If you’ve been injured by another person’s negligence, bringing a personal injury lawsuit takes time and money. Especially if you’re unable to work, you may need help from a settlement funding company to cover medical bills and monthly obligations until your case is resolved.
It does not matter how you were injured. Most personal injury claims are filed after traffic accidents, but you may also file a lawsuit if you have been injured by a defective consumer item, a property owner’s negligence, or a health care provider in an incident of medical malpractice.
Even if you expect to recover a considerable compensation sum when your case is resolved, you may face financial hardship in the interim, but the right settlement funding provider can help injured negligence victims pay their bills and meet their needs with a non-recourse cash advance.
What is a non-recourse cash advance? How does it differ from a conventional loan? Who may qualify to receive a non-recourse cash advance? If you will keep reading this brief introduction to settlement funding and non-recourse cash advances, these questions will be answered below.
What Can You Do While Your Injury Lawsuit Is Pending?
If you are unable to work while your personal injury claim is pending, your bills can mount up swiftly. In years past, the need to pay pressing debts often caused an injured victim of negligence to accept a settlement offer for far less than what his or her injury claim was actually worth.
When the other side in a personal injury case knows that you are short on resources, a low settlement offer is a typical negotiating tactic. Of course, you want your case resolved as soon as possible – but not if it means losing the complete compensation that you are entitled to by law.
Is there a practical solution? Many victims of negligence who have pending personal injury cases are turning to non-recourse cash advances as a financial remedy.
What Is a Non-Recourse Cash Advance?
A non-recourse cash advance allows you to receive cash while your personal injury case is still pending. It relieves the financial pressure, so you’ll have the time and the “breathing space” you need to negotiate for a more reasonable settlement.
If a reasonable settlement offer is not forthcoming in private negotiations, a non-recourse cash advance provides you with the time and ability to take the case to court. A non-recourse advance isn’t a conventional loan. Should your lawsuit fail, you keep the advance and owe nothing.
With a loan, you may have to pay interest, application fees, and additional costs. A non-recourse cash advance does not require monthly payments, interest, or any of the other costs associated with obtaining a loan. If you’re filing an injury claim, a non-recourse cash advance is better.
What Should You Know About Settlement Funding Companies?
A non-recourse cash advance is based on the likely outcome of your personal injury case. It can amount to thousands of dollars, and it can help you pay your bills while your lawsuit is pending. However, for the best terms and conditions, you must select the right funding source.
What do funding providers offer? What should you know in order to select the right settlement funding company? You should look for a company that clearly spells out the terms of your non-recourse cash advance, answers your questions, and addresses your concerns.
Be sure that you understand the details of any agreement you sign for a non-recourse cash advance and that you are completely comfortable with the terms and conditions of the advance. Do not hesitate to ask as many questions as necessary until you get the answers you need.
What’s Important to Understand About Settlement Funding?
The funding company should contact your personal injury attorney during its evaluation of your case. Choose a team of settlement funding professionals who cooperate with your injury lawyer – and a company that both you and your lawyer are comfortable with.
Be sure that you understand the process and the time it takes to transfer your non-recourse cash advance to you. When you accept an advance and sign the required paperwork, a good funding company will transfer the cash to you within 24 hours.
What Makes Non-Recourse Cash Advances Unique?
When your personal injury case is resolved with an out-of-court settlement or a jury verdict, that is when the settlement funding source gets repaid. That means no monthly payments and no compounding interest. You repay the advance one time, with one lump sum.
The most outstanding benefit of a non-recourse cash advance is this: Unlike conventional loans, which must always be repaid, if for any reason your lawsuit does not prevail or you are not compensated, you will owe nothing to the funding provider. The matter is simply forgotten.
A non-recourse cash advance is available prior to the resolution of your case, and if your compensation is delayed for any reason after your case is resolved, a post-settlement advance may also be available.
In some cases, you may not even have filed your personal injury lawsuit yet, and your personal injury lawyer may still be preparing your case for out-of-court negotiations, but a settlement funding provider may be able to begin working with you after speaking to your lawyer.
What More Should You Know About Non-Recourse Cash Advances?
Non-recourse cash advances are available in every state to injury victims in personal injury cases that arise from traffic collisions, premises liability injuries, defective product-related injuries, incidents of medical malpractice, and almost any other accident scenario.
Non-recourse cash advances are also available to the survivors of wrongful death victims who are filing a wrongful death claim after the loss of a family member because someone else was negligent. Cash advances keep many families from financial hardship after a wrongful death.
How Can You Learn More – or Obtain a Non-Recourse Cash Advance?
After any injury caused by someone else’s negligence, seek medical treatment at once. Then, meet with a personal injury lawyer. If you and your lawyer proceed with a personal injury claim, contact a funding company right away about the cash advance you may need.
Thousands of the injured victims of negligence have chosen non-recourse cash advances from funding providers as their personal injury cases were pending.
You can learn more about non-recourse cash advances with no cost or obligation simply by calling and asking for a free case evaluation. If you have been injured by another party’s negligence, the time to make that call is now.