Filling a lawsuit can get time-consuming and expensive. If your injury has caused you to lose your income or incur unprecedented costs like medical bills, your financial situation could deteriorate before settling your case.
In such a situation, you may be considering getting a lawsuit loan. Lawsuit loans help relieve you of financial stress as you wait for the settlement. Basically, in a lawsuit loan, a lawsuit funding company will buy all your rights or just a portion of the settlement or award in exchange for the advance they give you while the case is still pending. The portion you can borrow in a lawsuit loan based on your settlement is the estimated value of your settlement.
Read on for more benefits of a lawsuit loan.
Lawsuit Loans Are Hassle-Free
Lawsuits are easy-to-cash advance solutions since they don’t require credit checks. Lawsuit lenders are not concerned with a borrower’s credit score. The amount heavily depends on the circumstances and facts of the case.
A Las Vegas lawsuit loan is hassle-free, in that it do not require any upfront fees, monthly payments, out-of-pocket payments, and no income verification either.
Lawsuit Loans Are Risk-Free
Lawsuit loans are on a non-recourse and risk-free basis. The advance cash is not the same as a personal loan. Therefore, you do not need to make a monthly payment before your claim gets settled.
Your attorney pays back the settlement judgment’s proceeds. The best part is that if you ended up losing the case, you owe the company nothing and keep the settlement advance.
Lawsuit Loans Are Cash Lines
The trouble that comes with personal injury lawsuits is that they can take up a long time, ranging from months to years. Your finances can take a wild turn on the worse end as you wait to have justice served. A lawsuit loan is a cash line since it avails the cash for you when you are most in need of it.
If your injury leads to incapacitation preventing you from reporting to work, it’s possible to suffer heavy financial stress, mainly due to the medical bills. Due to the inability to go to work, one may quickly run out of cash to attend to their daily expenses. A lawsuit loan can cater to living rates, medical bills, or monetary compensation.
Quality Medical Treatment
Personal injuries can be quite severe and cost quite the bucks, for instance, car accidents requiring urgent treatment. Many personal injury victims often need expensive treatment options such as physiotherapy, rehabilitation, diagnostic tests, and surgical operations.
If one gets caught up in such a situation lacking medical insurance or just short on cash, the lawsuit loan would provide a quicker and more immediate solution. Once a personal injury victim gets access to quality medication, they can get back on their feet and everyday life without waiting for the settlement compensation issuance.
In some scenarios, having a loan can help the plaintiffs obtain a better settlement. Since you already figured your immediate finances out, your attorney has a lot of liberty. Your attorney gets more time to attend to and present a rather compelling and robust case. This way, the defendant team’s insurance company does not pressure you into picking an unfairly low settlement.
Get a Lawsuit Loan
When involved in a personal injury case, it’s not rare for bills to pile up. Often, the opposing insurance team will focus on trying to make you accept lower settlements. You are very vulnerable to these quick offers when pressed for finances. Getting a quick settlement may not work out great for you. However, getting a lawsuit loan will surely help relieve you of the financial stress.