Accident Settlement Acceleration
Jun 25, 2019
Numerous hurdles can delay a personal injury lawsuit. Insurance companies are notorious for causing delays, but various legal and other issues can arise along the way. It might be months, even years before your case reaches a settlement. That doesn’t help now, when you have rent, medical bills, and daily expenses, not to mention legal fees, to pay. While your settlement may be a way off, settlement acceleration can give you a hand financially in the interim.
Settlement funds aren’t available until your case ends. Now, there’s a way to avoid settling early, for less and giving in to insurance companies. Pre-settlement funding has become a more common alternative to lawsuit loans but doesn’t require a credit check. You don’t pay back an accelerated settlement or lawsuit funding either. It’s a cash advance in which the funds are provided up-front.
The cash from settlement acceleration
can be received as a lump sum, or you can opt for monthly installments.
Regardless, you pay it back only if your case wins, and that’s only as a
percentage of the final settlement amount. You pay nothing out of pocket.
How an Accelerated Settlement Works
The process is very similar to a reverse mortgage, which is a home equity loan but doesn’t require regular payments. Payback is required only under certain conditions. The principle may be due only if you sell the home, move, or die, so it’s often used by older homeowners who are paid monthly by the lender, for the rest of their life.
In the case of a reverse mortgage, the value of your home, your age, and interest rates influence how much a lender is willing to give you. Plus, if your home’s value is above the balance when you repay the loan, the cash difference goes in your wallet. But there aren’t as many factors influencing your settlement cash advance. It is calculated, by an underwriter, using only the facts of your case.
Settle Later; Get Paid Now
If an injury has left you out of work and with a stack of bills, you can’t wait a year or more for a settlement. Your debt will continue to rack up. Like equity, an accelerated settlement is like a future asset. The cash you receive is tied to the future settlement; all you need to do is sell a part of it back to Lawsuit Cash 24/7 once the settlement amount clears.
How Do I Use a Settlement Advance?
You are free to use the cash advance as you need to. There are no legal or administrative restrictions. Pay your medical bills and for therapy or medications. Even use your settlement acceleration to pay the rent or for groceries. If you owe a friend or family member a financial obligation, the cash is on hand to meet that responsibility.
Apply for Legal Funding in Los Angeles in Minutes
Personal injury cases take time to settle. Getting your settlement check may take even longer. This long, frustrating process can be made easier, so you are able to continue your case. The financial relief we provide helps plaintiffs stay afloat while their case and/or settlement is still pending. At Lawsuit Cash 24/7, we accelerate your settlement and provide you with cash as soon as 24 hours after speaking to your accident attorney. We even refinance prior cash advances, under certain conditions, for clients and attorneys.