Personal injury accidents can wreak havoc on your life and personal injury claims take a notoriously long time to settle. Insurance companies often delay settlements in an attempt to pay the least amount possible, leaving you in debt when an injury keeps you from working. With personal injury pre-settlement funding, plaintiffs can access the cash they need to pay their bills while waiting for a fair settlement with the insurance company or for the case to be decided in court. This non-recourse funding is repaid solely contingent on successful litigation or settlement of your personal injury claim.
Personal injury claims include but are not limited to; dog bites, construction accidents, medical malpractice, and injuries sustained due to defective products. Regardless of your type of injury, waiting for a settlement to make things right can take some time. If you qualify for pre-settlement funding, you can receive a lawsuit cash advance against your anticipated personal injury award. This can be a necessary resource if you're unable to work or have gotten behind on bills due to your personal injury.
Since only around four percent of personal injury claims are taken to court, insurance companies take their time when it comes to paying claims. The longer they make you wait, the greater the chance they can give you a low offer that you are forced to take. With pre-settlement funding, you can have access to a lump sum of cash, or ongoing monthly payments while you wait for the insurance company to settle your claim, helping you pay your financial obligations in the meantime.
To qualify for personal injury pre-settlement funding, you must submit the details of your personal injury claim along with your lawyer's contact information for consideration by an underwriter. The underwriter analyzes the case specifics and makes a funding decision. If approved, you can receive a percentage of your claim right away. Once you receive a settlement on your personal injury claim, your attorney repays the pre-settlement advance with the proceeds of the award. Should your case be dismissed or if it is not settled successfully, you are not responsible for repayment of the advance, so there's no risk to you and no payments to make while your claim is pending.