When you’re seeking compensation through a personal injury claim, you’re likely eager to have the matter settled as quickly as possible. You may have medical bills and other expenses to cover and you’re waiting for your compensation to take care of those costs. However, the legal process can take a long time. There are many factors that can affect this, depending on how severely you were hurt and how the other party involved is cooperating. When you have bills to pay, you may seek funding before your case is concluded. There are some steps to getting these funds and it’s important to know how early in the claim-filing process you can get lawsuit funding.
After Filing Your Personal Injury Claim
When you’ve filed a personal injury claim, there is a period of time where the other party could respond. You may find that your lawyer will be able to negotiate a fair settlement with them. But if the process starts to become drawn out and your case goes to court, then you may see that this process could possibly take years.
Bills and other debts are financially stressful and you likely want to pay them off as soon as possible. But when it seems like your lawsuit could take a long time before it’s resolved, that’s where lawsuit funding from Preferred Capital Funding can help you.
When you receive lawsuit funding, you’re borrowing a loan to pay off your expenses, and if and when you receive your compensation, you pay the loan back. This allows you to go through the legal process without worrying about when your case will be resolved and you won’t be harassed by debt collectors or seeing bills with a “past due” stamp.
Now that you know how this path can help you through this time, you’ll need to know how to apply for it.
How Do You Apply for Lawsuit Funding?
Lawsuit funding is a fairly easy process to apply for, given that you take the appropriate steps. First, you need to discuss this with your lawyer. They need to be willing to work with us for you to be eligible to receive pre-settlement funding. With their approval, we can begin communicating.
When you apply, you’ll provide some basic information, but this doesn’t have an extensive background check like other loans have. If you’re worried about your employment history or credit score, know that these are not factors when considering your application. All you need is to have a valid personal injury claim and a lawyer who will work with us.
In addition to information about you and your case, you’ll also include the amount requested. Your lawyer will have taken your economic and noneconomic damages into account, and is fighting for you to receive compensation. They’ll keep the compensation amount in mind when you’re seeking lawsuit funding.
It’s important to not borrow too much or too little. If you request an amount that’s beyond what you need, then after your case is resolved, the compensation you have may not be enough to pay back. This could lead to financial issues later.
However, if you borrow too little, you may not be able to take care of your current bills, which will still have you in a financially difficult situation while you’re waiting for your case to reach a resolution.
This is why your lawyer can help estimate the proper amount in your application. Then, when we receive your application, our legal underwriters will assess the application and will decide what the appropriate amount is for you.
While this sounds like a long process, it’s meant to act quickly. We understand that you’re seeking options that will help you as soon as possible. When you send in an application, you could be approved and have your funding within a few business days.
Reach Out to Preferred Capital Funding Today
When you’re dealing with recovering from injuries, going through the legal process, and you’re trying to get back to normal life as quickly as possible, you may wonder how long it will take before it feels like you’re moving forward again. A lawsuit loan can provide you with the means to take care of some existing expenses so they’re off your list of responsibilities.
After discussing the matter with your lawyer and with their approval, you can apply today. We’re ready to help you get the funding you need so you can have peace of mind.