When looking for pre-settlement legal funding, how do you know you got the best deal? Many predatory lending services will use shady business tactics to get you to agree to terms that are one-sided and do not benefit you at all. These shady practices are no different than the exploitation insurance companies will use against you during negotiations.
To know if you got a good deal on your funding, you need to look at three key areas: quick availability of funds, ethics of the lender, and the non-recourse nature of the funding. When you need cash fast to help you hold out till you get your settlement, consider our services. Silver Dollar Financial is here to assist you through this tough time. Call us today at (877) 871-0628.
Does the Dollar Amount of My Funding Show I Got a Good Deal?
Yes and no. The dollar amount of pre-settlement legal funding you will receive depends on how much you will win from your settlement. Try to think of funding as a cash advance of sorts. Typically you can get around 15% to 20% of your settlement or up to $100,000 in funding. While the dollar amount you get is important, there are better ways to determine whether the pre-settlement funds you got were a good deal.
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Signs You Got a Good Deal on Your Pre-Settlement Funds
There are three signs you should look for when shopping for pre-settlement funding.
Quick Availability of Funds
How fast are you getting your money? Will the lender provide you the money you need right after approval, or will they “take their time”? All financial obligations are extremely time-sensitive. The longer that a lender takes to send you money, the longer your bills go unpaid, and debt accrues.
Usually, a lending service that takes a long time to send you funding is a bad sign. At best, they are very lazy and insensitive to your needs, and at worst, they are stalling you, so you end up needing more funding later on down the line. Good lending services will always give you all the money you need quickly, upfront, and without the goal to unethically get you to apply for more funding.
Ethics of the Lender
Speaking on ethics, you know you got a good deal when your lender is ethical. Some unethical lenders will try to take advantage of your financial situation and try to hijack your case. In doing so, they may pressure you to negotiate for a higher settlement not in your best interest but in the lenders so they can squeeze more money out of you.
The American Bar Association (ABA) wrote a white paper on the ethics of pre-settlement funding. In it, they described that pre-settlement funding is necessary and fills a need for many. However, you should always be cautious about your lender. It is essential that you choose a lending service that not only gives you a settlement fast but is also honest and transparent.
Pre-settlement legal funding almost always gets given out in the form of a non-recourse loan. The Internal Revenue Service (IRS) defines non-recourse loans as debts that the borrower is not personally liable for. In other words, if the borrower cannot pay back their loan, the lender cannot seek to recuperate their loss at the expense of the borrower.
If you receive pre-settlement legal funding, you do not have to pay anything back. Some lenders do not offer non-recourse loans and instead will provide a shady recourse loan as their funding method. This can put you in a really tight spot that can quickly spiral out of control, especially if you’re in a bad financial situation in the first place. If your funding comes in the form of a non-recourse loan, you most likely have a good deal on your hands.
Silver Dollar Financial Offers Pre-Settlement Legal Funding
Getting a good deal on your pre-settlement funding can be easy when you apply with us. All you need to do is:
- Apply online or call us over the phone.
- Wait for our team to review your information.
- Get notified of approval in as little as 24 hours and get your funds quickly.
We do not require a credit check or any proof of employment. When you apply with us, you know you will get compassionate, understanding, and dedicated lending services. We do not engage in any predatory practices and care first and foremost about your wellbeing above all else. Allow our team to help you get the funding you need so you can continue fighting for a settlement that truly reflects all of your damages.
Apply for Free Today
If you need cash now, call us today or apply online for free. There is zero risk and zero obligation when you contact us and submit your information. Privacy is important to us, and we will never share any of your information. We are available to help you 24/7. Call us today at