Every day, someone is left physically disabled or has their finances affected because of a personal injury case. Personal injuries often prevent victims from working to earn money. If you’re one of the many who has suffered a personal injury, cannot work, and are currently unable to make ends meet, you may want to apply for a pre-settlement loan. Pre-settlement funding can provide the resources you need during an injury settlement.
Florida Lawsuit Loans provide the much-needed service of helping claimants avoid financial hardships during personal injury cases. It can be months or even years before money from a personal injury settlement or judgment gets distributed. Considering that many people live from paycheck to paycheck or don’t have much savings, these loans can be a lifesaver.
When Legal Funding Is Necessary
Legal funding could be needed under the following circumstances:
- Your demographic is traditionally spurned by financial institutions.
- You have less than ideal credit.
- You mistrust large corporate banks.
Whatever the case may be, if your basic needs can’t be met because you have bills and injury expenses to pay, pre-settlement funding could be the right decision for you.
How Do I Know if I Qualify for Lawsuit Funding in Florida?
To find out if you qualify for lawsuit funding in Florida, head to the website or office of a legal lender and fill out an application. The process is usually quick and easy. Once you’ve applied, a review of your submission will begin. If you qualify, you’ll be informed and receive a deposit into your bank account.
What Information Do I Need For a Lawsuit Cash Advance?
Beyond providing your name, the amount you’d like to borrow, and some other basic information is necessary. The reason they need your information is that your lawyer and lender will communicate directly about the details of your claim and its potential outcomes.
Lawsuit Loan or Cash Advance
You may want to know the difference between a lawsuit loan and a cash advance. They may appear similar, but there are important differences to note. Traditional loans usually require payment regardless of the outcome of the case. Cash advances only have to be repaid if the claimant is awarded a cash payout.
Legally speaking, this sort of arrangement isn’t a loan, as repayment is contingent upon the result of the lawsuit. The arrangement is a non-recourse advance against a pending legal case.
Choosing the Right Company to Get an Advance on Your Lawsuit Award
There is a process to follow when searching for the correct lender for you. There are many lenders in the business, and not all of them will be a good fit for you. Be sure to invest ample time into reading testimonials and researching the lender. Choose a lender who’s personable, transparent with the terms of service, and cares about helping people more than their bottom line.
