How Exactly Does A Pre-Settlement Lawsuit Loan Work?
Lawsuits can be some of the most stressful things to deal with, no matter who you are. From the stress caused by the accident to the long and tedious process of finding ways to be properly compensated for your troubles, it can be overwhelming as well as time-consuming.
One of the most aggravating aspects can certainly be the process of waiting for your settlement money. You might know you have a solid case, but the time it takes to reach a settlement may end up being weeks, months, and in some cases, years.
If your lawsuit involves a personal injury that requires medical attention or for you to take time off work, it’s easy for the bills to start piling up making the situation even worse. Thankfully, there is an option available that many people are unaware of in the form of lawsuit loans or pre-settlement funding.
Depending on your lawsuit details and how much money you need, lawsuit loans are different for different people, but the main goal is the same: to ensure that you have the funds you need to recover and fight your case comfortably. It’s a new process for many, but it doesn’t have to be a complicated one.
The first and most obvious step in this whole process is to apply for the loan. Unlike a traditional loan, there is no credit score required in order to apply. The “risk” involved has much more to do with your case and the probability of you winning than your credit score or credit history.
For many people, their lives may have been destroyed by whatever led to the lawsuit not to mention having to go through a credit check and being denied a loan on top of that.
Evidently, using this as a metric of approval is not always a fair one, which is why we know how important it is to consider other options. Applying is as simple as applying online. From there, you will be asked about several personal details as well as details that pertain to your case.
Like any lawsuit or legal action, it is always in your best interest to retain and record as much information and as many details as you possibly can to make this part of the process that much easier. While your lawsuit will depend on several factors and precedents to ensure a win, having all of the possible information on hand is always helpful in improving your chances of success.
Find Out The Result In Minutes
The best part of being able to apply online is that you will find out the result in just a few minutes from the moment you apply. Simply enter personal details as well as details about the lawsuit and incident itself.
Having the notes on hand and safekeeping them is a smart idea and will come in handy throughout the process. One of the amazing things of getting a result right away is that you don’t have to wait and worry about whether or not you’re going to get it for long.
In most cases, time is of the essence, and we are aware of that. You might have to take time off of work or pay medical bills, so knowing whether or not you will receive money takes the stress away.
Be sure to enter all of the information correctly so that you are able to get the right answer the first time. More than anything else, the goal is to make sure that you are able to support yourself during the lawsuit process and have one less thing to worry about.
Discuss Your Claim With An Attorney
The next step to getting your pre-settlement funding is talking about your claim with an attorney on our team. As mentioned above, it is imperative that you have the details of your case on hand when you need them.
The amount of funding that you will be able to get depends on the probability of your case being won and how much you will likely win in the settlement. This discussion wis crucial to understanding what you stand to gain from the lawsuit, and how soon you might be able to repay the loan.
Our attorneys have all of the necessary information to figure out just how successful you might be in the pursuit of justice. Whether it’s a car accident or an incident or a workplace incident, the attorneys have the right tools to help you determine just how much money you are entitled to get.
This will, of course, determine the amount of money you will be able to borrow via this loan. If nothing else, you will always have the option to back out after this point, but the attorneys will do their best to reach a positive outcome for you.
If Approved, Get Your Money Within 24 Hours
The main purpose of you seeking this loan is likely the time-sensitivity of your expenses, be they medical or otherwise, which is why securing the money can happen so quickly.
Once our attorneys can determine that you will more than likely win your case as well as how much money you are likely to get, your loan will be funded in one day’s time. This will give you plenty of wiggle room in order to pay some of your urgent expenses.
The best part of it is that you will also be able to dictate how you want the money to be funded. You will be provided a variety of payment options so that you will be able to access the money in a way that works best for you.
For some, receiving a check is not the most convenient option there is, so direct transfers are also available in order to fund your loan. The goal is efficiency and speed, which is what we strive for. We want the funds to be sent as quickly as possible.
What Happens If I Win My Case?
If you win the case, which is the best-case scenario, you will be able to repay the loan you received. Of course, if you borrowed less than you end up winning in the suit, you will be able to keep the remaining money for yourself.
The best part of this loan is that they are lent with a guaranteed low-interest rate. This means that your repayment amount will not be exorbitantly higher than the principal amount. Expect much lower interest rates than you would normally get when applying for a traditional loan. Whether you end up with a little more or just the right amount in your settlement as what you borrowed, you will generally have a much easier time paying it back thanks to the lower interest rate!
What Happens If I Lose My Case?
It’s important to consider what might happen if everything does not go the way you had planned. While you will have a pretty good idea about whether or not you will likely win your case thanks to the discussion with your attorneys, there is always a possibility that things won’t go according to plan.
If you lose your case entirely, you will not be expected to pay back anything. The terms of the pre-settlement loan stipulate that if you do not win your case, you don’t have to pay anything. Isn’t that great news?
Find out More Information Now
Unfortunately, pre-settlement loans are something many people know so little about, but it’s a great option to keep in mind if you ever find yourself involved in a legal case. You might only need help for a few weeks or a few months, but no matter the type of accident, having any kind of financial help always makes the entire process much easier to cope with.
To find out today if you are qualified for a pre-settlement loan, apply online.