Lawsuit Loans in Stamford, Connecticut
Accidents are bound to happen wherever and whenever. You can get up without a scratch if you’re lucky. However, most accidents result in injuries. Connecticut protects its residents’ rights, especially those victims of personal injury cases. With the help of lawsuit loans in Stamford, victims strapped for cash can still file a lawsuit claim.
Applying for a lawsuit loan can help you get immediate funds before your case settles. It’s critical to understand what lawsuit loans are before considering these as options. Call us today at (866) 407-6404 to get settlement funding in Stamford, Connecticut.
What is a Lawsuit Loan?
A lawsuit loan comes in several terms. You may know it as settlement funding, legal funding, pre settlement loan, and settlement loan. The settlement loan is a huge help to pay for financial obligations.
The lawsuit loan, a cash advance against a settlement award, is the best option for the injured party. When the case is settled, you are to pay for the settlement loan plus interest and other costs. Several lawsuit funding providers in Stamford, CT, offer similar services.
How Do Settlement Loans Work?
Anyone with a personal injury claim is eligible for presettlement funding. However, you may need to apply for multiple lawsuit loans from several legal funding firms. The lending company typically speaks with your lawyer about the case to assess your claim before giving you the go.
Every lawsuit funding company may have its criteria when picking the case to fund. The approval is not always a sure thing. Even with a strong claim, it’s not a 100% done deal. You may not win, or your lawyer may fail to get better compensation. These are all risks that the legal funding firm takes.
Pros of Lawsuit Loans
Presettlement funding is beneficial for those who depend on the cash advance to pay bills. Legal battles take time. Some claims take months to years. Thus, it may be challenging to get by without presettlement funding.
Negotiate a Better Deal
Furthermore, there are times when your attorney is better equipped to negotiate a good deal the longer the case goes. With pre settlement funding, you won’t be stressed and pressured to accept compensation less than you deserve.
Cons of Settlement Loans
People generally say no to getting settlement loans due to the interest rates. Many pre settlement funding has brutal interest rates that range from 25% to 60%. Compared to the 5% to 35% rate for a personal loan, that’s a lot.
As a result, you may be paying double or triple the amount of your original settlement loan. It is certainly vital to research and check the rates, fees, and other costs of lawsuit loans in every pre settlement funding firm you’re applying to.
Lowest Lawsuit Loan Rates in Connecticut
High Rise Financial is a pre settlement funding provider in Stamford, CT. If you are considering lawsuit loans, then we’re here to help. Above all, we are a reputable firm that’s straightforward in every case we accept. Call us today and see if you’re eligible for funding.