In a legal case in which a settlement is finalized, the plaintiff receives a check from the defendant. This settlement check covers the amount that the defendant is required to pay the plaintiff. If you receive a lawsuit loan, the settlement check process also involves paying back your pre-settlement funding company.
At High Rise Financial, we are happy to walk you through the settlement check process. For more information about this process and how it relates to lawsuit loans, get in touch with us. We can answer any questions you have about the settlement check process and our pre-settlement funding.
How a Settlement Check Works
If you are the plaintiff in a car accident lawsuit or another type of case that involves a settlement, you are expected to negotiate with a defendant. You and the defendant may come to terms on a settlement agreement outside the courtroom. Or, the court may order the defendant to pay you damages.
Once a settlement agreement is put into place, the defendant in your case may pay you through a settlement check. You should expect this check to arrive within weeks of your case settlement. You can use the check to cover the costs of any damages you incurred relating to your case.
High Rise Financial takes the guesswork out of the settlement check process with lawsuit loans. To get started with pre-settlement funding, reach out to us. We can explain how we automatically deduct the money you owe as part of a lawsuit loan from your settlement.
To apply for free, call (877) 735-0016
How the Settlement Check Process Works If You Receive Pre-Settlement Funding
You can request pre-settlement funding while you are in the middle of a legal case. The funding allows you to cover the costs of your medical bills, housing, and many other expenses. Meanwhile, the funding helps you move forward with your case and puts you in a great position to secure the most damages possible.
If you win or settle your case and previously received pre-settlement funding, your lawsuit loan company takes money from your settlement. In this scenario, your attorney gets your settlement check, deducts the amount you owe your lawsuit loan company, and sends you the remainder of your settlement. You get the rest of the money owed to you, and your lawsuit loan company receives the money you owe as well.
Comparatively, if you lose your case but received a lawsuit loan, you have nothing to worry about. Your attorney notifies your lawsuit loan company about your case result. Next, the company clears your loan balance, and you keep the money that was already given to you.
When to Expect a Settlement Check
Depending on the type of case, it may take months or years to reach the end of your litigation. You may engage in deep negotiations with a defendant. Regardless, you may need the court to decide your lawsuit, and it may take a long time before you can argue your case in front of a judge or jury.
If the defendant is found partly or fully responsible for any damages you incur, you will be awarded compensation. At this point, you should expect a settlement check. In most instances, the defendant will submit a settlement check to your attorney, your lawyer may deduct any legal fees from this check, and you get the remainder.
In cases where you are awarded damages, a defendant is legally required to pay you compensation. The defendant can face additional punishment if they choose not to pay you in accordance with the court’s requirement. After you receive your settlement check, your case is closed.
How You Can Use Your Settlement Check
You have the freedom to use a settlement check however you decide. For many plaintiffs, the settlement check allows them to pay off their medical bills and other fees associated with the harm they incurred. You may utilize your settlement check to stay financially afloat in the years to come.
The settlement amount varies based on the case. You may get a settlement check totaling tens or hundreds of thousands of dollars. No matter how much money you receive, it is crucial to use your settlement funds wisely.
Of course, if you are concerned that you will run out of money in your case before you can get a settlement check, you may want to consider a lawsuit loan. You can seek out a lawsuit loan company that has received many positive client reviews. The company can teach you about pre-settlement loans and help you select a financing option that aligns with your best interests.
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How a Lawsuit Loan Company Can Help You Get the Maximum Settlement Amount
You can request pre-settlement funding so you can focus on what is most important: winning or settling your case. The funding is 100% contingent on your case result. This means you are not required to pay back your lawsuit loan unless you receive a settlement check.
If you want a lawsuit loan, you can submit an application for one without having to share any information about your credit, financial, and employment histories. A lawsuit loan company only asks for information about you and your case. It uses this information to give you a personalized pre-settlement funding quote.
For those who approve a pre-settlement funding quote, you can get the money from your lawsuit loan in as little as 24 hours. You have the ability to use the money you receive in any way you want. At the same time, you can continue with your litigation without having to stress about your finances.
How to Get Started with a Lawsuit Loan as You Negotiate a Settlement
You can apply for pre-settlement funding at any time. To do so, you only need to complete three steps:
- Complete an online application. You can fill out an application in just minutes.
- Get a quote. A lawsuit loan company reviews your application and lets you know how much money you can receive.
- Receive your money. You get the money for your lawsuit loan.
High Rise Financial makes it easy to get pre-settlement funding right away. To learn more, please contact us today.