Understanding Pre-Settlement Cash Advances for Personal Injury Lawsuits
If you’ve filed a personal injury lawsuit, you know how stressful the legal process can be.
While you await your settlement, expenses like medical bills and living costs can accumulate quickly. Unfortunately, settlements often take a long time, sometimes over a year, before you see any financial relief. In the meantime, you may be wondering if there’s a way to access the compensation you’re owed sooner.
Fortunately, pre-settlement cash advances offer a solution to help you cover current expenses while your case is ongoing. Here’s what you need to know about pre-settlement funding and how it can help you navigate the financial strain during your legal proceedings.
Why Consider Pre-Settlement Funding?
Millions of people across the United States experience personal injuries each year, from car accidents to slip-and-fall incidents, often caused by someone else’s negligence. If you’ve suffered injuries due to an accident and have filed a personal injury lawsuit, pre-settlement funding can help ease the financial burden.
Personal injury lawsuits are typically complex and time-consuming, and they often involve lengthy negotiations with insurance companies or the legal system. Pre-settlement funding, sometimes called a lawsuit loan or legal funding, can provide you with a portion of your anticipated settlement while you await the resolution of your case. This type of funding can help you cover medical bills, replace lost wages, and pay for other living expenses.
How Does Pre-Settlement Funding Work?
Unlike traditional loans that depend on your credit score or financial background, pre-settlement funding is based on the strength of your case. If you have a strong legal claim and have hired an attorney, you may qualify for pre-settlement funding.
The process is straightforward:
- Apply: You can apply online or by phone, providing basic information about your case and your lawyer’s contact details.
- Evaluation: The funding company will consult with your attorney to assess the strength of your case and determine how much money you may qualify for.
- Approval and Funds: If approved, you can receive the funds, which can be used for medical bills, lost wages, and everyday expenses.
Pre-settlement funding is not a traditional loan, and your credit score will not impact the approval process. The funding company’s decision is based on the merits of your legal case, not your financial history. Once approved, you can use the money for a variety of expenses related to your injury—except legal costs related to the lawsuit.
Is Pre-Settlement Funding Right for You?
Pre-settlement funding can be a helpful option for those who have no other financial resources to cover living expenses while awaiting their legal settlement. However, it’s not for everyone. If you have access to other forms of financing, like a personal loan or home equity, those options may offer better interest rates and terms.
Before deciding on pre-settlement funding, you should explore all available options, including checking with your insurance provider, family, or friends, to avoid paying higher fees associated with legal funding.
It’s important to remember that if you opt for pre-settlement funding, you’ll be required to repay the amount advanced, along with any applicable fees, once your case is resolved. Therefore, it’s essential to weigh the cost of immediate cash against the long-term value of your settlement.
Get Help Today with Pre-Settlement Cash Advances
If you’re struggling with medical bills, lost wages, or other expenses during your lawsuit, pre-settlement cash advance may be the solution you need to stay financially stable while your case is ongoing. Call us today at 888-474-8473 or Apply Now to get started. Our team at PrimeCare Network is here to support you every step of the way.
Disclaimer: Pre-settlement funding is not a loan in the traditional sense and is based on the strength of your legal case. Terms and conditions apply, and all applicants should carefully review the funding agreement before proceeding. This content is for informational purposes only and does not constitute legal advice. Consult with your attorney before making any decisions regarding pre-settlement funding.
