A lawsuit cash advance is a financial solution that can benefit personal injury clients struggling to pay medical, legal, and daily living expenses. While they may be entitled to a settlement payout, reaching a settlement and receiving the proceeds can take months or years. A cash advance covers their expenses and is paid back later out of a future settlement. This differs from a traditional loan, but like a loan, an advance’s terms and fees can be changed by refinancing it.
How Does Refinancing Work?
In general, refinancing a loan requires working with an existing lender or new lending party and filling out a new application. Your finances will be re-evaluated. Since a lawsuit cash advance firm doesn’t use your credit, other factors such as changes in a potential settlement or the status of your case may play in. Perhaps your case is taking longer to settle yet a favorable outcome is still likely.
Various types of refinancing exist in the financial world. The most common form, rate-and-term refinancing, is when the original loan is paid and replaced with a new agreement. Fund Capital America provides a cash-out refinancing program. This means the underlying asset collateralizing the loan has increased in value. The value or equity in the asset is withdrawn and exchanged for a higher loan amount. While the borrower retains ownership of the asset, they also have immediate access to cash.
Why Should I Refinance a Lawsuit Cash Advance?
Cash advance refinancing provides additional flexibility during a lawsuit. It gives your attorney more time to negotiate and fight for your rights. Also, it can help lead to a better settlement outcome. Some of the stress experienced during the process can be alleviated as well.
Meanwhile, refinancing a lawsuit cash advance may also have these benefits:
- An extended repayment period.
- Reduced interest rates.
- The loan can be paid off sooner.
- An additional cash advance can be included.
- Cash-out options for cases previously self-funded.
Am I Eligible for Cash Advance Refinancing?
The eligibility requirements to refinance a lawsuit cash advance may differ from those of your initial application. You must have legal representation and have already received a cash advance on the settlement. An attorney representing a client, who has attained financing to fund their case, is also eligible. They may have even received a cash advance from a different company or initially self-funded the case. Cash advance refinancing can also apply to recipients of medical-legal financing.
Apply for Lawsuit Cash Advance Refinancing with Fund Capital America
We are here to help manage the financial aspects of a lawsuit. Cash advances, refinancing on those advances, and other financing options are available to eligible borrowers. These can benefit attorneys and their clients. Fund Capital America provides non-recourse cash advances on pending lawsuits involving auto accidents and other personal injury cases, as well as product liability. We also offer a comprehensive set of legal services, including:
- Pre- and post-settlement funding
- Settlement fee acceleration
- Insurance liability research
- Doctor and medical facility directory
- Doctor and medical facility scheduling
- Law firm banking
- Medical receivables and provider banking
Apply online to be quickly pre-qualified for lawsuit cash advance refinancing. Call 855-870-2274 today to learn more about this and other legal services we offer.
