If you have slipped and fallen, you may already have a lawsuit underway. You could be expecting a hefty payout, but unfortunately, it could take a while. Depending on the details of the lawsuit, you could be waiting for months or even years before you receive the settlement payout.
You are still hurt during that time, but your life must continue. Bills pile up, medical fees can become a problem, and you may have taken a hit to your capacity to work and make back those wages.
You may wish you could get that money sooner, and luckily, it is possible. Continue reading to better understand how to get a premises liability cash advance on your slip-and-fall settlement.
What Is a Cash Advance on a Lawsuit?
A personal injury lawsuit settlement loan is a way to get a cash advance on an impending lawsuit settlement. You figure out with a lawyer how much you can reasonably expect to make based on the case details, and you are loaned that amount with the understanding that when the settlement pays out, you owe it to the lender.
It is usually a quick and easy process, but one needs to be careful. Different lenders will have different rules, though generally, you have interests and fees to worry about. Generally, however, your cash advance is based on the amount you should receive for your lawsuit, meaning your loan can be paid back immediately once your claim settles.
Usually, if you lose your lawsuit, you do not have to repay the loan. You should be presented with all of these details before agreeing, so be sure to review every bit of it with your lawyer. It is a useful way to get an advance on your loan, giving you the leeway you need after an accident.
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How Much Can I Expect from a Slip and Fall Settlement Advance?
The amount of your advance depends on how much your lawyer is seeking and how much you need. The severity of the case is the most significant factor. Others include how badly you were hurt and to what extent the establishment responsible was negligent.
In some cases, you may be in need of more money at the moment than you are expecting to make. You can apply for a higher amount in your loan, but always remember that you will have to pay it back.
If you accept some pre-settlement funding and it is not enough, you can seek out more. Talk to your lawyer first to determine what you are eligible for and what you can expect. Our team is here to make it easier to stay afloat when you are hurt in a slip-and-fall accident.
Our Pre-Settlement Funding Process
With all that in mind, this should cover the steps necessary to acquire your cash advance. Your lawyer should be able to help you in more detail, so consult them before seeking a loan. Our team at Silver Dollar Financial would be happy to lend you an advance on your settlement, but it is important to go in with a plan, and we want you to be informed so you can make your own decision.
The process should be quick and straightforward, so if you feel this is right for you, do not worry too much about it. Lawsuits are stressful and complicated enough as it is, so we hope we can provide some relief. Here is what you can expect when you seek out a cash advance on your case.
Apply for Funding
You will need to start by finding a lender and applying for the funding. There are many options, and each will likely have their own terms and rules. Your best bet is to do a little research into your local options to find the best deal. Fortunately, our team works hard to keep any potential clients updated about our process and terms so you never feel unsure about what you can expect from us.
When you find a lender that suits you, they will likely have an online application to fill out. Once they have reviewed your application, they can move on to the details.
We Talk to Your Attorney
Your attorney will be able to fill in the case details and a number for the amount of money needed. This should be a fast process if your lawyer is willing to cooperate with our team.
Your lawyer may take time to ensure you know what to expect, but your lawyer also knows that certain bills may be urgent but out of your reach. Once our team has spoken with your lawyer, we will begin reviewing your case for approval or denial.
Your Application Is Approved or Denied
After reviewing your case, your application will either be approved or denied. If you are expecting any amount of money in a settlement, there is very little reason you might be denied. You should get your money quickly so you can begin to handle your expenses during the lawsuit process.
That can give you more freedom and a financial safety net during your recovery and lawsuit. Talk to our team or your lawyer if you still need financial support but have been denied.
What Fees Can I Expect on My Cash Advance?
Your fees and interest rate vary depending on the lender. Silver Dollar Financial offers low-interest rates of 5-20% of the expected value, with no hidden fees or terms. We do not charge compound interest the way other financial institutions or lenders do. That will not be the case with everyone, and there are a few potential fees to watch out for.
Loan origination, application processing, transaction fees, and underwriting are a few of the possibilities. Many factors are at play, but your lawyer should be able to help you navigate this process. Just do your research and form a solid plan, and you should be able to find an advance that lets you keep as much of your settlement as you can.
Apply Now for Pre-Settlement Funding
Get Pre-Settlement Funding with Our Loan Specialists
Silver Dollar Financial is an experienced, trusted lending company. We specialize in offering lawsuit loans and cash advances, and we are committed to meeting the needs of our clients with compassion.
If you need a cash advance on a slip-and-fall settlement, our loan specialists will be happy to hear from you. You can apply through our website or complete our online contact form and expect a speedy response to move forward with your lawsuit loan application.