If you are in the middle of a personal injury lawsuit, you may be struggling physically, emotionally, and financially.
Luckily, pre-settlement funding is available to help you make ends meet so that you can focus on recovering from your injury instead.
If you are considering a lawsuit loan, you may wonder, Are lawsuit loans safe?
The short answer is that lawsuit settlement loans are one of the safest and lowest-risk financial options out there for people who are waiting for their lawsuit settlement to be dispersed.
At Ally Lawsuit Loans, we have helped thousands of people get the cash they need to hold them over until their lawsuit settlement is paid out.
We guarantee the lowest-cost lawsuit loans on the market so that you can be sure you’re getting the best financing available.
We’ll cover some basics about lawsuit loans and talk about how lawsuit loans work. This way, you can be more informed before proceeding with your pre-settlement funding.
How Do Lawsuit Loans Work?
Lawsuit loans, otherwise known as pre-settlement funding, are a form of non-recourse financing. This means two things.
First, you don’t have to repay your loan if you lose your case. Second, you are not personally liable for the loan.
When you are not personally liable for a loan, the lender cannot seize any of your assets if you default. The only asset the lender is entitled to is the collateral in the loan agreement.
For a lawsuit loan, this collateral is a portion of your potential settlement amount. And you repay a lawsuit loan only if you win your case and receive a settlement.
Further, unlike personal loans, lawsuit loan companies do not take your credit score into account when determining whether or not to give you funding.
Instead, they look at the probability that you will win your case and your potential settlement amount. It’s the strength and estimated value of your case that determines whether you qualify and for how much.
Is Pre-Settlement Funding Safe?
If you obtain your lawsuit loan from a reputable lender, a lawsuit loan is one of the safest financing options available.
When looking for a reputable lender, avoid companies that employ predatory lending practices and who charge hidden fees.
You can learn a lot about a lending company through their online reviews, so that is an excellent place to start.
At Ally Lawsuit Loans, we have great reviews from previous, satisfied customers, indicating our safe lending practices.
Ally Lawsuit Loans Is Here to Help You
After an accident, medical bills can pile up. To make things worse, you may be unable to work while recovering from your injury. A lawsuit loan can help you through this tough financial time at no risk.
At Ally Lawsuit Loans, we take on that financial risk for you.We understand that you may need your pre-settlement funding quickly, so we work to get you qualified within 24 hours of your application.