Are you in need of pre settlement funding to finance your daily needs? Are you in need of a sufficient amount of cash to pursue your case? If you answer “yes” in any of the questions, then you might consider getting to know what pre settlement loan is.
What Pre Settlement Loan Means?
Pre settlement funding is no longer unusual these days. After the boom of pre settlement loan companies back in the early 1990s, pre settlement loans have become very common these days. With its existence, many plaintiffs have regained the courage to fight for their rights and to let justice prevail.
Pre settlement loans are arrangements wherein the plaintiff will receive a certain amount of cash from the lawsuit loan company. This amount of cash will soon be repaid after the lawsuit has been closed and won by the plaintiff. Nonetheless, if the plaintiff loses in the legal battle, then it just means that he is no longer obliged to pay the lawsuit loan company anything – not even a penny.
How Much Will Be the Pre Settlement Funding Grant Be?
We all know that every lawsuit, especially those that involve personal injuries, have their own worth. Nonetheless, do not expect that you will get the total amount of your lawsuit’s worth. Remember that your settlement will be divided in three after all. The first third will go to your lawyer who helps you in all the legal matters. The second third will go to your medical bills and other bills that are related to your case. The last part will be yours.
The amount of pre settlement funding that you will get from a legal finance company will be dependent upon the last third that we are talking above. Of course, it will be too risky for the lawsuit loan company to invest an amount that is exactly equivalent to your overall settlement. Nevertheless, rests assured that you will get the amount of cash that you truly need.
The Cases That You Can Apply for a Pre Settlement Funding
Not all cases are covered by a pre-settlement loan. Only some of them can count as eligible for this arrangement. Some of the cases that can qualify for a lawsuit loan are:
- Truck accidents
- Prison cases
- Police misconduct case
- Wrongful discrimination
- Bus accidents
- Trans vagina mesh case
- Property damage case
- 3rd degree burn cases
- Breach of contract cases
Even when your case is not among those cases listed above, do not lose hope. Remember that the cases listed above are just some of the many cases that can count as eligible for a lawsuit loan. It is best to consult the lawsuit loan representative whether your case can qualify or not. It is also smart for you to discuss this with your lawyer. Always keep in mind that your lawyer is your best ally when it comes to matters regarding your legal case. Therefore, it is not risky to trust them.