Pre-Settlement Funding Vs. Lawsuit Loans
Legal Funding in California
Injured clients regularly spend many months and even years waiting to receive financial compensation through a personal injury claim. If they are too injured to go back to working, they may be at a loss as to how to cover their expenses. It could be possible to apply for disability, but even if they qualify this is often not enough to pay the bills.
The Trusted Alternative to Lawsuit Loans
A pre-settlement fund is a sound option for the injured: as an advance on their injury settlement, this can provide the cash that is needed quickly so bills can get paid. This funding is not a loan, but rather an advance which is repaid only if the plaintiff wins the case. Otherwise, no repayment is required.
Loans, on the other hand, must be repaid to the lender in installments, no matter the outcome of the case. A lawsuit loan would therefore place the injured under considerable distress if their case is lost. Without being able to work, the plaintiff would now have an additional payment to make to the lender, possibly leading them to default. This could mean losing their home or automobile and doing serious damage to their credit.
Pre-settlement Funding in Los Angeles & Throughout California
The exact amount of the offer made by a California pre-settlement company would be determined in conjunction with their personal injury attorney based on how likely their case would be to settle. No collateral is needed in order to qualify for settlement funding, and because the advance is based on the viability of the case, there is no need to evaluate the injured party’s credit.
Lastly, unlike a lawsuit loan which can include fees and interest payments, a pre-settlement advance involves repayment of an amount determined earlier.
Are you too injured to work? Get the relief you need with pre-settlement funding through FCA Legal Funding and get rid of the anxiety associated with being unsure of how your bills will get paid. Focus on your recovery—call FCA Legal Funding today at (310) 424-5176.