Understanding Pre-Settlement Funding and Lawsuit Loans

Have you been seriously injured in an accident? You may have heard the term pre-settlement funding, but are not quite sure what that means or how it works. Lawsuit loans are simply an option for people who need financial assistance while waiting for their claim to settle.

When you have been injured in a car accident, slip and fall, workplace or other accident caused by someone else, insurance companies often try to get you to settle for less than you deserve. Many times, when litigants don’t have the money to pay household bills, medical costs and other expenses, they simply cannot afford to prolong the case, and end up settling. Pre-settlement funding companies can help you avoid this, so that you can live comfortably until your claim settles.

Lawsuit loans are not “loans” per se, but more of a cash advance. This amount is usually determined by the assumed outcome of your case. Documentation and any paperwork necessary for the litigation financing company will be sent by your attorney to the funding company. They will then study the facts of your claim to determine if you are eligible for an advance.

Once it has been decided that you do qualify, the litigation financing company will fax papers to your attorney for both your signature and his. You learn if you qualify the same day, and if so your money is available the very next day. If you have questions, you can call the funding company with any concerns you may have before applying for financial assistance.

What can you do with the money you obtain through pre-settlement funding? Pay household bills, medical fees, repairs for your automobile if it was damaged in the accident, etc. This is money to help you live your life normally without the financial stress of getting behind on your obligations while trying to pursue compensation for your injuries. This way, you don’t have to settle with the insurance companies for less than you deserve.

When you are injured in an accident, don’t feel that you can’t pursue what you rightly deserve! Lawsuit loans are designed especially for people who want to file a claim in order to be fully compensated for their injuries, but feel that their financial situation won’t allow them to. Pre-settlement funding may be just the solution to your dilemma! Talk to your attorney today about the best options for you.