rough patches while you are waiting for the settlement of your lawsuit. It can also help to pay for attorney fees, and you will see that there are no actual interest rates because these types of loans are not traditional loans. Besides this not being dependent on your credit rating, you are also free to spend the money however you see fit.

What to Watch For

When considering settlement loans you will want to remember that although they can be a big help during this time, you must proceed with care, as with any other type of loan. Although you can spend the money any way you want, you may need to pay a percentage to your attorney if you already have a standing agreement with them, and you should consult with your attorney before spending any of the money.

What You Should Know

If you should win your case, there will usually be a written agreement between the loan provider and your attorney on how you will be repaying the loan. With settlement loans, most providers do not charge you any upfront costs, but you again need to confer with your attorney regarding your particular case and any agreements made with them. Those in need of help paying medical expenses, repair costs, regular household bills and other obligations should seriously consider litigation financing as one possible solution.

When you hear the term “lawsuit loans” you probably imagine getting a loan, then making monthly payments which you know you cannot afford.  Though the term does sound like a loan, this is actually a cash advance against your pending settlement, which is to be repaid only at the time that you win your lawsuit and have money in hand.  Should things not go your way and you do not win your lawsuit, you owe nothing as settlement funding is non-recourse.

You are the one who has been injured because of someone else’s negligence, so why should you be the one to suffer financially?  Insurance companies will under compensate you; although you feel like they are on your side, they are in business to make a profit.  Lawsuit loans offer you the money you need to pay regular household expenses, medical costs, attorney fees and more.  When you aren’t stressed out about how you are going to pay the bills, you can concentrate on winning your lawsuit.

How does settlement funding work?  There is a form that must be filled out by your attorney, then faxed to the funding company.  This application is related only to your lawsuit, no questions asked about credit, employment history or any other background information.  Lawsuit loans are based only on the details of your case, nothing else.  Once approved, you will generally have the money you need in 24 hours.

With lawsuit loans there are no out-of-pocket expenses to add further to your financial burden.  While the litigation funding company will charge a fee for the process of getting your money upfront, the cost is well worth it considering how little you would get were you to settle with the insurance company.

Personal injury lawsuits are known for lasting months or even years.  Will your money hold up until you can reach victory?  If you’re facing a financial dilemma, don’t give up and let the insurance company win.  Lawsuit loans are one option you should consider.  Find out more online today so that you can determine if settlement funding is a viable solution to your money worries.

With settlement loans, you do not have to provide collateral like you do with traditional bank loans.  The money is given against your pending settlement if you qualify, then you repay it once you get your money.  What happens if for some reason you do not win?  With settlement funding, there is no recourse.  This means that if you do not win your lawsuit, you owe nothing.

It often seems that you have to jump through hoops in order to get a bank loan.  With all of the credit checks and other paperwork, the hassles are enough to make you want to give up.  Settlement loans are straightforward and easy to apply for; your attorney simply submits the required forms concerning your lawsuit, and that’s it.  No credit or background checks, etc.  If you do qualify, the settlement funding company will have your money available the very next day!

Plaintiffs involved in personal injury lawsuits often find themselves in financial trouble.  You may not be able to work, you have to spend time in court, and you now have the added expense of medical bills.  Settlement loans allow you to get the money you need right away, so that you can pay your bills and live comfortably while waiting for your lawsuit to settle.  Don’t worry about an additional monthly payment; settlement funding companies are only repaid when you have your settlement money in hand.

There are many reasons you may want to check in to the possibility of settlement loans when you are involved in a lawsuit.  Insurance companies will try to get you to settle for a reduced amount, but you deserve your full settlement.  Don’t let the insurance company or the person who is responsible for your injuries get away with paying you less than you deserve.  Now, qualifying is easy and you can have the money you need so that financial worries are behind you and you can focus on winning your lawsuit.

Settlement funding is one of the most common methods of getting money in an emergency situation when you are involved in a lawsuit.  Learn more online, fill out a form for more information, or talk with your attorney about the benefits of litigation financing today.