Pre-settlement funding is a finance service that gives plaintiffs an advance on their future settlement. It gives the plaintiff the benefit of having the financial resources he needs to pay for his expenses while awaiting the result of his case.
Banks and traditional lenders do not offer this kind of funding or loan. That’s because they’re concerned about the implications and the high risks associated with pre-settlement funding. It’s a non-recourse loan that puts a lien on the future settlement of the litigant. If they don’t receive a settlement or award, the lender gets nothing. Apparently, banks can’t be bothered with such high risk transactions.
But there are lenders offering settlement funding or cash advance. You can find them online. Due to the growing demand for this kind of financing, there are now many lenders offering such service. However, it’s imperative that you choose your lender carefully. This financing is largely unregulated and you could easily fall victim to unscrupulous lenders who charge sky-high fees on your loan. In fact, there are many horrible stories about plaintiffs paying double or even triple the principal amount. You don’t want to be one of them!
To prevent this from happening to you, you must take the time to scour the Web for your best options for lawsuit cash advance loans. Compare their rates and terms. Look into their background and read reviews about them. That way you can be assured you’re getting a fair deal.