If you are going through the legal claims process — whether for a car accident, a workers’ compensation claim, or any other type of personal injury case — you are probably already aware of the fact that settlement rarely comes quickly.
Unfortunately, the slow nature of the American legal system can leave plaintiffs in a difficult position: You may need money to pay your bills now, but your settlement might still be months away.
A pending lawsuit loan offers a cost-effective solution. At Ally Lawsuit Loans, we are committed to providing exceptional service and the best interest rate lawsuit loans to plaintiffs.
If you or your family member is considering applying for legal funding, we want to make sure you have access to all of the information that you need to protect your rights. Here, you will find the best tips for plaintiffs seeking a pending lawsuit loan.
Five Tips for Getting the Right Lawsuit Loan
- Make Sure You Understand the Costs
Before accepting a lawsuit loan, it is essential that you understand the full nature of the costs. As explained by Investopedia, the costs associated with a high-interest rate can add up quickly. Make sure you look for a low, fair rate on your loan.
Sadly, not all lawsuit lending companies take the time to explain the true costs of their services. At Ally Lawsuit Loans, we offer the most affordable lawsuit loans in the industry — guaranteed.
We also make sure that our clients have an in-depth understanding of the cost of getting legal funding.
- It is Best to Keep Your Lawyer Involved in the Process
For plaintiffs, the legal funding process works best when they keep their attorney involved.
As an example, if you are considering applying for an auto accident lawsuit loan, make sure you discuss doing so with your car accident lawyer.
One of the biggest advantages of getting a lawsuit loan is that it will provide you with the financial breathing room that you need in order to give your attorney the time that they need to maximize your settlement or personal injury verdict.
- Money Comes Faster When Documents are Well-Organized
You may be wondering: How quickly can I get a lawsuit loan? There is no simple answer to this question, as the speed of approval depends on a wide range of different factors.
hat being said, in some cases, our legal funding specialist can approve a loan for pending lawsuit in just 24 hours.
What do you need to do to speed up the application and approval process — make sure the lawsuit lending company has access to all of the case documents that they need to move forward.
The sooner that your attorney can get the required documents, records, and information to the financing company, the sooner money will be in your pocket.
- You Need a Reliable Lawsuit Funding Company
Loans for pending lawsuits are offered by many different firms. Be sure that you are working with the right company. Plaintiffs need a reliable and dependable legal funding firm.
Among other things, you should look for a company that offers:
- Low rates;
- Clear, concise terms;
- Efficiency; and
- Helpful customer service.
The bottom line: Do not trust your legal funding to just any company — always work with the best in the industry.
- Do Not Borrow More than You Need
When applying for a loan against lawsuit settlement, it is important to remember that you should not borrow more than you actually need to get you through the next few months.
Of course, how much financing you should seek will depend entirely on your individual financial circumstances.
If you are not sure how much you should apply for, there is nothing wrong with leaning on the conservative side.
You can always apply for a second pre-settlement lawsuit loan.
If you work with our legal funding specialists, you can take less than the maximum amount you were approved for, and we will be more than happen to provide additional legal funding in the future should you determine that you need more money.
Apply for a Lawsuit Loan Today
At Ally Lawsuit Loans, we are committed to providing the lowest cost lawsuit loan funding to plaintiffs.
If your bills are piling up and you are awaiting a legal settlement, our team will help you explore your financial options.
Apply for a lawsuit loan and get approved in as little as 24 hours. If you have any questions about lawsuit loans, please give our legal funding specialists a call.