15 Jun 4 Requirements For Pre-settlement Funding: How You Can Regain Control Of Your Financial Stability
Certified Legal Funding knows that lawsuits can be costly affairs. This rings especially true for plaintiffs involved in personal injury lawsuits. When someone is injured due to someone else’s negligence, it can seem like the world is crumbling around you. Therefore, it is important that your pain and suffering is duly compensated. If this injury prevents you from working, then it will only exacerbate your money troubles. That will make that settlement even more critical for your financial stability. But, the catch is that you might not necessarily see that settlement money right away. Chances are that the opposing party will try to force you to settle for less. Or the lawsuit may go on for an extended period of time, time that you don’t have. So, the million dollar question is how will you survive until you are awarded your settlement? The answer is pre-settlement funding. Pre-settlement funding gives you the opportunity to become financially stable until you are awarded your settlement. Unlike the loans that a bank will give you, pre-settlement funding won’t require credit checks, won’t take your property as collateral, and won’t comb through your income history. Instead, you have to meet these four qualifiers.
Qualifier One: Valid Personal Injury Lawsuit
The first and most obvious step is that you have to be in a valid personal injury lawsuit. The certified legal company will of course check this, but it’s a first step to make sure everything is valid before proceeding with the approval process. Once your lawsuit’s validity is proven, then the next step can occur.
Qualifier Two: Lawyer On Contingency
Your lawyer must have been hired on a contingency. By doing this, your lawyer has agreed to take your case with the agreement being that they will not be paid until your case is won or if it settles. Their fees will be collected upon that time. Without a contingency, your case will not be approved for pre-settlement funding.
Qualifier Three: Lawyer Approval For Pre-Settlement Funding
If your lawyer is on a contingency, speak to them about the possibility of pre-settlement funding. Your lawyer needs to sign off on this before you can continue with the approval process. If they believe that it’s a good idea in your case, then you can move on to the next step. However, if they reject your proposal to use pre-settlement funding, then you won’t be qualified for approval.
Qualifier Four: Application Approval
After completing all the above steps, your case will be reviewed and approved on whether or not it is likely to win or settle. Once you qualify for that, you can send in an application to be approved for pre-settlement funding. If this is the case, then you can expect to see your cash advance very shortly.
Remember you only pay back the pre-settlement loan if you win your case. If you lose, you pay nothing. But, if you win you will have to pay back the amount loaned plus interest and fees. Pre-settlement funding differs from regular loans because you don’t have to pay back if you lose your case.
Now is the time to secure your financial future while you await your settlement. Don’t settle for anything less than the amount you deserve. Make sure you receive the money that should be awarded to you by calling us at 1-800-922-7439 today. We are available 24/7, because we know the world doesn’t stop for anybody. So, let CLF have your back with pre-settlement funding.