When you have been injured and looking for pre-settlement funding also known as lawsuit funding, there are certain steps you should take prior to accepting a lawsuit loan.
- You should always evaluate more than one funding company
- You should always compare both the amount of the loan and the interest of that loan
- You should never work with a company that doesn’t offer non-recourse funding for any type of pre-settlement lawsuit cash advance
- The amount of money you request should make financial sense to you
A lawsuit pre-settlement cash advance is a good way to get immediate cash. Unlike a bank loan, pre-settlement funding typically comes non-recourse, which means you don’t have to pay back the lender if your attorney is not successful at winning your case. Prior to requesting money for pre-settlement funding you should also consider the estimated time the case should settle. For example, if your personal injury case potentially could take a year or longer, perhaps the amount of money you request may be higher. If your case is nearing settlement it may make sense to request smaller sums of cash.
Pre-settlement funding is money that is advanced for most personal injury related cases. Personal injury pre-settlement funding companies require certain documentation prior to offering a plaintiff a cash advance. The documentation needed is requested by the company and provided by your attorney. Once the documentation is received the company will evaluate your case to see if you qualify for funding.
If accepted for a pre-settlement cash advance the person is immediately forwarded a contract along with a payment structure included with the amount decided upon and the rates on the advancement.
As with any type of cash advancement it may be beneficial to shop your rates. LawLeaf offers an online service for those people who want to find the best rates for a pre-settlement lawsuit loan. If you are in the process of seeking a company to handle your pre-settlement lawsuit cash advance LawLeaf can work for you. LawLeaf works with a network of legal funding companies that are ready to compete for your lawsuit pre-settlement loan.