If you are working through negotiations for a settlement, you may qualify for a loan that uses the settlement funds as collateral. Pre settlement funding is an attractive option for those who want cash fast and you can typically get a free consultation from a loan provider to find out if you are eligible for this type of loan. When you apply for pre settlement funding, you will be asked to provide key information about the settlement and some personal information.

The loan provider will review your pre settlement lawsuit funding application and determine whether you are qualified to receive the loan. One of the key things to remember with pre settlement lawsuit funding is that you will not be required to pay back the loan in the event that the settlement does not get approved. This is a risk that the lender already knows about and they will offer a loan amount accordingly.

Applying for Pre Settlement Loans

Pre settlement loans really aren't a traditional type of loan, but more of a cash advance for those who are involved in a lawsuit. Pre settlement loans are also referred to as pre settlement lawsuit funding, pre settlement funding, lawsuit settlement funding, class action settlements or a lawsuit settlement loan. When you are applying for pre settlement loans, the company does not run a credit check and there is no guarantee involved. You will receive pre settlement lawsuit funding based on the merit of your case, which is why it is so important to present all details about your case during the application process. The lender will weigh the value of the case and draw a conclusion based on the facts provided.

They will calculate your pre settlement lawsuit funding amount and offer a quote. If you approve, this amount will be wired to your bank account as a lump sum payment. In most cases, the approval to cash receipt process takes as little as eight hours or a couple of days.

Getting Pre Settlement Lawsuit Funding

Once you receive your pre settlement funding, you will be responsible for paying back the loan only when the settlement is approved. In the event that a settlement is not reached during the litigation process, you are not under any obligation to pay back the loan or cash advance to the lender. This is part of the agreement in pre settlement lawsuit funding.

One of the primary reasons why people apply for pre settlement lawsuit funding in the first place is because the lawsuit date is schedule for several months or years in the future. If you need cash now and have exhausted other methods of financing, such as personal loans from a bank or borrowing money from family members, you may be able to get a cash advance from pre settlement loans. These funds can help to pay for some of your financial obligations until the court date or until the settlement is reached. There are a number of companies that are willing to assist with the pre settlement lawsuit funding process, but it may be in your best interest to consult with a few companies to get the best rate or quote for a loan amount.