Things to consider when comparing lenders After you’ve looked at…
Indianapolis Lawsuit Funding
Lawsuit loans are also known as pre-settlement funding. They are designed to take care of your basic expenses and medical costs until you are able to get the money from your settlement. In many cases, plaintiffs settle the lawsuit quickly because they need the funds. Pre-settlement funding allows you to get cash immediately, so you do not feel pressured to settle early.
Attorneys often recommend lawsuit loans because you do not need to pay anything back if you lose the case. You only have to pay the money back if you win the case.
What the Insurance Company Doesn’t Want You To Know
Insurance companies know that it is not cheap to file a lawsuit. They also know that if you are not working and have a lot of medical bills coming in, then you may be strapped for cash. They know that your expenses are piling up. Insurance companies use this as a weapon against you.
They do their best to drag out the process as long as possible. They know that you will get frustrated and settle early. That is why you should not accept a settlement just because you need the money. A lawsuit loan can help you.
How the Process Works
You will need to apply for lawsuit funding. After you apply for the loan, the lender will get in touch with the attorney. The next thing that we will do is review your case. You can get your funding shortly after if you are approved.
How do Lawsuit Loans Differ From Personal Loans?
Lawsuit loans are not really loans. They are cash advances. Because a lawsuit loan is a cash advance, it does not have to be repaid if you lose your case. However, it will have to be repaid if you win your case.
Traditional loans have to be repaid. They are typically based on your credit and income.
Do I Need a Lawsuit Loan?
One of the reasons that people are reluctant to get a lawsuit loan is because they are worried about what will happen if they lose their case. The good news is that you will not know anything if you lose your case. It is less risky for you to get a lawsuit loan than it is for you to get any other type of loan.
What Can I Use the Funds For?
You can use the funds for anything that you need it for including the following.
- To cover your basic expenses-It can be hard for you to pay your bills if your injured has forced you to cut your working hours or stop working completely.
- To cover your medical expenses-You can use the funds to pay for the expenses that you have now and may incur in the future.
- To cover the cost of repairing your car or buying a new one- Your vehicle is a necessity, and pre-settlement funding can give you the money that you need to get it repaired as soon as possible.
Benefits of Pre-Settlement Funding
Get Your Money Before Your Settlement Ends
Litigation can be a lengthy process. Many people are fortunate enough to be able to get their lawsuit settled within a few months. However, many people will have to wait years for their settlement to be finalized. You do not have years to wait if you have bills to pay. That is why it is best to get pre-settlement funding.
You Can Pay Your Bills
The last thing that you need when you are not working is bills that are piling up. Not only will you have the money to pay your bills but you will also have cash on reserve that you can use in case of an emergency.
No Payments Until You Get Paid
You do not have to make any payments on the loan while you are waiting for your settlement.
Income Verification Not Necessary
Many other loans require that you verify your income. However, income verification is not necessary if you get a lawsuit loan. Lenders know that many people who are waiting for funding do not have a stable source of income.