Many people are still not aware of terms such as Pre-Settlement Loans, also known as ‘accident loans’, ‘lawsuit loans’, ‘case loans’ or ‘legal funding’. Pre-Settlement Funding is the type of funding that you receive BEFORE you get your lawsuit settlement.
Understanding Pre-Settlement Lawsuit Loans
Pre-settlement funding or a pre-settlement loan is a type of advance, which you take from a company that provides such type of funding. The purpose of this type of funding is to facilitate plaintiffs who are suffering financially, while they wait for their lawsuit’s outcome.
Even if the plaintiff manages to win the lawsuit, it may be months or even years before the settlement is received. In the meantime, the plaintiff will have to bear with several expenses and even their attorney’s fees. If they are physically injured, they may be out of work as well.
Thus, the plaintiff can opt for a pre-settlement loan to manage in the meantime.
The 5 Benefits of Pre-Settlement Lawsuit Loans
You as a plaintiff can be at an advantage if you choose to get a pre-settlement lawsuit loan. We tell you 5 benefits of opting for a pre-settlement lawsuit loan.
No Approval Process Like in Bank Loans
With bank loans, you have to worry about a long approval process that can linger on for months. They check your credit score and employment history and may perform various kinds of verification.
The procedure for pre-settlement funding can be short enough to get you same day approval and your cash within 24 hours!
You Can Pay for Your Medical Treatments
Many times your medical insurance may not cover all sorts of treatments that you may need. You can use the money from your lawsuit loan to pay for your medical expenses and get the best kind of treatment you deserve.
You Can Spend Your Money As You Like
There may be other payable bills such as rent or utilities. Being physically injured and thus out of work may render you unable to pay your bills.
Lawsuit loans can be used for paying all sorts of bills and managing expenses that you consider necessary, therefore helping you in making ends meet.
There are Near-to-No Interest Rates
You will be charged a very low or almost no interest on your final payable amount. No need to worry about paying double or triple of what you are borrowing.
Lawsuit Loans Are 100% Risk-Free
The biggest factor that worries plaintiffs is that they will have to pay back their loan regardless of the lawsuit’s outcome. Such is not the case as companies do not demand for repayment if you end up losing your lawsuit, and hence your settlement as well.
Reap the Benefits of a Lawsuit Loan
Are you battling a lawsuit? Would you like to gain the benefits of a lawsuit loan as well? You can find out more about settlement loans from DeltaLawsuitLoans.com for your benefit.
