It is reasonable after being injured because of the negligence or actions of another to expect to have timely compensation. Unfortunately, unless the case settles in mediation or arbitration, there may be months to years before you will finally receive your fair settlement.
This puts an overwhelming burden on you and your family. This can be even more challenging if the injuries are long term and there are extensive medical bills. It is also very difficult if the injuries or the accident resulted in the death of a loved one as now you are dealing with grieving as well as with trying to manage financially.
Anyone it this position needs to consider lawsuit settlement funding. This is very different from a loan or a line of credit, providing the opportunity for those requiring immediate cash to have access to the settlement prior to the award.
No Credit Check Required
As the lawsuit settlement funding is based on the merits of your case, there is no need to worry if you have poor credit or no credit when you apply. Banks and other traditional lenders will not consider the settlement when approving loans, but non-traditional types of lenders will, particularly if they specialize in pre-settlement funding.
No Immediate Repayment
Once you are approved, which will require the lender talking to your attorney, the amount funded will be transferred to you through the attorney. This allows the attorney to set up the repayment once the award is received.
Maintain Your Home and Lifestyle
With lawsuit settlement funding the money is yours to use as you need. This can allow you to pay off bills, keep current on your mortgage or car note or to use as you require.
For many people, without pre-settlement funding, there is simply no option for finding financing. Talk to your attorney, compare companies and shop for the best rates before you make a choice.
For more information on lawsuit settlement funding, talk to our staff at Loan Query.
