After a personal injury, dealing with financial uncertainty is an unfortunate reality for many. Even with a lawsuit pending, bills are due, and ends need meeting. With this financial uncertainty, a settlement—even one that doesn’t fully compensate for damages—can feel like a necessity.
Thanks to lawsuit funding, however, an early settlement is anything but a necessity. This often-overlooked method of lending can relieve some of the immediate financial burdens and help ensure that you have the time you need to fight for a fair settlement.
How Do Lawsuit Loans Work?
A lawsuit loan is a form of non-recourse loan that provides funding for lawsuits. With most loans, a lender can seize a borrower’s other assets after default if the loan collateral is not enough to cover the debt.
A non-recourse loan is secured by specified collateral and cannot be recouped through any method other than seizing the collateral.
In the case of a lawsuit loan, the collateral is the final settlement of the lawsuit. Because the only collateral is the lawsuit’s settlement, the borrower has nothing to repay if there is no settlement.
How Will Lawsuit Funding Help Me Get a Larger Settlement?
A lawsuit loan can help you get a larger settlement by relieving short-term financial burdens while you negotiate for a settlement. After an injury, costs can add up quickly. You may be unable to work for some time.
Despite a lack of wages, you may have medical bills to pay in addition to everyday household expenses. Thus, a personal injury can quickly put you underwater financially.
The party you are suing can use this financial strain as leverage. If they know you are struggling financially and know you have bills to pay soon, they will likely offer you the smallest settlement possible, which will not fully compensate you for all damages. When under an immediate financial strain, it is tempting to take such an offer—after all, you have bills to pay.
With a lawsuit loan, you don’t have to choose between holding out for an adequate settlement and staying afloat financially. Instead, you can pay those outstanding bills and ongoing expenses as settlement negotiations play out that will net you the compensation you are due.
Is Lawsuit Funding Right for Me?
If you’re suffering from the financial burden of a personal injury and feel torn between taking the first settlement offer you receive and holding out for better compensation, lawsuit funding is an excellent option for you.
A lawsuit loan will help tide you and your family over while you fight for a settlement that fully compensates you for your damages. A lawsuit loan will give you the financial peace of mind to focus on what’s most important: healing and moving forward from your injury.
What If I Lose My Injury Case?
If you lose your personal injury case and no settlement is reached, don’t worry.
Because the only collateral on the loan is the final settlement amount, you won’t have to pay your lawsuit loan back if there is no settlement. Your loan obligation will be over—no tricks, no hidden fees, no repossessions.
How Can I Get the Lowest Rates Possible for My Loan?
The best way to get the lowest possible rate for your lawsuit loan is to shop around and compare loan offers. By comparing loan offers, you will be able to find the best interest rate for you. You can even use competing offers as a bargaining chip in negotiating your loan’s interest rate.
Why Should I Work With Injury Wallet?
If you’re thinking about taking out a lawsuit loan, look no further than Injury Wallet. After you submit your application to Injury Wallet, we send it to dozens of the country’s top lawsuit lenders. We then look at all of the loan offers on your behalf to find you the best rate possible.
We’ll send you our results within 24 hours of your application’s submission so you can get funding for your lawsuit as soon as possible.
At Injury Wallet, our goal is to remove as much stress from the personal injury lawsuit process as possible. You don’t need any more strain than you already have after a personal injury, so we do the work for you.
Ready to Get Started?
When finances are strained, we understand the pressure you might feel to settle quickly and put your lawsuit behind you—Injury Wallet can help relieve you of that pressure.
If you are having a hard time making ends meet while you wait for your injury settlement, contact us today for a free consultation. Don’t take a settlement that doesn’t fully compensate you for your injuries. Get a low-risk lawsuit loan through Injury Wallet today!