A lawsuit ensuing from injuries or an accident can take years before settlement. This means months of waiting, which can be painful if the accident leaves you disabled or out of your jobs. Covering your medical bills, paying your bills and mortgage will, therefore, become a challenging ordeal. After filing a personal injury or accident lawsuit, you might consider applying for a lawsuit loan.
Lawsuit loans, also known as lawsuit funding is money borrowed against the settlement or compensation expected from a lawsuit. This loan will enable you to pay your bills and meet all living expenses before receiving the proceeds of the settlement. Cash advances in terms of a lawsuit loan can be easily obtained from My Lawsuit Loans. This company will work with your attorney to ensure that you get pre-settlement funding. This procedure is fast, easy and involves low risks and low-interest rates.
The process of applying for lawsuit loans is easy and convenient for any plaintiff.
An application for the loan. This can be done online or through a phone call. When the application is made, your contact information, basic information on your case and your attorney’s contacts will be recorded.
Case review. Case managers review your case in order to understand the nature of your claims. The case managers will work closely with your attorney to ensure that you get most out of your suit.
Approval. Once the case has been reviewed, approval will be the next step. Contracts will then be delivered to the plaintiff for signing. Funding will then be released to the plaintiff’s account after the contract is signed.
Once a lawsuit loan is advanced to the plaintiff, repayment will not be required until the lawsuit is settled. After winning the settlement, the loan will be repaid from the proceeds of the suit. This is advantageous as the advanced money will enable you to cover the cost of the trial among other expenses. The fact that repayment occurs only after the case is settled means that periodic payments required in other loans are evaded.
There are several advantages of lawsuit loans as compared to real loans. The main reason lawsuit loans are better than other cash advances is that if the case is lost, you don’t owe the company anything. These loans also have the fastest turnaround time as compared to generic loans and they are also risk-free. If you’re ready to get started on your lawsuit loan application, My Lawsuit Loans will be the best for you. Give us a call and we’ll handle the rest!Continue reading