Benefits of Personal Injury Lawsuit Loans
Personal injury lawsuit loans help ease some of the financial strain plaintiffs have to cope with as their cases are being litigated. Injuries incurred can result in mounting medical bills and lost wages that can make it difficult for a plaintiff to focus on his case or on his healing. Lawsuit advance funding provides the much needed cash when the plaintiff needs it most, to ensure the bills are paid until the case is settled. There are a number of reasons to consider a lawsuit cash advance when you are in the midst of a personal injury lawsuit.
Non-recourse personal injury lawsuit loans
At LawStreet Capital, our lawsuit funding is non-recourse, which means money advanced does not have to be paid back if the plaintiff doesn’t win the case. We base our lawsuit loan amounts on the likelihood of a plaintiff securing a settlement or positive jury verdict. If damages are not awarded or a settlement isn’t negotiated before trial, the plaintiff does not assume any responsibility for paying back money already received.
No loan terms required
Personal injury lawsuit loans are not really loans at all. They are a type of cash advance provided on a settlement or monetary award that is expected in the future. For this reason, lawsuit funding is not handled like a loan. There is no credit check, collateral or employment verification. Once the case resolves, the lawsuit advance funding is paid back out of the monetary damages recovered.
Fast, easy application process
Because personal injury lawsuit loans are treated more like a cash advance, plaintiffs can count on money much faster than they might if they had applied for a loan from a bank. In some cases, approval can be granted within 24 hours, and cash can be advanced within a day or two. This is a huge benefit for a plaintiff who finds himself under financial stress as he copes with serious injuries, lost wages and medical bills.
Eases financial burden
Personal injuries, whether due to an accident or medical malpractice, can quickly take their financial toll. In many cases, the victim is unable to return to work because of the injury, which impacts their ability to bring home a paycheck for the family. In addition to the lost wages, injuries can require ongoing medical treatment, medication and therapy that can be costly to obtain. Legal funding allows the victim to focus on seeking treatment and healing from those injuries, rather than worrying about how to pay the rent or buy groceries for the family.
Allows plaintiffs to wait out a fair settlement
The economic strain of an injury can takes its toll on the victim and his or her family. In some cases, the plaintiff may agree to accept a smaller settlement just to end the legal process sooner. While this might speed up financial compensation, it may limit the amount the plaintiff receives. Personal injury lawsuit loans relieve financial burdens so a plaintiff can wait out a fair settlement or jury trial, in order to receive the maximum compensation.
If you are in the midst of a personal injury case but can’t wait for financial assistance, lawsuit advance funding may be the right choice for you. With a risk-free cash advance, you can get the money you need within 24 hours and you only pay the money back if you win or settle your case. For more information about how our services can help get you through the litigation process, call LawStreet Capital toll-free today at 866-FUND-662.