Pre-settlement lawsuit funding is a valuable resource for cash-starved plaintiffs. The fund can also be referred to as legal funding. So, what is legal funding? It’s a transaction in which a lawsuit lending company provides a plaintiff with a cash payment. Legal funding provides plaintiffs with much-needed financial relief during litigation.
It’s no secret that personal injury lawsuit cases take time. It could take weeks, months, or even years. And, nothing can be worse than when a plaintiff is forced to accept an early settlement because of the financial burden.
That’s why pre-settlement lawsuit funding is an idea that should be considered. It levels the playing field between the two parties. It enables attorneys to fight and ensure their client gets justice.
Plaintiffs directly benefit from the cash they receive from lawsuit lending companies. They can use the cash to buy medication and avoid evictions. That cash can also be used to make car payments and take care of other expenses.
Client legal funding provides individuals with extra options for solving their financial needs.
Benefits of Pre-settlement Lawsuit Funding
No matter how much we try to avoid accidents, they still happen. Some of them lead to serious personal injuries that affect people’s quality of life.
Individuals’ financial stability also gets affected, mostly due to their health situation. To make matters worse, you have to fight with insurance companies for compensation. This can be expensive and emotionally draining.
Accidents are never planned. So it’s not surprising that you may not have cash for cases and medical bills. That’s why plaintiffs do some legal funding reviews immediately when a lawsuit is filed.
Applying for accident settlement loans is not a complex process. It’s easy and will help you get the compensation you deserve. In this article, we discuss the benefits of law cash advance and why you should consider it.
- Pre-settlement Funding Increases the Value of Your Case
A lot of people are not aware of how much time and money goes into prosecuting a lawsuit. Financial stress can easily push a plaintiff to accept a settlement even before it’s ready. Being patient increases your chances of getting a higher court settlement. But, that patience must be solidified by a law cash advance to place you in a better position to wait.
- You Get to use Your Money When you Need it
A lot of people apply for pre-settlement loans to cover medical treatment and cash for cases. Thanks to these loans, plaintiffs don’t have to go through financial struggles.
With pre-settlement loans, plaintiffs are at liberty to use the cash when they need it. They can use it to make ends meet as their attorney pursues their claim in court.
- No Invasive Credit Checks
Applying for client legal funding is simple. Also, a plaintiff’s chances of getting the funds do not depend on their credit score. The main obstacle to legal funding could be your chances of success in the case.
With an attorney and a compensation claim, you can get the cash to assist you during the litigation.
What that means is that even with a bad credit score, you’d be eligible for an accident settlement loan.
- No Pay Back Until you Get Your Settlement Check
Personal injury settlement loans are not like the average loans. Lawsuit loan companies don’t require you to pay back until you win the case and receive your settlement. Moreover, income verifications are not done. This is considering that a plaintiff would be recovering and out of employment.
Lawsuit loan companies only require you to provide details about you and your case. They also need you to provide your attorney’s contact information. That and essential documents about your case are all they need to approve or deny you the law cash advance.
- Plaintiffs Pay Nothing If they Lose the Case
No plaintiff or lawsuit lending company wants to lose a case. That’s why lending companies thoroughly investigate claims before advancing you the funds.
But, even with careful reviews, sometimes things don’t go your way. In such a situation, plaintiffs don’t have to worry about paying back the pre-settlement loan. It’s that simple.
- Pre-settlement Lawsuit Funding Brings Peace of Mind
Lawsuit loan companies are aware of the possibility that a plaintiff may lose the case. That means that you are not expected to pay back if you applied for an auto accident loan unless you win the case.
Moreover, if the court settlement happens to be less than the amount you promised to pay, you’ll not be responsible for the difference either. This also depends on the agreement in the contract.
The ability to cover expenses despite complex litigation brings peace of mind.
- You Get More Time to Negotiate a Good Settlement
Personal injury lawsuit loans give plaintiffs the time to consider settlement offers. As a plaintiff, your objective shouldn’t be to prolong the court case but to obtain a fair result.
With legal funding, you and your attorney will have time to negotiate with the defendant. If a fair settlement is not offered, a law cash advance will give you the financial wherewithal to go to trial.
Conclusion
Personal injury lawsuit loans come with many advantages, as indicated in the article. So if you decide to apply for an accident loan, ensure you speak to your attorney to get some wise legal advice.
Despite the advantages, client legal funding comes with limitations. Look out for high-interest rates, application fees, and hidden clauses in the contract. You wouldn’t want to pay back double the amount you borrowed just because the case took longer in court.
If you face financial difficulties during the litigation, express legal funding companies can help you. Feel free to reach out to them and apply for legal funding.
