What Is a Lawsuit Cash Advance?
Are you waiting for your lawsuit settlement but need cash now? Find out what you need to know about getting a lawsuit cash advance.
Personal injury claims typically take anywhere from six to eighteen months to settle. If you’re facing piling hospital bills and living costs, trying to receive compensation for your injuries can nearly bankrupt you.
This is where lawsuit cash advance loans can help.
Read on to find out what a lawsuit cash advance is and if you’re eligible for one.
What Is a Lawsuit Cash Advance?
When discussing lawsuit cash advances, it’s important to understand that cash advances are not loans. The primary difference between the two is that cash advances provide enhanced security and stability for clients.
In a lawsuit cash advance, a plaintiff can apply to receive funds from their still pending injury claim. This comes in handy in the event that the individual is falling behind cash-wise due to medical bills, living expenses or lawyer fees. They need some relief while waiting for their settlement to avoid falling into debt.
Who Is Eligible for a Lawsuit Cash Advance?
Typically, someone that qualifies for a lawsuit cash advance is a plaintiff in a fairly solid injury claim. This means based upon the law office’s experience, there’s a high chance that the claim will get settled in the plaintiff’s favor.
Often, you’re required to apply for a lawsuit cash advancement, where your case will be analyzed for approval.
What to Know Before Applying for a Lawsuit Cash Advance
If you’re planning on applying for a lawsuit cash advance, it’s important to have some questions answered before doing so. For example, you’ll need to know whether or not you’re required to pay the cash advance in the event that you don’t win your case. In most cases, you won’t have to.
You’ll also want to know what fees or rates are added onto your advance. Typically, you’ll have to pay back the amount with interest in the event that you win your case.
How to Apply for a Lawsuit Cash Advance
Once you’ve chosen the company you want to apply with, it’s important to know the full process. You’ll have to fill out an application along with providing any additional information about your injury claim and it’s current standing.
It may help to schedule an appointment to discuss any details or to ask any questions you may have prior to applying for the advance.
Common Myths About Law Suit Cash Advances
It’s important to know the facts when applying for a lawsuit cash advancement. There are a number of myths surrounding such advances, and you don’t want them to hinder you receiving the money you need.
To clear a few common misconceptions:
- Cash advances do not rely on your personal credit score
- You aren’t required to pay back the advance in the event that you lose
- An advance does not function as a traditional loan
- No job or employment verification is needed
If you need further explanation, our customer service team will be able to help you.
Getting the Financial Relief You Need
Now that you have a clear understanding of what a lawsuit cash advance is and how it works, you’re one step closer to getting the financial relief you need.
The next step is to contact a litigation agent to discuss how to apply for your cash advance today.