How Does Pre-Settlement Funding Work?
Have you heard of pre-settlement legal funding? Are you curious to learn more about this funding resource? If so, this article will help you gain a better understanding of how it works and how to apply for funding.
How pre-settlement funding works
Pre-settlement legal funding puts a portion of your expected settlement money in your pocket before your case is complete. In other words, normally you’d need to wait for your case to be settled, and then you’d have to wait to receive a check in the mail.
Pre-settlement funding gives you access to cash before your final settlement agreement is reached.
Pre-settlement funding is an advance, not a loan
Also known as litigation funding or a lawsuit loan, pre-settlement legal funding is a cash advance against your future lawsuit settlement. Although some people call it a lawsuit loan, it’s actually not a loan at all.
Unlike loans that charge outrageous interest, pre-settlement funding from Capital Now Funding is recurring interest-free and is the ideal way to get money when you need it. The best part is you don’t have to pay it back if you lose your case.
Why you should consider pre-settlement funding
Have you been injured in an accident that you’re now battling in court? If you’re too injured to go back to work or find a new job, money is probably pretty tight. If you have a strong case, you’ll eventually get a settlement check, but that money could take weeks or even months to arrive once your case is complete.
You can’t wait for a settlement check when you have bills to pay. When you need money immediately, pre-settlement legal funding is your best option.
What exactly is pre-settlement funding?
You might be wondering what pre-settlement funding is if it’s not a loan. This type of funding is referred to as non-recourse funding, which means if you don’t win your case or settle successfully, you don’t have to pay back anything.
Who qualifies for pre-settlement funding?
Qualifying for litigation funding is a process. It’s not like applying for a loan where someone looks at your history on paper and decides whether or not you’re a risk. With pre-settlement funding, it’s all about your potential case outcome.
Since there’s no obligation to pay it back, companies that provide pre-settlement funding go through a rigorous process to qualify and approve applicants. With your permission, the company providing the funding will speak to your attorney to get more information about your case, including their perception of the potential outcome.
If the funding company and your attorney feel confident in your case outcome, you’ll be approved for litigation funding.
What are the benefits of receiving litigation funding?
Is litigation funding the right choice? That depends. There are several key benefits you’ll get from pre-settlement funding, and depending on your situation, they might be important.
- Fast access to money. Getting money before your case is complete will help you deal with financial issues that are causing you stress. For example, this type of advance is ideal when you have unpaid bills from being out of work, or if you need gas money to travel to see a specialist for a medical appointment. When you get pre-settlement funding, you’ll have the cash to take care of your immediate, pressing expenses like your cellphone and electricity bills.
- No debt. When you need money, but don’t want to take on more debt, litigation funding is ideal. You don’t have to worry about going into debt just to get the money you need to survive.
- Relief from financial stress. Are you stressed out about having to pay your bills? Are you out of work and wondering how you’ll get the money to pay your internet, cell phone, and electric bill? Stress takes a toll on the body, and pre-settlement funding can alleviate that stress by helping you pay your immediate bills. No matter how long your lawsuit takes to settle, you won’t have to worry about accounts being canceled or utilities being shut off.
Who should apply for pre-settlement funding?
The ideal candidates for pre-settlement funding are people who are seeking compensation through a personal injury lawsuit of any kind. It’s common for people to seek pre-settlement funding while pursuing the following cases:
- Hit and run accidents
- Drunk driving accidents
- Bus accidents
- Car and truck accidents
- Ridesharing accidents (like Uber and Lyft)
- Motorcycle accidents
- Bike accidents
- Slip and fall accidents
- Wrongful death lawsuits
- Jones Act/Maritime lawsuits
- Workers’ compensation lawsuits
- Medical malpractice lawsuits
No matter what kind of personal injury lawsuit you’re pursuing, if you’re entitled to receive a settlement for your injuries, you should apply for pre-settlement funding.
Apply for pre-settlement funding from Capital Now Funding
There are plenty of companies that offer litigation funding, but many of them are costly. When you apply for funding through Capital Now Funding, your funding will come risk-free and without recurring interest. Many companies charge interest throughout the life of the case, which gets expensive. At Capital Now Funding, we don’t charge a single penny in recurring interest.
Here are just some of the reasons to apply with Capital Now:
- Transparent fees. You’ll know upfront exactly what you’ll pay to receive your funding. Everything is disclosed in the beginning and there are no hidden, surprises, or rising fees.
- Fast funds. When approved, we’ll deliver your funds straight to your bank account within 24 hours, through a same-day wire, or you can request a traditional check or an electronic check.
- No recurring interest. As stated, you won’t be charged interest for your pre-settlement funding from Capital Now Funding.
- Non-recourse funding. If you don’t win your case, you don’t have to pay back a penny.
Apply for pre-settlement funding from Capital Now Funding
If your case has yet to settle and you need cash, you don’t have time to wait. You can’t guarantee when your case will settle, or when you’ll get your settlement check in the mail.
To get fast relief, apply for pre-settlement funding through Capital Now Funding. Once you apply, we’ll discuss your case details with your attorney to see if you qualify. If you qualify for pre-settlement funding, we’ll get the process started right away so you can get your money as soon as possible.