If you are a personal injury victim looking for a quick and easy solution to your financial woes, a pre-settlement loan is a feasible option according to DeltaLawsuitLoans.com.
As a type of advance funding, a pre-settlement loan —- sometimes called settlement advance, lawsuit cash advance, pre-settlement funding, or litigation financing —- is a cash advance for a settlement award or lawsuit judgment in progress.
Annuity.org reported that traditional banks and credit bureaus do not give this type of loan that is based on expected settlements because of the high risk of loss that they may suffer from, but a lending company will.
A pre-settlement lawsuit is provided on a non-recourse basis which means that you do not have to pay back the lending company if your case is lost.
Benefits of a Pre-Settlement Lawsuit Loan
The length of time for a lawsuit filed to settle is unpredictable. A personal injury case will take at least a year from the date of filing the complaint to get to settle. Some may take 2 to 3 years to get settled.
This period of waiting for the settlement is the main reason why a pre-settlement loan can be beneficial for you along with other advantages like:
- Cash Oasis
If you are a victim of personal injury, you will have to wait for months or even years before you receive a settlement. While you are unable to work which results in loss of income, a pre-settlement loan will be your cash oasis in your cash-dry desert.
It is an immediate solution to fill your financial needs during a difficult time. It will allow you to meet your financial obligations and provide for your family’s needs while you are recovering.
- No risk involved
When you apply for a pre-settlement loan, you risk absolutely nothing because you will not be charged a single cent. There are no upfront application fees with a lawsuit funding. The lending company will carry all the risks and you won’t owe them anything unless you win your case.
- Fast and simple application process
It is generally effortless to apply for and get the funds from a pre-settlement loan. The quick and easy steps involved in the process are:
- No credit check
- No background check
- You fill out a simple pre-settlement lawsuit loan form
- The lender will contact your attorney for basic documentation to verify the details and validity of your case
- Paperwork will be completed by the lending company
- If your application is approved, the lending company evaluates the amount of advance spending on the value of your claim
- You will receive your lawsuit funding within 24 to 48 hours
- No interest payments
Some, not all, funding companies offer a low, flat fee pricing to ensure that you keep as much of your recovery money as possible. These are the funding companies you should work with when you apply for a lawsuit loan.
- Mental composure
Financial obligations can be overwhelming after an accident when you cannot go back to work immediately.
A pre-settlement funding can offer you peace of mind by assuring you that you have enough cash to pay the mortgage, groceries, loan payments, medical bills, utilities, automotive repairs, and other basic and necessary living expenses for you and your family.
- Covers several types of personal injury cases
You can be eligible for a no-risk lawsuit cash advance if your personal injury case is any of these types:
- Motor vehicle accident
- Construction site accident
- Slip, trip, and fall accident
- Premise liability
- Dog bite
- False arrest
- Nursing home abuse
- Medical malpractice
- Elevator accident
- Legal malpractice
- Wrongful death
- Product liability
Is Pre-Settlement Funding the Right Choice For You?
A pre-settlement lawsuit loan will definitely help you stay afloat from financial woes during the lengthy process of a personal injury case. Determining whether it is right for you will depend on your situation.
Estimating the amount of funding you will need, learning about a lending company’s interest rates and other fees on a pre-settlement loan, examining all your financial options, considering how long your case will settle, and discussing your situation with your attorney will help you make a well-informed decision.
Consider a pre-settlement lawsuit loan that can free you from financial worry so that you can better recover and move on with your injury lawsuit.