Legal Funding in Rancho Cucamonga
Are you a victim of personal injury in Rancho Cucamonga, California? Then, you’re not alone. Know that you have rights and you are well protected. Even when you don’t have the financial ability to pay for expenses like legal fees, piling medical bills, and daily living expenses, you can still file a lawsuit claim using a pre settlement loan.
Lawsuit loans are legal in California. You can make a cash advance against your future settlement. The statute of limitation in California is two years. You need to file your lawsuit two years from the date of the accident.
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 Rancho Cucamonga.
What is a Settlement Loan?
Many consider settlement loans a quick and easy solution, especially for those in the middle of a personal injury suit. The settlement loan is a cash advance for pending compensation. It is paid once the case is won.
However, there are instances where plaintiffs pay almost double their pre settlement loans due to the high-interest rates. That being said, it is critical to pick the right firm that provides loans at a lower interest rate.
Lawsuit Loan vs. Legal Funding
Although these terms are used interchangeably, they still have differences. Lawsuit loan firms typically check for the borrower’s credit score. On the other hand, a legal funding firm doesn’t need to check for credit worthiness since they base their assessment on the validity of your claim.
Some companies offer both options to plaintiffs. Despite the different terms, both options can help you recover financially. It’s important to know what you need and ask for legal advice before seeking a settlement loan.
Are Lawsuit Loans Worth it?
Like other kinds of loans, lawsuit loans also have upsides and downsides. Consider the following.
Advantages of presettlement funding
Not everyone in Rancho Cucamonga can easily afford the expenses during a legal battle. All the more, if you’re unable to work due to injuries and other damages. Use the money to pay for the bills and other daily expenses. You don’t have to pay it back right away or even monthly. You can pay for it when you’re awarded the settlement fee.
Another advantage of lawsuit loans is that it takes away the financial burden and pressure. There’s no pressure in accepting compensation less than you deserve. With enough funds, you won’t have to cave in when the other party is trying to lengthen the case.
Disadvantages of presettlement funding
Know that lawsuit funding can be expensive. Settlement loans firms want to profit, hence the contract’s high compounding interest rates and hidden fees.
It is critical to shop around for a reputable lawsuit funding firm and compare quotes before choosing where you want to apply for pre settlement funding.
Not all applications are accepted. Pre settlement funding firms are picky and only choose cases with the highest probability of winning. They’ll check for the validity of your claim, the evidence of negligence from the other party, and their ability to pay for the settlement.
Pre settlement funding firms take measured risks. Without these criteria, lawsuit loan applications are denied. Settlement loans are also new, and there are government regulations to protect you from dishonest lenders. Know your options before getting a settlement loan.
Do You Need a Lawsuit Loan?
High Rise Financial is a trusted funding provider in Rancho Cucamonga. Our team is ready to help you understand more about it, how you’ll qualify, and how much it will cost you.