If you have been in an accident and are waiting for your settlement, you are probably worried about paying bills on time and being able to afford your home and have food on the table. If you are strapped for cash, you may want to consider pre settlement funding.
This type of funding is considered a loan, which is an advancement on your pending lawsuit. This can be helpful to you in your time of need, but there are things to consider. First, you should know that monthly interest will be applied to your pre settlement funding loan. You should look for interest that is fairly low, such as 2.5 percent.
Another thing to consider is that there will usually be a one time fee for document review or some other similar reviewing of your case. This should not need to be paid at the time you receive the loan. In fact, you shouldn’t need to pay anything up front when receiving your loan. If the company you are looking into requests payment up front, consider another company.
You should also look for a pre settlement funding company that requires payment only after you have won your case. Most of these companies don’t require you to pay back the amount you borrowed if you don’t win your case. However, if you win your case, you will need to pay back the loan amount, though you won’t need to pay anything until then.
When considering pre settlement funding, you should also ensure the company you deal with will provide you the type of funding you need. Most people tend to want a lump sum of money that they can use on whatever they want immediately. However, other people want a steady amount of money over a specified amount of time. Make sure the company you choose has both options available, which could help you. It will also be important to determine the option you need for your lifestyle and bill management.
You will also want to ensure that the company you choose allows you to start receiving funds on your time. You may be setting up your lawsuit loan immediately to make sure you have everything in place for when it is needed, even if you don’t need the money immediately. Most companies are willing to start the process and then deposit the funds when and where you say.
Pre Settlement Funding could be your answer to helping you with a sticky situation whilst waiting for your settlement to go through. Resolution Funding is a highly rated pre settlement funding company that cares about helping lawsuit plaintiff during difficult financial times.Contact Resolution Funding today for professional assistance.
