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Lawsuit Funding: When’s the Right Time to Apply?

Posted on March 25, 2011 by Fast Lawsuit Team

A personal injury lawsuit is not a walk in the park. It often involves a long and trudging journey involving lots of waiting, as well as emotional and financial upheaval. First, this will usually involve a serious injury, one that may cost you quite a lot of money in hospital bills as well as rehabilitation expenses. Then, there are issues involving whether you can continue working or whether your employer is willing to keep you in their employee’s roster. Added to these would be the pile of household bills you still have to pay, even with your injury.

So, let’s get back to the question of when you should apply for lawsuit settlement funding. Here are some indications that could tell you that you need to get the funding:

- You have filed a lawsuit for your personal injury. When you have made the decision to file a lawsuit and say no to early settlement offers (which usually is smaller and will not cover your medical expenses and other related costs regarding your injury), you should start considering getting lawsuit funding. The lawsuit funding specialist will review the details of your case to see whether you are eligible to get a pre-settlement funding. Don’t wait for months or years to pass before you consider getting pre-settlement funding. At that point, you may already need to deal with late-payment fees, foreclosure or repossession. Don’t take risks about your family’s welfare. Your personal injury may mean that you and your family will have to tighten your belt but lawsuit funding will help you maintain your financial stability while you are involved in a lawsuit.

- Your financial status is precarious. While you’re waiting for the lawsuit to settle, you have the prospect of seeing your savings in danger of being depleted and bills piling up. A lawsuit may cost you – not just emotionally but also financially. We suggest that you should not wait for the bills to pile up. At this point, it is not a good idea to wait until you are unable to keep up and start missing payments on your bills and mortgage. This will result in a negative effect on your credit standing, something you would like to protect, especially at a time like this.

You should remember that the defendant does not lose anything by delaying payment. It may actually be a strategy to get you to accept a lower settlement.

- You have no or very little insurance coverage. The medical expenses may be considerable enough to make you think about accepting a smaller settlement when it’s offered to you, even if you know that you should have received a larger amount. Getting funding will help speed up recovery since you can afford to pay for medical treatments that you otherwise would have refused since your finances won’t allow it.

- You have a hard time getting a loan. If you can get a loan, that’s well and good. A loan is actually cheaper than personal injury lawsuit funding. But a loan will require a credit check. The bank will look into your employment and credit records. If you have no credit history or have bad credit, then your loan application will be denied. On the other hand, lawsuit funding (which is sometimes dubbed as a settlement loan) is based on your case and not on your credit history. Lawsuit funding will also not require you to pay anything until your case is settled. And, if your lawsuit is unsuccessful, you don’t need to pay the money back.

Lawsuit funding can be an excellent lifeline at a time when you are a more than in over your head. It allows you to be on your winning mode – to be able to pursue your personal injury lawsuit and see it to the successful end.

FastLawsuitMoney.com is a provider of quality settlement funding services, specializing in a wide range of lawsuits – including drunken driving incidents, construction accidents, dog bites, commercial vehicle accidents, defective products and other incidents that caused wrongful death or catastrophic injuries. Be sure to call us to get funding at that crucial time – our evaluation process is designed to allow you to get your hands on the cash in as quickly as 24 hours.

Here are some tips to remember:

- Never sign anything without your lawyer’s advice. You may be tempted to “go at it alone”, but the expense of an attorney is well worth the legal advice and protection you can get. When you are injured due to another party’s mistakes or negligence, it is best to retain a lawyer to help you get the settlement you deserve. This is not the time to cut corners.

-  Find a lawsuit funding company that has a solid reputation of transparency and fair dealings such as FastLawsuitMoney.com.

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