In the blink of an eye, you can become an injured victim in an auto accident. One moment everything’s fine, the next someone who’s driving distracted, drunk, or speeding plows into you. Settlement advances are designed in a way that helps those who suffer serious injuries or disabilities financially, so you aren’t forced to settle for the low-ball figure the insurance company throws out in your desperation for money to pay the bills.
What is a Settlement Advance?
A settlement advances is a lawsuit cash advance on a pending lawsuit prior to settlement. This allows you to get money to continue your case prior to winning.
Are Settlement Advances worth it?
Settlement advances are worth obtaining if you are in need of money to pay bills. They allow you to continue your lawsuit without settling early for a lesser amount.
A personal injury lawsuit can take much longer than you expect to come to settlement – weeks, months, even years in some cases.
How do Settlement Advances help?
Meanwhile, if you’re unable to work or facing substantial medical expenses, it’s hard to pay the bills and live as you normally would. Pre-settlement funding makes it possible for you to pay medical bills, household expenses, and other costs so that you can continue on with your lawsuit in order to secure the full settlement or award you’re entitled to.
What happens if you don’t win your lawsuit for a Settlement Advance?
What happens if you don’t win your lawsuit? It’s simple – you do not repay the advance. Pre-settlement funding is non-recourse, which means you only repay the advance to the funding company if your lawsuit settlement is complete. Otherwise, you pay nothing at all.
How do I qualify for a Settlement Advance?
Qualifying for funding is simple, and does not require you provide information regarding your employment or credit standing. Your attorney will provide the settlement funding company with the information necessary to determine whether you are eligible, including the details of your injuries, the accident or circumstance that caused them, etc. As long as your lawsuit is legitimate, there is usually no problem.
What are Settlement Advance interest rates?
Interest rates on settlement advances vary. They can be as low are 5% and they can be as high as 20%. You need to be cautious who you use for a settlement advance.
Addison PSF has very competitive rates, however – they vary depending on the risk level of your case!
Interested in learning more about advances for a lawsuit and how this type of funding has helped thousands of car accident victims avoid financial disaster, or settling for less than they deserve from insurance companies? Contact Addison PSF today, or visit our website.