4 Reasons You’ll Be Glad You Got Consumer Legal Funding also known as Pre-Settlement Funding
Submitted by: High Rise Financial
When an accident leaves you injured and unable to work, your bills can quickly pile up. A personal injury lawsuit could take months to settle. How are you supposed to get by in the meantime?
You may be wondering whether or not pre-settlement funding is right for your situation. If you’re on the fence about receiving money against your settlement, here are four reasons you may be glad you did.
- Fast Access to Funds
The most obvious benefit to pre-settlement is fast access to money. An accident can throw your life into chaos. Most Americans live paycheck to paycheck and can’t handle the financial burden of a sudden emergency.
Pre-settlement funding can get you the money you need now. Typically, the legal funding company’s response will be swift. We quickly assess your case and determine your future settlement’s value. We also typically provide our clients with funds within 24-48 hours of receiving their application.
- Easy Application Process
Unlike other methods of financing, our pre-settlement funding has an easy application process. We know you’re going through a lawsuit, and there’s no reason to complicate your situation any further. Just fill out the short application form. That’s it. There’s no credit check, no proof of employment, and no application fee.
After the legal funding company receives your application, a representative will contact you to discuss your case.
- It’s Not a Loan
The usual ways of getting money in a pinch are bank loans or payday loans. Personal loans can be tricky to obtain. You may need to put up collateral, such as your car’s title. You also need an excellent credit score to avoid high interest rates. Loan repayment starts right away in monthly installments.
Pre-settlement funding is not a loan. You don’t have to worry about monthly payments with added interest and multiple fees. We calculate repayment by adding the amount you borrowed to our flat-rate fee. Your lawyer handles this after you win your case.
With a loan, you are held responsible for repayment even if you lose your case. Pre-settlement funding is risk-free. Similar to many personal injury attorneys, we work on a contingency-fee basis. If you lose your case, you don’t owe us anything.
- Optimize Your Case
The most important reason to apply for pre-settlement funding is to give you more time to work on your case. You might have injuries, property damage, or car repairs to worry about after suffering an accident. If you can’t work, you might fall into debt. Insurance companies are known for throwing out lowball offers because you can’t afford to wait for a fair settlement.
You wouldn’t grocery shop on an empty stomach. So why negotiate your settlement on an empty bank account? Pre-settlement funding gives you early access to money you expect from your settlement so you can keep your bills paid while you work on your case. Get the full settlement you deserve without depleting your savings.
How Much Money Can I Get With Pre-Settlement Funding?
Because pre-settlement funding is on your settlement, the amount you can expect to receive is dependent on your particular situation. Therefore, the more you expect from your settlement, the more we can provide you in funding.
Companies can provide consumers with payments ranging anywhere from $500 to $250,000. Severe injury, disability, or wrongful death claims will typically see higher amounts than personal injury claims where a full recovery is predicted.
How to Apply for Pre-Settlement Funding
If your personal injury case is taking too long to settle, you may want to apply for pre-settlement funding. Pre-settlement funding could be the perfect solution for you, just as it has been for injured plaintiffs all over the country.
To apply for pre-settlement funding, you’ll want to do your homework and research the consumer legal funding company’s reputation. You’ll want to look for a legal funding company with positive Google reviews. Once you find the right legal funding company, contact them and they will begin the process with you and your attorney.
