One of the primary concerns most borrowers have when getting pre-settlement funding is whether or not the defendant’s insurance company will know they got funding. The knowledge of obtaining pre-settlement funding can allow the defense to know about your challenging financial situation and may use that information against you during negotiations or trial. The defense will only know if you received pre-settlement funding if you decide to take your claim to court.
Overall, even if the defense does become aware of your receipt of pre-settlement funds, this does not negate their benefits. If you need money fast and want to hold out for a proper settlement, call Silver Dollar Financial today. Let us help you get started on your application to get started on reclaiming your life after your accident. You can reach us at (877) 871-0628.
How Will the Defense Know I Received Pre-Settlement Funding?
There are two scenarios in which the defense can find out you received pre-settlement funds.
Poor Privacy Practices from Your Lender
The last thing you need is added stress about identity theft and sensitive information getting leaked to others. Always ensure that the lender you choose to provide you pre-settlement funding puts your privacy above everything else.
When Your Claim Goes to Trial
If your claim settles out of court, then there is no need to reveal that you obtained funding. However, if your claim goes to trial, you may have to make it known that you received pre-settlement funding. Whether or not you need to reveal you got funding is up to the laws of your state. Some states will require you to, while others do not.
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Is it Bad if the Defense Knows I Have Pre-Settlement Funding?
Not really. There’s no likely reason to fear the defense or the insurance company knowing that you obtained pre-settlement funding. While there may be some ways they can use it against you, it’s not likely they will. Instead, they might see it as you anchoring down and willing to fight longer for a good settlement.
This may potentially get the insurance company to settle quicker. Both the defense and the insurance company do not want to fight a dragged-out legal battle in court any more than you do. They only threaten to do so if they know they can stall out the process, so you accept a settlement that is less than what you need.
By making it aware that you have the money you need to hold out against their strategy, they may just rush to settle quickly.
How Exactly Does Pre-Settlement Funding Benefit Me?
You can utilize pre-settlement funding in a variety of unrestricted ways:
- Pay for living expenses such as food costs and utilities.
- Pay for rent and mortgage
- Cover your medical expenses
- Pay for vehicle repairs or replacement
- Pay for school fees and tuition fees
By covering all of these expenses, you can afford to wait while your lawyers negotiate and fight for your compensation. The funding you receive is in the form of a non-recourse loan which, according to the Internal Revenue Service (IRS), is heavily favored to the borrower because of its lack of liability on the borrower’s end.
If you do not win compensation for your damages, you do not have to pay us back for any funding you used. We will not hold you liable for any of the loss, and we will not seek to recuperate for your loan at your expense.
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Even though the Official Code of Georgia Annotated (OCGA) §9-3-33 states that there is a two-year deadline to file a claim for compensation, there is no equivalent deadline for when you should receive compensation should you win. You can wait for several months and even years for a settlement to finally get awarded.
Silver Dollar Financial can provide you early access to your settlement quickly through our many pre-settlement funding options. You can apply easily for free by:
- Submitting an application online or scheduling an appointment over the phone.
- Wait for our team to review your application.
- Receive notification of approval in as little as 24 hours.
You can receive up to $100,000 of funding fast, depending on the merits of your case and how much your settlement is worth. We will work hard to get you the money you need as soon as possible.
Apply Now for Pre-Settlement Funding
Call Our Offices and Get Financial Assistance Today
Allow the team at Silver Dollar Financial to help you get the best settlement possible. We can provide you fast financial assistance. All you need to do is apply. There is no risk and no obligation when you do. We take great care to protect your privacy and do not partake in any predatory practices. We are honest, compassionate, and, most importantly, transparent to all of our clients. Call us today at (877) 871-0628 to get started.