Being a plaintiff in a personal injury lawsuit is a sort of double whammy given to you by life, and an unfair one at that. The first insult of course that you have been a victim of someone else’s negligence, and the second is the fact that you have to wait for the insurance company to settle your case.
You may know that at the very least, you have the right to hire an experienced personal injury attorney at no cost to you to defend you in your case, so that you are actually given a commensurate jury award or settlement based upon the severity of your injuries. This is a right you deserve as a victim, and one that will serve you well so that you truly get the compensation you deserve.
However, what you may not know is that you have a rate to receive part of your settlement or jury award while you wait for your case to settle, through something called pre-settlement funding.
Pre-settlement funding, or settlement loans, is a means by which you are given part of your settlement or jury award upfront by companies that specialize in this type of funding. You don’t have to wait for your case to finish, in other words, to begin to rebuild your life. Instead, you simply request this funding (with your attorney’s full cooperation and permission). Once received, you’ve got the money you need to begin to move forward.
How this funding works
If you’ve got a personal injury case that’s very likely to settle out-of-court or result in jury award, you can apply to receive this funding from a company that specializes in it. You’ll fill out an application with your attorney’s full cooperation and consent; once approved, the company in question will give you a percentage of your expected settlement or jury award, usually about 10% of the expected funds, immediately. There’s no credit check, income verification, or other ordinary hoops to jump through as is true with most loans. Instead, your status as a personal injury victim with a valid case that’s likely to win is all that matters.
Once your case settles, you are expected to pay back the loan plus interest and fees. However – and this is very important – if you lose your case, you don’t need to pay the money back at all. This is the biggest advantage of Mayfield settlement funding. When you’re out of work and hurting, the last thing you need to have as yet another financial hardship if you should happen to lose your case. Because you don’t have to pay back the pre-settlement funding, you can simply put this unfortunate time behind you and move forward, with no further obligation or expense.
When you are injured and involved in a personal injury lawsuit, the thought of settling for an amount less than you deserve may be attractive, simply because you are having a tough time paying the bills. Personal injury loans are designed for these types of situations, and help plaintiffs live comfortably while awaiting full settlement without putting yourself at risk. If you’re not familiar with this process, you will find the following information helpful.
Qualifying is easy. Getting approved for personal injury loans is a fairly easy process. The only information litigation funding companies require is that information which is directly related to your injury, and the circumstances that led to the injury (for instance, a car or slip and fall accident). If your case is solid and likely to be won, you will likely be approved. Additionally, you will not be required to provide personal information regarding your credit rating, employment status, etc.
Get your cash advance immediately. Personal injury loans are really not loans, but a cash advance against the money you expect to win in your lawsuit. If approved, you can get the funds you need to pay medical costs, household bills, attorney fees, and other expenses immediately, usually within 24 hours.
Litigation funding is a non recourse type of funding. What does this mean? It’s simple. If you win your lawsuit, you will repay the advance along with any fees or interest which may apply. However, if your attorney is unsuccessful in winning your case, you owe nothing. Essentially, you are not at any risk – and if your case is lost, you have received “free” money.
Expect about 10% of your anticipated settlement. With personal injury loans, you can expect to be advanced about 10% of your expected settlement if you qualify. This means that if your lawyer filed suit for $100,000, you can expect an advance of about $10,000. This money will help you meet your financial obligations for the duration of the time it takes for your lawsuit to complete, so that you aren’t forced to settle for less than you deserve.
Frivolous cases will not be accepted, and your attorney should have accepted your case on a contingency fee basis. Why? This lets the funding company know your case is viable, otherwise the attorney would not likely have accepted it. Learn more about personal injury loans online, or ask your attorney about litigation funding, and the benefits.
You may have heard of lawsuit loans and are curious as to how they work for those involved in a personal injury lawsuit. Pre-settlement funding, another term for the same process, involves getting a cash advance against your pending settlement. In securing this advance, you are able to continue forward with your lawsuit in order to recover the full damages you deserve, rather than settling for less than you deserve out of financial necessity.
Those who have been injured and who are involved in a personal injury lawsuit often experience financial issues because of the position they have been put in by those who were negligent. You may be unable to work, which results in lost income. Medical treatment for your injuries likely cost a small fortune. In the meantime, it becomes more and more difficult to pay the bills and live as you did before your injuries. With personal injury loans, you can get the cash you need to buy groceries, pay the mortgage, or pay medical expenses now.
Is it hard to qualify for settlement funding? Not at all. Companies that offer lawsuit loans require only that you have a solid case with a strong likelihood of winning in court. In most cases, the fact that you have a personal injury attorney attests to the fact that the case is solid, because most lawyers today will not accept a case that they are not sure can be won. Additionally, you won’t have to subject yourself to an employment or background check, and your credit history makes no difference to whether you qualify for an advance.
Essentially, settlement loans make it possible for you to get a portion of your own money before your lawsuit settles, usually about 10%. To illustrate how it works, suppose your case is valued by your attorney at $250,000. If you qualify for funding, you will receive an advance of about $25,000, usually within 24 hours or less. Imagine what you could do with this amount of money, and the peace of mind you would enjoy knowing the bills can be paid while your lawsuit progresses forward!
With Mayfield Settlement Funding, you do not repay the advance until you have won your lawsuit and recovered compensation. In the event you do not win, you repay absolutely nothing, so there is no risk involved. If this all sounds like the solution to your situation, learn more about personal injury loans now, and the benefits you will enjoy.
Many people who are plaintiffs in a personal injury lawsuit are interested in learning more about pre-settlement funding, what it is, and how it works. Litigation financing is something many injured victims turn to so that they can pay their bills during what is often a long, drawn-out lawsuit instead of settling with the defendant and his/her insurance company for less than they deserve. If you need to learn more about this type of funding, how it works, and who qualifies, keep reading.
Pre-settlement funding is basically a cash advance against a pending lawsuit settlement. Essentially, if you qualify you are getting a portion of your own money, usually about 10% of the amount your attorney filed suit for.
Most who have a strong lawsuit qualify. As long as your lawsuit is strong, your attorney can present documentation that supports your claim, and the funding company doesn’t consider your suit frivolous, you will likely qualify. With litigation financing, all your lawyer needs to demonstrate is that your lawsuit is strong, which can be accomplished through documentation of the accident/event which caused your injuries, and the details of the injuries themselves.
No credit check or employment information required. Unlike with conventional bank loans, your credit score or employment history/status make no difference.
Pre-settlement funding is a non-recourse process, which means you are at no risk financially. What happens if you do not win your lawsuit, how will you repay the advance? With litigation financing, you only repay the funding company if you do win. If for any reason you are not successful in winning your case, you owe nothing – no fees, interest, etc.
No out-of-pocket costs to you. There are no up-front fees or other costs to worry about. In addition, there are no monthly payments – you simply repay the funding company when you win your lawsuit and begin receiving payments, or a lump sum. This way you can avoid going further in debt than you already are.
With pre-settlement funding, you can have the money you need to pay household bills, hospital and doctor bills, attorney fees and more within 24 hours if you qualify! Why settle for less than you deserve from those who were negligent, when you can continue with your lawsuit to get the full damages you are entitled to? Speak with your lawyer to learn more, and get answers to any additional questions you may have.
If you have been the victim of someone else’s negligence and are currently involved in a personal injury lawsuit as the plaintiff, are you struggling to pay your bills? Do you wonder how you’re going to get by until your lawsuit settles or results in a jury award?
If so, you’re in luck. A specific settlement funding option called a lawsuit loan can give you the money you need with no strings attached.
How you qualify for lawsuit loans
Not everyone qualifies for lawsuit loans. To do so, you have to be a plaintiff in a personal injury lawsuit, and that lawsuit has to be likely to settle or result injury award. You must also have hired your lawyer on contingency, meaning that he or she won’t get paid unless you win, and your lawyer must agree that applying for this type of presettlement funding is a good idea.
There are no financial hoops to jump through, no credit reports check, no collateral to provide. Your collateral is in effect your status as a plaintiff in a personal injury lawsuit, with that lawsuit likely to result in some sort of monetary compensation.
How lawsuit loans work
Assuming that you meet the qualifications, you apply for a lawsuit loan through one of the companies that offer these types of litigation financing vehicles. You receive the money, usually about 10% of what is expected to be your jury award or settlement, once you’re approved.
You don’t have to pay the money back unless you win your case
Unlike most types of loans, lawsuit loans won’t saddle you with a debt you’ll have to pay back whether or not you win your case. That creates further hardship for you, and it’s hardship you likely don’t need.
Instead, you’ll be expected to pay back the amount you borrowed once you win your case, plus interest and fees. If you lose, however – and this is very important – you won’t have to pay back anything. These companies are very, very careful when they decide which candidates are qualified to receive this type of settlement funding, so when you’re offered this money, it’s considered a good risk to them that you win your case. If you don’t, they absorb this risk and release you from any financial obligations to them free and clear. Simply get on with life, sure in the knowledge that you’ll have no financial obligations to worry about.
Are you a personal injury victim? Have you been injured as a result of someone else’s negligence, such as in a slip and fall accident? Are you struggling to recover from your injuries, such that paying bills is difficult? Have you been unable to work – or been working only part-time – since the incident?
If the above are true, there’s a type of loan you can get that was created especially for you as a personal injury victim. These loans are called settlement loans, and they’re meant to provide a portion of your expected jury award or settlement while you wait for your case to wend its way through the courts.
How do you apply for settlement loans?
Before you apply for settlement loans, you first have to talk to your lawyer about doing so. You must have hired your lawyer on contingency, and he or she must agree that you can indeed apply for these loans. If your lawyer won’t sign off on the loan, you won’t be able to qualify.
However, if your case is likely to settle out of court or result injury award AND your lawyer agrees that you can apply for one, the next thing to do is to contact a settlement loans company. They’ll review case to make sure it’s valid and verify that your lawyer agrees it’s a good idea to do so. They’ll also make sure your case is likely to result injury award or settlement. With all of those requirements met, you are given the money you need, usually about 10% of the expected final amount once your case is complete.
Is it necessary to pay the money back?
Usually. If, as expected, your case results injury award or settlement, you’ll be expected to pay the money back plus fees and interest. However – and this is important – if you don’t win your case and receive a jury award or it doesn’t settle out of court, you’ll obviously have received no money from your lawsuit as expected. In that case, you owe nothing to the settlement loans company and can simply walk away with no debt from this experience. That’s very different than taking out a traditional loan, which requires collateral and income verification in addition to the requirement that you must pay the money back.
Why worry about money while you wait for your lawsuit to make its way through the courts? Take advantage of a special type of litigation financing called settlement loans – created especially for you – and take care of those financial worries today.
Are you the victim of someone else’s negligence? Have you suffered a personal injury, such that you have filed a personal injury lawsuit against the offending party? Is your case likely to settle or win in court? Are you having difficulty making ends meet while you wait for your lawsuit to complete?
If you’ve answered “yes” to these questions, you may be eligible to apply for something called a lawsuit loan. Lawsuit loans, sometimes also called “personal injury loans,” are loans that in effect let you borrow against your expected jury award or settlement when you are a personal injury lawsuit plaintiff.
How this type of settlement funding works
Applying for lawsuit loans isn’t anything like applying for traditional loans. You don’t need collateral, and your credit history will not be checked. Instead, companies that specialize in this type of litigation financing take a look at the personal injury case you’re involved in, and will determine if it’s likely to settle or result in jury award.
There are a couple of other requirements as well. Your attorney must have been hired on contingency (meaning that he or she will not collect monies from you unless you win your case), and your attorney must agree that applying for lawsuit loans is a good idea. If these requirements are met, the company you’ve applied through will give you a percentage of your expected settlement or award, most often about 10%.
This gives you the money you need to pay bills and other living expenses while you wait for your final settlement or jury award to arrive. When it does, the company will recoup what it lent you, plus fees and expenses.
There’s no risk
The good news is, if you are found eligible for one of these loans and you don’t win your case after all, the litigation financing company involved simply absorbs your lawsuit loan. You don’t have to pay back the money you’ve borrowed. This makes it a much better option for you if you’re already struggling with finances; you can simply dispense with any further worry about the loan and move on with your life.
Don’t wait. These litigation financing companies understand how difficult it is to try to heal from injuries AND continue to pay bills, which can be difficult to impossible if you’re not working right now because of your injuries. You may also have medical bills to pay as a result of your injuries, such that you need money now. Lawsuit loans can provide you the financing you need with no risk and no obligation.
Has this happened to you? You’re going along with your life as usual, working, taking care of your family, paying bills just fine – and then all of a sudden, you find yourself flat on your back and unable to do much of anything, thanks to someone else’s negligence.
Suddenly, life comes screeching to a halt. You can’t work, you can’t pay your bills – and you begin to struggle financially. While not much can be done about your injuries and recovery time, there is a way to receive money while you wait for your personal injury lawsuit to settle or win in court. You can do so through something called lawsuit loans.
What are lawsuit loans through Mayfield Settlement Funding?
Lawsuit loans are a kind of litigation financing whereby you can in effect “borrow against” your expected settlement or jury award in your personal injury case. There are a few requirements you must meet in order to qualify for one of these loans. Number one, you must be the plaintiff in a personal injury lawsuit case that is likely to win or settle out of court. Number two, you must have hired your learner on contingency, meaning that he or she does not get paid unless you win your case. And number three, your lawyer must agree that applying for lawsuit loans is a good idea. If you meet these three requirements, you can qualify for this type of litigation financing.
No collateral, no financial hoops to jump through
Unlike other types of loans, you don’t have to provide collateral – except the proof that you are involved in a valid personal injury lawsuit case that’s likely to win or settle out of court. In effect, your future settlement or jury award is the collateral for this loan.
Money to use for whatever you wish
When you qualify for one of these loans, you can expect to receive about 10% of your future expected jury award or settlement. You can use it to pay bills, or for whatever you wish. When you do win your case or it settles out of court, you’ll pay the company back the money borrowed, plus fees and interest. Importantly, though, if you don’t win, you don’t have to pay the money back at all. That’s right. You are free to go, owing nothing in return for having been loaned this money.
Why wait? Lawsuit loans can give you the money you need to take care of bills so that you don’t have to worry while your case wends its way through the courts. Just focus on recovery and on getting back to normal life.
You may have heard the term ‘lawsuit loans’ on television or seen it in newspapers and wondered about how it works. Unless you are a plaintiff involved in a personal injury lawsuit, you would really have no use for litigation funding. However, if you have been injured and are involved in a lawsuit, you will be very interested to know that lawsuit loans are simply a cash advance against the money you expect to be awarded in a lawsuit. In essence, if you qualify you can get a portion of your settlement now, when you need it most.
When you have been seriously injured, you may be unable to work. Between the added medical expenses and inability to work, bills can pile up and you simply cannot pay them all. It’s stressful, particularly when your injuries are not your own fault and your life has been turned upside down by someone who was negligent. Lawsuit loans help ease the stress by providing you with the money to pay your bills and live normally while waiting for your lawsuit to settle.
How does litigation funding work, and how do you know if you qualify?
Lawsuit loans are granted only to those who qualify, which is really determined on the details of your claim and whether it’s valid. For instance, frivolous lawsuits are not considered. Your attorney will gather the necessary information to submit to the funding company for its review. This information will include the nature of your injuries, how serious they are, medical reports, and the details of the accident or circumstances which caused your injury. If your claim is strong and will likely win, you will probably qualify.
Do you have to pay any money out of your own pocket?
No. With lawsuit loans, you only repay the loan along with any applicable fees and/or interest when you have won your lawsuit and have received compensation. There are no monthly payments, no up-front fees. If for any reason your attorney fails to win your lawsuit, you owe absolutely nothing to the litigation financing company.
How much of an advance can you get if you qualify?
Most company who specialize in lawsuit loans offer an advance of approximately 10% of your expected award. So, if your attorney determines that your case is valued at $350,000, you will likely be advanced about $35,000 if you qualify.
This type of funding is ideal for plaintiffs who find they’re facing financial issues while waiting for their lawsuit to settle, but it isn’t right for everyone. Learn more about litigation funding online, or discuss it further with your attorney to determine if it’s the right option for you.
When you hear the term ‘lawsuit loans,’ it’s natural to think that the process is actually related to a loan. Actually, it is a cash advance given against an expected lawsuit settlement to those who qualify. Essentially, if you have a strong case you may be eligible to receive a portion of your own money early, before your lawsuit completes.
Litigation financing has helped thousands of people pay their bills and live comfortably while waiting for a personal injury lawsuit to settle. Lawsuit loans make it possible to pay medical expenses and household bills, or to catch up on financial obligations so that you can avoid further financial issues or possible bankruptcy. In most cases, funding companies advance about 10% of an expected settlement.
Qualifying for lawsuit loans is easy, as long as you have a strong case. Litigation financing companies usually approve those whose cases are viable and likely to win, but do not accept frivolous or weak cases. The only information required from you and your attorney is that which is directly related to your injuries and the accident or circumstances that caused them. Whether you have bad credit or even no credit makes no difference. Employment verification or background checks are not necessary, either, as the funding company will recoup its money if you do win your lawsuit.
Lawsuit loans are a good solution for many personal injury plaintiffs who need money, simply because there are no up-front costs or fees to make an already difficult financial situation worse. You never repay a dime until you win your case and have control of your money. At that time you will repay the litigation financing company the amount of the advance, as well as any applicable fees or interest. The remaining money is yours to do with whatever you please. In the event you are not successful in winning your lawsuit, you owe nothing.
The process of applying is quick and easy, and if you qualify you can expect to have the money you need in as little as 24 hours. For many who have suffered injuries caused by negligence, settling for what the insurance company offers will not do; however, proceeding forth with a lawsuit is costly. Lawsuit loans allow you to level the playing field, so that you are not forced to accept a low-ball offer from the insurance company and can live normally while your attorney fights for the full compensation you deserve.
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