WHY PRE-SETTLEMENT FUNDING IS THE BEST CHOICE

If you suffered a personal injury that has you out of work and unable to pay your bills, you might be entitled to compensation. However, the mere thought of filing reports and hiring attorneys will send shivers down most people’s spines. Not only that, but not everyone has the cash for lawsuits just lying around. So, is it worth the hassle? The good news is, securing legal funding is a lot easier than most people think. Here are some of the reasons why you should consider pre-settlement funding.

LEGAL SETTLEMENT LOANS DON’T DEPEND ON YOUR CREDIT SCORE

If you’re considering applying for a loan, there are many factors you need to consider. The most important being your credit score. In order to secure a personal loan, you need a fairly high credit score. If your score isn’t high enough, you might not get it. Another factor is the interest rate, which tends to be around 9-11 percent for personal loans. This means that you will need to return the full amount with interest – whether you win your case or not.

Legal funding, on the other hand, doesn’t depend on your credit score. In fact, the only factor affecting your chances of securing personal injury funding is your case and evidence.

CREDIT CARDS AND BORROWING MONEY FROM FAMILY HAS DOWNFALLS

Pre-settlement funding can help you cover the costs of living expenses, medical bills and other needs as you wait for a settlement. However, some people will decide to use a credit card instead. Just like a personal loan, drawbacks of using your personal credit card are having to pay back the payments made whether you win your case or not. {Read More}