The Myth of the “Same Day” Settlement Loan
Can I Get a Pre-Settlement Loan Today?
Here’s the truth: Any pre-settlement funding provider who is promising that they can get you cash on the same day that you apply is almost certainly lying to you.
In fact, many of our competitors use the phrase “same-day” in their marketing copy only to pull a bait and switch and promise only to get you funds “as soon as tomorrow” in the fine print. As you well know “tomorrow” is not the same as “same day” which would of course be TODAY!
At Nova Legal Funding we understand that speed is crucial. When our clients come to us they are often in dire need of financial help, and we make it a top priority to approve funding and get cash in your account as quickly as possible.
However, it doesn’t do anyone any good to rush the funding process by promising same-day pre-settlement loans. We balance speed with thoroughness to make sure that your settlement advance is issued in a responsible and efficient manner.
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 a Settlement Advance 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, 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 settlement loans are risk-free.
What Can I Use My Fast 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 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 settlement loan for any expenses you need to be 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 fast 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 another 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 deposits, wire transfers, or through Western Union.
Why Should I Get a 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 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:
- Auto Accident Lawsuit Funding,
- 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 Next-Day Settlement Loans?
We currently provide pre-settlement funding throughout the United States excluding Tennessee, Colorado, and Maryland. Here are the most popular states for settlement loans:
- Alabama Fast Pre-Settlement Loans
- Arizona Fast Pre-Settlement Loans
- California Fast Pre-Settlement Loans
- Georgia Fast Pre-Settlement Loans
- Illinois Fast Pre-Settlement Loans
- Indiana Fast Pre-Settlement Loans
- Louisiana Fast Pre-Settlement Loans
- Massachusetts Fast Pre-Settlement Loans
- Michigan Fast Pre-Settlement Loans
- Minnesota Fast Pre-Settlement Loans
- Missouri Fast Pre-Settlement Loans
- New Jersey Fast Pre-Settlement Loans
- New York Fast Pre-Settlement Loans
- North Carolina Fast Pre-Settlement Loans
- Ohio Fast Pre-Settlement Loans
- Pennsylvania Fast Pre-Settlement Loans
- Texas Fast Pre-Settlement Loans
- Virginia Fast Pre-Settlement Loans
- Washington Fast Pre-Settlement Loans
- Wisconsin Fast Pre-Settlement Loans
Apply for Fast 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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