Guide to Legal Funding in Providence
If you’re looking for immediate assistance after an accident in Rhode Island, you should opt for a lawsuit loan. Litigation is a very slow process, often slower than your recovery from injuries. So, while your attorney is dealing with the court proceedings, you can rely on legal funding services to help with monetary needs.
Let us guide you through the basic details of getting presettlement funding in Providence, Rhode Island.
Advantages of Getting Pre Settlement Loans
– Lawsuit loans are non-recourse loans, which means that if you don’t get a settlement from the case, you do not need to repay the borrowed money.
– A settlement loan helps you to pay your current bills while you wait for tomorrow’s compensation.
– Legal funding is legally accepted in Providence. House Bill 5762, officially includes lawsuit loans under anti-usury laws to protect consumers.
– Pre Settlement funding allows plaintiffs to use a portion of their pending proceeds for all financial needs. The money will give you breathing space if your bills are exorbitant to match up with your income. In case of accidents, the medical bills are always on the higher end.
– You can use the lawsuit loan to buy your groceries, pay bills, and monthly expenses to cover your healthcare costs. It does not come with conditional usage.
Who Can Apply for Lawsuit Funding in Providence
- Rhode Island’s citizens who have a lawsuit related to injury still pending
- The person has sustained a traffic accident injury
- All lawsuit loans in Rhode Island must have an attorney to represent them
Here’s How to Apply for a Settlement Loan?
Most legal funding services follow a hassle-free 3 to 4 step procedure to give settlement loans. The basic steps are:
- Approach reliable pre settlement loan services and fill out a form online stating your details and contact number.
- Loan specialists will review your application and will contact your attorney to discuss the case to determine whether you qualify for settlement funding.
- There will be a discussion among the attorneys to discuss the amount of compensation you are likely to get.
- Once the details of your case are verified and approved, you will get the money credited to your bank account.
To Sum Up
If you have sustained major injuries in an accident, you are likely to take time off your work. But the bills don’t stop. Your employment status is not necessarily a criterion to get this funding. Keeping up with a job gets difficult when you are fighting a lawsuit. You can take time off work and also not drown in debt. In case you do not win the settlement, you do not have to repay the amount used, making it a risk-free loan.