Advantages of Choosing Pre-Settlement Funding
Find out more about the advantages of choosing pre-settlement funding vs. other options.
Less than a minute to apply – get the cash you need in hours if approved.
So Many Different Funding Options. What’s The Best?
When there are different funding options out there, you may wonder what are the advantages of choosing pre-settlement funding? If you think the process of applying for these funds is going to be extensive, think again. There are many different advantages of choosing pre-settlement funding, and we hope you will consider this route as a viable option when finding the best fit for your situation.
It’s no secret that money can be tight, especially after you’ve had a serious injury that requires litigation. So, why not make your life a little bit easier and get rid of stress related to credit card bills, rent, mortgages, or other routes that people take to figure out how to make ends meet in a financially stressful time? Read on for the best reasons to choose pre-settlement funding over other options out there.
Advantage #2 Avoiding Credit Checks
If you are running low on cash and can’t buy basic necessities like groceries and gas, it’s pretty common to want to turn to credit cards. Afterall, with a credit card, you can buy something now, and pay for it later. The problem with using credit cards, however, is that you usually need to have your credit score checked before you can be eligible for one. Plus, if you carry a balance, and only pay the minimum, the interest adds up. With Pre-settlement funding, you only pay when you win your case. There is no risk here because if you don’t win, you don’t have to pay it back. And, credit checks can result in lower credit scores sometimes, which brings us to our next point…
Appropriate Funds Allocated
Pre-settlement funding uses a few factors to determine how much money can be distributed to an individual. Some of these factors include the strength of the court case, and a percentage of what the actual settlement would be. Keeping these things in mind makes it so that an individual won’t get in over their head when it’s time to repay the loan. Unlike more general ways to borrow money, like credit cards, payday loans, or second mortgages, legal funding takes your specific situation into consideration. This is a huge advantage because, down the line, you will only have to pay back what you can afford. While it may be tempting to choose a credit card with a large credit limit, you won’t be doing your future self any favors and could actually end up in a larger financial mess in a few months.
As you can see, there are many advantages of choosing pre-settlement funding. If you are still on the fence about whether or not you think it’s right for you, contact us to learn more. And always remember, the application takes only a few minutes to complete and you will have funding in your bank account within 24 hours if approved. You really have nothing to lose by calling us to learn more about if pre-settlement funding is right for you.