When you begin looking for pre-settlement funding for a personal injury case you must first understand a few critical items. When applying for pre-settlement funding for a lawsuit you must first have legal representation from a lawyer or attorney. No matter which pre-settlement funding company you choose they will require you have legal representation before processing your application.
You should also know there are many different types of funding available for lawsuit cases. If you have received a settlement and are already receiving payments through a payment schedule, you should try locating a structured settlement funding company. This company provides funding based upon your annuity.
There are also other legal funding for both commercial litigation and law firm loans. While most funding companies will offer an array of different funding cases, there are those company that provide a specialized area of funding.
Pre-settlement funding is unlike a regular loan in that a pre-settlement loans are offered on a non-recourse basis. Non-recourse means you only have to pay back the funding if you are successful in receiving compensation for your case. Pre-settlement funding are generally offer a higher interest rate than that of a standard loan because these loans are more riskier for the lender.
When evaluating a pre-settlement lawsuit funding company you should understand the following:
- Each company sets their own rates
- Companies tend to charge different rates for the same cases
- Some pre-settlement companies will only take selected personal injury cases while others will take a vast majority of personal injury cases.
- Depending upon the strength of your case will depended upon the approval of your case
- If a pre-settlement funding company takes on a higher risk their rates are typically higher
When you are searching for the right pre-settlement funding its better to have more alternatives. The right thing to do is select the company that makes most sense to you. Whether you are searching for the lowest rate, a flexible payment structure or a company that will offer you the most amount of cash upfront, finding that company can be a very complicated task.
LawLeaf is a free legal funding service that gives consumers an option. LawLeaf works with those people trying to secure the right pre-settlement funding for their personal injury case. We work with numerous legal funding companies ready to compete for your business.
If you are currently searching for Pre-Settlement funding visit LawLeaf today.