Hampton Lawsuit Loans
High Rise Financial is Virginia’s agency of choice when it comes to pre settlement loans. Personal injury is serious and has to be dealt with accordingly. It may be medical malpractice, car accidents, slip and fall, and others.
There are several cases in Virginia where plaintiffs received over a million dollars for compensation. Still, it may be challenging to be financially stable during the trial. This is where legal funding comes into play. The lawsuit loan is your cash advance against the compensation.
The money can help you get by, pay for day-to-day expenses, support the family, pay rent/mortgage, and others. Applying for a lawsuit loan can help you get immediate funds before your case settles. Call us today to get settlement funding in Hampton.
Settlement Loans and Personal Injury Statistics in Virginia
Like lawsuit loans, personal injury cases may be difficult to understand especially if you’re not familiar with the legal system. You need to follow the rules and deadlines; failure to do so may mean your case. You won’t be eligible for a settlement loan without a case and a lawyer. Time is critical in lawsuits. Victims should file as quickly as possible to avoid losing any evidence to help their case.
How Do Lawsuit Loans Work?
Lawsuit loans let you access your compensation before your case is settled. Others refer to lawsuit loans as legal funding. Personal injury cases can take months or years until you receive a payout. The lawsuit loan acts as a cushion until you’re well enough to work again.
You apply for a lawsuit loan from a presettlement funding company. The company then gives you the cash advance, a portion of your compensation ahead. The claimant gets the lump sum or the lawsuit funding and can spend it on whatever is necessary. When the case is settled and won, the presettlement funding company is paid for the lawsuit loan plus the incurred interest, if there’s any.
Lawsuit Loan Requirements
Approvals for a settlement loan aren’t dependent on the credit score but the strength of the plaintiff’s case. This is an investment for the settlement funding companies. The company has a team to check the case and calculate a potential return from the loaned settlement funding. Several factors affect lawsuit loans approval.
- Type of case. Lawsuit loans are available for personal injury cases.
- Status of the case. The case must be active in the court, and a lawyer represents you.
- Settlement potential. Approval for legal funding is quicker if the settlement potential is considerable.
- Experience and skill level of your lawyer. The lawsuit funding company only works with you if your lawyer is cooperative.
- Your location. There are still states that don’t allow settlement loans.
What do you know before looking for settlement loans
Unlike other loans, a settlement loan doesn’t need repayment or collateral. Before deciding to get a settlement loan, you need to consider all your options. Check your expenses, your income, and your savings. You may have some money lying around that you didn’t know of. Like any other loans, legal funding also has its pros and cons.
Some people get settlement loans because of medical bills. Some hospitals come up with interest-free payment plans. If you’re worried about the mortgage payment, you can also ask your mortgage lender to reduce your cost. It’s best to consider all your options before you consider pre settlement funding.
Choose High Rise Financial for Lawsuit Loans
Hampton Legal Funding offers pre settlement funding to all who have personal injury cases. Application for settlement loans is for free. If your application is approved, our team will contact you on how you can get your pre settlement funding.