Can You Get an Advance on a Pending Settlement?
One of the most common complaints about the justice system is that cases take far too long. In a civil claim, an injured person can wind up waiting for years for the compensation they deserve. For example, just the filing of a claim is allowed for up to two years after the initial injury, not to mention the time it takes to hash out a settlement with the other party or go to court if no agreement can be reached. Luckily, you can get an advance on a pending settlement, known as pre-settlement funding.
Silver Dollar Financial is a lender that prides itself on transparency and honesty. Our professional financial team takes a look at your case, approves a loan, and can get your money to you in as little as 24 hours. Since this is an advance on your settlement, it is essentially an act of borrowing from yourself.
Reasons You Should Consider Pre-Settlement Funding
There are plenty of reasons for you to want your money now rather than later. Below are just a few of the most common motives for pursuing an advance on your pending settlement.
The most basic purpose behind pre-settlement funding is to be able to pay for necessary living expenses like rent, food, tuition, or even some of the damages you suffer as a result of your injury, like medical costs or lost wages.
Combating Stall Tactics
Unfortunately, the opposing side in your case often knows that longer negotiation times are weighted in their favor. For example, you may need money for those necessary expenses and be unable to work or make your regular income. This makes you desperate for a settlement and more likely to settle for a lower offer. By getting an advance on your pending settlement, you take the sting out of the other side’s stall tactics and can hold out for the true value of your claim.
In some cases, you may have settled your case in a structured settlement format. The H.R. 5470-Periodic Payment Settlement Tax Act of 1982 made this arrangement more popular. Essentially, a structured settlement metes out your total settlement amount in smaller installments over time rather than giving you all your money in one lump sum. Though this can be useful in specific cases, you may want to get an advance through structured settlement funding so that you can control where and how your rightful money is spent.
How Pre-Settlement Funding Works
At Silver Dollar Financial, we make the pre-settlement funding process simple and transparent. Our process is broken down into three easy steps.
Apply for Funding
First, you fill out the form on our Apply Now page, giving us information on you, the law firm that represents you, and the nature of your case. If we require additional information, we will contact you or your attorney.
Silver Dollar Financial Makes an Assessment
During the review process, our experts will check out your claim and determine whether you qualify for a pre-settlement loan. Your credit score is not part of this assessment. Our team works quickly to get you your money, with some cases approved in as little as 24 hours.
The third step in our process is the most fun. Once you are approved, you can expect up to $100,000 in funds transferred to your bank account. That money is yours to do with as you please while you wait for your settlement to finalize.
Repaying a Settlement Advance
Many people are concerned with repaying a potential pre-settlement or structured settlement loan. However, you have nothing to worry about. Your pre-settlement funding is an advance on your settlement, which means you are borrowing from yourself. Once your settlement finalizes, you simply pay Silver Dollar Financial back out of that settlement amount.
Unable to Recover
Silver Dollar Financial knows that some cases do not go as planned. You may wind up without a settlement at all. While this is unfortunate, there is one thing you don’t have to stress over repayment. If you do not recover compensation, you don’t have to pay us back!
Getting an Advance on a Pending Settlement
Waiting on your case to resolve so that you can get your money? Wait no more! Fill out the form on our Apply Now page or call the Silver Dollar Financial team at (844) 871-0628 to learn more about how we can help. In as little as 24 hours, you could be approved for pre-settlement funding of up to $100,000.