It happens everyday; medical malpractice, accidents, work place injury, negligence, etc. Sometimes these result in a lawsuit against the person or company who caused the damage or injury. Usually during the lawsuit the plaintiff is unable too work due to injuries or losses they received. It can be a very trying situation; on one hand you're in the process of a long lawsuit to receive awards for your damages or loss. On the other hand your debt is piling up, you have household bills, car and home payments, medical bills, etc that need to get paid. The question is what do you do?
The answer is quite simple; a settlement , also known as a pre-settlement loan or lawsuit cash advance. This is basically when a settlement loan provider gives you a loan based on the merit of your lawsuit. They are basically buying interest into your lawsuit, and using as collateral the possible awardable amount in your case. This option is much better than a traditional loan; they are easier to obtain and financial institutions will not give a loan based solely on a possible award in a lawsuit.
The benefits of this loan far out weight that of a traditional loan. For starters a settlement loan is considered a non-resource loan. This is due to the fact that if you lose your lawsuit you do not have to pay the loan back. This simple fact actually removes a settlement loan from the whole "traditional loan" area. The simple fact that you only pay it back if your case is won makes it the ideal choice during a lawsuit; unlike with a traditional loan, you would still be required to make the payments.
Another excellent benefit of a settlement loan is that you can receive your money in as little as 48 hours after your application; this can vary based on how quickly your attorney replies to the settlement loan provider. They usually will have an answer within hours of speaking with your attorney and reviewing your case. Unlike with traditional loans which can take 3-6 weeks to get approval and the funds. Why wait longer for your money while your debt is piling up?
As you can see with the above statements a settlement loan is a much better choice when it comes to obtaining financial support during a pending lawsuit. It allows you to get the money you need and is only repaid if the case is actually won. Now, if you need the money and you're in a lawsuit why not consider a settlement loan?
Legal Settlement Loans is the number one source for settlement loan information. We provide the most up to date information regarding settlement loans, educate yourself properly before getting a settlement loan at LegalSettlementLoans.com!
