Personal injury financing is, in essence, an advance on your future settlement. You are working toward a settlement in your case to help you pay your bills, but more expenses are mounting in the meantime. Personal injury financing offers you a way to get some of your future settlement up front, keeping your bills paid while you wade through the long litigation process. Even after an agreement is reached or a verdict given, you may still need to wait for your money, as some citizens of Wisconsin are discovering while they wait on government approval in their cases.

If you have a strong case, you will be approved for financing, while weaker cases that are less likely to win may not be approved or may require additional collateral. The amount of your advance will also vary depending on the strength of your case. While the exact percentage varies from company to company, most will only extend about 20% of the expected winnings.

Benefits of Financing

In addition to having cash on hand to pay bills, another advantage to personal injury financing is that you can obtain that money without having a good credit score. Personal injury financing companies are interested primarily in the quality of your case and generally will not even run a credit check.

Perhaps the most surprising benefit is that companies typically will not require you to pay back anything if you do not win. Read the agreement carefully prior to signing to make sure that this is the case for your loan, though, as some companies still require at least partial repayment.

Improving Your Case

Money is probably tight as you pursue your personal injury case. Obtaining personal injury financing allows you to pay your bills while you await a decision or work to reach an agreement in your case. Financing may also allow you more time to work toward the most beneficial agreement for you. In other words, personal injury financing may give you a better chance to win your case because financial stress will not force you into an early settlement.

Without the stress of unpaid bills looming over you, you will have the freedom to follow your attorney’s advice. This freedom, resulting in a more favorable outcome for your case, is the most important benefit to personal injury financing.

Enlist Our Help Today

If you are considering personal injury financing, first consult with Capital Financing. We will need to provide you with some documentation, and you will find it much easier to obtain financing if your attorney is willing to work with you and the financing company.

Your attorney will also be invaluable in helping to protect your money. Traditional loans are regulated via the Consumer Credit Protection Act, but personal injury financing is not a traditional loan, since it is an advance on anticipated earnings, and is not covered by these laws. This makes it extremely important to have your attorney look over any paperwork and ensure that you are working with a reputable company.