How Low Can Post-Settlement Loans Interest Rates Be?

One of the best things about lawsuit loans is the fact that you will be able to enjoy slightly lower interest rates than you would with more traditional loans. It’s always better to have that as an option, because it makes it easier to pay back in the event that you do win. For the most part, most rates vary from company to company, which is why it’s important to let Delta Settlements be your first choice in these kinds of matters. When it comes to post-settlement loans, there is still a lot of risk associated with the whole thing, so some companies for the most part want a high interest rate applied to the loan in the event that the case is lost. Of course, this also comes with the possibility that you have to pay back the loan plus that interest not having won that case. For some companies, they can expect to see losses around 10%, which is why they may make their rates a bit higher. Here, we broke down a few reasons why our interest rates are lower than industry standard, and how you can ensure the success of your case from start to finish.

Our Rates

Unlike many of the other lawsuit loan options on the market, Delta Settlements’s interest rates are anywhere from 1% – 3% of the principal. This works out very well for anyone who is looking to this as an option. As you might imagine, waiting on settlement money from a lawsuit can be a long and annoying process, but being given access to funds that can tide you over in the meantime is always helpful. While you might only get a percentage of your settlement amount, the amount that you can get approved for may also vary depending on whether you get pre and post-settlement funding. For the most part, post-settlement funding is easier to acquire and likely for larger amounts simply because the case has concluded and you have been guaranteed a certain amount of money despite not having it given to you right away. Often times, a defendant is obligated to pay the defendant a certain percentage of the settlement very soon after the decision, but the rest generally hangs in the balance, so to speak. Once you are approved for a post-settlement loan, you will largely not have a hard time paying it back while waiting on the settlement money to be sent to you thanks to its low interest rate. By the time your settlement arrives, you have the option of using the lump sum to simply pay off whatever might be left from the loan after you’ve been making regular payments, or you can keep making regular payments that will see it paid off in the prescribed time frame. For pre-settlement loans, they might work a bit differently. With these, the risk of higher and so are the terms. You can expect slightly lower loan amounts and slightly higher interest rates as well. Thankfully, in the event that you lose your case entirely, you won’t have to pay the loan back.

Be Realistic

While you might expect a large settlement from your case, the amount that you will be able to borrow will typically be up to 20%. For many, this will be a very helpful sum and will tide them over if the incident they are filing the lawsuit over has left them unable to work or with extra medical bills as a result of a personal or workplace injury. In the end, it’s one of the safest options for you to use as opposed to brokers and other types of lending options. It’s also important to keep your legal team in the loop about the loans you may be applying for, as the companies, such as Delta Settlements, will call your lawyer to verify the information you provide about your case. It will be in your best interest to give them a heads up that you applied for lawsuit funding so they are well aware of the information that they will be expected to provide and verify. While Delta Settlements can give you a response within minutes and funding within 24 hours, making sure that your legal office is in sync will help avoid any further road humps that you might encounter during the process of getting everything together.

Be Diligent

It’s important to be diligent about the amount of money that you’re applying for and making contingency plans for paying it all back in the event that getting your settlement money takes much longer than you anticipated. For some lenders, it can be expensive and interest can certainly add up over time. The best thing to do after taking advantage of a lender like Delta Settlements with some of the lowest rates in the market, is to only borrow exactly what you need. It can be tricky, since you may not be aware or just when a case is supposed to settle. You should, however, try to keep only immediate living expenses in mind when making the decision on the amount. Always remember that you do not have to take and accept the highest amount that they offer you. If you see yourself only realistically need half of what was offered to you, feel free to stick to that. In the long run, it will make the repayment of the debt that much simpler!

Apply ASAP

The best thing you can do for your case is apply for a lawsuit loan as soon as possible. In a perfect world, you might be able to borrow the entire amount that you expect to win, but that might not always be a possibility. Think about whether or not you need to apply for a certain amount right away, and go from there. There is a lot that you will need to consider before that, including whether or not you need the full amount you’re asking for, and how likely it is that your case will be won. With Delta Settlements, there is no credit check in terms of getting your loan funded, which is both a gift and a curse. On one hand, being able to access the loan based only on the probability of your case being successful gives a lot of people access to the funds they need to tie them over but it also is a high risk situation for all parties involved. In the event that you don’t win, you don’t have to repay the loan however it might hurt your chances for a future lawsuit loan with us in the future. In any event, applying as soon as possible will make it much easier to discuss all of your options with an attorney to make things run as smoothly as possible. It’s always much better to have all of the information that you might need in the very beginning.

Apply For Your Lawsuit Loan Today

The best thing about the application process with us is how simple it is. You only have to head to our website in order to find out if you are able to receive a loan. Simply enter in your contact information and details of the case and settlement that you are looking to take out a loan against and go from there. In just a few minutes, you will be able to find out whether or not you will be able to get a loan with Delta Settlements, and how much will be funded to you. For pre-settlement cases, the amounts will take into consideration that the case has not yet concluded. In post-settlement situations, you might be able to get a lot more due to the fact that the money is more or less guaranteed, but not being paid at that time.
Be sure to record and keep all of the relevant information for your case so that you are able to quickly and easily apply for the lawsuit loan with us and find out quickly whether or not you are able to have it funded.
Lawsuits of any kind can be a tricky and arduous thing to deal with, so be sure to apply today.
To check if you qualify for a lawsuit loan, apply online.