You submit a workers’ compensation claim, but are unsure of when you will get money for your on-the-job injury costs. Meanwhile, you are worried about how you will stay afloat financially while you cannot work. Thankfully, help is available. Georgia workers’ compensation lawsuit loans are risk-free. They allow you to borrow against the workers’ comp settlement you could receive soon.
Silver Dollar Financial offers Georgia pre-settlement funding loans ranging from $1,000 to $100,000. Our pre-settlement loan specialists can teach you about our legal funding offerings.
We make it easy to get a workers’ comp legal loan in as little as 24 hours. Contact us to learn about our legal funding for workers’ compensation cases in Georgia.
Why You Should Get a Legal Loan Based on Your Workers’ Compensation Claim
Workers’ compensation can be unpredictable. You can file a workers’ comp claim and expect your benefits right away. Unfortunately, your claim could be contested. In one of the worst-case scenarios, you do not receive the benefits you need, which causes serious financial problems for you and your family.
With workers’ compensation lawsuit loans in Georgia, you can get money quickly based on your benefits claim. If approved, you will receive money you can use however you choose.
Meanwhile, your claim is ongoing. If your claim is accepted, you pay back what you received from your loan. Alternatively, if your claim is denied, you do not have to repay your loan.
At Silver Dollar Financial, we take the guesswork out of pre–settlement loans. If you have submitted a workers’ comp claim and are interested in legal funding, we can help. Get in touch with us for more information about our pre-settlement funding.
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What the Georgia Workers’ Compensation Lawsuit Loans Process Entails
Before you can pursue Georgia workers‘ comp lawsuit loans, you must file a claim for benefits based on a work illness or injury. Submit form WC-14 to the Georgia State Board of Workers’ Compensation. Get legal help from a workers’ compensation lawyer as you prepare your claim. Your attorney can guide you through the legal loan process.
After you submit your claim, you can file a legal loan request to get your money now. The application process can be completed online or over the phone. It may take just a few minutes of your time. Upon completion, a pre-settlement loan company reviews your application and lets you know how much money it can provide.
If your request is accepted, you can get an advance on your workers’ compensation settlement. A legal loan company gives you a personalized quote. Once you approve the quote, the business will send you money. From here, you have the freedom to use your money however you decide.
Workers’ Comp Legal Loan Requirements
In terms of how you qualify for a non-recourse loan, there are minimal requirements. With workers’ comp lawsuit loans in Georgia, you must submit a claim prior to filling out an application. Also, you must have legal representation, as your lawyer will handle communications between you and your pre-settlement loan provider.
Whereas a personal loan requires a credit check and a review of your income history, pre-settlement funding does not. If you are worried that a legal loan provider requires a credit check or financial statement, there is no need to stress. Submit your contact information and details about your workers’ comp claim. Next, you can find out what loan options are available.
Personal loans involve regular payments, regardless of whether your workers’ comp claim is approved. Legal loans are different, as you do not have to pay back pre-settlement funding until you receive money. If, for any reason, your workers’ comp claim is rejected, you keep the money that a legal loan company gave you.
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Cost of a Workers’ Compensation Lawsuit Loan
You do not have to pay anything to apply for a workers’ comp legal loan. A pre-settlement funding company is upfront and transparent about its fees. You will not have to face any “hidden” fees if you submit a loan request and receive pre-settlement funding.
A pre-settlement funding provider will share information about its loan interest rates with you. Ideally, your legal loan provider offers simple interest instead of compound interest. With a simple interest rate, you know what you will have to pay if your claim is successful. On the other hand, compound interest can result in significant costs for you down the line.
Lawsuit loan repayment is not required until your workers’ comp case is resolved. In a situation where you do not get money, you are not held accountable for your loan balance. If you receive money, your lawyer notifies your legal loan provider. At this point, your attorney handles your loan repayment.
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How to Pay Back a Workers’ Compensation Lawsuit Loan
When you obtain a legal loan, you have the money you need to pursue your workers’ comp claim to the fullest extent. This boosts your chances of getting your desired case outcome. If you get a pre-settlement loan and are provided with money, your attorney makes sure your loan is repaid.
After you get your workers’ compensation settlement, your lawyer deducts what you owe your legal loan provider from this total. They send your pre-settlement funding company a check that covers your loan balance. Finally, you get the remainder of your settlement.
If your workers’ comp case is unsuccessful, your lawyer informs your legal loan provider. You do not have to pay your loan balance. Since your pre-settlement loan company has taken responsibility for your funding, it covers this balance in full. Thus, you keep your money and do not incur any penalties for doing so.
Get Started with a Georgia Workers’ Compensation Pre-Settlement Loan
The Silver Dollar Financial team wants you to understand what legal loans offer and why they are great options for individuals in the middle of workers’ compensation cases.
Our legal funding specialists can discuss workers’ comp pre-settlement loans with you and answer any questions you have about them. Reach out to us today.
Call or text +1(844)871-0628 or Apply Now for Pre-Settlement Funding