Fund your Case with a Lawsuit Loan
Every citizen in Dayton, Ohio, with a pending or ongoing personal injury case, is eligible to apply for lawsuit loans. Plaintiffs often find themselves in financial constraints after being caught in accidents, medical malpractice, slips and falls, etc.
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 Dayton, Ohio.
Your Basic Guide to Pre Settlements Loans
Lawsuit loans are specifically for victims of personal injury cases awaiting their future settlements. It’s one of the most straightforward solutions for financially challenged people due to its typical three-step application process.
A legal funding firm provides the lawsuit loan, a cash advance from the pending court award. The borrower then pays for the settlement loan plus the interest rate and other fees once the case is settled and won.
How do settlement loans work?
Lawsuits take a long time to settle, and there are associated costs that come along it even before the case is closed. However, if the case isn’t won in your favor, then the lawsuit loan won’t have to be repaid.
Unlike traditional loans where there’s a need for collateral and credit check, lawsuit loans are based on the expected settlement. Stronger cases with higher expected compensations, such as cases requiring long-term treatments, qualify for more legal funding than minor personal injury cases.
How can I spend the pre settlement loan?
There is no limit as to where you can spend the money on. Use the legal funding for all kinds of expenses, for instance: medical bills, legal fees, utility bills, rent/mortgage, insurance, etc. Some victims who can’t work due to their sustained injury use the settlement loan to cover lost wages.
Even if you don’t have an immediate need for the lawsuit funding, you can still apply for it, granted that you have a pending personal injury case.
While many lawsuit funding companies offer similar rates and fees, it’s still critical to compare and leverage quotations to get the lowest interest rate. Here is an essential guide to finding the right firm for you.
Don’t settle for the first presettlement funding company you find. Shop and look around for the firms that offer the lowest interest. Make a top three list and write down their rates and fees.
Let them know that you’re looking and weighing your options. Remember that you are the customer, so negotiate and don’t go for the second-best. Get your presettlement funding from a company that offers the deal you need.
Ask you questions
You have your questions about settlement funding, and that’s understandable. It’s better to have your questions listed and prepared ahead of time.
Ask about their annual fees, interest rates, variable rates, penalties (if there are any), and other concerns you have about pre-settlement funding. Choose a settlement funding firm that is transparent on their rates and additional fees.
The Lawsuit Loans Application Process
Time is critical for personal injury cases. Ohio has a two-year statute of limitation, meaning you need to file your lawsuit before the end. It’s much harder to win your claim if the statute of limitation is reached. Consequently, finding a settlement funding firm to invest in your case is more challenging.
Due to this time limit, settlement loan companies have a three-way process.
- Apply for a pre settlement funding
- Case assessment and evaluation
- Receive the notification of approval and pre settlement funding within 24-hours
Alternatives to Settlement Loans
It’s essential to consider all your options before applying for a lawsuit loan. While settlement loans are beneficial and can be a good safety net for those in need, it’s not your only options. Like other kinds of loans, lawsuit loans also have pros and cons. Ask your lawyer for alternatives available for you.
Apply for a Settlement Loan Today
High Rise Financial offers settlement loans for personal injury plaintiffs. Our goal is to help you take away the stress from financial burdens and give you available funds as quickly as possible. Our team of professionals is always ready to help. Call us today for any questions about lawsuit loan.