Can you get cash out of a lawsuit before it settles?
One way is to use Settlement loans or lawsuit loans. These kind of 'loans', and I put it in quotes for a reason, have become much more common in recent years. A settlement loan is an advance of some type. A company will give you money now and in return you agree to pay them back out of your settlement or verdict ( if the case goes that far ). These types of advances almost never have anything to do with your credit worthiness or your credit history. The company ( and there are many so you can look around ) only really cares about whether the case that you are concerned in will payout and then they will get repaid.
Why is it not a loan? It is not a loan because if the case does not payout, then you don't have to pay back the advance. The fancy word for this is 'non-recourse' Whether the advance gets paid back is solely dependent on the case itself. So if the case settles then you pay the advance back. If the case goes to trial and you win, then you pay the advance back. If you lose the case and therefore get nothing from the lawsuit, then you do not pay the advance back.
You really should only use this advance or loan if you really need it. These can be very expensive because there is often interest charged each and every month and that really starts to add up. However if you need to pay off critical debt or have serious medical expenses or some other serious financial problem then you can consider this.
We've seen people use these for medical expenses, saving their home and making mortgage payments, and even living expenses.
Does a Settlement Loan have an affect on your lawsuit?
No. The financial company that gives you an advance isn't permitted to interfere with your lawsuit. All that company is doing is advancing you money. They aren't getting control of your lawsuit. You and your lawyers will decide when and the way to settle your claims. Or you and your lawyers will decide whether to take it to trial or not.
The interest on these loans is building each month at sometimes a very high rate. These rates can be higher than your credit card. You need to act slowly and take as little as possible if you do this.
Alright so Slow down and have a look at plenty of companies before you agree to one of these loans. Look around online and do your research. There are plenty of websites and Lawsuit funding blogs around to read.
One way is to use Settlement loans or lawsuit loans. These kind of 'loans', and I put it in quotes for a reason, have become much more common in recent years. A settlement loan is an advance of some type. A company will give you money now and in return you agree to pay them back out of your settlement or verdict ( if the case goes that far ). These types of advances almost never have anything to do with your credit worthiness or your credit history. The company ( and there are many so you can look around ) only really cares about whether the case that you are concerned in will payout and then they will get repaid.
Why is it not a loan? It is not a loan because if the case does not payout, then you don't have to pay back the advance. The fancy word for this is 'non-recourse' Whether the advance gets paid back is solely dependent on the case itself. So if the case settles then you pay the advance back. If the case goes to trial and you win, then you pay the advance back. If you lose the case and therefore get nothing from the lawsuit, then you do not pay the advance back.
You really should only use this advance or loan if you really need it. These can be very expensive because there is often interest charged each and every month and that really starts to add up. However if you need to pay off critical debt or have serious medical expenses or some other serious financial problem then you can consider this.
We've seen people use these for medical expenses, saving their home and making mortgage payments, and even living expenses.
Does a Settlement Loan have an affect on your lawsuit?
No. The financial company that gives you an advance isn't permitted to interfere with your lawsuit. All that company is doing is advancing you money. They aren't getting control of your lawsuit. You and your lawyers will decide when and the way to settle your claims. Or you and your lawyers will decide whether to take it to trial or not.
The interest on these loans is building each month at sometimes a very high rate. These rates can be higher than your credit card. You need to act slowly and take as little as possible if you do this.
Alright so Slow down and have a look at plenty of companies before you agree to one of these loans. Look around online and do your research. There are plenty of websites and Lawsuit funding blogs around to read.
About the Author:
Lawsuit Loans is a large industry. There are lots of companies and people offering services. Go check out industry blogs such as Lawsuit Funding Blog to continue your research. Click here to get your own unique version of this article with free reprint rights.
