Reasons why you should Consider Borrowing Pre-settlement Funding
Being involved in a car crash is something that will have you spending a lot of money. This is because when you get injured, you may not be able to work and your medical bills will start piling up. You will end up with bills like rent and mortgage that you don’t have money to pay. You may have to wait on the legal process even if you have filed a personal injury lawsuit. In this case, your best option will be to choose pre-settlement funding. Pre-settlement funding can be a great solution that will help you ease any financial strain as you wait for trial to take place. Seeking pre-settlement funding will benefit you in very many ways.
the fact that your credit history will not affect pre-settlement funding is one of the reasons why you should consider. In this case, if you have a bad credit score, your loan application will not be affected in any way. You will still qualify for pre-settlement funding. The only thing you will need to do is provide the details for your lawsuit. These details will be the ones that will determine if you qualify for pre-settlement funding and how much you will get. You will be eligible for funding as long as a strong case.
The fact that you will afford a good lawyer is another reason why you should consider getting pre-settlement funding. A lot of people are involved in accidents, and they don’t pursue any legal action. In this case, you may waste a lot of time because the process will be very lengthy. Hiring a lawyer can be too costly which means you will spend a lot of money. With pre-settlement funding, it will be simple for you to have access to an experienced attorney. The chances of winning your case will be enhanced, and you will get a higher settlement when you hire an attorney.
Another benefit associated with getting pre-settlement funding is that there will be no need for you to pay back a lawsuit advance. A lawsuit advance is not usually a loan. There will be no need to repay it even when you lose your case. You will not have to pay anything because the payment will be received directly from your settlement. Pre-settlement funding lenders are usually willing to take the risk of advancing your money. The fact that you will get the loan money quickly is another reason why you should consider pre-settlement funding. Traditional loans usually take a very long time to be approved and funded. This may not be applicable to pre-settlement funding. Within two days, you will receive the money from your loan application.