08 Jun Understanding the Risks When Using Pre-Settlement Funding To Receive a Cash Advance
Nobody wants to be involved in a serious accident, especially if it’s going to shake someone’s financial stability. Unfortunately, it happens and there is very little anyone can do about it. When you are injured due to someone’s negligence, it can easily put you in a dire position. Bills are piling up, medical bills are become expensive burdens that you didn’t plan for, and your income stream can be gone due to your injury. With all these problems popping up at once, how are you supposed to survive? How can you pay your bills if you aren’t working? Well, you have an option: pre-settlement funding. With pre-settlement funding, you can receive a lifeline while you wait for your settlement to come through. Pre-settlement funding allows you to receive a cash advance within 24 hours of approval, with no risk! The great thing is if you lose your case, you don’t have to pay a legal funding company back. Plus, there is no credit check that would disqualify you.
It’s important to understand what a pre-settlement loan can exactly do for you. Before signing, it would be wise to look at the risks associated with a legal funding company. One of the major risks to look out for is the fee/interest rate. Some pre-settlement funding companies charge what is known as a compounding fee, which is risky. If your case takes a long time to settle, the compounding interest could end up doubling what you owe. These are terms that you need to closely look at when choosing a legal funding company. Don’t be fooled by thinking that you got a good deal when you could end up winning a settlement, only to owe more than you were awarded.
Prevent yourself from further becoming a victim by being a smart shopper. Take a look at the industry standards that are associated with pre-settlement funding before you decide which company to go with. Depending on your situation, it may be best to hold off. But, if you need the money now because of your mounting financial burdens, then CLF can help you. We understand that you need money now and that you cannot afford to wait.
Now is the time to secure your financial future while you await your settlement. Don’t settle for anything less than the amount you deserve. Make sure you receive the money that should be awarded to you by calling us at 1-800-922-7439 today. We are available 24/7, because we know the world doesn’t stop for anybody. So, let CLF have your back with pre-settlement funding.