19 Apr Are 24-hour legal settlement loans too good to be true?
We as a society are conditioned to believe that there must be something wrong with everything we got without a struggle. After all, that is the basis of the American Dream – if you want something, you have to work hard to get it. It is no wonder, then, that there are so many misconceptions surrounding legal settlement loans. Getting a cash advance on your settlement and never having to repay it if you lose your case does sound too good to be true on the surface level.
So what is it with these legal finance loans? Do they just hand out cash for lawsuits? And most importantly, are legal settlement loans too good to be true? Here at Certified Legal Funding, we specialize in providing plaintiffs with a lifeline while they wait for their settlement money. Today, we are sharing everything you need to know about pre-settlement funding.
What is personal injury funding?
Before deciding whether certified funding is too good to be true, we need to take a step back and see what it really is. Legal funding for lawsuits in Tampa, while referred to as legal finance loans, is not really a loan. In fact, it is just an advance on your pending settlement.
Who qualifies for legal settlement loans?
Not everyone qualifies for legal funding, but the checklist is a lot simpler than it is for bank loan applications. First, if you have suffered a personal injury, especially one that requires time off from work and forces you to pay other obligations, you might qualify for certified funding. Second, you need to have a personal injury attorney.
Why would a certified legal funding company approve my request if I have a bad credit?
Here at Certified Legal Funding, we made sure the application process is as simple as possible. All we need are your contact details and information about your attorney. There are no credit score checks involved, simply because there is no need for those. The outcome of your application depends solely on the circumstances of your case and your claim.
Because there are no complex financial background checks, you can get your money a lot quicker than you would if you were applying for the traditional bank loan. In fact, once your attorney delivers all of the necessary evidence and paperwork, we make a decision based on your case and once the application is approved, you can access your money in 24 hours or less.
You do not have to repay your settlement loan if you do not win your case
Another reason why personal injury funding sounds too good to be true to some people is the fact that you do not have to repay it if you do not win your case. We purchase a portion of the recovery of your case. The investment and profit are paid from the proceeds of any settlement or judgment.
Want to know more?
While legal settlement loans might sound too good to be true at first, qualifying for one requires you to have sustained personal injuries and you need to have a personal injury attorney. If you don’t have an attorney call us on 800-922-7439 before filling up the form. If you have more questions or concerns, our friendly staff will be more than happy to answer them. Just give us a call or fill out the contact form.