Using the word loan to describe lawsuit funding is somewhat dubious. In actuality, this type of financial funding is not a loan at all. If it were a loan, repayment would have to take place, regardless of the outcome.
Legal funding provides a way for you, the plaintiff, to receive cash advances in a non-recourse method against your potential auto accident lawsuit settlement. If you lose your case, you will not owe a penny. This is how it works:
You submit a funding application online or by phone.
A legal funding specialist will then speak with your lawyer about your case.
The legal funding specialist will contact you afterward, usually within 24 hours, with the decision of whether or not we can offer you a cash advance.
Your attorney reviews the funding agreement with you. If agreeable, you both sign.
You receive a lawsuit cash advance.
The Legal Funding Group can help answer any more questions you have about the legal funding process. Our team can easily answer your questions and walk you through the steps to make your life financially easier during the lawsuit period.
How Would a Settlement Loan Benefit Me?
Automobile crashes are the leading cause of injury in the United States, according to the Centers for Disease Control and Prevention. Many auto accident victims suffer such severe injuries and financial damages. In the past, there was very little help for them during the lengthy process of their lawsuits. Legal funding has become a viable option for plaintiffs looking for financial assistance. Injured accident victims can turn to lawsuit cash advances for immediate help and cash relief.
Advance funding for auto accident victims can help the injured get financially secure while their cases get finalized. This method of funding is an innovative tool to assist plaintiffs in covering needs like rent or house payments, utility bills, and other living expenses while their lawsuits are working through the legal system.
Traffic accidents happen in varying degrees of severity, but certain things are fairly common among most of them – the physical, emotional and financial hardships that follow. Family members are also hit with the devastation, anguish, and despair that comes in the aftermath of such a loss.
Most people are not prepared in advance to wait years for a car accident lawsuit to settle. If this is not an option for you either, obtaining advance settlement funding may be exactly what you need. Traditional bank loans may not pan out for a number of reasons. So, a pre-settlement loan could be the only lifeline for many accident victims like you.
Remember that you will not have to repay anything if you do not win your case. Automobile accident lawsuit loans at The Legal Funding Group are 100% risk-free.
Frequently Asked Questions About Car Accident Lawsuit Funding
- How is my qualification for a pre-settlement auto accident loan determined?
If you have been injured in an auto accident and have hired a lawyer, you likely qualify. Most accident injury cases are eligible for pre-settlement funding, including motorcycle accidents, bicycle accidents, and bus accidents.
- How is the amount of cash for which I qualify determined?
Determining the amount of cash for which you qualify is dependent upon the severity and degree of your injury. The amount of pre-settlement advance funds available is based on the potential amount of your settlement. So, the larger your likely settlement, the larger your qualified advance funding amount will be.
- Is my attorney involved in the process?
Absolutely. Once your claim is submitted, The Legal Funding Group will work with your lawyer to see if your legal suit qualifies you for a pre-settlement loan. If so, both you and your attorney will sign the funding agreement. This method assures that you receive the funds with no unnecessary risks.
- Once approved, how long until I receive the funds?
Often, funding is received within 24 hours. There is no guarantee, of course. However, after we talk with your lawyer and determine your qualification for a cash advance, it could be handed to you within 24 hours.
- What type of expenditures do people typically use pre-settlement funds to pay?
There are no requirements for using the funds in any specific way. Some people use the money for medical bills, current debts, legal expenses or house payments. Because the accident injury may have put the victim out of work for a while, the advance funds can mean the difference between having a place to live or being evicted.
- Is there a risk in getting a loan against my injury accident settlement? Does it affect my credit score?
Your credit score is not affected at all by a pre-settlement auto accident cash advance. Equally beneficial is the fact that you will only have to pay back the funds if you recover compensation in your lawsuit. There is no repayment required should you lose.
The long process required for most personal injury suits can have devastating consequences for a plaintiff waiting for a settlement. The financial strain can become a nightmare. Pre-settlement funding can help a plaintiff hold out for more favorable settlement terms rather than caving under the pressure of needing financial help.
- Can a pre-settlement cash advance help me get a larger settlement?
For an accident attorney to get a client the maximum amount of compensation, the lawyer must have sufficient time to effectively pursue and handle all of the specifics of the case. Remember, insurance companies want to hurry the process and force a plaintiff to settle for a low amount of damage compensation. If the client is financially supplemented with a pre-settlement funding advance during this lengthy time period, there is less pressure to take a low settlement quickly.
- Is this type of funding right for me?
Ask yourself if the following issues fit your situation. If they do, you may benefit from car accident pre-settlement funding.
- 1. You’ve been seriously injured in an auto accident and have lost wages from missing work.
- 2. The insurance company is offering minimal compensation for your damages.
- 3. You need immediate financial help that is quick and risk-free.
Contact The Legal Funding Group Today
Call (912)-777-3997 or fill out an online application for approval and financial assistance.