Can I receive pre-settlement funding for a personal injury case?

Pre-settlement funding (also known as pre-settlement loans, lawsuit funding, litigation funding, or legal financing) is a type of funding service that helps give you immediate access to cash while undergoing a personal injury claim. During a personal injury claim, the amount of money you can receive from the person or company at fault for causing the injury can vary greatly. In some cases, you may receive a settlement offer from the opposing party that is lower than what your case may actually be worth. As you wait for the case to be resolved, pre-settlement funding can help bridge the financial gap and provide a financial cushion for those who are expecting to receive fair compensation for their claim, but have yet to receive it.

Pre-settlement funding is a type of investment service which works to provide financial assistance to plaintiffs undergoing personal injury claims to help cover basic living expenses, medical expenses and other expected payments.

This type of funding helps put you in a more favorable position, as you will be in control of negotiating a fair settlement without the added pressure of worrying about financial obligations. Pre-settlement funding can help alleviate the major financial commitments and allow you to seek fair compensation for your personal injury claim.

Pre-settlement funding is often considered a “last resort” because it’s typically viewed as an option for those who have already exhausted other financial options. The goal of pre-settlement funding is to increase people’s chances of getting a fair financial amount from a personal injury claim – thus, it is important to understand the various aspects of pre-settlement funding before making the decision to pursue it. Below are some of the key factors to consider:

• Pre-settlement Funding Rate – Pre-settlement funding companies will typically charge a fee of between 5% and 25% per transaction. This fee should be considered when deciding whether this type of funding is right for you.

• Repayment Timeline – Depending on the specific services offered by different pre-settlement funding companies, you may be able to obtain an immediate lump sum reimbursement or an extended repayment option. Understanding the repayment timeline is essential when deciding what type of service best fits your circumstances.

• Impact on Personal Injury Claim –Choosing to pursue pre-settlement funding will not impact the outcome of your personal injury case. However, it could potentially increase the time it takes for your case to be resolved, as the funding company may have certain requirements for settlement offers.

• Personal Liability – When pursuing pre-settlement funding, you may be required to sign a contract that holds you personally liable for any costs incurred if you lose the case or if the settlement offer is lower than expected. Be sure to read and understand any contracts before signing anything.

Obtaining pre-settlement funding is a viable option if you’re waiting for a compensation settlement related to a personal injury case. Before making any decisions, however, it is important to carefully consider the terms, rates, and liabilities involved with the company you choose. Doing so can help ensure that you receive a fair and beneficial amount of financial assistance during the course of your personal injury claim.