Suppose you have been injured and have filed a personal injury claim against the person or entity responsible.
In that case, you will want to know about the different options available to you for funding your case, including the lowest cost pre-settlement funding.
This type of funding allows you to use your settlement award as soon as possible and can be of tremendous help when it comes to putting your life back together after an accident that wasn’t your fault.
But what are the benefits of lowest-cost pre-settlement funding, and how does it differ from other types of pre-settlement funding?
Keep reading below to find out!
What is the Lowest Cost of Pre-settlement Funding?
Suppose you’re not familiar with pre-settlement funding, also known as litigation funding. In that case, it is a process where a third party covers any costs that an individual incurs in a legal case, from beginning to end.
The service allows anyone involved in litigation—whether they’re an attorney or plaintiff—to cover these costs without waiting for their settlement.
There are many different types of cases where litigation funding can come into play, but common examples include personal injury and foreclosure.
If you are looking for the lowest-cost pre-settlement funding option available, there are three things you need to consider:
- price and
How Does Pre-settlement Funding Work?
When you’re involved in a personal injury or wrongful death case, you may be entitled to receive a settlement.
To receive your settlement money before your case settles, you must secure a pre-settlement funding company to guarantee that payment in advance.
Here are some of their most common uses:
When you have other debts: If you have outstanding debt or credit card payments, a pre-settlement firm can be used to secure those funds as well, so they don’t affect your claim.
Think of it as paying off your card with another credit card. It is important to pay down all other outstanding bills before applying for funding since you will lose any remaining benefits after your settlement is settled.
What Are The Benefits Of Low-Cost Pre-settlement Funding?
There are numerous benefits for an injured party when it comes to pre-settlement funding.
One of the benefits of receiving compensation for your case is much quicker than waiting for a judgment to be issued by a court.
Depending on how long you wait can affect how much money you actually receive at the end of your case.
The sooner you settle your case, depending on its value, could mean getting more cash in hand than if you waited until after trial or judgment.
So keeping costs low while receiving funding can benefit you by receiving more money in general.
Another reason why anyone should consider the lowest cost pre-settlement funding is that they are available regardless of the state (except few).
Personal Injury Settlement with Low Cost Legal Funding
After an accident, it is common to worry about medical bills, time away from work, and other damages.
If you are looking for funds to pay for your case, some options are available to you. One of these options is pre-settlement funding which allows you to get enough money now while your case is still in progress.
This can help cover those costs so that you don’t have to face a financial burden. In turn, it will allow you to focus on recovering from your injuries instead of worrying about whether or not you’ll be able to afford treatment or pay off creditors.
It will also make settlement negotiations with defendants easier because you’ll be able to present a stronger case and offer higher terms due to having access to more funds right away.
When Can I Get The Cash Advances After Applying?
Typically, after applying for pre-settlement funding you will be eligible to receive your cash advances within 24 hours.
You don’t have to worry about being without money if your lawsuit drags out for a while.
You can use that money to take care of living expenses while waiting for your case to settle. Some companies offer even faster service, allowing customers to pick up their cash advances in as little as one hour!
In many cases, there is no credit check done when you apply, and other companies do not require a deposit at all.
If you want to make sure that you get approved and get cash quickly, then it is best to apply with several companies so that when one doesn’t approve your application, another one will almost instantly.
Get Lowest Cost Pre Settlement Funding Now!
No one likes to think about the worst happening and getting injured in an accident, but if it does, you’ll want to make sure you have the financial resources to deal with it.
Many people buy pre-settlement funding because they don’t want to think about the worst happening, but this can leave them unable to pay their expenses if they become injured or ill and need to pursue legal action.
If you’re injured, can’t work, and need money to pay for medical bills and other expenses before you can settle your case, consider using low cost pre-settlement funding as an easy option.
Sometimes a personal injury lawsuit can take a very long time to settle. There are many reasons for it, but ultimately, it means that your attorneys will have to wait longer for their money.
Some attorneys will seek out low-cost pre-settlement funding to help deal with these issues. This is basically like taking out a loan for you and using it to pay off your case.
By doing so, you save money by not having to pay any interest and there are no credit checks in place either.