Get Your Legal Funding in Rialto, CA Today!
Residents of Rialto may fall victim to personal injury cases either due to traffic accidents, medical malpractice, and others. They need to file a lawsuit against the negligent party in that instance.
However, this is a lengthy and expensive process. Some people decide not to pursue a case due to financial constraints. Thus, the importance of pre settlement loans. High Rise Financial offers lawsuit loans to help victims get fair trials and compensation.
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 Rialto, California.
What is a Lawsuit Loan?
Lawsuit loans are cash advances for personal injury victims in Rialto, CA. These kinds of cases take up the majority of court litigations in the country and federal court systems. Therefore, it is no longer surprising why more and more people are applying for settlement loans in the city.
Lawsuit loans also come in different terms. For example, pre settlement loan, settlement funding, legal funding, or presettlement funding. It is a process whereby plaintiffs, and even law firms, can finance their lawsuits and other costs through the help of a lawsuit funding company.
The lawsuit funding firm offers a non-recourse cash advance for a percentage share of the future settlement. It’s a relatively new loan option, and hence no regulations are made yet. However, it’s increasingly popular because of how fast the process is.
The Settlement Loan Process
Legal funding firms typically have a three-step process for settlement loans. Check out the process below.
Fill out the presettlement funding application. Provide the contact details of your attorney. The firm will reach out and discuss the case. Credit history, personal finances, and other things are not necessary.
Wait for the notification. Pre settlement funding specialists assess your case and determine the right settlement funding amount to give you. You are notified of approval within 24-hours.
Receive your funding. Review the contract and read all the details, including the fees and other costs.
Should You Get a Lawsuit Loan?
If you are in the middle of a personal injury lawsuit, then a pre settlement funding is a viable option. Legal battles take time and can be expensive. Many victims struggle to pay for the bills, medical and legal fees, insurance, rent/mortgage, tuition, etc. The settlement loan money is yours to spend.
If you find yourself in the same predicament, then a settlement loan is a reasonable option. However, there are still other alternatives to lawsuit loans. So, it’s best to do your research before deciding whether you need it.
Pros and Cons of Lawsuit Loans
Getting pre settlement funding comes with pros and cons.
The good: fair trial
Often, insurance companies stretch the legal battle. Plaintiffs are pressured to settle for an unfair amount. With a settlement loan, you can provide an immediate solution to your financial woes.
The bad: High-interest rate
Settlement funding firms have an astronomical interest rate. As a result, you may pay double or triple the original settlement loan amount.
How do I pay for my presettlement funding?
Since it’s a non-recourse loan, you won’t have to pay it. The loan is only paid if you win the case. In addition, your lawyer handles the loan repayment process. After the legal fees and loan amount payment, the rest goes to you.
Apply for settlement funding at High Rise Financial today.