Reasons Why You Should Consider Pre-Settlement Finding
When you get involved in an accident there is a high probability that your life can face a lot of changes that can be devastating. Also, your finances can be messed with greatly. If you get injured and going to work is something that you cannot do any more then your bills will begin pilling up. To add to that any other bull that may result because of the accident will begin accumulating. Even though you may decide to file a personal injury lawsuit you may be stuck while waiting for the legal process. At this point, a pre-settlement funding will prove to be so helpful. This will go a long way in easing your financial challenges as you wait for a legal process to end. Below are a number of reasons why getting a pre-settlement funding is a great step.
To start with, your credit score will not factor into the application you make. Unlike taking a traditional loan, the credit history that you have is with no bearing on if you actually qualify for a pre-settlement funding. The basis on which your qualification for the pre-settlement funding is determined is the details that your lawsuit has. To add to that it also determines the amount. If you have a case that is strong high chances are you will get the funding.
The second benefit is associated with the fact that you will be capable of getting a good lawyer. Too often, most victims see it not fit to undertake legal action. This is maybe because of the time that the process may take. Also the cost of hiring a lawyer may cause them to do that. With a pre-settlement funding, one can go ahead and get themselves a lawyer. And this is good as it will put you in a better position of winning a case. Also, the good thing is you are likely to get a higher settlement.
The other advantage of pre-settlement funding is that paying back the lawsuit advance is not something that you will be required to do. This is because a lawsuit advance is not the same as a loan, you will not be required to pay back. Even if you end up losing your case. The lender gets payment from your settlement, not you.
To finish with, you are going to obtain your money in a really short time. Loans can take so long until they are approved and funded. This is not the same in relation to pre-settlement funding.