Once you start working with a company specializing in pre-settlement funding, the process can be fairly quick and easy. After answering a few questions about your particular case, the company will then make arrangements to contact your attorney. When they do, they will closely review your case with your attorney, getting additional information as needed. Since personal injury cases such as car accidents are often quite complex, the company and your attorney will work together to make sure all details are correct before proceeding.
Once determined your case is eligible for car accident lawsuit loans, your attorney will receive an agreement, indicating how much of the settlement the company is willing to purchase says, Sean Kennedy from My Lawsuit Loans. In most cases, this is between 20-25 percent. If after reviewing the document you and your attorney are in agreement this is the best option for you, you simply sign the document and return it to the funding company. Once received, you will likely have your money within as little as 24 hours.
Since many people are not familiar with these loan funding arrangements, they often believe that because they are referred to as car accident lawsuit loans, they are required to pay back the money. However, that is incorrect. Instead, if for any reason you do not receive a settlement from your lawsuit, you owe nothing. However, when the case does settle, the funding company will receive the amount of money that they purchased, which as stated earlier is 20-25 percent of the expected settlement amount.
Rather than sit back and suffer the daily hardship and embarrassment of not being able to pay bills and provide for your family’s needs, consider the benefits of pre-settlement funding. With the benefits of getting the money you need quickly, along with not being expected to pay back any amount you receive, it is an option more and more people are choosing every day.