One of the most common questions we get at Loan Query is if a person is a good candidate for a pre-settlement loan. As we specialize in settlement funding for cases of all sizes, we have the expertise and experience to be able to work with clients who are a good match for our services.
To determine if you are eligible or a good candidate for settlement funding, consider the following factors. We will also be happy to complete a case evaluation and provide information on the loan amount you would qualify for if you contact us by phone or through the online form.
Do you have Cash Reserves?
Typically, parties to a lawsuit utilize settlement funding when they do not have readily accessible cash reserves to pay bills and maintain their credit. In some cases, individuals may have assets such as property that is not easy to convert into cash or that is otherwise inappropriate to consider as a temporary funding source.
Keep in mind, this type of funding does not require a credit check like traditional loans. Instead, the merits of your case and the likelihood of a successful settlement are the factors we consider.
Do you Need Time?
In some cases, you may feel pressured to accept a low settlement from the insurance company because of financial stress. If your attorney has advised you that with further time to negotiate or by going through the lengthy litigation process, you can settle for a higher amount, the use of pre-settlement loans can buy you that space and time.
Talk to your attorney and discuss the options you have to consider. With the use of a pre-settlement loan, you may find the cash and the time you need to obtain a better and more complete settlement.
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