Lawsuit loans are funds against impending lawsuit settlement. They are not loans as the sound rather a cash advance for people going through a personal injury claim. As a defendant, you sell a percentage of the upcoming settlement winnings in exchange for funds. The funds will help you through the legal process, pay for your medical bills, groceries, and car services among other personal expenses.
How does your claim impacts on obtaining a lawsuit loan?
The nature of a lawsuit greatly affects the length of obtaining pre-settlement funding. In most cases, it’s much easier to get a lawsuit loan when it comes to car accidents claims. The reason is simple. Unlike other cases, car accidents are well documented with enough evidence from witnesses, a police report and the scene itself. Lenders will first consider a case with enough evidence before they issue a cash advance. You must have a proof showing the faultiness of the other party.
Also, lender companies look for police reports to assess the extent of injuries or damages caused. The report will give a clue of whether the accident was a major one or minor with insignificant injuries. It’s, therefore, easier to prove damage in car accidents as compared to other cases.
Lending Companies understands the level of insurance for all cars. Other cases are different when it comes to this. It may take time to establish whether the defendant was insured with a real insurance cover to settle your injuries. These are some of the reasons why such cases are easy for the issuance of a loan.
On the other hand, it’s still possible to qualify for a loan with other cases. My Lawsuit Loans caters for all personal injury claim victims no matter your case. To obtain pre-settlement funding, you will require a few personal details. First, you must be represented by a lawyer in a court of law. It’s also important to check with state laws. Lawsuit loans are not applicable in some states. Getting a lawsuit loan is a personal decision. You may choose it and repay later if your claim wins. If you lose, then you don’t have to repay the lender.
Like other claims, proper documentation proving liability will improve the value of your case. If an insurance company offers to settle the case before trial, then there are high chances of qualifying for a lawsuit loan.
Personal injury claims eligible for lawsuit loans include.
-Car accident claims
-Slip and fall claims
If you need a loan on the above cases, then contact My Lawsuit Loans and request for a free quote on your case.