In a legal case, when the claimant has been awarded damages for their injury, loss, or damage but these damages have not been paid out by the defendant, then under certain circumstances, a party may be entitled to apply for a lump sum in advance of the final settlement. This is called pre-settlement funding and if you can provide proof of your entitlement to the funding, you could receive a cash lump sum for up to 100% of your damages.
Companies that provide pre-settlement Funding:
What is Pre-Settlement Funding
Pre-settlement funding is an advance payment on future damages that are expected in a case when the result is unknown or when money can’t be collected right away. It isn’t a loan and there’s never any interest charged. It is money you can use to pay for medical bills, household bills, living expenses, and other costs while waiting for the final result of your case. You do not have to repay this advance if you lose your case or settle it out of court.
Pre-settlement funding is completely different than a loan. You don’t repay it and you won’t be charged interest if your case is lost or not settled in time to use all of the money.
How Pre-Settlement Funding Works?
If you’re looking for pre-settlement funding, then here’s how it will work:
First, just fill out our form or give us a call to talk about what you need. We’ll ask you some questions about your claim, and if it looks like something we can help with, then we’ll send you an application. After reviewing the application, if everything looks good, then one of our funding specialists will contact you to discuss details on when they can expect payment of your claim.
Once we receive the money from the defendant, we’ll send you a check for up to 100% of your settlement. You can use this advance on anything you need and there’s never any interest charged and no repayments to make if your case is lost or settled later than expected.
What are Pre-Settlement Funding Risks?
There’s no risk in applying for pre-settlement funding. Once you’re approved, we’ll send a check within 24 hours of our receiving your settlement money from the defendant. However, if your case isn’t settled by the time limit set out in your agreement or you do not win your case, then you are not obligated to repay the advance.
Benefits of Pre-Settlement Funding
Cash is good to have, but if you receive an advance payment on your future settlement it also has some other benefits:
- If your case doesn’t settle until months -or even years- after your injury occurred, then you can still pay for medical expenses and living expenses during that time. You don’t have to worry about being denied an advance because your case has been pending too long.
- You don’t need a credit check or a bank account to qualify for pre-settlement funding. Anybody can qualify as long as you have a case with damages and the defendant is obligated to pay those damages. That’s all you need.
- You won’t have to pay any interest or repay your advance if you lose your case. It’s advance settlement funding and if you don’t win your case, then there’s nothing to repay.
- You can use your money on anything you need, whether it’s for living expenses, medical bills, household bills, or even a new car if that’s what you need to get back and forth from work. It is yours to do with as you wish.
How Long does Pre-Settlement Funding Take?
Applying for pre-settlement funding is easy and fast. Once approved, the money will be in your account within 24 hours of when we receive payment from the defendant in your case. However, if your case settles after the time limit set out in your funding agreement, you don’t have to repay the advance.
There’s no risk involved and pre-settlement funding is completely free. It is not a loan and there’s never any interest charged or fees to pay when you lose or settle your claim later than expected.
So if you have a pending or active personal injury lawsuit and you’re looking for pre-settlement funding to help with medical bills, living expenses, or other costs, then get more details or fill out our application online.