FAQs on Pre-Settlement Funding, Answered


Purchasing structured settlements

Thousands of people are victims of injuries and disabilities each day as a result of an accident. Many accidents are followed by lawsuits in which the plaintiff has a right to get settlement money now instead of waiting for the verdict of their case. For those considering a cash advance, here are some commonly asked questions regarding lawsuit funding you may fin helpful.

What is pre-settlement lawsuit funding?
Pre settlement loan funding is a cash advance given to a plaintiff to help the emergency and everyday expenses during the litigation process.

Who is eligible?
Plaintiffs who are eligible for pre settlement loan funding are those who are currently involved in a lawsuit usually involving injury or disability, have a lawyer, and are having financial problems because of the injury.

What types of cases qualify for lawsuit funding?
Personal injury lawsuits come in many different forms. These types of cases can be auto accidents, medical malpractice, workers compensation (limited), slip and fall/premises liability, wrongful death, construction accidents, product liability, asbestos mesothelioma, FELA/train accidents, Maritime/Jones Act, dog bites, airplane crashes, spinal cord injuries, traumatic brain injuries, nursing home neglect, and fires and explosions. In all cases, the plaintiff as well as their attorney must be present in court.

Is good credit necessary in order to get lawsuit funding?
Pre settlement loan funding is not dependent on a plaintiff’s credit or employment status. These are not determining factors for deciding whether or not a plaintiff is eligible. The only thing a pre settlement loan company is looking for is the the personal injury case itself and the collateral used for the lawsuit cash advance.

Is lawsuit funding a loan?
Contrary to belief, pre settlement loans are not actually loans. It is simply an advance on the future value of your case. They are different in the fact that a loan must be repaid within a certain amount of time. With a pre settlement loan, it must only be repaid if the plaintiff wins their case. If the case is not won, repayment is not necessary.

Now that you have an idea of what to expect for your upcoming case, you can begin to decide whether or not asking to get cash for your settlement is a good choice. Make sure that you surely cannot afford to manage both your everyday expenses and that of the lawsuit before applying for lawsuit funding. You want to make sure you are making the right decision for your well being.

Leave a Reply