The Advantages that Come With Pre-Settlement Funding
Your whole life can be a mess because of an accident. Also, your finances can be messed with greatly. If you get injured and going to work is something that you cannot do any more then your bills will begin pilling up. Also, many other regular bills that you usually have will start rising. Even though you may make up your mind to look for a personal injury lawyer getting stuck as you wait to conclude the whole legal process can make you stuck. At this point, a pre-settlement funding will prove to be so helpful. This will go a long way in easing your financial challenges as you wait for a legal process to end. Here are a number of benefits associated with pre-settlement funding.
For starters when making an application for a pre-settlement funding your credit score is not a factor to be considered. Contrary to the traditional loans, your credit score is not used as a basis for deciding whether or not you will actually get the funding. Your lawsuit’s detail is the only basis for determining whether or not you will get the funding. To add to that it also determines the amount. If you have a really strong case then there is a high probability of you acquiring the funding.
The second benefit is that with the pre-settlement funding you are in a better position of getting a good lawyer. Too often, most victims see it not fit to undertake legal action. This may be as a result of them seeing that the whole process will take too long. To add, to that the cost of enlisting a lawyer might lead them to do that. With a pre-settlement funding, one can go ahead and get themselves a lawyer. And this is good as it will put you in a better position of winning a case. To add to that you are likely to get a higher settlement.
The other advantage of pre-settlement funding is that paying back the lawsuit advance is not something that you will be required to do. Reason being a lawsuit advance is not similar to a loan, payback is not a rule. Even though you end up being on the losing end of your case. The lender gets payment from your settlement, not you.
To finish with, you are going to obtain your money in a really short time. Loans can take quite a long time before they are approved. However, it is all different for pre-settlement funding since only a short time is required.