08 Sep How to Get a Cash Advance on a Pending Lawsuit
Accidents are stressful, there is no doubt about it. No one expects, plans, or looks forward to being in any type of accident. Yet, what many fail to realize is that accidents are usually just the beginning of a stressful series of events. Once the shock wears off, you are left to deal with medical treatments, unplanned expenses, counseling, time off work, and regular bills piling on. It can start feeling overwhelming in no time. The team at Certified Legal Funding, Inc. (CLF), in Tampa, Florida, can guide you solve this financially and legally stressful puzzle.
To add insult to injury, filing a lawsuit does not instantly alleviate your stress. In fact, with courts being underfunded, it can add to your stress, since it takes a long time for a judge to hear and rule on your case. So, what can you do while waiting for your compensation? How will you pay your bills and expenses, let alone for your lawsuit-related fees? Luckily, CLF can help you regain your financial freedom while you wait for your lawsuit compensation.
Here are answers the team has gathered to commonly asked questions:
Do I qualify for legal funding?
The only requirement is that you have been involved in a personal injury case and have secured an attorney. Qualification for legal funding is based on injuries that result from car accidents, accidents in the workplace, medical malpractice, product liability, and slip-and-fall accidents.
What is settlement funding?
Settlement funding, also known as a lawsuit loan or cash advance, can help you cope with routine expenses and medical bills while you wait for settlement of your lawsuit. While often referred to as loans, lawsuit funding is not a traditional loan. For example, Certified Legal Funding offers legal funding for lawsuits in Tampa, but unlike a bank, it does not assess your credit. Instead, CLF will discuss your case with your attorney to decide if you qualify for a cash advance.
Simply put, the process does not involve giving out loans. But settlement funding does involve buying a portion of your potential settlement in exchange for repayment if you win your case. While you are required to repay your bank loan whether you win or lose your case, you are not required to repay lawsuit funding if you lose your case. This means you can take as much time as needed to build a solid case and negotiate a fair settlement without any added risk.
How long do I have to wait for cash advance?
Getting pre-settlement accident lawsuit funding is fairly straightforward. If you have been involved in an accident and you hired a personal injury attorney, you can receive the cash advance in less than 24-48 hours. This is due to the fact that there is no time-consuming paperwork required to apply. And considering CLF does not assess your credit, the only factor that affects how long you wait for your advance is how quickly you or your attorney can pass along your basic case documents.
What can settlement loans be used for?
If you have been injured in an accident, you might be unable to work for some time. As a result, you could fall behind on your bills. Settlement loans can be used to pay your mortgage, medical bills, and cover your living expenses. At the end of the day, the cash advance is yours and you decide the best way to spend it. It’s worth remembering that the team at Certified Legal Funding can not only help you get funding for lawsuits, but they can also help you obtain a cash advance from a pending lawsuit.