Lawsuits can take months or even years to resolve, and it could potentially take a long time to get your money even after a settlement is reached. For those who have suffered from the side effects of the blood thinner Xarelto, there has been an especially long wait to be compensated. According to ConsumerSafety.org, Bayer and Johnson & Johnson settled with over 25,000 plaintiffs in a roughly $775 million settlement, but many of those victims as well as many others are still waiting for payouts.
With the often dangerous side effects of Xarelto, many who suffered simply can’t wait forever for a settlement. Increased medical costs and lost wages from the harm done by the drug have caused serious financial hurdles for many, but a Xarelto lawsuit loan could give you the funding you need now without waiting on a settlement payout. Lawsuit loans, also commonly referred to as pre-settlement funding, can be a great tool to borrow against a future settlement and get the funding you need right away.
How Can Pre-Settlement Funding for My Xarelto Lawsuit Help Me?
The damage Xarelto did to your health is already done, and you’re likely paying for the complications of it already. While you are waiting for your settlement payment, bills are still coming in and without proper funding now you could end up paying a small fortune in late fees and interest. Gaining access to the money that you’ll eventually receive right away gives you more flexibility to take care of your own financial situation.
Waiting an indefinite amount of time to receive your compensation could actually deplete how useful that compensation is, as health-related expenses can potentially compound over time. Waiting for a settlement to compensate you for costs you’ve already paid potentially adds even more layers of expense onto the damage caused by your illness, including:
- Interest and fees from discontinuation of services or repossession
- Long-term damage to credit profile and score, resulting in reduced future opportunities
- Limitation of access to certain medical specialty treatments
If you haven’t reached a settlement in your case yet, a lawsuit loan can be a great tool to get better negotiating clout. Often the opposing side in a lawsuit knows that you need money now, otherwise you wouldn’t have filed a suit. Getting the breathing room that you need through pre-settlement funding prevents you from getting desperate and lets you take as long as you need to negotiate a fair settlement.
How do Xarelto Lawsuit Loans Work?
A Xarelto lawsuit loan is a type of non-recourse funding. These types of funding essentially borrow against one asset as collateral for the entire debt, leaving you with no personal responsibility beyond your settlement. Since you’re borrowing against money that you will eventually receive, they can be much easier to get than other types of loans. Once you’ve received your funding, there won’t be any repayments due until after you have actually received your payout or settlement from your case.
To get pre-settlement funding, typically you’ll just need to have your attorney send in a few details about your case. The third-party funder will then evaluate your case, and if you’re approved, you could get money in your account to spend on whatever you need in as little as 24 hours. Once your settlement is awarded, your attorney will distribute the repayment for the loan right away.
Are there Hidden Costs or Credit Requirements for a Xarelto Lawsuit Loan?
Lawsuit loans can usually be approved with little to no input from your credit history whatsoever. Since pre-settlement funding is all about your eventual settlement, case details are much more important than your financial infrastructure to getting you approved. Since your attorney already has all the relevant information about your case, this makes it incredibly easy to get approved.
A third-party funder will take a small profit on their investment when your settlement is finally in your hands. With a trustworthy financier, all fees will be clearly disclosed and discussed before you agree on any loan. Remember to discuss any lawsuit loan you are considering with your attorney before signing anything.
How much Pre-Settlement Funding could I Get?
When you are approved for pre-settlement funding, your immediate financial need is taken into account in the amount you are awarded. Between this amount and what your settlement is likely to be, a loan expert can generally give you a firm estimate early in the application process. Here at Silver Dollar Financial, we regularly approve pre-settlement funding for as much as $100,000 in as little as a day.
What Happens if I Lose My Case?
Since pre-settlement funding is a non-recourse loan, you can’t be held personally liable for any debt beyond the collateral that you took out the loan with. This means that since you’re borrowing against an eventual court awarded payment or settlement if you lose your case or never reach a settlement, you owe nothing back for the loan. This means that lawsuit loans not only get you the funding you need right away but also help mitigate some of the risks that go with complicated procedures and legal processes.
Get the Funding You need Now with Silver Dollar Financial
Here at Silver Dollar Financial, we know that long, drawn-out lawsuits with major companies can leave you paying the costs, even long after you win sometimes. Our pre-settlement funding is designed to give you the financial freedom to take care of what you need to right now, without continuing to wait on the compensation that you’re entitled to. If you’re ready to stop waiting for your Xarelto settlement, apply for a lawsuit loan with Silver Dollar Financial today.