Pre-settlement funding can be a valuable resource for plaintiffs who are struggling to make ends meet while waiting for their legal cases to settle. However, not everyone is eligible for pre-settlement funding, and there are some important things to consider before deciding to apply.
Here at Certified Legal Funding, we specialize in providing accident victims with a financial relief while they wait for their settlement so that they can regain their financial freedom and focus on recovery. In this blog post, we will discuss how to qualify for pre-settlement funding and what to expect if you decide to pursue this option.
What is Pre-Settlement Funding?
Pre-settlement funding, also known as lawsuit funding or litigation funding, is a financial product that provides plaintiffs with cash advances before their legal case is resolved. The funding is typically provided by a third-party company that specializes in pre-settlement funding, and the funds can be used for anything the plaintiff needs, such as paying rent or medical bills.
How to Qualify for Pre-Settlement Funding
Have a Strong Case
To qualify for pre-settlement funding, you must have a strong legal case that is likely to result in a settlement or judgment in your favor. The funding company will assess the strength of your case before providing you with funding, so it’s important to have all the necessary documentation and evidence to support your claim.
Work with an Attorney
You must have an attorney working on your case to be eligible for pre-settlement funding. The funding company will need to communicate with your attorney to understand the details of your case and assess its strength.
Be in a Financially Challenging Situation
Pre-settlement funding is designed to help plaintiffs who are struggling financially while waiting for their cases to settle. If you have significant expenses that you cannot afford to pay, such as medical bills or rent, pre-settlement funding may be an option.
What to Expect with Pre-Settlement Funding
If you qualify for pre-settlement funding, the funding company will review your case and determine how much funding to provide. This amount will depend on the strength of your case and the amount of money you need to cover your expenses.
Once you receive funding, you can use the money however you need. However, it’s important to use the funds wisely and only for essential expenses, as the medical bills associated with post-accident recovery can be high and long-term.
If you lose your case, you typically will not need to repay the funding company.
Pre-settlement funding can be a helpful resource for plaintiffs who are struggling financially while waiting for their cases to settle. To qualify, you must have a strong case, work with an attorney, be in a financially challenging situation, and be willing to pay fees. If you decide to pursue pre-settlement funding, make sure you understand the process and discuss all your questions with a reputable pre-settlement company. With proper planning, pre-settlement funding can help alleviate financial stress and allow you to focus on your legal case.
If you are considering pre-settlement funding, we are here to help. And we made sure the application process is as simple as possible. All you need to do is fill out the form on our website – don’t worry, we only need your contact details and your personal injury attorney’s information.
You can also call toll-free 800- 922-7439 and apply over the phone – our friendly staff will be more than happy to guide you through the process and answer any questions you might have along the way.