Going to court is not an easy process even if you’re likely to win the case. Civil cases tend to be long and tedious.
You can expect to wait months or even years until a judge completes your case. This is because of the various stages involved in starting a lawsuit.
This is not ideal as living expenses rise quickly, more so when you’re suffering from and are unable to work. There’s something known as a settlement loan that can give you the money you need as you wait for the results of your case. Keep reading to learn why you should get one when you’re stuck in a lengthy case.
1. The Process Is Quick
While lawsuits can drag on for months on end, this is not a situation you will experience when applying to get loans for settlement. One of the best reasons to get a loan is that you will get the money you need quickly.
You can be done with the process of obtaining funds within 1-2 days. Not even the banks will approve at this speed due to their rigorous requirements.
You do not have to deal with any extras with a settlement loan. All you need to do is give a background on your case.
2. There Is No Out-of-Pocket Expense
Other people may resort to getting a personal loan with a bank as they wait on the results of their case. This move isn’t the greatest compared to getting a settlement loan instead.
One problem with this route is that repayment starts not long after you receive the funds. This doesn’t help most people who are already experiencing a loss and need to allocate the money they need.
You may not be able to afford to pay back as you are working on your lawsuit. Banks give no mercy in the event you are late making payments as well. You will not only pay the loan in interest, but you will also have to worry about late fees any time you miss the due date.
With a settlement loan, you do not have to pay anything until your lawsuit is complete. There is no extra work you will have to do on your end either. If you have an attorney working with you, they will deduct the attorney fees you owe.
From there the rest of the money you get from the settlement loan is yours to keep. You get a settlement loan based on the likelihood you will win your case. In the event you do not win the case, you will not owe.
3. You Will Get the Money You Need
The problem with lawsuits is the wait time. While it’s understandable there is data and evidence to collect and present to the court, it’s still frustrating to not have the money you deserve when you need it
A large number of lawsuits involve injury where the plaintiff experienced an accident. An injury can mean one of two things. For one, you may have medical bills you need to pay in the present and potentially in the future. Another issue is that it can cause you to lose work.
Being unemployed short-term or long-term are both situations no one desires as it can leave you in a financial bind. You may be unable to pay bills such as your mortgage or car payment. There’s also a chance you will fall back on paying credit cards or other loans on time which can damage your credit.
Wage-earners may not be able to keep up and struggle to pay those bills, if at all.
You can avoid this scenario with settlement loans to stay on top of your bills and expenses. There’s less of a chance you will default on payments because you will have the funds you need.
4. There’s No Need for a Credit Check
Unlike most loans, you do not need to worry about going through a credit check in order to get a settlement loan. Credit checks are a nightmare for people who are aware their credit score is under the rocks.
There is a sense of defeat for those who are aware credit checks mean you need a certain score to get approved. It’s not good news for those who have decent or good credit either.
Credit checks for a loan mean that the lender will do a hard inquiry on your report. This alone can impact your score and be unwanted for those who don’t want their score dropping. The only “check” a settlement loan lender will ask for is your case.
5. There’s Extra Time to Negotiate
When you are in desperate need of money, you may find that you’re rushing to get any amount to help you out of a financial bind. This means you could be settling for less than what you should be getting, and that isn’t fair for you.
When you get a settlement loan, you will have a calmer state of mind. You are less likely to accept the first offer. You will allow yourself more time to negotiate with the defendant or state your case to get funds that belong to you.
Get Approved for a Settlement Loan as Soon as Today
Getting a settlement loan as you go through a lawsuit can reduce the amount of stress you have, particularly concerning funds. You will receive the compensation you deserve ahead of time before your claim is complete.
This will allow you to breathe easier to pay bills and take care of other important financial matters. You can receive the money in as little as 24 hours when you contact us.
We will evaluate your case at no cost and offer the best rates. Why wait when you can get your money right when you need it?