Until you are the victim of someone else’s negligence, you may not realize how long the litigation process can take. You may not be familiar with the term “lawsuit loan.” If you were injured or lost a loved one due to the negligence of someone else, every day can be a physical, emotional and financial struggle while awaiting a settlement. Meeting financial obligations, including basic necessities of life, is not easy, especially if you are out of work. To avoid settling too soon for too little, plaintiffs are turning to pre-settlement funding, often times incorrectly described as a “lawsuit loan.” Lawsuit funding is actually quite different than what we have all come to know as “loans.” Although the funding company provides money just as a bank does, when it lends money, there are significant differences between pre-settlement funding and “loans.” Here are some of them:No risks.
You are never at risk financially because the funding company only recoups the cash advance if you prevail by securing a settlement. Should you lose the case, the funding company receives nothing, not even the amount of the advance.
No upfront costs or monthly payments
to further impact your financial situation.
No credit checks.
Bad credit? No problem. Qualifying requires personal information or background data.
No employment verifications.
Unemployed? No problem. Employment history is not required.
No repayments unless there is a successful settlement.
You only repay the advance if you win your lawsuit. If you lose, you owe absolutely nothing.
No long waits for approval.
READ MORE PRE-SETTLEMENT LEGAL FUNDING LEGAL NEWS
Qualifying is easy, as long as your lawsuit has merit. The only documentation needed for review and approval is details about your lawsuit, the accident and injuries you suffered, nothing else. Once the funding company reviews the application, if approved, funds can be available within 24-48 hours.
When relief from the mounting burden of accumulating bills, medical expenses and potential eviction becomes impossible, pre-settlement funding may be your solution. Talk to your attorney about pre-settlement funding and why it may be the ideal solution for your situation.
Disclaimer: This article is a paid advertisement prepared by Lawsuit Financial Corp. and does not constitute legal or financial advice from Online Legal Media or LawyersandSettlements.com.