Waiting for a lawsuit settlement can be stressful and frustrating. As the American Bar Association (ABA) explains, personal injury claims can take months or even years to reach a final resolution. Unfortunately, your bills are not going to wait that long. This is where a settlement advance offers an answer.
In the most simple terms, a settlement advance is a way to trade part of the future value of your lawsuit settlement or trial verdict for immediate cash funding. In other words, a settlement advance can be a cost effective way for plaintiffs to get some much needed financial breathing room while they wait for the defendant or insurance company to take action.
Lawsuit Settlement Advances: Three Important Things You Need to Know
- Settlement Advance Funding is Not Technically A Loan
You may hear a settlement advance referred to as a lawsuit cash advance loan, a personal injury lawsuit loan, or pre-settlement funding. Indeed, many different terms are used within the industry to describe the same thing. Notably, while a settlement advance is often called a “loan”, that is technically a misleading term.
Pre-settlement funding is non-recourse funding. This means that you are not required to pay anything if your case never settles or you lose it in court. Instead of getting a loan, plaintiffs are “selling” a portion of their settlement for a cash advance.
- Eligibility Depends on the Strength of Your Case
You are not automatically qualified for settlement funding. Eligibility for this type of cash advance will depend on the strength and total value of your legal case. To be clear, this means that your credit history is irrelevant. At Ally Lawsuit Loans, we do not do credit checks, nor do we require income verification or employment verification. Your financial circumstances will not block you from getting access to the cash advance that you need.
- The Cost of Lawsuit Funding Matters
Finally, it is important to remember that lawsuit funding is not free. While there are no monthly payments and you will owe nothing if you lose your case, you are selling a portion of your settlement. It is imperative that you look for a lawsuit lending company that offers affordable, fair rates.
At Ally Lawsuit Loans, we are proud to provide plaintiffs with the lowest rate settlement advance funding— guaranteed. We
Apply for a Lawsuit Settlement Advance Today
At Ally Lawsuit Loans, we are committed to providing the lowest cost settlement advances to plaintiffs. If you are interested in obtaining a cash advance on a pending lawsuit, we are here to help.
We encourage you to apply now— you may qualify in as little as 24 hours. Have specific questions? Our