Have you been injured in an accident caused by another person? Are you entitled to receive compensation for your injuries but have medical bills and daily expenses piling up? Pre-settlement funding could help you cover your costs while you wait for your settlement.
Silver Dollar Financial offers pre-settlement funding for injury victims who are unable to work but continue to have unmet financial needs. Families whose primary income earner has been injured often face incredible difficulties with handling daily responsibilities. Dallas pre-settlement funding could be the solution you need.
Your attorney can help you decide if you are eligible for pre-settlement funding. They can answer any financial questions or concerns you may have regarding funding. Our team will work closely with your attorney to help you receive the funding you need.
Types of Legal Issues that Qualify for Pre-Settlement Funding
A wide variety of cases are covered under personal injury law, so you may be wondering which legal issues qualify for pre-settlement funding. It is important to note that not every case may be eligible for funding. Some of the most common legal issues that qualify for funding include the following:
- Slip and fall accidents
- Medical malpractice claims
- Nursing home neglect
- Car accidents
- Bicycle accidents
- Wrongful termination
- Pedestrian accidents
- Product liability
- Wrongful death
- Premises liability
- Whistleblower complaints
- Other personal injury claims
The above list contains general legal issues. There are many more types of civil cases we can fund. Your financial advisor and attorney can help determine if your specific situation qualifies for pre-settlement funding.
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How Pre-Settlement Legal Funding Works in Dallas
Injury victims who need help paying bills often turn to pre-settlement funding to help stay afloat while they wait for their personal injury case to reach a settlement. Our loan specialists work with your attorney to discuss the details of your case to determine what is best for you. With a few details, your pre-settlement funds can be in your hands within 24 hours.
Your personal injury attorney will let our team know the likelihood that your lawsuit will result in a settlement. A lawsuit settlement is required to be approved for pre-settlement funding. They will estimate what your case is worth to help us determine your pre-settlement fund amount.
After speaking with your attorney and deciding the value of your settlement, we will send over documents for you to review. Funds can typically be available within 24 hours. Generally, you can receive between 15-20% of your settlement amount in pre-settlement funding.
Why Taking Out a Personal Loan Is a Bad Idea
A common misconception is that pre-settlement funding is the same as a personal loan. After an accident, you are likely to need money to pay bills and medical expenses. Some people mistakenly turn to personal loans to cover those expenses.
With a personal loan, you must be able to show that you have good credit. They will check your income to ensure you can cover monthly loan payments. No matter the outcome of your lawsuit, you will have to pay the loan back.
If your personal injury case goes to trial, you may recover less compensation than the personal loan amount you originally took out. If you use your personal loan funds to cover medical expenses and bills but remain out of work after your lawsuit, you will need to find a way to pay the loan back. Personal loans typically have a high interest rate or require collateral to back the loan.
Get Ready to Spend Your Lawsuit Loan Money
Pre-settlement funding can be used for many different purposes. Once the funds have been approved and are transferred to your bank account they are yours to use as you see fit. Typically, funds are used by injury victims to handle immediate financial obligations such as:
- Rent or mortgage payments
- Electric bills
- Medical expenses
- Car payments
- Tuition expenses
- Grocery expenses
It is important to remember that pre-settlement funds are limited to a portion of your settlement amount, and you should use your funds responsibly. Saving part of your funding for future needs or monthly payments may be a smart idea. In any case, whatever you decide to use your funds for is completely your choice.
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Important Information About Repaying Pre-Settlement Funds
Pre-settlement funding and personal loans are very different in how they are repaid. With personal loans, repayment is non-negotiable, and interest will continue to accrue throughout the life of the loan. Personal loans require minimum monthly payments.
Pre-settlement funds are quite the opposite with repayment and risk. With pre-settlement funding, the funding company holds all the risk, and the borrower holds none because lawsuit loans are non-recourse. Repayment of pre-settlement loans is solely based on the settlement of the personal injury lawsuit and never has any monthly repayments.
Your pre-settlement funding is approved based on the chance that your case will result in a settlement. If your case takes a bad turn and does not reach a settlement, there will be no repayment to the funding company. In the majority of cases, unless outlined otherwise in your agreement, pre-settlement funds are non-recourse loans, and funding companies cannot and will not go after the borrower for repayment.
Call Silver Dollar Financial for Pre-Settlement Loans in Dallas Today
If you have found yourself injured in Dallas and have mounting bills and cannot seem to make ends meet, it may be time to inquire about pre-settlement funding. Being injured and out of work can be stressful, and having no way to cover bills can feel overwhelming and hopeless. Your family should not have to suffer because someone else caused your injuries.
Personal injury lawsuits can often take several months to years to reach an agreeable and fair settlement. By removing the pressure of settling quickly, your attorney can work towards a higher settlement on your behalf. The defendant and their lawyer will have lost the upper hand.
We want to help you focus on what is most important- your recovery. Allowing us to handle the financial aspect of your case frees you up to worry about getting better. Contact Silver Dollar Financial today using our secure online form to discuss how pre-settlement funding can help you.