If you are a plaintiff in a personal injury case and are in need of financial assistance while waiting for your case to settle, pre-settlement financing may be an option for you.
Pre-settlement financing, also known as lawsuit funding or litigation funding, is a type of financial service that provides plaintiffs with a cash advance on the potential settlement or award from their pending case. This can help cover expenses such as medical bills, lost wages, and other costs related to the injury.
When applying for pre-settlement financing, it is important to understand that the funding is not a loan, but rather an advance on the potential settlement or award. This means that the plaintiff does not have to pay back the funds if the case is not successful.
It’s important to research and compare different pre-settlement financing companies to ensure that you are working with a reputable and reliable provider. Be sure to ask about the fees associated with the funding, as well as the repayment terms.
It’s also important to keep in mind that pre-settlement financing can have an impact on the settlement negotiation of your case, and it may reduce the amount of money you ultimately receive from your settlement or award. Therefore, it’s a good idea to discuss this option with your attorney before proceeding.
In summary, pre-settlement financing can be a useful option for plaintiffs in personal injury cases who are in need of financial assistance while waiting for their case to settle. It is important to research and compare providers, understand the fees and repayment terms, and consult with your attorney before proceeding.