If you have been in an accident, you may find it difficult to make ends meet. Depending on the degree of your injuries, you may be unable to work and saddled with expensive medical bills. To help cover your damages, you file a personal injury claim. However, it may be a long time before your case comes to a satisfying conclusion — meaning months or even years. Until your case settles, how are you going to get a grip on your finances and continue living your life?
Pre-settlement funding may be the answer. Find out what it is and how it differs from a loan.
How Does Pre-Settlement Funding Work?
In many injury cases, people find themselves unable to work or forced to work at a lower wage. This can keep them from receiving a steady stream of income, which in turn makes it difficult for them to cover their bills. If you have recently found yourself in a similar situation, the last thing you want or need is to fall behind on your bills and end up in unwarranted debt. If you do not have access to a source of income, you may find yourself paying for bills with credit cards or skipping payments altogether.
Before your case is settled, you can get cash now in exchange for a portion of the settlement later. While there is generally no limit on the amount you can get, you can only receive a portion of your expected settlement amount.
How is Pre-Settlement Different From a Loan?
When you get pre-settlement funding, you are not borrowing money that you are expected to pay back. Instead, you sell a portion of your future settlement in exchange for cash now. Once you reach a settlement with your case, you will not have to worry about making payments over the next few months or years.
How Much can You Get?
The amount of pre-settlement funding you receive will depend on the estimated value of your case. You will have to talk to your attorney to find out how much you may be able to recover and how long the case will take to settle.
That said, most pre-settlement funding companies will offer 15 to 20% of the value of your case. With Capital Financing, you can get approval in as little as a day.
Keep in mind you will need to pay advance fees. Some companies may make you pay advance fees and interest for as long as it takes your case to settle. Capital Financing will terminate advance fees after 12 months, no matter how long it takes your case to settle.
Call Capital Financing
Waiting for a civil lawsuit to settle can be a long and tedious process. The process can be even more painful if you are unable to work, leaving you strapped for cash.
You can use pre-settlement funding to pay for any outstanding medical bills, rent, utilities, and more. Consult your attorney before you decide whether or not to receive a pre-settlement cash advance. Once you have all the information you need, call Capital Financing to find out how much you can get.