26 Jun Everything you wanted to know about pre-settlement cash advances
If you are not sure what a pre-settlement cash advance is, read on and find everything you wanted to know about pre-settlement cash advances and the best way to get one.
If you find yourself in the middle of lawsuit proceedings and are waiting for your personal injury case to settle, you can apply for a pre-settlement cash advance to bridge the gap between living expenses now and cash flow later.
What is a pre-settlement cash advance?
You have probably heard many different terms, such as lawsuit settlement, lawsuit funding, pre-settlement funding, legal funding, pre-settlement loans, lawsuit loans, etc. These terms generally refer to the same thing.
Pre-settlement cash advance means that a legal funding company buys a portion of your upcoming settlement in exchange for immediate cash for you. The money that you receive can be used for anything you want: to pay your bills, medical expenses, rent, mortgage, etc.
Legal proceedings can take months and even years, so receiving cash during this period can make a difference in your life, especially if you are unable to work due to injuries.
Additionally, it is essential to know that a cash advance is not a loan. While you will pay fees and interest on the advance, you will not need to pay it back if you lose your case.
Cash advance FAQs
People tend to ask a lot of questions about pre-settlement funding, so here are some of the most critical information.
How much can I borrow?
The amount that you will receive is based on several factors that can be determined only after a legal funding company reviews your case. There are no fees for an evaluation, and you may begin the process any time by completing a free online application.
Is my information safe?
Which situations are eligible?
A variety of cases may be eligible for legal funding. If your funding company is Certified Legal Funding, the following cases are eligible:
- Motor vehicle accidents
- Pedestrian accidents
- Worker’s compensation
- Slip/trip and falls
- Wrongful death
- Product liability
How to get a pre-settlement cash advance?
After having questions answered, let’s talk about the application process itself. Here are the necessary steps that you need to take to get a settlement advance.
- Talk to your personal injury attorney to decide whether legal funding is a good option for you.
- Submit an online application with a legal funding company.
- The company experts will contact your attorney and discuss your case
- The company will send you an agreement including the amount you are approved to receive, and all the terms will be stated.
- After you sign the agreement, it will be sent to the funding company.
- You will receive the funds.
A pre-settlement cash advance is an excellent solution for everyone who has found themselves in the middle of a lengthy legal process and with no steady income.
Everything you wanted to know about pre-settlement cash advances is in this article, and if you are ready to get the money fast, feel free to contact us and get the risk-free application process started.