Clients always want to know when their lawsuit will be settled, particularly if they are out of work and recovering from injuries. Earning a living while their lawsuit is pending is likely a major concern for your clients. Income from employment is used to maintain shelter, food, and pay for unreimbursed medical expenses. Once the basics are covered, then the household bills have to be paid like transportation, utilities, and debt. When is the best time to recommend a pre-settlement loan for client needs?
“Can I Get a Pre-Settlement Loan for My Case?”
You should expect your clients to ask you about pre-settlement loans sooner rather than later. Be prepared to offer advice and counsel on whether they have good reasons for client settlement loans. Pre-settlement loans are not appropriate in all cases, and you should be well-versed in the pros and cons of such loans and whether your client has reason for loan against settlement.
Capital Financing provides pre-settlement financing to plaintiffs who have been injured and are pursuing personal injury lawsuits and workers’ compensation accident claims. We arrive at a loan amount after we review your client’s case by examining medical records, accident reports, the pleadings, any court submissions, and wage and income records. The loan amount is an advance on the case settlement and is paid at the conclusion of the lawsuit. To bridge the financial gap during your client’s recovery period, consider having them get pre-settlement funding.
Identify Legitimate Reasons for Pre-Settlement Funding
As mentioned above, pre-settlement loans are not appropriate in all cases. If your client comes to you requesting a pre-settlement loan to purchase a car, you should probably counsel against it. If your client is behind in rental payments or a mortgage, a pre-settlement loan may be necessary to help them through their financial crisis. As the lawyer, you should be knowledgeable about your client’s financial condition and financial support system. Similarly, if your client is really sick or has a long recovery period ahead and money is needed now to survive, a pre-settlement loan may be appropriate. A good rule of thumb is to analyze your client’s lost wages, medical expenses, and recovery status, and weigh those against a specific need like food, housing, and other living expenses.
How We can Help Your Clients
We fund victims of on-the-job injuries, car accidents, biking accidents, motorcycle accidents, slip and fall accidents, premise liability accidents, medical malpractice, products liability, dog bites, and assault cases. We handle all communications with your client about their legal funding request or loan application. You will be required to provide us with regular updates on the case status, after you provide initial case documents. Ask us how pre-settlement funding can help your client. Your client can Find Out if we can help by calling us, toll-free at (888) 247-6998. Georgia residents can call (404) 348-4475 directly.
