What is an asset based loan? An asset-based business line…
Virginia Lawsuit Funding
If you are involved in a claim against an insured party as a result of injury or negligence, you know that the money cannot come fast enough. You have bills that need to be paid, and you may not even have been able to return to work since the incident. It is an injustice that nobody should have to go through, as it is not even your fault. This is why pre-settlement funding by way of a lawsuit loan could just be your way out. This is an easy and quick way of getting access to the money that you are rightfully entitled to and need.
Not Your Ordinary Type of Loan
A Virginia lawsuit loan is unlike your typical form of financing where you must pay back to money with cash that you still need to make in the future. You already have the money in the form of the claim that the lender is sure you will win at some point. This makes the loan risk free. In the event that your claim is not settled in your favor, you will not even have to pay back the money. When you do finally get your settlement, the loan will just be paid back using that money. It is a simple concept that gets you the money you need now.
The Process To Get Funding
It is not that difficult to get the money that you request. There is no credit check. Delancey Street will just need to talk to your attorney to get more specific information about the case. As long as it appears that you will eventually be awarded a financial settlement, the money could be in your bank account in just a few hours. You will just need to have an attorney on record who has taken the case on a contingency basis. In addition, it is important that the claim is against an insured party or an entity that is self-insured such as a governmental agency or a business.
There are many examples that can be cited of how lawsuit loans benefit Virginia residents. Imagine that you are the victim of a medical malpractice claim. You went into a healthcare facility expecting one outcome, and you ended up with something entirely counter to what you were anticipating. As a result, you now have other complications that have kept you away from work. All the while, your medical bills continue to pile up. You have an almost certain financial claim against the healthcare provider, but these cases are notoriously slow in being resolved. Rather than waiting around for a final judgment to be rendered, you could get funding for up to 15 percent the anticipated value of your claim. This is real cash that can begin to benefit you and your family today.
The Funding Process
As mentioned, you can request up to 15 percent of the amount of your claim. You should not look at this as a loan. It is money that is rightfully yours. You will eventually get it, but this is just a way to give you access to some of it right away. The loan is funded via bank deposit, wire transfer, or check. In many cases, you can receive the money in as little as an hour after the lender talks to your attorney. You will not pay back the money until the claim is finalized. At that point, the lender will get their money back plus agreed upon interest. Rates do vary depending on the type of funding, so make sure that you check with the lender about that first.
Other Types of Cases
In addition to medical malpractice cases, you can qualify for a lawsuit loan in Virginia if you have been involved in an automobile accident or some other type of personal injury case. FEL lawsuits also apply, as do issues involving premises liability. If you have been the victim of assault and battery, including police brutality, you may be approved for pre-settlement funding as well.
To learn more about this exciting lawsuit loan possibility, contact Delancey Street. They will be happy to go over all of the details with you and get the application process started.