Going through any type of legal issue often means you will have trouble covering your expenses. Whether you suffered a severe injury in an accident caused by someone else’s negligence or had to file a complaint, which ultimately resulted in significant financial losses, when negotiating with an insurance company or bringing your case to court, expenses can quickly pile up.
Fortunately, getting a cash advance on your anticipated settlement is an excellent way to avoid financial ruin. However, you may have serious concerns that the insurance company could prevent you from accessing the financial support you need when you need it most.
Thankfully, the insurance company’s opinion does not factor into Silver Dollar Financial’s decision to approve or deny your application for pre-settlement legal funding. Here is more about what you can expect when you apply for a lawsuit loan and what impact the insurance company has, if any, on the outcome of your case.
Most Insurance Companies Will Be Cooperative
One of the top concerns lawsuit loan applicants have is whether the insurance company can step in and prevent them from recovering the compensation they need now. The good news is that our loan specialists never speak with the insurance company you are negotiating with.
We need to get in touch with your legal advocate to verify your expected payout and determine how long it might be before your case is resolved. However, we do not consider the insurance adjuster’s statements or anything else concerning your insurance negotiations as part of our application review process.
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What to Do if the Insurance Company Tries to Stop Your Cash Advance
If you suspect the insurance company you are dealing with is attempting to prevent you from obtaining a cash advance on your anticipated payout, the best thing you can do is reach out to your attorney for help.
Your lawyer has a fiduciary duty to always act in your best interests. They may be able to take legal action if the insurance company stands in the way of your right to compensation.
Lawsuit Loan Eligibility with Silver Dollar Financial
An insurance company cannot stop Silver Dollar Financial from approving your lawsuit loan. However, you must meet our eligibility requirements as well. First and foremost, if you are applying for pre-settlement legal funding, you must be at least 18 years old. We are not able to approve applications at this time for minors.
Next, we need to determine whether there is an anticipated settlement and how much we might be able to authorize. To do this, we will need to speak to your lawyer.
You must have a lawyer working on your case for your application to be approved. We will need to speak with your attorney so we can verify your expected payout and get an idea of how long it might be before your case is settled. This will help us determine how much legal funding we should send to your bank.
What Happens if Your Application Is Denied?
Most times, lawsuit loan applications are only denied when applicants do not meet the criteria for claim approval. However, if there was a mistake made on your application or you needed to provide us with additional supporting documents or contact information, we may be able to overturn our decision to deny your request for financial support initially.
Apply Now for Pre-Settlement Funding
How to Apply for Pre-Settlement Legal Funding
Where the insurance company is standing in your way in fighting back after you have filed a claim against one of their policies, you can apply for legal funding through Silver Dollar Financial. Our application process is straightforward.
You will need to provide us with your name and contact information and that of your attorneys. You may need to provide additional documentation to support your case, which might include medical records, police reports, and other valuable details. This way, our loan specialists can feel confident that a payout is expected.
After you submit your application, our loan specialists will review it in detail and reach out to your attorney for verification. We will discuss with them how much you are expected to be awarded so we can figure out whether we should authorize up to 20% of your anticipated settlement. If your application is approved, the funds could be in your bank account in 24 hours or less.
How to Spend Your Pre-Settlement Loans
One of the benefits of lawsuit loans is the lack of restrictions and limitations. This money is yours. We are just helping you access it ahead of time. This means you can spend your legal funding however you need to.
Some of the most common costs former pre-settlement loan recipients have reported include:
- Outstanding medical bills
- Credit card debt
- Housing costs
- Gas, Internet, and utilities
- Grocery and toiletry expenses
- Extracurricular activities and entertainment costs
- Insurance premiums
- Other necessary living expenses
What Happens if Your Attorney Loses Your Case
One of the top benefits of our non-recourse loans is the lack of personal risk. When you take out a bank loan, you will need to pay back the personal loan if your attorney loses your case.
However, if your lawyer does not win in insurance negotiations or at trial, you do not have to pay back your legal funding. Similar to how your personal injury or civil lawyer works for you on contingency, our loans can only be repaired with your awarded settlement.
Apply for Legal Funding with Silver Dollar Financial Today
The insurance company has no bearing on whether Silver Dollar Financial will approve or deny your application for legal funding. The only impact the insurance company could have on your case involves your insurance settlement. Even then, it is up to your attorney to negotiate the terms of your settlement with the insurance company.
Your ability to access pre-settlement legal funding is not determined by the insurance company but rather by what your lawyer expects you to be awarded through your insurance settlement. If you are ready to take back control of your life and get the financial support we are offering, do not hesitate to fill out our online application today. You can also reach us by phone or through our convenient contact form if you have questions about how pre-settlement loans work or our eligibility criteria.