In Texas, it is legal to request a loan that is contingent on the result of your personal injury case. You can submit an application for pre-settlement funding. If your lawsuit loan request is approved, you may receive thousands of dollars in just days.
Silver Dollar Financial is a top choice for Texas pre-settlement funding. To learn more, please get in touch with us. We can explain the ins and outs of legal funding and help you complete your loan application.
When You Can Request Pre-Settlement Funding in Texas
The Texas population passed 30 million people in 2022, according to the U.S. Census Bureau. Lone Star State residents often take every precaution to protect themselves and others against injuries. However, there can be times when people are negligent and accidentally harm others.
If you are injured due to someone else’s negligence in Texas, you are not necessarily financially responsible for any costs to treat your injury. You can hire a personal injury lawyer to help you sue any at-fault parties. Plus, your lawyer can walk you through the steps required to ask for pre-settlement funding.
At Silver Dollar Financial, we go above and beyond to help Texas residents get pre-settlement loans. If you want more information about our personal injury loans, please reach out to us. We can help you get a loan that helps you keep your debtors at bay while you pursue your lawsuit.
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Why Pre-Settlement Funding May Be a Better Choice Than a Personal Loan
When you get injured, you will likely have medical bills to pay. On top of these, you may have to miss work due to your injury. The bottom line: your injury can be expensive, and it may be tough to cover the costs associated with you.
You can request a personal loan from a bank or credit union, but doing so may be more trouble than it is ultimately worth. A bank or credit union can explain how a personal loan works to you and its associated interest rate or other fees. If you decide to get a personal loan, you will have to pay it back in accordance with your lender’s guidelines.
On the other hand, legal funding has no fees associated with it. You do not need to complete a lengthy credit check or undergo an income history review, either. Most importantly, you can receive legal funding without having to pay it back unless your case is successful.
How a Pre-Settlement Loan Gets Repaid
There are many types of legal funding at your disposal. No matter what type of pre-settlement loan you get, you pay it back only if you win or settle your case. If you do not receive compensation in your case, you keep the money that was given to you by your lawsuit loan company without any penalties.
For example, you and your attorney may work diligently to build a strong case. Despite your best efforts, you may fall short in your quest to secure compensation. If you received a lawsuit loan, you do not have to pay it back, and your lender covers your balance.
Comparatively, if you win your case, the defendant pays you damages. Your attorney deducts the amount you owe for your lawsuit loan from your settlement. Finally, you receive the remainder of your settlement, and your case is completely closed.
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How Lawsuit Loans Are Regulated in Texas
If you want a pre-settlement loan in Texas, you can request one at your convenience. You can apply for a lawsuit loan online or over the phone. The application process may take you only minutes to complete.
Your attorney will handle your lawsuit loan request. They serve as the point of contact with your pre-settlement funding company. If your loan request is approved, you will get the terms and conditions associated with your funding and can decide if you want to move forward with it.
When you accept a loan request, you should expect your money shortly thereafter. You can use the money you receive to cover your daily expenses. Once your case is resolved, your attorney will notify your lender.
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What It Takes to Get Approved for Texas Legal Funding
Outside of having an attorney to represent you, there are minimal requirements to request a lawsuit loan. A pre-settlement funding company will ask for information about you and your case. Then, it will determine how much money it can provide based on your projected compensation.
Applying for a lawsuit loan will have no impact on your credit score, too. Since no credit check is performed, many people who otherwise do not qualify for a personal loan can get pre-settlement funding. Also, the process to receive legal funding tends to be faster than the one you will need to complete for a personal loan.
As soon as your lawsuit funding request is approved, you have the option to accept or reject your quote. If you have questions about your quote, you can share them with a lawsuit loan company. Meanwhile, if you decide to forgo pre-settlement funding at this time, you can always request it once again at a later date.
What to Look for in a Texas Lawsuit Loan Company
The best pre-settlement funding should have no trouble answering your lawsuit loan questions. This company has friendly, knowledgeable legal funding specialists on hand to assist you. These specialists will encourage you to ask questions so you can get the insights you need to make an informed decision.
Furthermore, it is beneficial to partner with a lender that understands all aspects of lawsuit loans. This lender will help you get the right loan at the right time. It also backs its funding with best-in-class client support.
Your attorney can help you navigate the process of getting a lawsuit loan, as well. Once you receive your loan, you and your lawyer can focus exclusively on your case. You can take solace in the fact that you have a sufficient amount of money to help you get through your litigation.
Explore Legal Funding Options in Texas Today
Silver Dollar Financial can teach you about Texas pre-settlement funding. For more information, please
Call or text +1(844)871-0628 or Apply Now for Pre-Settlement Funding