If your lawsuit is sitting stagnant, you may find yourself frustrated with the long wait. If you want your settlement payout early, a lawsuit cash advance loan might be the best and easiest way to get your money in your hands within days.
Lawsuit cash advance loans—also known as pre-settlement funding or lawsuit loans—are designed to let you get paid long before your case ever sees the inside of a courtroom. When faced with mounting bills and reduced income, many plaintiffs choose to borrow against the monetary award they expect to win at the culmination of their case. Basically, to answer the question of how to get some much-needed funding immediately, lawsuit cash advance loans may provide the answer.
Here are ten reasons a lawsuit cash advance loan may be right for you:
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1. You can’t keep up with expenses
The number one reason people take out lawsuit cash advance loans is to pay their bills. Rent, mortgage, medical expenses, school tuition, credit cards… whatever financial obligations you may have, the fact is, they need to be met. When your bank account isn’t as flush as you need it to be and the creditors are banging down your door, the lack of funds can be a huge source of stress. Lawsuit cash advance loans allow you to lessen your economic burdens and simply live your life. Take a fun online class. Buy that new television. Redecorate the bedroom. Whatever you want to use the money for, you can. It’s your money, after all.
If you’re having some trouble maintaining your expenses and would like to ease the anxiety that comes with it, or if you simply want to indulge in a few of the finer things life has to offer, a lawsuit cash advance loan may be the best move you could make. It’s up to you to decide if obtaining some extra money is important to your needs at this time.
2. You’d like to get your money now without having to wait
The legal process can move at a snail’s pace sometimes, and many plaintiffs have not considered the economic stresses they will incur as they wait for their cases to conclude in order to collect their settlement money. Your lawsuit may drag on for months or even years as your bank account takes a hit. If you’re wondering how you can survive until your case makes it to trial, it may be time to look into what lawsuit cash advance loans can do for you.
With the added detriment of coronavirus / COVID-19 causing even further delays within the legal system, the courts are even more backlogged than usual. Taking out even a small lawsuit cash advance loan against your anticipated settlement money is a great way to relieve your financial strain until your case finally makes it to trial. Lawsuit cash advance loans are becoming a very popular option for plaintiffs who want cash now but don’t want to wait around indefinitely
3. You’re injured and/or out of work
If the reason you filed suit was that you were injured, medical bills are yet another added expense. Maybe your injuries even prevent you from working. Or maybe you have no income because you were the victim of wrongful termination. Or maybe you can work, but now you find yourself unemployed and/or dealing with a lower salary from coronavirus / COVID-19 related closures.
Whatever the reason, lawsuit cash advance loans can really help you balance your budget when you suddenly find yourself dealing with lessened income. Even if you have a case that you are practically certain to win, it can take a significant amount of time for a lawsuit to reach a settlement. Waiting for that check can put an enormous financial burden on an injured victim and their family.
4. Funding companies want to help you
Whether you’re the victim in a personal injury lawsuit, medical malpractice, or even property damage, you’ve made the decision to file a lawsuit. Maybe you experienced racial discrimination or sexual harassment at your job and were terminated because you spoke out. Maybe you were in a car or truck accident that wasn’t your fault. No matter the reason behind your lawsuit, you’ve been harmed in some way and you decided to take it to the courts.
Even if you’re sure you’ve got a winning argument, you still need to wade through the time-consuming legal process in order to get your justice. But lawsuit cash advance loans were designed for this very reason, and funding companies were created in order to assist you in your quest for financial peace of mind. Lawsuit funding companies are on your side. They want you to get the presettlement money you have coming to you in the quickest way possible.
If you decide to proceed with a lawsuit cash advance loan, you’ll want to do your research. Find out which funding company will best suit your needs, then give them a phone call and ask some questions. There’s no commitment just to speak with a funding company, and no obligation to fill out an application. But if all goes well, the funding company will ask you to fill out their application.
The process to obtain lawsuit cash advance loans is quick, easy, and most importantly, transparent. If it turns out you don’t like any particular terms, you can simply deny the loan and move on to a different funder, or decide not to take out settlement money at all.
5. Free to apply
If you do your homework, you can find a funding company that won’t charge you to apply. In fact, if the company is reputable, there won’t be any costs in advance. There should be no application fees, origination fees, or any other kind of fabricated processing fee while applying for lawsuit cash advance loans. “Extras” such as the ones mentioned above can cost hundreds of dollars, but a reputable funding firm won’t expect any money upfront for your lawsuit cash advance loan. Your application should be reviewed for free, and any payback fees should be lain out clearly in your contract before you sign.
This is why you should absolutely speak to your lawyer. He or she can help you with the process if you ask their advice, plus it’s never a bad thing to take your legal counsel under consideration while seeking out lawsuit cash advance loans.
6. Chances are pretty high that you’ll be approved
Funding companies have all sorts of different criteria when it comes to qualifying for lawsuit cash advance loans, but normally, you’ll need to have already secured an attorney who will be representing you and who has already filed your lawsuit with the courts. Even if your lawsuit has already reached a settlement agreement and you’re simply waiting to receive your payout, some companies may still approve you for a lawsuit cash advance loan.
The most important factor that funding companies take into consideration? That your case has merit. Cases that show clear fault on the defendant or clear injuries to the plaintiff will be approved for lawsuit cash advance loans. Defendants must also have good insurance to ensure someone will pay for the damage they caused to the plaintiff. That’s really all it comes down to.
Not every case will be approved, but plaintiffs have been awarded settlement money for lawsuits of every kind. A good lawsuit funding company will find a way to get you the money you desperately need.
7. Better than a bank loan
Lawsuit cash advance loans aren’t like bank loans, with some very important differences between the two. If you are looking for a way to obtain money to help pay the bills, the last thing you’d want to do is add to your debt. Bank loans do exactly that, whereas lawsuit cash advance loans are non-recourse.
Non-recourse means you don’t have to pay back the lawsuit money if you lose your case. There is no recourse from the funding company if your lawsuit ultimately fails, meaning that the funding company won’t come knocking on your door looking for money you never received. No monthly payments; no interest fees. No harassing phone calls; no payback.
This is part of the risk that funding companies will assume in providing lawsuit cash advance loans ahead of your case’s resolution. With a bank loan, the borrower has to have extensive collateral, an acceptable credit rating, and be prepared to incur fees and interest charges. Since lawsuit cash advance loans require a different set of criteria, credit approval isn’t needed to qualify. Settlement funding is based entirely on the merits of the case, and nothing else.
Unlike a bank, lawsuit cash advance loans are a no-risk proposition for the consumer and can provide financial relief in your time of need.
8. Lawsuit cash advance loans buy you time to hold out for a bigger settlement
If you’ve filed suit against a large company, they most likely have deeper pockets than you do. With extensive resources, they can afford to drag a lawsuit through the courts for years hoping that you will simply run out of money and drop your case. Lawsuit cash advance loans can provide the financial boost needed to continue to seek justice, rather than accept a defendant’s paltry settlement offer.
Instead of settling your claim at a bargain-basement price just to get a quick payout, you can take out a lawsuit cash advance loan today, enabling you to hold out for a larger payout down the line at the culmination of your case. Basically, it’s possible for lawsuit cash advance loans to pay for themself.
9. It’s quick and easy
Lawsuit cash advance loans are pretty simple. The first step will be to talk to your lawyer about it. He or she will then help you to research the best funding company that will suit your needs. Next, you’ll contact the chosen funding company, ask some questions, and fill out an application.
Funders will ask for your basic contact information, the type of case you’re litigating, and the name and phone number of your attorney. Then it’s a simple matter of the funding company reaching out to your lawyer for further information. Once the funders review your case, they can determine if your lawsuit has merit. If so, your loan will be approved, and you can expect to have your settlement money in your hands within 24-48 hours.
10. Peace of mind
Saving the best for last! Lawsuit cash advance loans are a fantastic resource for plaintiffs to get the money they have coming to them. It is an immense relief when you don’t have to stress over the pile of bills on the kitchen counter or when you know your medical costs will be taken care of, and to feel confident that you’ll be covered should any unforeseen expenses pop up. Even just seeing that extra cash in your bank account is enough to offer some peace of mind.
Seeing as pre-settlement funding is essentially your money anyway, shouldn’t you be the one to decide when you receive it? Why should your finances have to suffer because of conditions you never asked for nor were you given any control over? Taking out a lawsuit cash advance loan can get your cash into your hands sooner rather than later, and provide not only financial but emotional relief.
Legal-Bay Is Here For You
Legal-Bay has been in this business for a long time. We have been ranked as one of the best lawsuit companies out there for a while on several review sites. We have received these 5-star reviews due to our focus on customer service and dedication to solving problems for our clients and prospective clients. We review almost every case type from car accidents to commercial litigations to verdict on appeal cases. We’ll be happy to speak with you and answer any lingering questions you may have about lawsuit cash advance loans. Please feel free to contact us for more information.
