There are hardships people may incur in life where they are waiting for lawsuit settlement funds. Instead, they end up going into substantial debt due to court fees, hospital bills, lawyer payments, or a combination of all the above.
No matter what legal circumstance you might be going through in your life, there are financial resources available to help you out. This is known as pre-settlement funding. It also goes by other terms such as lawsuit advances, alternative litigation financing, or third-party consumer litigation financing. All of these relatively mean the same thing.
What are the benefits of pre-settlement funding and what circumstances would constitute being able to receive pre-settlement funding? Let’s take a look.
Benefits of Pre-Settlement Funding
In any situation that requires legal representation, you may also be suffering from financial stress while waiting for your settlement to come in. The major benefits include being able to receive your settlement prior to receiving it. This way, if you are unable to work, have a reduced or limited income, or have other expenses associated with care due to an injury, you can apply for pre-settlement funding.
This is important to know because as excess expenses with your legal case start to add up, you may also notice your other personal bills may be adding up as well. With pre-settlement funding, you can ensure that you have the finances to manage your personal bills so you can focus on getting well.
It is important to note that when you are eligible to receive pre-settlement funding, you are opting for non-recourse funding, not a loan, as there is a substantial difference. A loan typically means you will have to pay it back with interest. However, non-recourse funding means that if you lose your lawsuit, you will not be required to repay the money.
Pre-Settlement Funding for Accidents
Getting into any type of accident is an incredibly scary and sometimes life-altering occurrence. Unfortunately, there are many circumstances when someone may have gotten into an accident that is beyond a simple fender bender and may require hospital bills or perhaps hiring legal counsel to help.
Because you may be in a situation that doesn’t allow you to work, this also means you won’t be able to pay any legal fees on top of your basic needs such as rent, utility, or groceries. While you are waiting for money from your settlement, you could very well qualify for car accident pre-settlement legal funding, for example.
Other types of pre-settlement legal funding for accidents include:
- Drunk Driver Accidents
- Hit and Run Accidents
- Bike Accidents
- Truck Accidents
- Bus Accidents
- Ride-Sharing Accidents
- Motorcycle Accidents
Aside from accidents with vehicles, whether motorized or not, there are several other circumstances that may allow you to be eligible for pre-settlement funding. This can include:
- Nursing Home Abuse Lawsuits
- Medical Malpractice Lawsuits
- Wrongful Death Lawsuits
- Worker’s Compensation Lawsuits
- And several others
If you are uncertain whether or not you might be eligible for pre-settlement funding, talk to a professional. Capital Now Funding offers fixed fee funding with no interest. No matter how long it may take you to recover from your incident and repay your funding, the amount you owe will never change.
Going through a difficult circumstance, such as a legal case, is already hard enough. There is no reason why not having enough funds to cover your bills should be an issue to make it any more difficult.
