14 Dec What’s The Difference Between A Pre-Settlement Cash Advance & A Loan?
Dealing with a personal injury case can take months and sometimes years for an individual to receive compensation. During the length of the case, an individual may not be able to work which can put them in a tough financial situation. If a person is out of work they may not be able to pay their medical bills as well as their living expenses. The length of a case sometimes deturs individuals from even filing a personal injury claim. It is also common that a person may accept a minimal compensation to end the case quicker due to their financial situation.
Fortunately, there are options available to provide money to plaintiffs in the midst of a legal case. The two common options are a pre-settlement cash advance and a bank loan.
Pre-Settlement Cash Advance
A pre-settlement cash advance has many benefits over a traditional bank loan. Many people question, “what is a cash advance?”. A pre-settlement advance, cash advance, or legal funding provides plaintiffs with cash in their pocket during the duration of their case. Most importantly, a cash advance does not need to be repaid unless the plaintiff wins their case. The company that provides a cash advance, purchases a portion of the recovery of your case. This makes cash advances stress free.
To qualify for a cash advance, you must have suffered a personal injury and already hired an attorney. If you have poor or no credit, you are still eligible for a cash advance. All an individual has to do is fill out a quick application. Once the application is sent in and approved, an individual can receive cash in their pocket fast.
When an individual is put in a tough financial situation, it is common for someone to apply for a bank loan. While a bank loan can be helpful, there are many negatives. With a loan, it is mandatory to pay the money back no matter the outcome of an individuals case. If a plaintiff does not receive compensation at the end of the case, the loan could lead to high debt. A loan provides no financial safety for individuals in the middle of a legal case. In fact, a bank loan is very risky to take on if you have no guarantee of receiving compensation.
Where to Apply for Pre-Settlement Funding
When it comes to legal funding for lawsuits, a cash advance is your best option. A cash advance is risk-free and you can get cash in your pocket, fast. Getting behind on bills or being in debt is stressful. Avoid the stress and apply for a cash advance with Certified Legal Funding.
Certified Legal Funding provides pre-settlement funding to assist individuals in the middle of a personal injury case. Remember, a cash advance is not a loan. If you don’t win, you don’t pay. Don’t wait, call today! Apply now by calling (800) 922-7439!