When you suffer an injury that wasn’t your fault, you might wonder how you can receive compensation for your medical bills. A lawsuit is your best option, but you’ve probably heard how expensive lawyers and court costs can be. While this is true, don’t count the option out! Pre-settlement loans are the answer, but are pre-settlement loans safe to take out?
Pay Back Out of Your Settlement
So, how do pre-settlement loans work? Simply put, pre-settlement funding is when a firm gives you an advance on your settlement money. Then, when you win your case, you pay back the funder right out of your settlement. This means that you don’t need to risk your personal finances.
You can think of this loan as borrowing from yourself in the future—you get money based on what you (and the firm) expect your settlement to be so you can use the money now to cover attorney fees, court costs, and any other expenses you have.
What Happens If You Don’t Recover?
This is the best part about pre-settlement loans. If the firm that looks over your case accepts, gives you capital to use, and then your lawsuit ends up being unsuccessful, you don’t need to pay back your loan. Paying back the loan is entirely contingent upon winning or losing the case—if you lose the case, you can keep the money.
Work with a reputable pre-settlement firm that provides transparency in every step of the process so you can feel safe with your money.
Gives You Time and Access to Justice
For many Americans, pre-settlement loans are the silver bullet that can stop big corporations from taking advantage of the little guy. Before pre-settlement loans, large companies could afford to string a case along until the plaintiff simply ran out of capital to pursue the lawsuit.
Now, pre-settlement funding gives everyone equal access to justice. On top of that, pre-settlement funding can help you extend the case in order to receive the best payout possible.
Now that you know how safe pre-settlement loans are to take out, work with a reputable pre-settlement firm and get justice today.