How Do I Know If a Pre-Settlement Loan is Right for Me?

No matter where you’re at in your lawsuit, there is always an option that can help you out of whatever dire straits you might be in. The great thing about pre-settlement loans is that you will be able to stay afloat with any money you might need ahead of waiting for your suit to settle and not have to worry about any repercussions should you end up losing your case. Of course, there are going to be people for whom this is more useful than others. Not everyone should take advantage of this option just because it’s available. These loans are essentially made for plaintiffs that are unable to wait for their cases to settle, particularly those that have been injured and are otherwise unable to work for income in the meantime. This might not always be the case, so be sure to consider your own situation when making the final decision. While it’s an option that is available, it’s still one that is slightly lesser known than other options. The good thing is that it is much less pressure than taking a traditional loan, so you won’t have to worry about paying it back at high interest rates. Here are the best ways to tell if this option is right for you.

You Are Not Financially Stable

The most important part of any lawsuit is wanting financial compensation for your pain and suffering, no matter what you want through. Of course, this can lead to a time of financial instability, or you may have been in it before your accident. Either way, this lack of financial stability is the first way to tell if this type of loan is right for you. It is not recommended that you pursue this option if you have financial stability, are able to continue work or have savings to cover you for long periods of time. Of course, life can change in an instant but it is generally easy to tell whether or not you are stable. Consider how you might fare without the loan and in the event that you have to wait over a year for your case to be settled. If you can see how that might create a financial burden for you, then consider a pre-settlement loan as an option that is worth exploring.

You Have a Case You Will Likely Win

The whole purpose of the loan is to repay it once you win, so having a case you are mostly certain will end in victory is important. Things may not always go as planned, but you will more than likely have an idea of just how plausible it is to win your case. Another great thing is that when you apply for said loan, you will go on to discuss the case’s details with our attorneys. From there, they will be able to advise you on whether or not your case is likely to be won, and make the decision to fund your loan based on that probability. In the event that you don’t win your case, you won’t have to pay back the loan. This is why TKTK takes extra steps to ensure that they will be able to recoup the money they are lending out. In turn, this will ensure that your case is handled with expert care to make sure you are given the justice you deserve. For many, it’s not only about the money in these situations, but also the satisfaction in knowing the company or entity who wronged you was ordered to award you for your inconvenience or injury.

You Have All the Details of Your Case

Having all of the appropriate details of your case is an important thing to have on hand, and a perfect way to tell if a pre settlement loan is right for you. You might have had a bad experience, but you will always get much farther by having all of the exact details of this experience for the purpose of the lawsuit. Defendants will attempt to capitalize on a lack of evidence or shaky details in their bid to avoid making any payouts, which is why it’s imperative that you have as many details as you can to assist in having an airtight case. More than anything else, having this kind of information can be make or break when it comes to your case, so just keep things like that in mind. Consider making notes the moment you have an idea that you’re going to pursue legal action. Condense any information you were able to gather from photos, videos, or audio recordings that you may have made on the day of the incident, and compile them in a safe place for later viewing and reviewing. It will make all of the difference in the world to have that kind of information on hand when you need it the most.

You Have Expenses That Just Can’t Wait

Much like it’s mentioned above, you might be in a space of financial instability in your life. Because of this, you might have a handful of expenses that you are unable to wait to pay or put off for extended periods of time. Often times with injuries, they leave you incapable of going to work on a regular basis. This can go on to cause bills to stockpile and get more worse and worse as time goes on. Depending on what your income is like, you might be able to hold them off for a few weeks, or maybe even months. If you can’t anticipate being able to do so for 6 months to a year or more, it might be in your best interest to simply go for the accident loan option! From medical expenses to everyday things like rent and other bills, getting a loan against your pending lawsuit might be the best possible way to ensure those bills are paid in full and on time. Many Americans are only a few paycheques away from their lives being a disaster, so be sure to be realistic about how long you are able to sustain yourself without it.

You’re in the Right State

While this might seem like an option that should and would be available all over the country, the fact of the matter is that there is a small handful of states in which is service will not be available. FundMyLawsuit works exclusively in most of the states in the country, but it will be up to you to check our website to ensure that your state is listed among those that we offer services in. For those outside these states, you may be able to find alternative options to ensure that you don’t have to wait months or years for legal compensation, but you will not be able to use FundMyLawsuit.

You Are Confident You Will Be Able To Repay With Interest

While you won’t have to pay anything back in the event that you lose your case, you will be expected to pay back the amount that you borrow plus interest if you win. Of course, the goal if for you to win your case and see justice, but also be able to pay back the loan has funded and then some. Ideally, you receive a n amount that will be more than able to cover the loan you borrowed plus interest but in the even that you don’t, it’s important to consider your other options. Think about the interest rate, which will thankfully be fairly low, and consider if you will be able to cover it outside of your settlement.

Want to Get Started?

Like any kind of loan, you will have to first see if you will be able to qualify. Applying online is easy, and you will ever receive a decision in a matter of minutes. From there, you will discuss your particular case with a selection of attorneys who will help you figure out just how probable a win for your lawsuit is.
To make things easier, apply online so that you can get things started.