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.