When you are injured in an accident or other circumstances caused by someone else’s negligence, you may consider a personal injury lawsuit to recover damages. The fact is, the litigation process is often one that’s extremely slow; many injured plaintiffs just can’t afford to wait for a fair settlement. It may seem that you have no other option than to settle for les than your case is worth, out of financial necessity. This is the point when many plaintiffs consider personal injury loans to help them through the litigation process.
Many people are injured seriously enough that they cannot work for a time, or are even permanently disabled. The impact on your finances can be overwhelming, considering the medical bills keep coming in. If it may take six months or even a year for your lawsuit to settle, how can you possibly survive? Settlement funding is the route many plaintiffs choose, and is actually a cash advance against the damages you expect to win in your lawsuit. This money is available immediately upon approval of your application, so you can pay the medical bills, household expenses, and other costs while waiting to receive the full compensation you deserve for your injuries.
What about out-of-pocket expenses? With personal injury loans there are no out-of-pocket expenses or upfront costs. Additionally, the cash advance is only repaid to the funding company at the time you get your settlement, so there are no monthly payments involved. If for any reason your attorney fails to win your lawsuit, you owe nothing – you do not repay the loan.
What is the first step you should take if this sounds like an attractive option for your situation? First, retain a personal injury lawyer to represent you in your lawsuit. Funding companies will only advance money to those who are represented by an attorney. Your lawyer can explain how settlement funding works, and will provide the case documentation necessary for the funding company to determine if you qualify. Factors such as your credit score or employment status are not considered, as whether you are approved is determined by the strength of your case.
Essentially, personal injury loans help those who are injured pay the bills and live comfortably while giving their lawyers the time necessary to pursue and obtain the full damages the plaintiff deserves.
Why settle for less than your case is worth? Talk to your attorney today, or visit Mayfield Settlement Funding to learn more about this non-recourse type of funding.