Pre-Settlement Cash in 24 Hours??? What Is It? What’s the Catch? Am I Eligible?

5.0
Pre-Settlement Cash in 24 Hours??? What Is It? What’s the Catch? Am I Eligible?

Yes, there is no need to pay back if you lose the case. Thus, technically, it is not a loan as you are not obliged to pay it back.

Do you have a higher chance of winning a case related to sustained injury but don’t have enough cash to pay your bills and expenses for now? Don’t worry. We know that it often takes time to get a case closed and the compensated amount. So, the best solution that allows you to complete all your emergency payments is Pre-Settlement Cash which you can get just in 24hrs.

Often called Pre-Settlement Funding or Legal Funding, it can be your lifeline in the most desperate times. So, getting to know all about this funding option can greatly benefit you. We are here going to discuss various aspects related to Pre-Settlement Cash so that you know what you are going for.

Pre-Settlement Cash!! What does it mean?

When a plaintiff chooses this option, a pre-settlement cash company provides money within a short period (in some cases just a day) in exchange for a percentage of the expected future settlement award. The money the person gets is called pre-settlement cash because it is being provided to the plaintiff before the settlement.

It’s a great option during emergencies because it provides you with instant financial support when you are waiting for a favorable resolution for a personal injury claim you made. The best part is that all pre-settlement cash or funding from reputable companies comes with a no-win/no-pay contingency. It means it is a risk-free tool that you can use on your way to settlement.

You aren’t going to pay back if you lose the case. But what’s the catch?

Yes, there is no need to pay back if you lose the case. Thus, technically, it is not a loan as you are not obliged to pay it back.

The first thing to remember is that the company provides you with pre-settlement cash only after discussing your personal injury lawsuit with your lawyer and assessing it. When they deem your case to be safe and learn that you have higher chances of winning, only then they provide the funding. Thus, you can say it’s a risk that they are willing to take.

However, you will be charged interest on the pre-settlement cash advance, and sometimes, it takes longer to settle or reach a judgment in the court. This means the interest on the advance amount will increase over time. Thus, it is always better to discuss the expected time remaining for settlement or judgment and the interest rate charged on the advance cash with your attorney and the funding company respectively.

The Maximum Amount You Can Get Through Pre-Settlement Cash/Funding

In general, the maximum funding you can qualify for is 15% of the expected value of your claim. For instance, if you have filed a claim worth $100,000, you can get a funding amount of up to $15,000. Similarly, if you have a $10,000 claim, you will get up to $1,500 in funding. However, the percentage may vary based on different factors.

Prerequisites to Qualify for a Pre-Settlement Funding

There are some simple requirements to qualify for pre-settlement funding, including:

  • You must have an attorney hired on a contingency basis who must control settlement proceeds in a trust account. You must be pursuing a claim against a party that is insured. The party can also be self-insured, such as the city, the state, or some large corporations. You must have filed a valid legal claim with documented liability which clearly indicates how you were injured.
  • You must be pursuing a claim against a party that is insured. The party can also be self-insured, such as the city, the state, or some large corporations. You must have filed a valid legal claim with documented liability which clearly indicates how you were injured.
  • You must have filed a valid legal claim with documented liability which clearly indicates how you were injured.

These prerequisites may vary from one pre-settlement funding company to another.

Once the company considers you as a qualified candidate, you can get pre-settlement cash in 24 hrs.