Lawsuit loans often get a bad rap, but they’re actually a no-risk solution for plaintiffs who are involved in a personal injury lawsuit and need money to pay bills right away. Until you are involved in an accident and are injured, you never quite realize the enormous expense you may face as a result of your injuries. When it becomes impossible to pay the medical expenses, household bills and other costs, litigation funding is a possible solution you may want to consider.
Being injured can impact your financial situation much more than you realize. Not only are medical costs higher than ever before, if you cannot work because of your injuries your income is reduced. Depending on the nature of your injuries, you may be unable to work for several weeks, months or even longer. However, your creditors still expect to receive payment. Lawsuit loans let your pay your financial obligations and keep creditors at bay.
Not only are lawsuit loans advantageous to you, these loans also help your attorney when he/she needs the financial resources to build a strong case on your behalf. Litigation funding is actually not a loan, but more of a cash advance against your pending settlement. You only repay the advance if you do win your lawsuit, along with minimal fees and interest; in the event you do not win, you owe absolutely nothing. One way of looking at settlement funding is that if you should be approved for a loan and then do not win your lawsuit, you have free money!
Qualifying is easy, as long as your lawsuit is a strong one and not frivolous. The documentation necessary includes details only about your lawsuit, the accident and injuries you suffered, nothing else. You will not need to provide personal information regarding credit rating, employment status or anything else of that nature. In most cases, if approved you will have your advance within 24 hours, often the same day.
Being injured is stressful enough, and changes your life in more ways than you can imagine. Why face possible bankruptcy because you cannot pay your bills, or settle for far less than you deserve from the insurance company? With lawsuit loans, you can continue forward with your lawsuit no matter how long it takes, so that your attorney can work to secure the full compensation you deserve. Speak with your lawyer about litigation funding today. It could be the financial relief you’ve been looking for, so that you can live comfortably for the duration of your lawsuit. Contact Mayfield Lawsuit Loans for more information today.