There are so many people worrying about how they are going to make ends meet. They are borrowing money off of loved ones and taking financial risks that they should not be taking. With lawsuit settlement funding, it is not necessary to have to take risks that can cause a great deal of harm to a person in the long run.
The Fees
There is no question that there are fees involved and they are not the cheapest, but they are necessary. In fact, there are fees with practically every service a person takes advantage of; lawsuit settlement funding is another one of those services, but it is a service that is a matter of life for many individuals. They are able to keep from losing their homes, their cars, and other financed items. Individuals are also able to keep their utilities on and credit card bills paid. One of the most significant costs, though, is the medical bills related to the injury. The medical bills are going to keep piling up and they will eventually find their way onto your credit report if they sit for too long. Lawsuit settlement funding can pay those bills so you are not harassed and so your credit rating is not at risk.
Non-Recourse Loans
These loans are called "non-recourse loans." What this means is you don't have to pay the loan back if you don't receive your settlement. This is where the risk comes in and is why there are fees. The funding company talks to your lawyer about your case and an estimated settlement amount is reached. The funding company then decides whether or not to provide the funding based upon the information they have received. If they do, that is a risk they take, knowing it is possible for the settlement to not be awarded. Nonetheless, a great deal of judgment is used by an attorney before they take a case and this is something that funding companies do put trust into. They also use their own judgment.
Is it Right for You?
You do have to ask yourself if lawsuit settlement funding is right for you. You can talk to your lawyer about it. Since your lawyer cannot forward you the funds that you need to pay your bills, this is the safest option, considering there is no risk to you. The fees are the highest risk that you take and they are not considered a true risk. They are fully disclosed to you and are rather cut and dry.
So when you need a financial solution while awaiting the receipt of your settlement, you don't have to be completely destitute. Lawsuit settlement funding can set you up with amounts as much as $100,000 so that you can take care of yourself while your attorney works hard to reach a favorable settlement for you.
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