Lawsuit Loans Help You Financially During a Personal Injury Case

People often wonder how lawsuit loans work.  If you are involved in a personal injury case, you may be realizing that they often get prolonged due to common legal defense tactics.  You expect money when your case settles, but that doesn’t help you now.  Pre-settlement funding is a method in which you can get the cash you need, now.

Litigation funding companies offer these cash advances contingent on the details of your claim.  Whether you are in a lawsuit regarding a car accident, medical malpractice, product liability or even wrongful death, you need money to pay living expenses, possible medical costs, attorney fees and other things.  It normally takes only one day to determine if you qualify for a lawsuit loans, and the information needed for that decision can be submitted by your attorney.

Pre-settlement funding is a good option when you want to continue your lawsuit to the end, but feel that you are financially unable.  There are no upfront costs to you, no monthly payments, and no credit checks or previous employment inquiries.  The process is simple and easy.  Another benefit of getting a cash advance from a litigation funding company is that in the event you do not win, you owe no money.  You only repay the lawsuit loan if you do win your case.

Choosing to apply for an advance from a settlement funding company gives much needed relief to many people.  There are no monthly payments as with traditional bank loans, and your credit status or even bankruptcy need not be a worry.  A common misconception among plaintiffs is that this is simply a way to get their settlement money faster, but it is not.  Pre-settlement funding is should be viewed more as a bridge that helps you stay above water paying your monthly bills while your lawyer fights to win your claim.

Occasionally, you may be denied when it comes to lawsuit loans but this is vary rare.  Reasons this may happen are that the plaintiff asks for an unreasonable amount of money, or the attorney is not willing to sign the contract or provide the necessary documentation.  These instances are very rare.

If you find yourself in the middle of a lawsuit you expect to win but that is becoming lengthy, ask your attorney about pre-settlement funding, or do some online research.  Lawsuit loans are a great way for you to stay afloat and not give in to selfish insurance companies that want you to settle for less!

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Posted in Financial, Legal