Pre-Settlement Funding - Avoiding Pre-Settlement Funding Dilemmas

Pre-Settlement Funding is essentially a cash advance, given to you in exchange for accepting a percentage of your potential future settlement. Essentially, you're selling off part of your future court settlement or award today, in return for a check. This isn't new. The concept has been in existence for years and has recently become more popular as a result of the recent settlements and verdicts in fraud cases. Pre-Settlement Funding is a very good method of luring qualified plaintiffs to accept an offer once it is made.

Most importantly, pre-settlement funding allows you to pay your expenses while waiting for the awarded money. Most personal injury lawsuits drag on for months, sometimes years. While on a waiting period, you may incur expenses such as trial expenses, doctor visits, attorney fees, car repairs, home repairs, food, and many other expenditures that can quickly add up. Once the lawsuit is resolved and the awarded money is dispersed, those expenses become out of your financial picture and can be completely eliminated.

You do have to be careful when using pre-settlement funding though. As mentioned earlier, you must be absolutely positive that you will receive a substantial cash advance prior to signing anything or submitting a proof of claim form. Many fraudulent companies prey on those interested in receiving a cash advance and quickly obtain the necessary funds by demanding high upfront legal fees and/or demanding outrageous medical bills. If you are faced with the possibility of having to repay a cash advance debt, you will want to use caution when dealing with a potential company you've never heard of. Although there are many legitimate pre-settlement funding companies out there, you should always proceed with caution and seek information on the company's history and success rate.

Another one of the pre-settlement funding steps at usclaims.com that you need to take seriously is working diligently to establish a maximum loan eligibility. The company you are dealing with may be able to provide you a maximum loan eligibility or may simply tell you that you are not eligible based upon your current financial situation. Therefore, be sure to thoroughly research and understand the maximum loan eligibility requirements for pre-settlement funding. Be sure to also check and make certain the company has a maximum loan eligibility standard in place before signing any documents or submitting any forms.

One of the most important USClaims pre-settlement funding steps that you need to take is keeping any outstanding loans current. Most fraudulent companies will aggressively try to get you to extend a loan while you're still in the discovery phase of your case. This action can be highly detrimental to your efforts and can increase your risk of encountering further financial difficulties once your case has been decided and a lawsuit loan has been approved. Therefore, it is vitally important that you work diligently to pay down any outstanding debt that you have such as credit card debt, medical bills, and student loans. By doing so, you will dramatically increase your chances of receiving a good settlement loan that is consistent with your settlement amount and your budget.

If you are in a pre-settlement funding program, it is vitally important to hire an attorney. In the past, many attorneys did not charge any fees until their clients received their lawsuit loan from the program. Today, many attorneys are only paid when their clients receive a settlement and obtain either a lawsuit loan or cash settlement from the company they are representing. Therefore, if you're represented by an attorney who is not paid during the course of your case, this can greatly impact your ability to obtain additional funding from the company you're represented by. Hire an attorney and work closely with them to determine the best way to resolve your case in a manner that benefits you. In the end, if you have hired an attorney, and he or she does not work in conjunction with your company, you will likely forfeit any interest or fees that the attorney may have been paid. Read more, visit https://www.encyclopedia.com/finance/encyclopedias-almanacs-transcripts-and-maps/car-insurance.

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