You may suffer an injury due to another party’s negligence. At this point, you may seek damages through an injury lawsuit. At Silver Dollar Financial, we offer Mississippi pre-settlement funding in as little as 24 hours. Our lawsuit loans range from $1,000 to $100,000. To learn more, get in touch with us.
How a Personal Injury Lawsuit Works
Per Mississippi Code §15-1-49, you may have up to three years to file an injury claim. For example, a negligent motorist may crash their vehicle into yours, leaving you with an injury. You may seek compensation from this driver within three years of your car accident.
Just because you file an injury claim does not mean you will get compensation. The legal system offers no guarantees, even if you have a strong case. Fortunately, a pre-settlement loan ensures you receive money, regardless of whether you secure damages.
You may request a legal loan based on your injury lawsuit. The team at Silver Dollar Financial can teach you about our Mississippi pre-settlement funding options and help you get a lawsuit loan that meets your expectations. For more information, reach out to us.
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What a Pre-Settlement Loan Offers
Many types of funding are available based on legal cases. A lawsuit loan works in a similar way as a traditional one. Yet, there are several differences between pre-settlement funding and standard loans.
When you apply for a traditional loan, you may have to undergo a credit check and have your income history reviewed. Along with this, it may be days or weeks before you find out if your loan request has been approved. If a lender accepts your request, you will have to pay back your loan in accordance with their terms and conditions.
Comparatively, a legal loan company only asks for your contact information and details about your injury case. You may get approved for a lawsuit loan as soon as the next day. If you do not win or settle your case, you are not required to repay your pre-settlement funding.
Pre-Settlement Funding Benefits
Many people view lawsuit loans as flexible alternatives to other short-term funding options. A legal loan gives you money you can use however you decide. If you get damages, you are then required to pay back your loan.
The legal loan application process is less invasive than the one required for standard funding options. A pre-settlement loan company ignores your credit score and income history. This makes legal funding a viable option for individuals with low or no credit and little to no income.
In addition, a pre-settlement loan is 100% based on your case result. Your legal loan provider takes full responsibility for your balance if you do not receive compensation. In this situation, you keep your entire loan amount without incurring any penalties.
Click to contact the Silver Dollar Financial Team today or Call +1(844)871-0628
Legal Loan Application Process
To get your money now, you have to submit a loan application. The entire application process may be completed in just minutes. There are three steps:
- Complete your application online or over the phone.
- Receive a loan quote.
- Finalize your loan and get your money.
You do not have to pay anything to submit a loan application. A lawyer must represent you in your litigation. Your attorney will serve as a liaison between you and your loan provider.
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When to Request a Legal Loan
Plaintiffs may request personal injury lawsuit loans while they are in the middle of their litigation. There is no telling if compensation will be awarded. By requesting a pre-settlement loan, a plaintiff is assured of having money available that they can use while they pursue their claim to the fullest extent.
If you are dealing with costly medical bills or other injury expenses, a legal loan may be ideal. Your loan may help you cover your expenses until your case is resolved. It may also ensure that you can stay afloat financially and will not have to give up on your case.
A pre-settlement loan may be beneficial to those who do not qualify for other types of funding. Since you use a projected case settlement amount to secure a lawsuit loan, you may be able to get a substantial amount of money right away. Plus, you do not have to make monthly payments on your funding in the same way you would with a traditional loan.
Pre-Settlement Loan Cost
There are interest rates on lawsuit loans. Your lender will discuss this rate with you before you receive your funding. Ideally, you will be charged simple interest.
If you are charged simple interest on your pre-settlement funding, you may only pay interest on your loan amount. Alternatively, a loan company may charge compound interest. In this situation, you may wind up paying much more for your loan in the long run.
For those who are unsure about pre-settlement loan costs, consult with a legal loan company. This gives you an opportunity to share your concerns and questions with legal funding specialists. You can then get insights you can use to make an informed decision regarding funding.
How to Pay Back a Legal Loan
You may be wondering if you are required to repay a non-recourse loan. The answer depends on your case result. If you receive compensation, you will have to pay back your loan, and your lawyer will take care of this for you.
To repay a legal loan, your attorney will deduct what you owe from your settlement. They will do this when they receive your settlement check. From here, you will get the remainder.
If your case is unsuccessful, you have nothing to worry about. Your lawyer will notify your pre-settlement funding company about the result. This company will waive your loan balance, and you are free to keep the money that was already given to you.
Get a Mississippi Pre-Settlement Loan
Silver Dollar Financial is a leading choice for Mississippi pre-settlement funding. Our team is available to discuss our legal loan options with you. To get started, contact us today.
Call or text +1(844)871-0628 or Apply Now for Pre-Settlement Funding