Settlement Loans Offer Financial Relief to Plaintiffs Involved in Personal Injury Lawsuits

You were injured in some type of accident that was the fault of another party.  Now, you find yourself in a lawsuit fighting for your life, but your finances are dwindling.  Settlement loans help you avoid financial disaster and bankruptcy, which can become very real factors when you are injured and unable to work.  Litigation financing is a process in which you may be able to get an advance against your pending settlement.

It all seems so unfair, and truly it is.  Someone else’s negligence has caused you to become injured, perhaps seriously.  You are not able to work and now you have medical bills coming in on top of everything else.  Settlement loans help you pay all of those bills, so that you can live normally while waiting for your lawsuit to settle.  Another benefit of litigation financing is that you can avoid settling with the insurance company for less than you are entitled to.

Is this money free?  No, there are fees associated with getting an advance on your pending settlement.  However, when you weigh the pros and cons you will see that a settlement loan work to your advantage.  Since insurance companies often offer you only a small fraction of what you deserve, it may not be a good idea to choose this option.  However, you do not want to be hounded by creditors or face bankruptcy, so securing a settlement loan may be in your best interest.  You can pay your bills, medical costs, attorney fees and other expenses so that you can focus on winning the entire settlement that you deserve.

How will you repay the money?  With litigation funding, there are no up-front costs or monthly payments to worry about.  You do not repay the advance until you actually win your lawsuit and have your money in hand.  What if you do not win?  No worries there, either.  Settlement loans are non-recourse, which means that in the event you do not win your lawsuit you owe absolutely nothing.  It’s really a win-win situation.

Is the litigation financing process confusing or complicated?  Not at all.  There are no credit or employment checks to worry about.  The information gathered is related only to your lawsuit, nothing else.  With settlement loans, the attorney is responsible for filling out the application and submitting it to the settlement funding company, who will then review it to see if you qualify.  This process usually takes 24 hours or less, so if approved you will have the money you desperately need immediately.

Are settlement loans an option you should consider?  Weigh the pros and cons, learn more about litigation financing online.  You can live a comfortable life while waiting for your lawsuit to settle, without the worry of financial ruin or how you will pay the bills.

Posted in Financial