If you’ve suffered an injury due to someone else’s negligence, you might find yourself at a crossroads: should you take your case to court or settle it? Each option has its pros and cons. Settling outside of court often means avoiding the high costs and long waits of a trial. In these situations, the person responsible (the defendant) usually compensates the injured party (you, the plaintiff) for various damages like medical expenses, lost wages, and the psychological trauma the injury has taken.
When you agree to a settlement, you’ll sign a release form. This form is a promise that you won’t seek further legal action against the defendant for this specific incident. Once this release is signed, the defendant’s insurance company will process and send your settlement check. However, receiving this check—and obtaining your settlement funds—can sometimes take weeks to several months, ultimately adding a layer of financial strain during an already difficult time.
How to Get Your Settlement Money Early
While directly accessing your settlement check early isn’t possible due to legal processes and timelines, pre-settlement funding offers a practical solution. This option, once approved, allows you to tap into your anticipated settlement funds before your case settles or the settlement amount is distributed.
For example, let’s say you’re recovering from a car accident, saddled with large bills, and unable to make ends meet. The wait for your lawsuit to fully resolve could stretch from months to years, further aggravating your financial anxiety.
With legal funding, however, you can get up to 20% of your forthcoming settlement money earlier. Your funding amount will be based on various aspects like the defendant’s insurance limits, your case merits, your attorney’s cooperation, and the financial impact of your injuries.
Whether your injuries are preventing you from working, or you’re swamped with medical bills and other expenses, a pre-settlement advance can help bridge the gap between your current financial situation and the eventual settlement payout. You’re free to use the money to cover immediate expenses like medical bills, rent, living expenses, groceries, or any other costs.
To explore the possibility of getting settlement money early on as an advance, you or your attorney can initiate the process through a legal funding company, like Baker Street Funding.
By applying today, you can unlock early financial relief, so that you don’t have to wait unduly for the settlement money you urgently need.
Understanding Pre-Settlement Advances
A pre-settlement advance is essentially a no-risk loan against your pending settlement. Whether you’re in the early stages or deep into the litigation process, you can receive this advance as a lump sum or in monthly installments. It’s designed to ease your burden of expenses until your personal injury case is resolved and you receive your due compensation.
One of the biggest advantages of pre-settlement funding is that it’s non-recourse. That means you only repay the funds if you win your case. If you are unsuccessful in winning your lawsuit, you owe nothing back. More so, your assets are safe as there’s no risk to your personal belongings no matter the lawsuit’s direction.
Keep in mind, though, that legal funding companies do charge a fee or interest for the early provision of funds. After your settlement check is issued, your attorney handles the repayment to the funding company first, then distributes the remaining amount to you.
Despite this, the convenience and peace of mind that comes with accessing your settlement funds early on, especially during financially troubled times, often far outweigh the cost.
Qualifying for a Lawsuit Loan
Wondering if you can qualify for a pre-settlement cash advance during your lawsuit? Good news: You don’t need a perfect credit score or a job to be eligible. What matters most is the strength, value, and the promise for a successful outcome, not your financial status.
If your case is in court and has a high probability of winning, you may qualify to get settlement money in advance from your pending settlement check before your lawsuit settles. The repayment of a cash advance on a pending lawsuit is only deducted from the final settlement check after it pays out.
The Takeaway
Litigation is notoriously slow. It can take months or even years to see a case through to its conclusion. In the midst of this wait, Baker Street Funding offers you an opportunity to access part of your settlement funds early. This advance lets you take charge of both your finances and your journey towards recovery, without the stress of uncertain timelines.
At Baker Street Funding, we’re not just about financial solutions; we’re about making those solutions work seamlessly for you. Our lowest industry interest rates are just the start. We pair this with an unwavering commitment to transparent terms and personalized support.
There’s no need to worry about credit checks, job verifications, or the risk of repayment if your case doesn’t win. Our team is dedicated to removing your financial worries quickly and effectively.
Reach out to Baker Street Funding for a lawsuit loan and discover how we can assist you in securing your settlement money early, often advanced within 24 hours of approval. Let us be your partner in transitioning from a period of waiting to one of recovery, backed by the financial support you deserve.
