What is an asset based loan? An asset-based business line…
Utah Lawsuit Funding
Being injured in an accident is difficult enough, but to have to wait for the financial compensation that is rightfully due you is almost more than you can bear. Utah is a wonderful state to live and thrive in, but you need to have access to a financially independent existence in order to do so. This cannot happen if you have been injured or assaulted and are temporarily unable to provide for yourself and your family. While you have an attorney who is working on your claim, a final resolution cannot come quickly enough. This is why you need to consider applying for a Utah lawsuit loan.
The Benefits of a Lawsuit Loan
When you need access to money to make ends meet, you may look to personal loans to help bridge the gap. The problem with this is not only do these tend to come with unfavorable terms, but they also require monthly payments. Those are hard to make if you are not even able to work. With a Utah lawsuit loan, you get access to up to 15 percent of your anticipated claim amount. That is real cash that you can put to use today. You will not need to make monthly payments on this money, nor are there any upfront fees to worry about paying. In fact, the money is not even paid back to the lender until your claim is settled once and for all in your favor.
This is a no-risk loan. That means that you get the money today if approved. If your case is somehow decided against you, then you will pay nothing. You will still keep the money if something that unlikely were to occur. In essence, this is not even really a loan. It is an advance on funds that are coming your way in the future. This becomes money you can live off of today, knowing that you have access to even more as soon as your claim comes out in your favor. This is unlike any other type of loan you can get today.
The Initial Steps
If you would like to pursue a Utah lawsuit loan, there are just a few things you should know first to determine if you qualify. To begin, you need to already have a lawyer working on your claim. This attorney needs to be doing the work on a contingency only basis. This means that he or she will not be paid unless your claim is resolved in your favor, similar to the terms that you will be getting with pre-settlement funding. You will also need to have a case that qualifies, but more on that in a moment.
The lender will speak to your attorney to discuss your case. This is really all there is to the application process. Your credit or employment history do not even enter into the equation as it does with traditional types of loans. Once the lender finds out more about your case, a determination will be made as to whether or not you meet the criteria to get a Utah lawsuit loan. If approved, you can have the funding that you need in a matter of hours. It can even be wired or directly deposited into your bank account if you so desire.
Types of Cases That Qualify
There are many types of legal cases that will qualify you for this type of loan. Auto accidents are the most commonly cited example. If you have been injured as the result of an accident that was the fault of an insured party, you are almost certainly entitled to financial compensation. This can take time to work out, so a lawsuit loan can help make up the difference in the interim. Other types of cases that qualify will include assault and battery cases, incidences of medical malpractice, FELA lawsuits, and claims made against a company due to an accident such as a slip and fall.
If you are in need of money today because your legal claim still has not been resolved, you need to contact Delancey Street. They will be happy to discuss the entire process with you and answer any questions that you might have.