Settling a personal injury case can take time, but receiving a pre-settlement loan doesn’t have to. Your rent, mortgage, or medical bills can’t wait years (or even days) to get paid. Fortunately, your expenses can be covered when you receive a same-day pre-settlement loan. We’ll now explain how the process works.
How Do I Get a Pre-Settlement Loan the Same Day?
Oftentimes, waiting to be approved for a loan can be frustrating. But pre-settlement funding doesn’t work like a traditional loan. It’s backed by the payout of a future settlement. The funding company just needs information on your case and its chances of winning to decide on an offer.
For this to happen, the lender must speak with your attorney. Receiving the funds on the same day you apply is determined by your lawyer’s availability and preparation. If they have the required information on hand, the legal funding company can expedite the process. To receive your funds as quickly as possible:
- You must begin the process earlier in the day.
- Get your attorney’s approval so they can prepare the necessary documents.
- Provide as many details as you can about the lawsuit.
Challenges of Same-Day Pre-Settlement Funding
A lawyer often has a busy schedule filled with client appointments, paperwork, and court appearances. They must be available to speak with the funding company and provide relevant files. That’s one reason to discuss the matter with them in advance. An underwriter can take six to 12 hours to evaluate the case, so your lawyer’s cooperation is essential.
The status of your claim is another factor. The funding company assumes more risk if the claim hasn’t been settled yet. For settled claims, funding can often be approved sooner as a decision has already been made in the case. You will get the settlement proceeds at some point; settlement funding just gets the cash to you a little faster, so you don’t have to wait.
Advantages of Same-Day Pre-Settlement Loans?
A settlement, whether it involves negotiation, mediation, or a jury verdict, can take months or years. Receiving the funds requires even more waiting. But with a pre-settlement loan:
- You can pay the bills, buy groceries, and keep the lights on.
- There’s no collateral or credit check; the funding is non-recourse and paid with a portion of your settlement.
- The cash advance is paid back only if your case wins and you receive enough cash to cover it.
- The value of your personal injury settlement can increase, as you’re less likely to accept a lowball offer.
- Your attorney has more time to negotiate a settlement that fairly compensates for your damages.
Legal Funding Is Simpler Than You Think
To obtain same-day legal funding, a personal injury attorney must be handling your accident claim. The loan is to cover your current expenses. Your lawyer won’t be paid until your case settles and the proceeds are received. To apply for same-day pre-settlement funding, fill out our online form and include some details about your accident. We’ll also collect information from your attorney to determine how much funding to offer.
When you receive our offer, you can accept as much as you think you need. Clients are often unable to work yet have bills to pay, so you must think about what’ll get you by until the end of the case. Once you accept our offer, we can provide an advance of up to $100,000 in 24 hours.
Apply Today To Receive a Same-Day Pre-Settlement Loan
Fund Capital America provides non-recourse legal funding with no out-of-pocket or upfront payments or fees. Our process is completely paperless and each loan includes term-based payback. We’ve helped many personal injury clients, who were injured in accidents of no fault of their own, get the cash they need. To receive same-day pre-settlement funding, apply online with Fund Capital America today.