You may suffer a personal injury due to no fault of your own. At this point, you may seek damages through an injury claim, but there is no telling if you will actually receive compensation. As your litigation moves forward, you may want to pursue Long Beach car accident loans and other forms of pre-settlement funding to help you cover your everyday expenses until your case is settled.
At Silver Dollar Financial, we are focused on providing legal funding to help clients who are waiting to receive settlements in personal injury cases. With our help, you may be able to get Long Beach pre-settlement funding in as little as 24 hours. To learn more, reach out to us.
Pre-Settlement Funding Definition
A pre-settlement loan gives you money based on a projected personal injury case settlement. Whereas a personal installment loan requires lengthy application and approval processes, legal funding does not. In addition, you do not have to make monthly payments with a legal loan in the same way you would with a personal one.
Those who are involved in an injury lawsuit may request a legal loan. You can submit your loan request online or over the phone. Once a pre-settlement funding company approves your request, you may get money you can use however you choose.
There are many reasons to pursue legal funding in lieu of a personal loan. At Silver Dollar Financial, we can discuss our funding options, how they work, and their benefits with you. For more information, get in touch with us.
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How a Pre-Settlement Loan Works
To request a legal loan, you must hire a lawyer. This gives you access to an attorney who will represent you during your personal injury case. Also, your lawyer will handle communications between you and your legal funding provider.
It may only take a few minutes to complete a pre-settlement loan application. In the application, you can provide your contact information and details about your case. A legal loan company will look at the facts of your case to determine your eligibility — and no credit check or review of your income history is required.
Next, a loan provider will send you a quote. If you accept the quote, you will get funding, and there are no restrictions on how you can use it. You are required to repay your non-recourse loan only if you win or settle your case.
Pre-Settlement Funding Cost
You do not have to pay anything to apply for pre-settlement funding in Long Beach. A lawsuit loan company does not assess any charges when you submit your application. There are no penalties if you decide not to move forward with a loan after you complete your application.
A legal loan provider will explain its interest rates to you before you finalize your funding request. If you have concerns or questions about an interest rate, share them with your loan company. This gives you the insights you need to make an informed loan decision.
You are not required to make payments on your loan for the duration of your litigation. If you receive damages, you will then have to pay back your funding. Alternatively, if your case is unsuccessful, you keep your loan and do not incur any penalties.
Click to contact the Silver Dollar Financial Team today or Call +1(844)871-0628
How Much Money You Can Get with a Legal Loan
Lawsuit loans may range from $1,000 to $100,000. How much you may receive in funding depends on your case. A legal loan company will consider what you may be awarded in damages when it prepares your quote.
Your quote outlines how much money you can receive and your loan’s interest rate. If you agree to it, you will get money you can start using immediately. Your funding allows you to pursue your injury case to the fullest extent and repay your loan if you win or settle your case.
To find out how much money you can get with a lawsuit loan, it may be beneficial to consult with a funding company. You can learn about the different types of funding available. From here, you may request a loan that meets your expectations.
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Pre-Settlement Loan Benefits
A legal loan gives you flexibility you will not necessarily find with a personal one. For example, you can pay legal fees in California with a personal loan but will have to make regular payments until your balance is covered. On the other hand, a pre-settlement loan can be used to cover your legal expenses and other costs, and no payments are required until your case is closed.
The process to get legal funding is much faster than the one required to obtain a personal loan. You may get a response to your legal loan request as soon as the next day. Comparatively, it may take days or weeks before a bank or credit union approves your loan request.
Along with these things, it is easy to pay back lawsuit funding. If you win or settle your case, what you owe is deducted from your settlement. In a situation where you do not recover any damages, you are not responsible for repaying your loan.
Legal Loan Repayment Process
If you borrow against a settlement, your attorney keeps your legal loan company up to date about your lawsuit. Once your case reaches its conclusion, you may receive a settlement. You pay back your loan balance out of this amount.
Your lawyer will get compensation from the defendant in your case. They will take what you owe your legal loan company from this amount. Finally, your lawyer will send you the remaining amount of your settlement.
If you do not win or settle your lawsuit, there is no need to repay your loan. Your attorney will notify your legal loan company about your case result. The business will cover your loan balance, and you keep the money that was already given to you.
Request a Long Beach Pre-Settlement Loan
You may be able to get a lawsuit loan right away. Our pre-settlement funding serving Long Beach at Silver Dollar Financial can teach you about our legal funding options. To get started, contact us today.
Call or text +1(844)871-0628 or Apply Now for Pre-Settlement Funding