Settlement Loans Mean Immediate Money for Personal Injury Victims

Settlement loans are one way that personal injury victims can obtain monetary relief so that bills and other financial obligations can be met while waiting for a lawsuit to settle.   If you are the plaintiff and have been injured because of negligence, you may qualify for litigation funding, which will help you live as you normally would for the weeks or months it may take for your lawsuit to reach conclusion.

What are settlement loans, really?  These loans are simply a cash advance against a pending settlement, given to individuals who qualify.  The loan is your own money; you are simply “borrowing” against it until your lawsuit is settled, so that you can pay medical bills, household expenses and other obligations.

Is it hard to qualify for funding?  Not usually.  If you have a strong case that will likely win, chances are you will qualify.  The litigation funding company will want information from your attorney regarding your case, such as the details of your injuries and how they occurred (details about the accident or circumstances that left you injured).  With settlement loans, you will not be asked for personal information such as credit rating, employment status, or criminal background.  The funding company simply wants to know that you have a solid claim before granting an advance.

You will not be out any of your own money in applying for or receiving an advance.  With settlement loans, there are no up-front fees or other out-of-pocket expenses.  You will only repay the money once your case has been won, along with any interest and/or fees that apply.  In the off chance you do not win your lawsuit, you do not repay the money.  You are never putting yourself at financial risk.

Settlement loans allow injury victims who qualify to obtain an advance of approximately 10% of their expecting settlement.  This is essentially your own money; it can be used to buy groceries, pay medical and doctor bills, household expenses, even attorney fees.

If you qualify for litigation financing, you can expect to get your advance quickly, usually within 24 hours.  The process is easy since the only information required is that related to your case, which your attorney will provide.  You can keep your creditors satisfied, and breathe a sigh of relief while waiting for your lawsuit to complete.

Get more details about settlement loans online, or discuss the process with your attorney, who can help decide if this is a good solution for you.

Posted in Legal