All across the country, plaintiffs who are low on cash are taking advantage of pre-settlement loans to keep themselves afloat financially until their lawsuits are completed.
Sadly, the mass media is not covering such a beneficial topic, allowing misinformation to abound. This lack of honest facts gives rise to the opportunity for unsuspecting plaintiffs to be misled and misused.
The service, also called legal funding can help plaintiffs suffering from difficult financial situations find a way to pay for bills caused by an accident. The best way to get the most advantageous cash advance on a pending lawsuit is to find out the details of the process before submitting an application anywhere.
The information provided here is designed to help you:
Get the largest amount of cash for your lawsuit
Get the funds as quickly as possible
Get the lowest possible interest rate
Get a pre-settlement cash advance without upsetting your attorney
Information About Getting a Cash Advance on Your Pending Lawsuit
Without the proper knowledge, it can be somewhat tricky or misleading for beginners in getting a lawsuit loan. The information in this article is meant to help plaintiffs get the best possible deal when applying for a pre-settlement loan. Smart decisions can make the difference in paying an interest rate of 150% or a rate of 35%.
Facts & Tips You Should Know
FACT 1 – Some companies are not forthcoming when giving details of their lawsuit loan costs.
TIP 1 – Remember to ask how much the interest rate is. If a company’s rate is overly high, the company representatives are not likely to openly and willingly offer information about it. When you call a company, ask them right off the bat, “What do you charge?” If you get no direct answer in response, be wary.
FACT 2 – Applying with a broker instead of a direct pre-settlement loan company can be very expensive, slow, and may tend to aggravate your attorney.
TIP 2 – Brokers may add an additional 15-20% cost to your pre-settlement cash advance. In addition, they may give your case information to other funding companies that could start calling your attorney with swarms of phone calls. This type of action can have very negative consequences for your lawyer.
FACT 3 – Your attorney’s office will respond to a lawsuit funding company quicker if you notify the law firm to expect contact from a specific company.
TIP 3 – Inform your lawyer that you will be applying for a cash advance lawsuit loan. By doing so, you can help your legal team prepare for document requests from the funding company. The entire procedure will happen between your lawyer’s office and the company.
FACT 4 – It may be tough to find the right company.
TIP 4 – Consult with your attorney to find out any pre-settlement cash advance companies that he or she would recommend using. No need to look elsewhere if there’s already a working relationship going. However, even if your attorney’s office works with a particular funding group, research to determine if it’s the right company for your needs.
FACT 5 – The more information you can give the funding company, the fewer questions your lawyer will need to answer.
TIP 5 – Go over all the basic facts before you call to apply, because each question you are able to answer means one less question that your lawyer needs to spend time answering.
FACT 6 – The funding company will only be able to move as quickly as they receive case documents from your attorney. Because law firms are notoriously busy, this process may take time.
TIP 6 – To speed up the process, gather the following information from the law firm before completing the legal funding application: the filed complaint, key medical documents, the demand letter, and the police report if yours is a personal injury case. These general documents would be requested by the funding company shortly, and if you are able to supply them up front, this step will have already been completed.
FACT 7 – The loan amount for which you qualify is 10-20% of your lawsuit’s full monetary value.
TIP 7 – Before you apply, get the estimated value of your lawsuit from your lawyer. By doing this, you can help prepare yourself for a realistic amount from a pre-settlement loan. In addition, you will better be able to manage expenses if you know the amount in advance.
FACT 8 – Pre-settlement advances can be expensive.
TIP 8 – Once you find the right funding company with low rates, take only the amount of funds you will truly need to get by financially. Granted, the money belongs to you; however, it is wise to only use the funds for living expenses and necessities.
In the Market for a Pending Settlement Loan? The Legal Funding Group Can Help.
The Legal Funding Group provides settlement loans to plaintiffs nationwide. Other companies may hide details, but we are openly transparent. Our company has helped countless plaintiffs acquire loans against their pending lawsuits. We provide funding in cases like:
- Auto accidents
- Medical malpractice
- Product liability
- Personal injury
- Premises liability
- Workplace injury
Apply For Legal Funding Today
Lawsuit loans are for injured plaintiffs who need financial help before their cases are settled. Individuals who may want to apply are those who truly can’t make it financially during the long legal process.
If your lawsuit is ongoing and bills are piling up, contact The Legal Funding Group at (912)-777-3997 or apply online.