Waiting for payout of a legal settlement can be tough, particularly when you are unable to work, having to attend court and facing mounting medical bills and other expenses. Mayfield Settlement Funding offers litigation financing to those who need money now, and cannot afford to wait until their settlement is dispersed. Also referred to as pre-Litigation Financing or lawsuit funding, litigation financing is a great way to prevent financial disaster or hardship and live comfortably while waiting for your lawsuit to settle.Simply put, litigation financing simply means getting a “cash advance” against the money you expect to be awarded from the insurance company or in a lawsuit. There are many lenders who offer this service, and most guarantee that in the event you are not awarded a settlement, no repayment to the lender is required. One advantage of litigation financing over conventional loans is that no physical collateral is necessary, which speeds up the process since the lender already knows approximately what your settlement is worth. The funding company is reasonably confident that you will win your settlement, and that the advance will be reimbursed. If approved, you can have the money you need in as little as 24 hours.
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Litigation financing is ideal for those who need to pay medical bills, household expenses, legal fees and other costs but who are unable to work due to their injuries. Spending the necessary time in court coupled with the inability to work can put you under undue stress and financial worry. Additionally, many people receive their settlement in structured, smaller payments which can also cause financial hardships. Litigation financing allows you to get a lump sum upfront, so that you have the money you need for financial obligations. You can then repay the funding company with the structured settlement payments you receive.
There are many companies that offer litigation financing, each with their own advantages and disadvantages. To ensure that you get the lowest possible interest rates and the best terms, it is to your benefit to do a bit of research and comparison between various lenders. Your attorney may be aware of reputable lenders that he/she would recommend after positive past experiences. You want the best possible advance available to you, so that you can get your money now but enjoy low interest rates so that you still have a substantial amount of your money after repaying the advance.
At Mayfield Settlement Funding, we make litigation financing an easy and painless process; when you need money right now, count on us for professional, dependable and expedient service.
Call us at (855) 851-5249 or visit our immediate service page to have one of our friendly Litigation Financing specialists assist you today.