If you are a claimant or a plaintiff in a lawsuit, you are entitled to receive settlement funds if the judgment is in your favor. Unfortunately, it often takes time before you can receive the settlement funds after the finalization of your case.
Luckily, you can reach out to High Rise Financial for a post-settlement funding lawsuit loan to help meet your financial obligations instead of waiting until your settlement check processes. We are a fully transparent legal fund provider with an impressive track record of providing lawsuit cash advances to plaintiffs.
In This Article
- What Is a Post-Settlement Funding Lawsuit Loan?
- Is Post-Settlement Funding Like Any Other Loan?
- Determining if Post-Settlement Funding Is Right for You
- Settlement Delays
- Crucial Documents for Post-Settlement Funding Application
- Applying for Post-Settlement Funding
- How Long Will It Take to Receive Post-Settlement Funding?
- Utilizing Your Post-Settlement Funding
- Get a Post-Settlement Funding Lawsuit Loan Today
What Is a Post-Settlement Funding Lawsuit Loan?
Post-settlement funding refers to a type of funding offered to people who have already been awarded a settlement but are waiting for the settlement check to process. Unlike a pre-settlement loan, where an individual gets a cash advance while their lawsuit is still pending, this type of funding is available to people whose cases are already over—they have been awarded a settlement but have yet to receive the money.
It can take a long time to receive cash after a case is settled. Post-settlement funding can be helpful if you have pressing bills. It can save you from the financial difficulties you may encounter between the resolution of your case and the receipt of the settlement award.
Also, with post-settlement funding, there’s no need to estimate a potential settlement amount. Instead, you get an amount based on the settlement amount you expect to receive as per the approved dollar figure.
Is Post-Settlement Funding Like Any Other Loan?
Often, people may refer to post-settlement funding as a “settled case lawsuit loan” or simply as a “lawsuit loan.” However, post-settlement funding is not like the typical loans you might apply for in financial institutions.
For starters, post-settlement funding is a non-recourse risk-free loan. There are no monthly payments. The settlement amount awarded is the collateral for the cash advance; thus, the legal funding company repays itself once your settlement check is processed.
So, when you get post-settlement funding, you are securing upfront capital against a forthcoming settlement award.
Determining if Post-Settlement Funding Is Right for You
If your case is settled in your favor, but you are facing financial difficulties and are thus unable to wait until you get your settlement check, post-settlement funding would be a great choice for you. It’s also ideal if you cannot or don’t want to go to a bank for a loan.
If you’re struggling to meet expenses and stay afloat, post-settlement funding can rescue you from the financial fix by offering you cash quickly. It is available for various cases, including:
- Medical malpractice
- Product liability
- Personal injury
- Truck accident
- Car accident
When you win a claim case, it can be a relief to know that you will receive the awarded settlement amount to meet your financial obligations. Unfortunately, it can take some time to actually receive the compensation. Here are some common reasons why your settlement check could be delayed:
- Delays in the claim adjuster’s office. These could range from paperwork to personal reasons that are barring them from getting back to you.
- Liens on the money. If the healthcare facilities that you owe money to request a hold on your money, it may take some time to resolve the lien.
- A bank is preventing the funds from clearing.
Your attorney can help expedite the process, but you can go for post-settlement funding instead of playing the waiting game and enduring the financial pinch.
Crucial Documents for Post-Settlement Funding Application
Applying for post-settlement funding is relatively straightforward. However, you must ensure you have all the required documentation. This includes the following:
- A letter from your attorney confirming the case settlement
- A letter sent to the insurance company by your lawyer detailing the amount they need to pay out
Also, don’t forget to state the amount you are requesting from the legal fund provider for post-settlement funding.
Applying for Post-Settlement Funding
Once you have all the required documentation and choose the right legal funding provider, here’s how to apply for post-settlement funding:
Fill in the Application
Complete the post-settlement funding request form and submit it to the lawsuit loan company for review.
Wait for the Evaluation
A team of funding specialists from the lawsuit law company will review your application. At this point, you must wait to find out whether the team will approve your request.
Get Your Post-Settlement Funding
If the legal funding company approves your post-settlement funding loan application, you can expect to receive the money anytime from there.
How Long Will It Take to Receive Post-Settlement Funding?
It usually does not take long to receive money from the legal fund provider. They understand that you need a quick settlement to take care of immediate bills.
Therefore, once the information regarding your settlement agreement is in order and you have all the details lined up by your lawyer, you can receive the post-settlement funds right away. In fact, once your application gets approval from the lawsuit loan company, you can receive the cash advance as fast as the same day you apply.
Utilizing Your Post-Settlement Funding
A lawsuit loan company won’t restrict or dictate how you use your post-settlement funding. However, it is always smart to use the money on your important expenses. Some of the common expenses you can use your post-settlement funds on include:
- Medical bills
- Rehabilitation expenses
- Loan payments
- Mortgage or rent
- Vehicle bills and repairs
- Groceries and other household necessities
- Daily expenses for your family and children
Get a Post-Settlement Funding Lawsuit Loan Today
If your awarded settlement is taking a long time to be processed, you can get financial help to ease things for you. You can get a post-settlement funding lawsuit loan from High Rise Financial. We process applications in the shortest time possible to ensure you get the money you need to cater to pressing bills.
Contact us today for financial assistance.