Home Finance 3 Key Things to Know About Pre-Settlement Funding

3 Key Things to Know About Pre-Settlement Funding

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3 Key Things to Know About Pre-Settlement Funding

Did you know there are over 40 million lawsuits filed in the United States each year? The types of lawsuits filed each year vary in amount and reasoning. Whether you are filing a lawsuit against an individual following a car accident or a corporation after being exposed to harmful products, finding a way to speed up this process should be your main concern.

People who have never filed a lawsuit before fail to realize they have options when it comes to getting the money they need before the case is settled. For years, people involved in class-action and civil lawsuits have used pre-settlement funding. This type of funding allows the plaintiffs in these cases to get money without having to wait in anguish until a settlement is reached.

The following are some of the things you need to know about pre-settlement funding and how it is used.

1. Pre-Settlement Loans Can Be Used to Avoid Financial Turmoil

Being involved in a car accident is something millions of Americans experience each year. Many Americans are also exposed to harmful products that can affect their health in a negative way. If you are so injured or sick that you can’t work, then a pre-settlement loan may be just what you need.

With these loans, you can avoid falling into financial despair as a result of injury or sickness. Luckily, there are several companies that offer these types of loans.

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In the past few years, there have been a number of class-action lawsuits filed against the manufacturer of the popular weed treatment product Roundup. If you are involved in one of these lawsuits, you should try and Get a Roundup Lawsuit Loan. By doing this, you can rest easy knowing your family is taken care of.

2. How is the Amount of Pre-Settlement Funding Determined?

One of the biggest concerns most people have when trying to find a pre-settlement loan is getting the right amount. If you are new to these types of loans, you are probably unfamiliar with how the value of a pre-settlement loan is determined.

Usually, lenders who offer these loans will consider a number of factors like liability and the damages you have incurred as a result of the incident in question.

People who have lost wages and have large medical bills as a result of an accident or defective product can get a sizeable pre-settlement loan. Instead of rushing through the pre-settlement loan selection process, take your time to ensure you are getting the best possible deal.

3. What If a Settlement Isn’t Reached in Your Case?

Another misconception people have about pre-settlement loans is that they have to pay them back if the case they are involved in is not settled. Most companies that provide these loans do so on a non-recourse basis.

Basically, this means that if you do not receive a settlement from your lawsuit, you don’t have to worry about paying the loan back.

It’s Time to Take Action

If pre-settlement funding is something that interests you, finding the right lender should be your first goal. Before choosing a lender for this type of loan, be sure to check out their reputation and experience level.

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Are you looking for more information about class-action civil lawsuits? If so, be sure to check out the rest of the blogs on our website.

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