Pre settlement funding is among the options you should consider if you have been waiting for settlement of your law suit arising from a serious road accident. If the consequences of the accident have financially crippled you and the mounting bills are bothering you, personal injury loans can come to your aid. It is important however that you find an experienced attorney specializing in personal injury claims to prosecute the case. Though the attorney does not lend you the money, he can help you find a pre settlement funding company to work with you. Often times, the pre settlement loan can put the vital cash in your hands in less than 48 hours. Typically, personal injury claims take long time to settle because of the hurdles in arraying evidence against the driver at fault. When the victim has also been disabled from pursuing his/her occupation, the financial impact becomes overwhelming.
Pre Settlement Loan
Pre settlement refers to the time lag between lodging a claim and the pronouncement of a judgment or settlement agreement. A cash advance against the expected settlement is termed as pre settlement loan. The usual practice of income verification and credit checks are absent with the pre settlement loan and what is more, you are at liberty to use the cash in any manner you wish to. A major advantage with the pre settlement loan is that if for any reason, you lose the law suit, you are not obliged to make repayment against the loan. Remember though that your attorneys assessment of the strength of the suit will be the guiding force for approval of the loan. Within the U.S.A alone, close to 900,000 legal cases remain n the pre settlement state at any given point of time. Most of the pre settlement funding is handled by the top six companies in the business.
How Pre Settlement Loans Work
During the pre settlement phase of a legal claim, the plaintiff is made appropriate offers by the insurance carrier/adjuster in pursuit of a claim settlement. In turn, with the participation of pre settlement funding companies, the defendant and the plaintiff get a level playing field. Over 20,000 medical procedures are paid for every year through this method and without the pre settlement funding such payments would not have been possible. This should also work as a serious reminder of the consequences of road accidents and the pain it delivers on the family of the victim. From a legal perspective too, pre settlement funding helps in building a stronger case for the plaintiff. The mental, physical and financial agony suffered by the plaintiff can be more effectively presented when a pre settlement loan funds the medical procedure. This is however possible only when you have hired a competent attorney to represent your personal injury claim. Statistic reveal that victims who chose to work with an experienced attorney often times receives significantly higher compensation than those who prosecute the law suit in person. With the attorneys assessment of the claim taking the top spot in deciding pre settlement loans, finding a competent attorney in your neighborhood should never be a problem.
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About the author
Michael Smith is the Customer Experience Director at 911 Lawsuit Loans LLC and is responsible for client relations throughout the funding.