If you have an ongoing lawsuit and you want to maximize your compensation, it’s in your best interest to opt for pre-settlement funding. In case you haven’t heard about pre-settlement funding before, you should know that it’s a type of settlement loan where you receive cash in advance while waiting for the outcome of your lawsuit. If you have been in an accident and you are injured, which leads to frequent hospital visits, then you can specifically benefit from the pre-settlement funding.
Read on to learn about how you can secure pre-settlement funding for your lawsuit.
What is Pre-Settlement Funding About?
Before we proceed to the process of securing peace settlement funding, you should know how this type of loan works. When you apply for pre-settlement funding, the loan provider will ask your lawyer for the details of your lawsuit, along with documents. The company will then evaluate your probability of winning the case or settling before trial. The professional experts will also assess the amount that you’re likely to receive when you win your case.
Once the professional experts have carefully analyzed your case and all the information, they will offer you a loan. Instead of accepting the offer right away, make sure to discuss it with your attorney. Once you and your attorney are on the same page, it’s all right to sign the agreement.
Process to Qualify for Pre-Settlement Funding
Only apply for the funding if you have filed a lawsuit. Make sure to have an attorney by your side, too. You can apply for funding even after you have won your respective case and are waiting to receive the compensation. Apply for pre-settlement funding in your respective state, such as the pre settlement funding california if you are a resident of California.
However, make sure to partner up with a reputable pre-settlement funding company, such as US Claims. Some of the common cases where pre-settlement funding is a great option include wrongful death, personal injury, and slip and fall cases.
How to Narrow Down Your Options for the Best Pre-Settlement Funding Company
When it comes to selecting a pre-settlement funding company, make sure that the company is reputable, licensed, and operates in your state. Instead of settling for the first company that you see online, it’s important to compare the fees and amounts offered by various companies. Pay attention to the interest that each of the companies charges, as it can greatly affect the amount that you receive for your final settlement.
Double-check how quickly you can receive the funding, which is especially important when you need the money for time-sensitive expenses, such as medical bills. Absolutely ensure that you don’t have to pay back the loan unless you win your case.
Final Thoughts
With pre-settlement funding, you can receive cash quickly, which comes in handy if you have unpaid medical bills or are no longer able to work due to your injuries. With the funding you receive, you can avoid unnecessary debt that can be caused by a short-term financial emergency.
