Understanding Pre-Settlement Cash Advances for Personal Injury Cases

If you’ve been injured in an accident due to someone else’s negligence, such as a car accident or medical malpractice, you may be entitled to financial compensation for your medical bills, lost wages, and other expenses.

While waiting for a settlement, many accident victims face financial hardship. This is where a pre-settlement cash advance can provide much-needed relief.

What is Pre-Settlement Funding? Pre-settlement funding is a financial option for plaintiffs with pending personal injury claims. Also known as consumer legal funding, this type of funding allows injured victims to receive money upfront while their case is still pending. Depending on state laws, the funding may be structured as a loan or a purchase agreement where the plaintiff sells a portion of their potential legal settlement.

How Does Pre-Settlement Funding Work? When you apply for a pre-settlement cash advance, the funding company evaluates the strength of your case and the likelihood of a favorable settlement. If approved, you receive a portion of the expected settlement funds. This advance can be used to cover medical bills, rent, car payments, or other necessary expenses while you wait for your case to resolve.

Unlike traditional loans, pre-settlement funding is non-recourse. This means that if you do not win your case, you do not have to repay the advance. The repayment amount comes directly from your settlement once your case is resolved.

Why Choose Pre-Settlement Funding? Legal proceedings can take months or even years, leaving accident victims struggling to make ends meet. Pre-settlement cash advances offer financial relief to those unable to work and facing mounting bills. This financial safety net helps victims avoid accepting low settlement offers just to cover immediate expenses.

The Role of Your Attorney in Pre-Settlement Funding Your attorney plays a critical role in the funding process. They must provide information about your case to the funding company and approve the agreement. This ensures that the funding company has accurate information regarding your claim and the expected settlement amount.

Important Considerations Before Applying

• Understand the fees and interest rates associated with the funding.

• Consult with your attorney to review the funding agreement.

• Ensure you are aware of the total repayment amount once your case is settled.

• Ask about the funding company’s terms and conditions, including any hidden fees.

Disclaimer: PrimeCare Network provides pre-settlement funding, also known as consumer litigation funding, to its clients through different products depending on their state of residence or cause of action. Many clients will receive pre-settlement funding in the form of a purchase agreement, assigning a portion of the pending proceeds from their legal claim. Other clients, such as those in South Carolina and Colorado, may be offered funding in the form of a pre-settlement loan, sometimes referred to as a lawsuit loan. These transactions have important differences, so consumers should carefully review and understand the type of transaction offered to them by any funding company.

Call 888-474-8473 to learn more about pre-settlement cash advances or apply now at https://www.primecarentwk.com/apply-now.