Accidents are the number one cause of death nationwide, with over 400,000 claims filed annually and Garden Grove, California is no exception. With rising accidents, California created a legal framework to protect its citizens from other peoples’ recklessness.
The state has a two-year statute of limitation for personal injury cases. Often, victims don’t get the chance to file their claims on time due to financial difficulties—especially those without enough money saved. Thus, the existence of lawsuit loans.
Is Pre Settlement Loan a Good Idea?
It’s unsurprising if you’re unsure whether getting a lawsuit loan is the right choice. After all, it is still a loan with pros and cons. While settlement loans give you the cash you immediately need, these loans are not for everybody.
To apply for free, call (877) 735-0016
The Good: Pre settlement loans are risk-free.
Legal funding firms assess and evaluate personal injury cases daily. They make sound investments and ensure that the case guarantees them a win. Consequently, they don’t approve all the lawsuit loans applications that come through their doors.
In that vein, it’s not you who is taking the risk but the settlement loan firm. You are not paying the lawsuit funding firm anything if the case is not won. That is to say; you are not penalized if you don’t receive any settlement.
The Bad: Lawsuit loans interest rates are high.
All loans have an interest rate, and so are settlement loans. Many pre settlement funding firms have astronomical interest rates ranging between 25% to 60%. As a result, you may find yourself paying double the amount of your legal funding.
It’s essential to do your research and compare quotes. Choose a settlement loan firm with a reasonable interest rate, preferably one that offers a simple flat rate for a lawsuit loan.
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The Good: Lawsuit loans in Garden Grove can help you financially.
The most significant advantage of a settlement loan is the quick cash. Some plaintiffs suffer from injuries that render them unable to work. With presettlement funding, you have the money to pay the bills.
The Bad: Not all qualify for legal funding.
Your application for settlement loans may be declined for several factors. The lawsuit funding firm may find your claim weak and your pieces of evidence lacking and disapprove of your settlement loan application. Pre settlement funding firms typically speak with your lawyer and discuss your case to determine your chances of winning.
You may need to apply for a lawsuit loan many times. You may also need to check out multiple presettlement funding firms to take your case.
Choose the Right Settlement Funding Firm
Garden Cove has several lawsuit funding firms to choose from. They may offer the same services, but not all have the same terms and conditions for their lawsuit loan. It’s crucial to know what you need and seek a pre settlement funding firm that meets your requirements.
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 Garden Grove, CA.