Pre-Settlement Funding 101
What is pre-settlement funding, exactly? Read on to find out more.
Less than a minute to apply – get the cash you need in hours if approved.
Pre-Settlement Funding 101
Pre-settlement funding is when you can get a cash advance against a future settlement or award amount for a pending court case. It is most widely available for cases related to car accidents, with about 80% of total funds going to car accident victims. The remaining 20% of cases are for personal injury-related lawsuits (like slip and fall, premises law, and wrongful death). But, what exactly is pre-settlement funding? Is it a loan? It is a grant? Does it need to be paid back? If you are interested in pursuing pre-settlement funding for a pending case that involves you or someone you love, make sure you know the basics.
Pre-Settlement Funding Has Many Names
First and foremost, pre-settlement funding can go by many different names, depending on the company you work with, or in what part of the country you live. Some popular synonyms include: pre-settlement financing, advances on pending lawsuits, and settlement funding.
So, pre-settlement funding is designed to provide someone with funding against a pending lawsuit. Does this mean that you need to pay the money back?
Payment Terms
This is where pre-settlement funding takes a turn from other types of traditional lending. For instance, in many cases, the funds are only paid back if you win your case. Rather, you must only repay the legal funding company if you are awarded the settlement funds from your pending case. This happens to be true if you get pre-settlement funds from Fast Cash Legal. If this seems like it’s too good to be true, it’s not!
This is where people wonder what is pre-settlement funding, exactly, if I don’t have to pay it back? This just means that people who qualify must have very, very strong cases. The legal funding company is certainly going to be confident that you will win your case so you can pay them back.
If you do win your case, you use your settlement funds awarded to repay the legal funding company. Be sure to check with your legal funding company for additional fees and interest rate on your specific pre-settlement funds, once you get approved.
Why People Choose It
Lawsuits are known to be both a time suck and a huge financial commitment. Adding more stress is if your lawsuit is related to an injury. If you have doctors bills piling up along with attorney fees, missed work opportunities, and spending more time on your legal issues, it can certainly create a recipe for financial struggles. This is where pre-settlement funding can be very appealing. Consequently, people choose pre-settlement funding as a sort of financial bridge to help close the time gap between their accident and their settlement. If you know you have a windfall coming because you have a strong personal injury case, then a legal funding company will approve your application for funds NOW in anticipation of a future win. These funds are designed to help offset some of the costs related to your lawsuit and your injury.
Getting Started
Now that you know what pre-settlement funding is, you may want to consider speaking with a legal funding company if you have a car accident or personal injury lawsuit and you’ve been struggling to pay the bills. Be sure to have all your information ready, as well as your attorney’s information. Contact us at Fast Cash Legal to learn more about if you qualify.
And remember that you need not worry about how you’re going to pay us back if you end up losing your case… if that happens you will not have to pay us back. Not a single cent.
Call us today to apply at (844) 213-1116, or simply start by completing the short application!
How Do I Qualify?
While there are many things that we look at regarding your personal injury lawsuit to see if you qualify for a legal funding, there are 3 main questions we ask about your case:
- How serious were the injuries you suffered?
- Does the person who caused the accident have a way to pay for any legal settlement award?
(the real key is do they have insurance to pay for it) - Is the person who you’re claiming caused the accident actually responsible for the accident?
(kind of an odd question, we understand, but you’d be surprised)
If your case can meet these qualifications, then there is a great chance we can fund you.
Fast Cash Legal does not provide pre-settlement legal funding in the following States: Alabama, Arkansas, Colorado, District of Columbia, Illinois, Indiana, Kansas, Maine, Maryland, Missouri, Nebraska, Nevada, North Carolina, Oklahoma, South Carolina, Tennessee, Vermont, Virginia, West Virginia.
Fast Cash Legal does NOT fund Workers Compensation cases.
Start Your Free Application Now
- No credit checks
- If approved, you can get your cash in 24 hours
- If you lose your case, you owe nothing
- There is no obligation if you apply then decide not to take the funding
