Benefits Associated with Pre-settlement Funding
Being involved in a car crash is something that will have you spending a lot of money. In this case, you will have to nurse injuries, and you will not be able to work, and your medical bills will start piling up. You will end up with bills like rent and mortgage that you don’t have money to pay. Choosing to file a personal injury lawsuit will mean that you will need to wait on the entire legal process. This is where pre-settlement funding will help you. When waiting for the trial to take place, pre-settlement funding will help you reduce the financial strain you are dealing with after the accident. Seeking pre-settlement funding will benefit you in very many ways.
A significant merit associated with pre-settlement funding is that your credit score will not factor into your application. Unlike traditional loans, your credit history will not in any way affect your application. In this case, you will still be able to get the funding. The only thing you will need to do is provide the details for your lawsuit. They will be the ones to determine if you will qualify for pre-settlement and how much you will get. If you have a strong case, you will be eligible for funding.
An added advantage of pre-settlement funding is that it will help you afford a good lawyer. A lot of people are involved in accidents, and they don’t pursue any legal action. This is since the process can be very lengthy and it may waste a lot of your time. You will also end up spending a lot of your money because hiring a lawyer can be too expensive. You will find it easier to hire a qualified personal injury attorney when you have pre-settlement funding. This will improve your chances of winning the case and getting a higher settlement.
The fact that you will not need to pay a lawsuit advance is another reason why you should consider getting pre-settlement funding. A lawsuit advance is not in any way a loan. In this case, even if you lose your case, you will not need to repay it. The payment is usually received from your settlement and you will not have to pay anything. The lenders are always willing to take the risk of advancing you money. The fact that you will get the loan money quickly is another reason why you should consider pre-settlement funding. Loans can take very long to be approved and funded. This does not apply to pre-settlement funding. Within two days, you will receive the money from your loan application.