Qualify for Fullerton Presettlement Funding Today!
Someone’s carelessness and negligence may cause others harm. As a result, one becomes injured and in need of medical attention and other procedures, which he may not be able to afford. A lawsuit helps get the compensation to pay for the mounting bills and other expenses.
However, legal battles in California are complex and lengthy. Often, victims are left strapped for cash and drowning in bills. Thus, the lawsuit loans.
Guide to Lawsuit Loans
Pre settlement loans are also known as legal funding orcash advances for a pending lawsuit. Previous reports show that settlement funding is a growing industry, and about 28% of private lawyers use or suggest presettlement funding for personal injury cases.
Apply for Legal Funding
One of the significant reasons for settlement loans is the financial effect. You are free to use the lawsuit loan fund for the bills and utilities, existing medical and legal fees, daily expenses, insurance, paying off debts, and others.
Pros and Cons of Pre Settlement Funding
Before considering lawsuit funding, you need to know the pros and cons of a pre-settlement loan.
The Good: Settle for more.
Insurance companies typically drag the case to pressure victims to settle for a lesser amount. With the money from the settlement loan, you’re no longer pressed to accept a meager compensation. You are no longer desperate for compensation and negotiate a better offer.
The Good: Build a stronger case.
Lawsuit loans can also help your case. While time is critical for personal injury cases, especially with a two-year statute of limitation, sometimes time can be your ally. New evidence may surface and help your attorney build a stronger case.
The Bad: Settlement loans have high-interest rates.
Pre settlement funding may be expensive due to the interest rate. Once you’ve received the court award, you pay for the settlement loan amount plus the incurred interest rate and other fees.
For instance, taking a $25,000 settlement loan with an average annual interest of 27% to 60% amounts to $12,500 or more every year. Even more so if the lawsuit funding firm offers compounding interest.
Therefore, it’s necessary to shop for the right legal funding firm to apply for settlement loans. Choose a lawsuit loan provider with a 1% to 3% monthly interest rate and not more than 40% annual interest rate.
The Bad: Not all lawsuit loans are approved.
Lawsuit funding firms have strict qualifications for the cases they invest in. If you lose, you can keep the money.
The lawsuit funding company evaluates every case. They only approve lawsuit loan applications where cases are almost a guaranteed win. Some victims have to apply for pre settlement funding multiple times before finding a firm to fund their case.
Apply for a Lawsuit Loan Today
High Rise Financial is a lawsuit loans provider of choice in Fullerton, California. We have a helpful and friendly team of professionals ready to provide the funding you need to help win your case.
Applying for a lawsuit loan can help you get immediate funds before your case settles. Call us today at (866) 407-6404 to get settlement funding in Fullerton, California.