If you’ve won a lawsuit or settlement but are still waiting to receive your payout, post-settlement funding can be helpful.
It’s a type of loan that can give you access to money now while you are waiting to receive your settlement funds.
Read on to learn more about post-settlement loans and how Injury Wallet can assist you.
What Is Post-Settlement Funding?
Post-settlement funding, also known as post-settlement loans or post-settlement lawsuit funding, is a type of financing that can be used to get an advance on a settlement that was already reached.
Post-settlement funding can be used for various purposes, such as paying medical bills, living expenses, or debts. It can also be used to invest in a new business or to start over financially.
Post-settlement funding is not a loan in the traditional sense. Instead, it is a non-recourse advance, which means that the lender cannot force you to pay the loan back if you do not receive your settlement money.
This makes post-settlement lawsuit funding a relatively low-risk option for borrowers.
How Post-Settlement Funding Works
To get a loan after settling a lawsuit, there are certain requirements that you will need to meet.
Specifically, you must be the plaintiff in the case (the person who filed the lawsuit), and you must have a successful claim that results in you receiving a monetary settlement.
Once you meet these requirements, you can begin searching for a post-settlement lender.
Before choosing a lender, however, you will need to provide them with some basic information about your case, such as what type of case it is, how much you expect to receive in a settlement, and when you anticipate receiving the settlement funds.
The lender will review your information and decide whether to approve your loan. If approved, you will receive your loan advance within a few days or weeks.
The advance amount will typically be a percentage of the total settlement amount.
How Injury Wallet Can Help You Get a Post-Settlement Loan
Injury Wallet is your one-stop shop for lawsuit funding. We can help you find the lowest rates and get the fastest approvals.
Our team of professionals is here to help you from applying for a post-settlement loan to receiving your funds.
Getting started with our online application is easy and hassle-free. All you need to do is answer a few questions, and we’ll take care of everything else.
Apply now and you can expect to receive the money within a few days.
Frequently Asked Questions About Post-Settlement Funding
Q: What Are the Qualifications for a Post-Settlement Loan?
A: To qualify for a post-settlement loan, you must have a pending settlement. You must also be able to provide documentation of your case and your expected settlement amount.
Q: How Much Can I Borrow with a Post-Settlement Loan?
A: The amount you can borrow with a post-settlement loan will depend on the value of your expected settlement and your creditworthiness.
Generally, you can borrow up to 100% of your expected settlement amount.
Q: How Long Does It Take to Get a Post-Settlement Loan?
A: Once approved for a post-settlement loan, you could have money in your pocket in as little as 24 hours.
Q: Is Post-Settlement Funding Safe?
A: Yes, post-settlement funding is safe. Post-settlement loans are non-recourse loans, which means the lender can’t pursue any assets other than the settlement funds you receive from your lawsuit.