If you’re a plaintiff looking into lawsuit settlement loans, you may be thinking about the reasons you should. Today’s post will show you the benefits you could get if you would settle for these types of loans. First, you need to know that these loans are applied for by the people who have been facing a personal injury case, fire damage case or property damage case, among others. These lawsuits commonly ask for a compensation for the damage or injury that you have incurred from a particular incident. For many, these loans have been their answer to their financial turmoil while waiting for the court’s resolution on their case. So if for instance you filed for a dog bite case, see if the pre settlement funding is good for you or not.
Why Should You Apply For Lawsuit Settlement Loans?
- 1. No Win, No Repayment
Unlike normal loans, you will not have to pay a single penny at all if you would not win your case. This is one of the main advantages of applying for pre settlement loans. In these types of loans, the entire risk associated with the loan is that of the funding company. If you will not win any amount from your case or claim, you will definitely not have to pay anything. This is the reason that the funding company will have to check and to investigate on the strength of your case. They will determine carefully if you have a good case against the other party involved.
- 2. Processing Time Is Very Minimal
Unlike bank loan applications that take weeks or even months to complete the review of your application, lending firms for lawsuit loans may take as little as only one day before you will find out if you are approved for the pre settlement loans. In this case, you don’t need to be troubled of your financial situation anymore. In fact, you can get the approval within the same day, depending on the agreement you, your lawyer and the lending firm come up. If they have assessed that you have a strong case and you have completed the documents required, you will be given the copy of the agreement that you should review prior to the release of your money.
- 3. No Credit Investigation Needed For Lawsuit Settlement Loans
Some people are afraid to apply for this loan, thinking that their financial background will be checked by the company. They are worried that they will not also be approved, in particular if they don’t have a good credit score. You should know that your score does not matter here. What the company will review on is the strength of your claim and that’s all. Your credit score will not be a determinant for the firm to approve or decline your loan application.
Get Help From The Best Lawsuit Settlement Loans Firm!