Are you waiting for a lawsuit to settle? You probably are waiting for money to pay for essentials – medical bills, rent, mortgage, car payment, utilities, etc. If you are unable to work due to an injury, you may consider pre settlement funding as a way to get the cash you need today.
Pre settlement funding is an excellent option to cover your expenses now while waiting for your settlement check to arrive in the mail. Consider the advantages:
#1 Your Credit Score Does Not Matter
Pre settlement funding is not a loan, so your application does not hinge on your credit score. The only details that matter for your application approval are your lawsuit particulars. If you have a strong case and a settlement is likely, you probably are eligible for pre settlement funding.
#2 You Can Afford a Good Attorney
Many people with personal injuries do not file a lawsuit because of the expense of hiring a personal injury lawyer. Pre settlement funding lets you hire a skilled attorney who can get you as much compensation as possible. Even though a reasonable attorney will charge you a 33% or so fee, you still will usually end up with a better settlement than without an attorney.
#3 You Do Not Need to Pay Back the Advance
Remember that this is an advance, not a loan. You do not need to repay it, even if your case results in no settlement. The company receives money from your payment, not from you personally. The pre settlement funding company is assuming the risk that you may end up with nothing. This is why the interest you are charged is higher than for a loan.
#4 You Get Your Cash Fast
We all know that loans can take weeks or months to be funded. Pre settlement funding is usually much faster. In many cases, you can receive cash in your bank account in 48 hours or less once the application is approved.
#5 You Can Use the Money for Anything
Many people injured in an accident cannot work. Medical bills, mortgage bills, car payments, utility bills, and more are piling up. Once you get the cash in your account, you can use it for anything you like. Imagine the feeling of having plenty of money available to take care of your needs! Now you can focus on your physical and psychological recovery from your accident.
#6 You Can Qualify for Medical Treatments
When you are injured in an accident, one of the essential things is receiving prompt medical treatments to reach maximum medical improvement. You may need expensive physical therapy, diagnostic testing, work rehabilitation, and/or surgeries. If you do not have enough insurance to pay for your medical expenses, you could delay your medical recovery.
Pre settlement funding can be just what you need to access the best medical treatment so you can recover from your accident.
Pre settlement funding is risk-free, and the funds are offered on a non-recourse basis. The funding is simply an advance on your future settlement. If something happens and your case amounts to nothing, the company that offered you the money gets nothing. You have no risk.
Note: It is essential to consult with your attorney on any settlement the insurance company offers you. Many insurance companies will try to contact you and persuade you to take a low payment. If you have an attorney, you should direct all inquiries about your case to them.
Now that you understand more about pre settlement funding, we hope you feel less anxiety as you wait for your settlement. Now you know a way you can get the cash you need today.