How to Find Settlement Loans Same Day Near Me
Settlement loans are convenient and helpful financial tools that can help plaintiffs get the money they need to make ends meet while waiting for a settlement to arrive. But getting the cash quickly and locally can be difficult.
How can you find a settlement loan that can get you money immediately (or almost immediately)? And how can you make sure the organization and the arrangement are legitimate?
What Is a Settlement Loan?
In case you aren’t familiar, let’s talk about what settlement loans are.
You’re in the middle of a legal issue. You might be negotiating with an insurance company for a lump sum payment, or you might be preparing for a trial. In any case, you’re in line to receive some money in the future.
A settlement loan is a form of advance, giving you access to that money much earlier than you would originally get it. After filling out a short application, you’ll have a chance to qualify for this funding. As long as your case has a good chance of winning, qualification shouldn’t be a problem. A portion of the money you’re set to receive will hit your bank account in a day or two and you can spend that money however you want.
As long as the loan is non-recourse, you won’t have to pay it back if you don’t win a settlement. You also won’t have to start paying back the loan until you win a settlement. Some settlement loan companies charge interest, but Capital Now Funding is the only company that charges a one time flat fee instead of ongoing interest.
The Importance of Shopping for a Settlement Loan
Sound great? It should. Settlement loans have helped thousands of people make ends meet while they wait for their settlement to arrive. However, not all settlement loans are created the same. Some companies are known to charge high interest rates, leaving their clients in financial distress by the end of the arrangement. Other companies are completely predatory in nature. That’s why it’s important to shop around for a company that you trust – and one that offers the type of settlement loan that can help you best.
How to Find Settlement Loans Same Day Near You
People usually have a few important priorities when shopping for a settlement loan. In addition to making sure they’re not falling for a scam, they want to make sure they can get the money as quickly as possible and that they’re working with a firm with a good reputation.
So how can you find a settlement loan the same day near you?
- Talk to your lawyer. One of your best options is to talk to your lawyer first. Your lawyer won’t be able to give you a settlement loan directly, but they probably know several settlement loan companies they can recommend to you. Get their insights and their opinion on settlement loans in general, and see if they can give you a referral.
- Do online research. Next, spend some time doing online research. You can search for a local settlement loan company this way, but keep in mind that the internet can connect you with settlement lenders all over the country – and you probably won’t notice a difference in service between a local company and a national one. In fact, national settlement lenders tend to offer better deals since they operate at scale.
- Get recommendations. When researching different companies online, make sure you look at ratings and reviews from previous clients. What are people saying about this settlement loan company? Are people having a good experience with it?
- Avoid conventional banks. It’s tempting to get a loan from a conventional bank, or max out a credit card to help you make ends meet, but these can be financial traps. Most conventional loans are recourse loans, meaning you could be on the hook for the money even if you don’t win a settlement. Plus, interest rates tend to be very steep.
Shopping for the Best Settlement Loan
When shopping for a settlement loan, make sure you examine the following:
- Ratings and reviews. If the settlement lender is running a scam or taking advantage of customers, you’ll learn about it here.
- Fee structures. Compounding interest rates can kill your finances. Instead, choose a business that offers a settlement loan for a one time, fixed fee.
- Transparency. Pay attention to how clear and upfront the company is about their terms. Transparency is usually a reliable sign that you can trust this business.
- Non-recourse nature. Your settlement loan should be non-recourse; in other words, you shouldn’t have to pay the money back if your settlement never arrives.
- Approval process. How fast will you be approved for the money? How fast will you receive it?
- Communication. Is this settlement lender easy to reach and communicate with? Do they seem capable of quick conflict resolution?
Tips to Expedite the Process
Here are some additional tips to help you expedite the process, if you’re in a hurry to get the money.
- Put a budget together. Use a strict budget to keep your finances in line while you look for an additional line of funding.
- Set your goals and objectives. Understand what you’re trying to achieve. Getting a lump sum of money is exciting, and makes you feel like you can do anything – but there’s still an upper limit to what you’ll have to spend. Make sure you’re spending it wisely.
- Be prepared with your lawsuit information. Most settlement lenders will make you fill out an application with some details regarding your case. Have that information prepared so you can qualify faster.
- Keep your lawyer involved. Notify your lawyer that you’re applying for a settlement loan; they may be contacted by the settlement lender in the future.
If you’re searching for a settlement loan that can provide you with funds in record time, you’re in the right place. At Capital Now Funding, we’ve helped countless people get a settlement loan while they wait for their pending lawsuit. Apply now to start the process today!