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Tuesday, Sep 21, 2021
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Finance

Lawsuit Cash Advances: Is Pre-Settlement Funding Right for You?

Have you heard the quote some attribute to the legal process? “The wheels of justice turn slowly but grind exceedingly fine.”

Why is it so long and tedious to get through a lawsuit or any type of litigation?

When you’re waiting for lawsuit funding, the wait can seem excruciatingly long and painful.

If you don’t think you can wait out the legal process, you might consider lawsuit cash advances. Is that the right move for you? Keep reading to learn more and make an informed decision.

What is Pre-Settlement Funding? 

Pre-settlement funding is a cash advance on your pending lawsuit. As the plaintiff in a lawsuit, you may experience difficulty paying your bills while you wait for your case to be settled. Because going through the legal channels takes time, rather than applying for a loan to tide you over, you can apply for a cash advance on your expected settlement.

How Does it Work? 

When you find a settlement funding company and put in your application, they reach out to your attorney to learn more about your case. They need to get an idea of how much money you are expecting to receive from your trial or a pre-trial settlement. They use this information to decide on advancing you the money or not.

When the company has this information and decides to give you the advance, they give you a portion of the expected proceeds. When your case is settled, the repayment of the advance comes out of the settlement amount along with the funding fee and interest charges. You do not receive the whole settlement amount, but you had the money upfront and will get the balance minus the fees.

The funding company carries the risk of giving you the money before the case is settled. That’s why they do the evaluation before making the decision to give you the money. This means that if you don’t receive a settlement, you are not responsible for repaying the cash advance.

Choosing a Cash Advance Settlement Company

When choosing a company to handle your advance, check their licensing and compare the terms they offer. Are they licensed to do business in your state? What is their interest rate? How often do they compound interest?

Find a company that has excellent customer service and is willing to explain how everything works.

Are you wondering how a pre-settlement lawsuit loan works? Learn more about this settlement company’s three-step process and start your free case evaluation right now.

Lawsuit Cash Advances

Lawsuit cash advances have their pros and cons. Evaluate the good and bad and decide on the smartest financial decision for your situation. If you decide to go with pre-settlement funding, use a reputable funding company and understand the terms before finalizing the deal.

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