Many people are owed financial compensation after an accident but cannot wait the months, even years, it often takes for insurance companies to pay them. You have a stack of bills, an inability to work, and other financial needs. In Virginia, pre-settlement funding could be a solution for you.
At Silver Dollar Financial, we offer comprehensive solutions to these tough situations. You can get pre-settlement funding in as little as 24 hours – and that means money in your hands to use as you need to.
What Is Pre-Settlement Funding?
Pre-settlement funding is sometimes known as legal funding or a lawsuit loan. It is cash that you are lent after an accident before you receive your settlement. This type of funding is yours to use as you need and want to, and that provides you with the financial support you need in tough situations.
However, there are a few things you should know about this type of funding and how it is repaid.
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Why Should You Consider Pre-Settlement Funding?
Many times, after a lawsuit, defendants will try to draw out the process as much as possible. You may know you are getting funds, but they may be working on negotiations with your attorney for a long time. Those negotiations can draw on for a long time, and the entire time, you are struggling to pay your bills.
Insurance companies do this for many reasons, but ultimately it is to push financial pressure on you, the victim. In doing so, they frustrate you so much that you cave in and agree to a lower payment, and that is not fair to you.
With pre-settlement funding through a lawsuit loan, you get the money you need now, often in as little as 24 hours, to use as you would like to. Then, you do not have to feel pressured into settling the debt for less than you are owed. You can breathe a sigh of relief because your financial needs are met.
How Pre-Settlement Funding Works
At Silver Dollar Financial, we are fully transparent with you about the process and about what you can expect along the way. Here is what you can expect to occur:
- You reach out to our team and let us know what you are facing.
- We verify the expected value of your future settlement based on available information.
- This is a non-recourse debt, which means you do not have to pay the debt from your own assets.
- You do not need any collateral to obtain this type of loan, though you need to have a pending settlement.
- When you obtain the settlement, you can use the funds to repay the loan. Typically, you pay a low interest rate on the amount borrowed.
With pre-settlement funding in Virginia, it is possible for you to get the financial compensation you need in no time, so you do not have to wait for insurance companies to make decisions about your future.
How Much Will a Pre-Settlement Loan Cost You?
There are no secrets in this process. At Silver Dollar Financial, we provide you with very clear insight into what you can expect. Costs are charged as an interest rate, and the amount of that rate depends on the amount of risk present in your situation.
The key to remember here is that these funds are available to you quickly, and you do not have to repay the funds until you receive your financial settlement.
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What Happens if You Lose the Lawsuit?
This is a very real risk that many people worry about because of high-powered attorneys and insurance companies who work tirelessly to reduce what they pay to victims. There is protection for you through pre-settlement funding, though.
If you do not receive compensation from your lawsuit, you do not have to repay your loan. That means that your personal assets are not used to repay the loan. You owe nothing if your lawsuit is lost. That can provide you with a bit of peace of mind when it comes to borrowing money.
What About Credit?
This is another unique feature of lawsuit loans in Virginia. You do not have to worry about any of those risks.
- There is no credit check completed. It does not matter what your credit score is.
- You do not have to provide any verification of your savings or other assets. You do not need collateral, except for your pending settlement, to obtain the loan.
- It does not matter if you are not working; you do not have to have income to obtain this loan. That is one of the key reasons to obtain these funds – because your injury left you unable to work.
- You do not have to have the promise of a job either. Even if you are not likely to ever go back to work, you can still obtain a lawsuit loan to help meet your financial needs right now.
Rather, you will receive a loan based on the settlement expected. That could range from $1,000 up to $100,000, depending on your lawsuit and the evidence available to you in it. More so, our team works with clients throughout Virginia and faces all types of claims against others, which includes medical malpractice, car accident lawsuits, and much more.
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Why Choose Our Team to Help You with Pre-Settlement Funding?
Silver Dollar Financial offers a wide range of supportive tools to help those who are waiting for funding from their lawsuit. You do not have time to wait, and we can offer funding in as little as 24 hours.
Our company is recognized as a leader in this industry. We specialize in these fast-paced loans. At the same time, we are always transparent with our clients about their expectations.
To learn more, simply apply with us now online. You can get more information from our team as well. Just reach out to us by calling our office.