Understanding Same Day Settlement Loans
When you file a lawsuit, you might find yourself struggling with finances, especially if you are injured.
If you cannot work and bills keep piling up, you might want to get your settlement money now instead of later.
Unfortunately, that might mean accepting a low settlement offer.
Instead of taking a lower settlement than you deserve, you should consider same day settlement loans, otherwise known as pre-settlement funding.
Here, we’re going to discuss what pre-settlement funding is and how it can help you pay your bills and continue your lawsuit.
What is Pre-Settlement Funding?
Pre-settlement funding is a cash advance given to you in exchange for a portion of your potential settlement. When you win your case, your lawyer uses a portion of your settlement to pay back the loan.
However, pre-settlement funding isn’t technically a loan since funding is non-recourse. We’ll discuss what that means later.
What is the Difference Between Same Day Settlement Loans and Traditional Loans?
Much like a regular loan, whatever money a funder provides gains interest until the end of your lawsuit. If you win your lawsuit or receive a settlement, you must pay back both the principal amount and interest.
However, same day settlement loans have a few different advantages over regular loans. First, applying for pre-settlement funding doesn’t require a credit check or employment information. The lender only approves applications based on the strength of your case and the amount of money you need. In addition, same day settlement loans are risk-free.
What Can I Use My Same Day Settlement Loan to Cover?
People use pre-settlement funding for a variety of financial obligations. If you cannot make rent or pay your mortgage, you can use your cash advance to make monthly payments. You might also consider using a lawsuit loan to pay for groceries, medical bills, legal fees, and more while you recover from your injuries or find new work. These are just some uses of your same day settlement loan.
Typically, clients use our funding to avoid things like:
- Utility shut-off,
- Vehicle repossession, and
- Damage to credit history.
However, you may use your same day settlement loan for any expenses you need covered.
What Happens if I Lose My Lawsuit?
Since pre-settlement funding is non-recourse and risk-free, you don’t have to pay back your loan if you lose your case. Lenders take all of the risk, so if you don’t receive a settlement, they don’t require repayment.
How Can I Qualify for Pre-Settlement Funding?
Applying for pre-settlement funding through Nova Legal Funding is fast and easy! All you need to do is submit a short application with your name, email address, phone number, state, case type, and contact information for your lawyer. Keep in mind, you must have a lawyer and must have an active lawsuit in order to qualify for pre-settlement funding.
Next, we discuss your case with your lawyer to determine if a same day settlement loan is right for you. We look at every aspect of your case with your lawyer to determine how much your potential settlement may be and if you have a strong case.
Finally, upon approval, we send your cash advance to your bank account or other preferred method of payment within 24 hours.
Can I Get My Settlement Money Now From Nova Legal Funding?
Yes! Once we approve your application for pre-settlement funding, we send you cash within 24 hours. We transfer cash advances to clients in a variety of ways, including overnight checks, direct deposit, wire transfer, or through Western Union.
Why Should I Get a Same Day Settlement Loan from Nova Legal Funding?
Nova Legal Funding is one of the largest nationwide providers of same day settlement loans for almost any type of lawsuit. In addition, we have the lowest rates in the industry and will match or beat anyone’s rate. Our interest rates are as low as 1-3% and we don’t charge any monthly or upfront fees. Most importantly, our pre-settlement funding is 100% risk-free, meaning you don’t pay us back unless you win your case.
Pre-Settlement Funding Buys Your Lawyer Time to Fight Back and Get a Larger Settlement
When you file a claim, insurance companies often take advantage of your vulnerability by delaying the litigation process. As a result, many victims who desperately need money in order to receive medical treatment or pay bills might accept lower settlement amounts than they deserve.
Getting a pre-settlement lawsuit loan helps you regain enough financial independence to last until the end of your lawsuit. This gives your lawyer time to level the playing field against the insurance company and get you the maximum compensation you deserve.
Cases Eligible for a Same Day Settlement Loan
At Nova Legal Funding, we provide same day settlement loans for a wide range of cases, including but not limited to:
- Car accidents,
- Motorcycle accidents,
- Pedestrian accidents,
- Medical malpractice,
- Premises liability,
- Dog bites,
- Wrongful death,
- Workers compensation,
- Product liability,
- Defective medical devices,
- Defective drugs, and
- Wrongful termination.
From personal injury to employment law, we consider funding for most types of lawsuits. If you want to know if your case qualifies for pre-settlement funding, call us toll-free at 866-691-0556 to discuss your case.
How Much Funding Do You Provide?
Depending on the value of your case, we can send you funding ranging from $500 to $2,500,000.
In What States Does Nova Legal Funding Provide Same Day Settlement Loans?
We currently provide pre-settlement funding throughout the United States excluding Tennessee, Colorado, and Maryland.
Apply for Pre-Settlement Funding Now
At Nova Legal Funding, we understand the struggles that victims of accidents and job loss go through during the legal process. Pending cases often take months or even years to resolve, leaving you struggling physically, financially, or emotionally. Our pre-settlement lawsuit loans help keep your head above water while you wait for your settlement.
We work together with you and your lawyer to determine the value of your case and assign a funding amount. Once your lawyer provides us with your case documentation, we work hard to get you approved within 24 hours.
If you need your settlement money now but can’t wait for your lawsuit to resolve, apply for one of our lawsuit loans today. We have the lowest interest rates in the industry and offer risk-free loans, meaning you don’t pay us back unless you win your case. To learn more about pre-settlement funding or to apply for funds, give one of our lending specialists a call at 866-691-0556 or fill out our online application.
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