For those who suffer a personal injury in Pittsburgh, PA, the consequences can be severe. If your injury occurs due to no fault of your own, you can sue the at-fault party, but it may take months or years before you receive compensation. Fortunately, Pennsylvania legal funding is available to help you cover your injury expenses.
If you want pre-settlement funding in Pittsburgh, Silver Dollar Financial can help you out. We can approve a lawsuit loan request in as little as 24 hours. To find out more, get in touch with us.
When to File a Personal Injury Lawsuit in Pittsburgh
You can file an injury lawsuit if someone else hurts you and causes you to suffer losses. For example, a motorist can crash their car into your vehicle, which leaves you with property damage and an injury. If this happens, you may need to file a lawsuit to get compensation, but you may also be eligible for a car accident loan.
Pennsylvania has a two-year limitation for personal injury claims. You have the option to pursue compensation from the at-fault party’s insurance company in an injury case. Unfortunately, the insurance coverage may not be enough to cover 100% of your losses, and an injury lawsuit may be needed so you can get full compensation.
If you hire a lawyer and file a personal injury lawsuit, you may be able to get a Pittsburgh pre-settlement loan. At this point, the team at Silver Dollar Financial can assist. For more information about our lawsuit loans, reach out to us.
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Eligibility for Pittsburgh Pre-Settlement Funding
You must be involved in some type of personal injury case if you want lawsuit funding in Pittsburgh. There are many pre-settlement funding options available. Common types of lawsuit loans include:
- Auto crash
- Bus accident
- Product liability
- Talcum powder lawsuit
- Transvaginal mesh lawsuit
You must have an attorney to represent you before you apply for legal funding. The benefits of hiring a lawyer are twofold. Your lawyer helps you get the best possible lawsuit results and handles communications between you and your legal funding company.
A pre-settlement funding provider looks at the facts surrounding your lawsuit and projected settlement to figure out how much money it can offer. Comparatively, it does not look at your credit or income. Even if you have a low credit score or little to no income, you may be eligible for Pittsburgh pre-settlement funding.
How a Lawsuit Loan in Pittsburgh Works
Legal funding is classified as a non-recourse loan. It is based on an injury lawsuit in which you may or may not be awarded compensation. The final result of your case dictates whether you have to repay your loan.
For instance, you can sue a healthcare provider for medical malpractice. In the worst-case scenario, a judge or jury finds in favor of the defendant. This means you do not receive any compensation.
In this instance, if you had received a lawsuit loan, you are under no obligation to pay it back. Following the conclusion of your case, your attorney notifies your legal funding company. Next, the business clears your loan balance, and you keep the money that was already given to you without any penalties.
How You Pay Back a Pre-Settlement Loan
Repayment of your lawsuit loan happens at the end of your lawsuit. You do not have to make monthly payments in the middle of your case. Instead, you and your attorney can focus on pursuing your claim to the fullest extent in the hopes of getting the most compensation possible.
You are required to repay a non-recourse loan if you receive a settlement. As an example, you can bring your case to trial, and a judge or jury awards you damages. Or, your attorney can negotiate a settlement with the defendant that allows you to avoid a trial altogether.
In either of these scenarios, you receive compensation. If you were previously given legal funding, your lawyer deducts what you owe for your loan from your settlement. Your attorney then pays back your loan company, then gives you the remainder of your settlement, which you can use however you want.
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Why People May Choose Pittsburgh Lawsuit Funding Over Personal Loans
For many people, a personal loan is the first option that they will consider if they want money right away. A bank or credit union can provide this type of loan, which a recipient will have to pay back in accordance with their lender’s terms and conditions. If you get a personal loan but do not repay it, your credit score can go down, and you can suffer other long-term consequences as well.
Even though a personal loan is a popular option for those involved in a personal injury lawsuit, pre-settlement funding may be a superior one. There are several reasons why people often choose lawsuit funding over traditional loans. These reasons include:
- No Credit or Income Check Required: With a lawsuit loan, a lender looks only at your injury case — not your credit and income information.
- Flexible Loan Options: You may be eligible for a lawsuit loan of up to $100,000.
- Simple Interest: A pre-settlement loan can come with simple interest, which is easy to understand and does not compound over time.
- Seamless Application Process: You may be able to submit your application for a lawsuit loan online or over the phone.
- Fast Approval: A legal funding company may be able to let you know if your request for funding has been approved the day after you submit your request.
If you are considering a legal loan in Pittsburgh, find a proven provider. The best lawsuit funding company can teach you about its pre-settlement loan options, explain how they work, and help you choose the right one. This business will also do everything it can so you can get the most value out of your loan.
Explore Your Legal Loan Options in Pittsburgh
Do not wait any longer to apply for a lawsuit loan. Silver Dollar Financial can help you get lawsuit funding that meets your requirements. To get started, contact us today.