What Happens to My Settlement Loan If I Lose My Case?

It’s not uncommon for people involved in legal proceedings to want speedy access to funds to cover immediate financial needs such as medical bills, missed earnings, and more. settlement loan is a great financial resource that can help tremendously during this difficult time. 

Furthermore, pre-settlement funding allows you to immediately acquire the money you need for specific situations while your case is still pending. Physical injuries sustained in an accident are a common reason to seek pre-settlement assistance. Depending on the circumstances, your personal injury claim may take months or even years to resolve. 

However, the wait might be quite lengthy and costly for you and your loved ones. When you succeed in court, though, the fight will seem worthwhile. Pre-settlement funding from a trustworthy firm will provide you with the money you need now and help you avoid any more major financial difficulties until your settlement is finalized.

Do I Need Pre-Settlement Funding?

The expenditures that pile up when you can’t work due to an injury can be devastating. You already have a lot on your plate, so you don’t need to worry about money. A personal injury attorney will also emphasize that the legal procedure is never quick, regardless of the type of case being filed. 

Conversely, insurers will delay paying out claims knowing that you need emergency cash. They want you to settle quickly, even though they know it will result in you and your loved ones getting significantly less money than you deserve. 

While your case is ongoing, you can contact a trustworthy pre-settlement funding company with your case details and get the skilled financial assistance you need. The lawsuit loan company can estimate the value of your case and determine your eligibility for legal funding.

To apply for free, call (877) 735-0016

What Happens to My Settlement Loan If I Lose My Case?

A conventional loan can be obtained but comes with stringent payback requirements. Therefore, you are still responsible for repaying your obligation, whether you win or lose your lawsuit. This might put you in a difficult financial situation, especially if you lose your case.

Conversely, if you get non-recourse pre-settlement funding, you won’t have to worry about that. No repayment of any funds received from a pre-settlement funding company is required in the event of a case loss. Essentially, you only have to repay the lawsuit loan from an agreed portion of your settlement award. 

Hence, if you’ve been injured and are facing overwhelming medical bills and mounting debt, a pre-settlement loan may be your best option.

What If I Receive A Smaller Claim?

Even if you win your case, you might not get as much money as you hoped. You should know that a pre-settlement funding company will only receive a percentage of the estimated payment. You can expect the pre-settlement finance company to be paid out of the financial compensation. Hence, whatever is left over after you repay them is yours to keep. 

However, it is possible that your legal funding provider will advance you a lesser amount than your ultimate payout. If this happens, the funding business will still get paid out of the earnings, though they may not get their whole investment returned. Based on the nature of a lawsuit loan, you are under no obligation or pressure to repay the cash advance if you don’t win your case.

What is The Typical Wait Time for Pre-Settlement Funding?

Additionally, the pre-settlement funding company you choose will always determine whether your application is approved. However, they are aware of your urgent need for cash, so they will likely act swiftly. 

Essentially, many reliable pre-settlement funding companies usually have straightforward application procedures. They’ll take the time to examine the details of your case and work with your attorney to figure everything out. You could receive a check in less than 24 hours or within a few days or weeks. 

However, keep in mind that every situation is different. The wait period may depend on the surrounding circumstances of your case. Regardless, the lawsuit loan company will do their absolute best to help make your funds available to you as quickly as possible.

Complete a Free Application form now

How Much Money Can I Expect To Get From Pre-Settlement Funding?

Keep in mind that the pre-settlement funding provider you choose to work with will advance you money based on the merits of your case and its worth. Simply put, your company will analyze all the information you provide to calculate your case’s viability and the estimated settlement amount. 

In addition, you may benefit from their expertise in this area as they keep you and themselves safe. They want to give you the money, but they also want to make sure that you have an increased chance of winning your claims. Because of this, each individual situation is handled separately. 

Nevertheless, you should expect to get a reasonable amount of the company’s ultimate valuation of your case. The pre-settlement firms’ review of your case will determine this percentage, which will also take into account the expenses of the case, court-related costs, and your attorney’s fees. Most settlements provide enough funds to cover pressing financial needs until you receive your compensation.

Call High Rise Financial for Non-Recourse Lawsuit Funding Today!

If you need immediate funds to cover your living expenses, pay debts, settle bills, and achieve financial stability before your case concludes, you should apply for a non-recourse lawsuit loan. Get in touch with us at High Rise Financial today or call us on (866) 407-6404 to start your legal funding application. 

Call or text (877) 735-0016 or fill out our form to apply today for free.