10 Dec Who Qualifies for Pre-settlement Loans?
If you’ve endured an injury caused by an accident, the thought of proceeding with a lawsuit can be overwhelming. Lawsuits are expensive and time-consuming. It can be months before you get your day at the court, which is often only the beginning of a long process. And bills don’t wait, in addition to the mounting cost of medical treatments. In addition to paying for rehabilitation or other medical expenses, you still have to pay the mortgage. And you may have to take time off work to focus on recovery. The personal injury lawyers at Certified Legal Funding know that waiting for a settlement can add stress to an already stressful situation.
Legal settlement loans, also known as pre-settlement accident lawsuit funding, can be the perfect solution if you are waiting to receive a settlement in a personal injury claim. But how do you know if you qualify for legal finance loans? Certified Legal Funding specializes in low-interest pre-settlement loans, and has answers to questions you may have about regaining your financial freedom.
What is pre-settlement funding?
A legal finance loan is not a traditional loan. Rather, it’s a cash advance on an expected settlement or verdict in a pending legal case. This means that you can get a portion of your pending settlement as an advance to cover your living expenses while you wait for the full settlement.
Pre-settlement legal funding, unlike bank loans, is non-recourse. This means that if you don’t win your case, you don’t have to repay the funds. So you aren’t borrowing money that you have to pay back over a set number of years. This alone can relieve financial strain while you focus on recovering from your injury.
Who qualifies for pre-settlement loans?
It’s important to know what requirements you need to meet in order to qualify for a cash advance. There are two factors that determine whether you qualify. The first is having an ongoing personal injury lawsuit active. The second requirement is that you already have a personal injury attorney representing you.
Other requirements that are usually associated with bank loans play little to no role when applying for cash for lawsuits. For instance, when applying for a bank loan, your credit score is a major factor determining whether you get the loan. This may seem as if the system is rigged in favor of people who have higher incomes and credit scores. But when it comes to legal funding, you can qualify for a pre-settlement loan even if you have a credit score that is less than perfect.
How does personal injury funding work?
If you have a pending personal injury lawsuit and you hired a personal injury attorney, the process of applying for a pre-settlement loan is rather simple. The staff at Certified Legal Funding can help you apply within minutes. All you need to do is fill out the form with your details to apply online, or call 800 922-7439. A helpful agent who is knowledgeable about pre-settlement loans will walk you through the application process. Then, in collaboration with your attorney, Certified Legal Funding takes care of the rest so you can focus on recovery.
When can you access your funds?
Once your application is approved, the money will be transferred to your account in less than 48 hours. Then, you can spend it as you see fit. There are no restrictions as to how you spend the pre-settlement funds. After all, it is your money to spend!
How do you get the help you need?
If you have questions about legal funding for lawsuits in Tampa or you want to find out more about Certified Legal Funding, call 800-922-7439 to get the financial relief you need. All you need to do is pick up the phone, and you can get answers from one of the best pre-settlement loan companies in Florida.