You get injured due to no fault of your own and sue a liable party for damages. However, you have no idea how you will stay afloat financially if you cannot work due to your injury. Fortunately, Alaska pre-settlement funding lets you borrow against your projected case settlement.
Silver Dollar Financial provides many types of funding to those involved in personal injury lawsuits. We make it easy to get a pre-settlement loan as soon as 24 hours after you apply. Contact us for more information.
What You Need to Know About Pre-Settlement Funding in Alaska
Silver Dollar Financial offers Alaska car accident loans and many others. Our legal funding specialists can learn about your case and explain our loan options in detail. Get in touch with us today.
According to Alaska Statutes § 09.10.070, you may have up to two years from the date you suffer a personal injury to sue someone for damages. If you are involved in a personal injury lawsuit, you may be eligible for a legal loan. To get started, hire a personal injury lawyer who will represent you in your lawsuit and help you get legal funding.
You can apply for a lawsuit loan at any point during your litigation. There are no costs to submit an application for an Alaska pre-settlement loan. You have the option to fill out your application online or complete your submission over the phone.
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Pre-Settlement Funding vs. a Personal Loan
You can get a personal loan to pay for a lawyer and cover other fees while you are in the middle of an injury lawsuit. Alternatively, you can request a pre-settlement loan. To understand why this may be a better option than a personal loan, consider how both options work.
With a personal loan, you ask for money from a bank or credit union. A lender may need days or weeks to respond to your request and require you to provide information about your credit and income histories as part of its application process. If your submission is approved, you may have to make monthly payments on your loan.
Comparatively, a legal loan company only asks for information about your injury case. The business can respond to your funding request within 24 hours. It does not require you to make any payments on your loan, and if your case is unsuccessful, you keep 100% of your balance.
Alaska Pre-Settlement Loan Application Process
If you want to get your money now, do not wait to complete your application. You may need only a few minutes to request a legal loan. A pre-settlement funding company does not ask for information about your credit and income histories.
A legal loan company will give you a personalized loan quote. If you have concerns or questions about this quote, share them with the business. This will help you make an informed decision about whether now is the right time to move forward with legal funding.
If you are ready to accept a loan quote, do so, and you will receive your money promptly. There are no limitations on how you use your loan. Your lawyer keeps your pre-settlement funding company updated about your case and lets the business know if you secure damages.
Click to contact the Silver Dollar Financial Team today or Call +1(844)871-0628
Fees Associated with a Pre-Settlement Loan in Alaska
You wonder if there are any upfront fees when you apply for legal funding. Ultimately, it costs nothing to submit an application for a legal loan. This remains the case regardless of whether you approve a loan quote.
Once you get your Alaska pre-settlement funding, you incur no costs in the short term. Your legal loan provider explains your loan’s interest rate before you finalize your funding. No loan payments are necessary until your case is closed.
With legal funding, you are not responsible for paying back your loan if you do not get any damages. For example, your lawyer does everything they can to help you get damages but falls short. If this happens, they will notify your pre-settlement funding company, the business will clear your loan balance, and you keep the money that was already given to you.
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Time It Takes to Secure a Legal Loan
In terms of how non-recourse loans work, the application process is seamless. As soon as you submit your application, a legal loan provider reviews it. Soon after, you will get a loan quote that includes detailed information about how much money you can get.
You may apply for legal funding and get approved the next day. After you accept your loan quote, your pre-settlement funding company does not delay in fulfilling your request. Thus, a legal loan is a great option for those who want to receive money immediately based on a projected personal injury case settlement.
Of course, if you receive a legal loan and your case is successful, you may have concerns about how long you have to pay back your funding. Thankfully, your lawyer handles the repayment process. They will explain this to you, making sure you know what to expect if you receive damages.
What to Expect When You Repay a Pre-Settlement Loan
Pre-settlement loan repayment is not always mandatory. The legal system is unpredictable, and whether you are required to repay a non-recourse loan depends on your case results. If you secure damages, you will have to pay back your loan.
In a situation where you recover damages, your lawyer handles legal loan repayment for you. They deduct your loan balance from your settlement. Next, they pay your legal loan company, and you get the remainder of your damages.
If you do not recover damages, your attorney notifies your Alaska pre-settlement loan company. Since the business approved your loan contingent on your case results, the company takes full responsibility for your balance. Therefore, the loan you previously received does not have to be repaid, and you do not incur any penalties.
Take the First Step to Get Approved for Alaska Legal Funding
Silver Dollar Financial simplifies the legal loan approval process. If you are interested in lawsuit funding, we are here to help. Contact us to learn more about our legal loan options.
Call or text +1(844)871-0628 or Apply Now for Pre-Settlement Funding