13 Feb What Are the Benefits of Pre-Settlement Funding?
No matter how careful you are, accidents do happen, and when they lead to personal injuries, they can affect the quality of your life, as well as your financial stability. In addition to recovery, you then have to deal with insurance companies and fight for the compensation you truly deserve. Needless to say, both recovery and filing lawsuits cost money.
Since no one plans for an accident, it shouldn’t come as a surprise that you probably don’t have the cash for lawsuits just lying around. However, getting funding for lawsuits isn’t as difficult as you might think, and it could help you ensure you get the compensation you deserve. Here are some of the benefits of certified funding and why you should consider it.
No Risk and No Collateral Required
Pre-settlement funding is a non-recourse advance. This means that if you don’t win your personal injury case, you do not have to repay the advance in full. Getting a loan from a bank or applying for a new credit card, on the other hand, might get you in a tight situation if you don’t win your case because you will be expected to repay the loan regardless of the outcome of your case.
Legal Settlement Loans Don’t Require Invasive Credit Checks
Applying for legal finance loans is pretty straightforward and your chances of getting legal funding do not depend on your credit score. Instead, the main factor affecting your chances are your chances of winning your case. If you have a personal injury attorney and a compensation claim ongoing, you can apply to get legal funding now before your personal injury case settles or goes to trial. In other words, even if you happen to have a bad credit score, you could be eligible for personal injury funding.
Getting Legal Funding for Lawsuits in Tampa Is Quicker than Getting a Loan from a Bank
Applying for a bank loan can take forever and a day, which you can’t afford when protecting your right for compensation. Applying for legal funding for lawsuits requires far less paperwork and you can get an advance in a matter of days, if not hours.
Legal Funding May Give You More Time to Negotiate a Good Settlement
No one really wants their case to drag on, however, you’ll also want to avoid settling too soon simply because you had medical bills and other expenses to cover. By applying for pre-settlement funding, you will alleviate a lot of financial stress, which will give your attorney more time to negotiate the right compensation.
Freedom to Use the Money However You Need
Personal injuries can cause a variety of unexpected expenses – and we’re not talking just about medical bills. There are often missed wages caused by an inability to work, which can make paying your regular bills challenging. When it comes to pre-settlement funding, you have full freedom to use the money however you need.