How to Apply for Pre-Settlement Funding
Personal injury cases can be lengthy processes lasting months or years, and their costs add up quickly. Besides the legal fees associated with these suits, you may struggle to afford your living expenses and medical fees. If you suffered severe injuries that prevent you from returning to work, these expenses may seem impossible to afford.
Don’t feel discouraged. At Money First Funding, we’re here to help. We provide pre-settlement funding and empower people like you to fight for their settlement without financial worry. Here’s what you need to know about applying for the funds you need now, not later.
Pre-Settlement Funding Explained
Pre-settlement funding serves as a cash advance for plaintiffs pursuing a lawsuit. It eases growing financial burdens as the legal process prolongs. Borrowers often use their funding to pay for living expenses, like rent, utilities, and groceries. Borrowers may also allocate the funds for their medical fees, like hospital stays or medication.
As settlement cases stretch on, legal fees may grow because of the time and effort lawyers devote to creating the strongest case for your settlement. Pre-settlement funding can pay legal fees so your lawyer can continue developing your case.
Pre-settlement funds differ from traditional loans. You will only be obligated to pay back what you spend if you settle. If you don’t win your case, you will not owe back any pre-settlement funding.
How to Apply
To apply for pre-settlement funds for your injury case, you must have suffered an injury from your accident, and you must have a lawyer. Loan providers like us communicate directly with your lawyer about the details of your case, and your lawyer will help you avoid risky situations and unsafe loan providers. If you meet the necessary qualifications, follow these steps to pursue pre-settlement funding:
- Discuss Your Options – Communicate your interest in obtaining pre-settlement funding to your attorney. Your attorney will advise you on whether that’s favorable for your specific case, and they may provide recommendations for safe, trusted loan providers.
- Gather Case Information – Choose a loan provider and evaluate their application process. Typically, applications will require you to input your case details and the contact information for your lawyer. Your loan provider will connect with your lawyer to verify the details of your case and evaluate if you’re an ideal candidate for pre-settlement funding.
- Sign the Final Papers – Read and sign the funding agreement with your attorney. This agreement outlines the details of how much money you will receive, when and how you will receive it, and repayment expectations, including interest rates.
After your application and agreement are approved, you will receive the financial aid you need. If you win your case and receive a settlement, you will pay the money you borrowed back. If you lose, you will not be required to repay any funds.
Get Help Applying for Pre-Settlement Funding
The cost of both money and time during the lawsuit might feel overwhelming, deterring you from pursuing your settlement. At Money First Funding, we’re on your side. We will provide you cash advances so you can fight for the settlement you deserve while still affording living, medical, and legal expenses.
Contact us at 702-623-3333 or through our online contact form so we can explore your best options.