Personal injury clients often wonder how to get money while waiting for a settlement. The purpose of a lawsuit and settlement is to get compensated for injuries, property damage, and other losses. But this compensation usually doesn’t come before medical bills, rent, or utilities are due. Nevertheless, you need not wait for your personal injury lawsuit settlement to clear before getting the money you need.
Apply for Settlement Funding After Filing Your Personal Injury Claim
Theoretically, you can apply for settlement funding any time after your lawsuit is filed. You just need to have a valid claim, have hired a personal injury attorney, and not be at fault for the accident.
Once the claim is filed, the other party can respond and make an offer. Or, their insurance company can offer a fair settlement. But this isn’t often the case. Unless your lawyer quickly negotiates a fair settlement, the case can be drawn out. It could even go to trial. Then you may not see a settlement or judgment for a couple of years.
Meanwhile, you may be injured, out of work, and have bills and debts to pay.
Applying for Lawsuit Settlement Funding Is Generally Simple
The lawsuit settlement funding application process typically involves just a few easy steps. But before applying, discuss the matter with your lawyer, as they’ll need to prepare the necessary documentation and provide the lender with information. After you apply, the lender will contact your attorney to obtain crucial details needed to match your request or decide how much to offer.
You can then accept an amount equal to what you need. Consider the offer carefully because, if you borrow too much, fees and interest can make the cash advance difficult to pay back. Or, you may end up receiving little, if any, compensation when the case concludes. However, borrowing not enough can make it hard to pay current bills.
That being said, the application process is quite fast. We’ll get the details from your lawyer, and our underwriters will determine a fair amount to offer. You may receive funding within 24 hours.
Negotiating a Legal Settlement Takes Time
Even if you avoid a trial, negotiating a settlement can be time-consuming. Negotiations can occur at any point, from before the lawsuit is filed to during discovery to during a trial. Once economic and non-economic damages are calculated, your attorney will send the other party a demand letter and wait for their response, after which negotiations can begin. These can go back and forth several times until both parties agree on a fair personal injury lawsuit settlement.
After settling, various legal documents must be signed, including an Order of Settlement that must be submitted within 30 to 60 days. Your lawyer will assume control of the settlement check when it’s received. Medical liens, property damage repair liens, and attorney’s fees will be deducted before you receive your settlement check.
How Long Does It Take to Recieve Settlement Funds?
In a perfect world, receiving the funds you’re owed shouldn’t take long. It may be one to six weeks after a judgment before your compensation clears. But many factors can delay payment. For example, the funds may not be immediately available, or the defendant can appeal the decision.
The type of settlement can also affect how long it takes. A structured settlement spreads the full amount over a series of payments spanning months to years. Such an arrangement requires some planning. Other options include a lump-sum payment or a combined arrangement that gives you half the value of the settlement upfront and the rest spread over time.
Also, if your attorney requests legal fees taken from the first few payments, you may not immediately see compensation.
Don’t Wait for Your Personal Injury Lawsuit Settlement to Get Financial Help
Fund Capital America provides fast and easy non-recourse settlement funding. Our application process takes just minutes. We can approve you for funding after speaking to your attorney and can make an offer the same day. Apply online now. Or, to learn more, call (855) 870-2274 today.
