A lawsuit brings along with it stress, emotional tempest and financial impediment for your family. Despite having a good lawyer, you may want to get a settlement as early as possible to come out of the situation. This usually leads to you compromising on the situation and settling for an amount that is much less than what you should actually get.
This is when a pre-settlement funding company comes to your rescue. These companies are also referred to as third-party funding, litigation funding, plaintiff financing, legal financing or settlement funding companies. Such companies support you financially so you can fight the case and get your rightful claim.
What are the advantages of Pre-Settlement funding?
Pre-settlement funding is usually recommended for people who are awaiting their claim for a personal injury. But small businesses and law firms can also benefit from its offerings. This is because the defendants tend to drag the case to tire out the claimants. The claimants who actually deserve bigger claims settle for lesser than what they actually deserve.
A claimant who has taken a pre-settlement fund doesn’t have to return it back to the company if they lose the case. This helps them to fight their case without having to worry about their financial condition.
Unlike loans that require credit checks, pre-settlement funding companies don’t perform any credit checks on the claimant. They just go through the case, and if eligible they agree to finance them till they get a complete settlement.
Getting financial back-up helps you and your attorney to continue fighting the case until you get your settlement fair and square. You will no longer have to worry about paying your rent, medical bills or other living expenses that are incurred in our daily lives.
Thus, if you find yourself getting delayed in a claim, it is best that you approach a pre-settlement funding company to solve your financial problems.