Let’s say that you’ve been injured by negligence – for example, by a negligent driver or a malpracticing medical provider – you’ve retained an attorney, and you’ve filed a lawsuit to recover compensation. Will you also need the services of a settlement funding company?
Exactly what services does a settlement funding company provide? Which personal injury plaintiffs qualify for pre-settlement funding? And how should you go about choosing the right settlement funding company? If you’ll keep reading, these questions are about to be answered.
What Do Settlement Funding Companies Provide?
By offering pre-settlement funding to the plaintiffs in personal injury cases, a settlement funding company gives those plaintiffs access to their compensation before their cases are resolved.
A settlement funding company is repaid from your out-of-court settlement or your jury verdict, so no payments are made directly from your pocket, and no monthly payments are made.
Pre-settlement funding, however, is not a loan. If your personal injury claim does not prevail, or if for any reason you are not compensated, you keep the pre-settlement funding and repay nothing to the settlement funding company.
Which Settlement Funding Company Is the Right One?
Filing and pursuing a personal injury lawsuit can create a great deal of anxiety, and pre-settlement funding should not add to that anxiety.
Seek a settlement funding company that makes the conditions and terms of your pre-settlement funding clear and specific – a company that answers all of your questions and addresses all of your concerns about pre-settlement funding.
Be certain that you fully understand any financial document that you sign with a settlement funding company and that you are entirely comfortable with the conditions and terms of your pre-settlement funding.
What Else Should You Look For?
A settlement funding company will speak with your personal injury attorney as part of the case evaluation process. Select a company that cooperates with your attorney and a company that your attorney is comfortable working with.
Make sure that you understand how long it will take for your pre-settlement funding to be transferred to you. As soon as you’ve accepted an offer and you’ve signed the necessary paperwork, a good settlement funding company will transfer your funds in 24 hours or less.
Helping You Reach the Best Possible Settlement
A settlement funding company can provide cash immediately during personal injury negotiations or proceedings. Pre-settlement funding can give you the financial “cushion” that you and your personal injury attorney may need to negotiate a more generous out-of-court settlement.
But if an acceptable out-of-court settlement isn’t possible, pre-settlement funding can provide you with the time and ability to take your case before a jury. You can pay the bills and meet your obligations with confidence and peace of mind as your case proceeds.
How Can You Learn More?
Even when they are represented by excellent attorneys, some personal injury plaintiffs are forced by financial pressures to accept a “low-ball” settlement offer. Don’t let this happen to you.
It is important to select the right attorney, but you also may need to select the right settlement funding company.
You can find out more about pre-settlement funding for your case by consulting the funding and finance professionals at Universal Funds. We are ready to provide pre-settlement funding for your personal injury lawsuit.