The world of lawsuits and legal proceedings can be a difficult and drawn-out process. Whether it’s an insurance claim, personal injury lawsuit, or even workers compensation claim it can be scary to try and figure out how you’re going to manage to pay the bills and every day living expenses on top of attorney and court fees, especially if you’re out of work as a result of the case.
One potentially life-saving option is obtaining a pre-settlement cash advance. Pre-settlement funding is perfect for people who are in need of a quick cash option for whatever life happens to throw at you. Here are three reasons to think about a pre-settlement cash advance if you’re awaiting a legal result.
1.) Living Expenses: Lawsuits and court cases can take an extremely long time to fully process. Depending on the type, severity, and level of the court involved among other things will determine just how long it will take. It generally takes about 45 days on average to receive your money after selling a structured settlement, so even if that’s what you plan on doing you need money to hold you over in the meantime. Pre-settlement options will give you the money you need to support you and your family.
2.) Medical Bills: A large portion of court settlement cases are related to some kind of medical expense. Whether it be directly a medical malpractice case, or an injury suffered that resulted in medical bills you’re going to want to pay that debt off as fast as possible before it balloons on interest. The problem is 75% of Americans live paycheck-to-paycheck and and 27% have no savings at all. People in those situations have almost no shot of unburdening themselves from medical debt without some sort of help. Pre-settlement cash advances can do just that.
3.) Legal Fees: Finally if the day-to-day expenses and medical bills weren’t enough to deal with you’re going to have to pay your lawyer and whatever court fees you accumulate over your time going through the process. While it would be great to be able to pay them with the money you’re about to win, they’re going to want their money before that presumably. Take care of these costs beforehand and rest assured knowing once you get your settlement money you’ll be debt free.
For more information on your particular situation it’s best to speak with a financial and/or legal adviser to help you on an individual basis. The information provided here should not be miscontrued as professional legal advice.