Many people may have heard the term pre-settlement funding but do not know exactly what it is. To be very honest before I started working for a pre-settlement funding company I had no idea either. Now having a few years under my belt I will layout out in simple terms what pre-settlement funding really is all about and why it is a beneficial service.
Pre-settlement funding is an advance of funds against the proceeds for your pending settlement. It is considered non-recourse, which means if you do not win you do not repay! A typical advance can be up to 10% of the value of your claim. An example would be if your case is worth $50,000, you could potentially qualify for up to a $5,000 advance; and if you do not win your case you owe nothing.
There are no upfront fees or cost to you, nothing is paid out of your pocket to get the advance. When and if your claim settles, the funding company is repaid out of your settlement proceeds.
These cash advances can be useful to those who have been hurt in an auto accident, a slip and fall at a store and unable to go back to work due to their injuries. Your life does not stop because you have been hurt. The same bills still come every month and require your attention.
The process is simple. You can call us at 866-540-2001 or fill out an application online at http://legalfundsnow.com/apply-now/. An underwriter will contact both you and your attorney to discuss your claim. We collect a few documents which are then reviewed and approved. From start to finish this process is fast, and can be completed in as little as 24 hours.
Pre-settlement funding is a needed service. It may not be for everyone, but there are many who need financial assistance and can turn to us when all else fails.No Comments