When your personal injury claim or lawsuit resolves, you breathe a sigh of relief. Finally, after long months or years, you can collect the compensation you’re entitled to.
However, you may be disappointed if you expect to receive your payout immediately. What if you need cash fast, but your settlement processing runs into delays? In this situation, quick and secure post-settlement loans can help you hold out until your money comes through.
What Are Post-Settlement Loans?
Post-settlement loans are a type of funding for plaintiffs whose claims or lawsuits have already settled successfully. All that’s left is to wait for their money to arrive.
Although “legal loan” is the common term to describe this arrangement, post-settlement funding isn’t a loan in the traditional sense. Rather, it’s an advance against the settlement you’re due to receive. Rockpoint Legal Funding buys a portion of your future payout and gives you early access to funds. You pay back the funds plus associated interest and fees only when you collect your settlement.
Unlike a pre-settlement loan, which is a financial service we offer people whose cases are still pending, post-settlement funding is for the period between accepting a settlement agreement and the insurer or defendant issuing a payout.
Why You May Need a Post-Settlement Lawsuit Loan
Settling a personal injury case is a major hurdle. However, even when you and your lawyer achieve this milestone, you may have to wait several weeks for your settlement funds to arrive.
Why do these holdups happen? Once you finalize and sign your settlement agreement, the insurance company must process it before issuing a check. Weekends, holidays, bank processes, unpaid liens, and other technical issues could mean you’ll have to wait longer until you receive your money.
Wrongful death cases and minors’ claims may also run into additional procedural delays. In rare cases, the other side may even appeal the court decision and drag out the process indefinitely.
If you have the funds to tide you over until your settlement check arrives, that’s great. However, maybe you’re facing urgent medical bills, overdue mortgage payments, car repairs, or other costs that can’t wait. In this case, post-settlement loans can be a convenient solution. You can access funds quickly, cover your immediate costs, and repay the legal loan upon collecting your settlement.
Who Is Eligible for Post-Settlement Funding?
To qualify for a post-settlement loan, you must have a resolved case. In other words, this type of funding could be an option if an insurance company has approved your claim and issued a settlement offer or if you have won an award in a court case.
We offer post-settlement loans in a wide range of cases, including auto accidents, medical malpractice, nursing home negligence, premises liability, and defective products. You’ll typically need to provide documentation proving that you have a resolved case, such as a copy of the settlement agreement.
Since post-settlement funding is a cash advance against your settlement, we won’t need to run a credit check, so applying for funding won’t harm your credit score. Likewise, you don’t have to provide collateral or proof of employment. The amount of funds we may forward depends on the size of your upcoming settlement.
Are There Any Risks to Requesting a Personal Injury Settlement Loan?
All types of litigation funding we offer, including pre-settlement funding and post-settlement loans, are non-recourse. This means that if a plaintiff loses a case, they don’t owe us anything.
With post-settlement loans, the chances of your claim falling through are very low since you’ve already finalized an agreement. However, even in the unlikely event that the other side suddenly withdraws from the settlement agreement because of some legal issue, you won’t have to repay your legal loan. It’s simple: You only pay us back when you collect your compensation.
Why Choose Rockpoint Legal Funding for a Post-Settlement Loan?
When applying for post-settlement funding, you must be sure you’re working with a reputable provider that delivers secure financing. Plaintiffs choose Rockpoint Legal Funding for the following benefits:
- Transparency. With Rockpoint Legal, there are no surprises. We’ll give you a clear picture of our loan options, fees, and repayment terms.
- Competitive rates. As a self-funding provider rather than a broker, we can offer competitive loan terms and bypass brokerage fees.
- Hassle-free approvals. If you’re eligible, we’ll evaluate your case quickly and issue the funds without delay. You can expect a stress-free, streamlined approval process and fast access to the money you need.
- Peace of mind. Once you receive the funds, you don’t have to worry about repayment until you collect your settlement.
The Loan Application Process at Rockpoint Legal Funding
At Rockpoint Legal Funding, we understand you need to access cash quickly when expenses are piling up. Our streamlined and applicant-friendly legal funding process follows these steps:
- Fill out a brief initial form. You’ll need to provide some basic information and state your desired funding amount.
- Wait while we review your application. We’ll look into your case to determine whether we can approve your application and how much funding we can provide. If your case has already settled, this step should be straightforward.
- Accept a funding offer. We’ll issue a detailed funding offer that specifies the legal loan amount, repayment terms, and associated interest and fees.
Once you agree to our funding terms, you can receive the money quickly, usually within 24 hours or even on the same day. You can use the funds for any pressing needs, like mortgage payments, living costs, or urgent home repairs. When your settlement check comes through, you repay us. There’s no catch, no hidden fee in sight, and no risk.
Do You Need Money Quickly After Your Case Settles? Call Rockpoint Legal Funding
Are you struggling with bills while waiting for your settlement check? At Rockpoint Legal Funding, we offer fast, risk-free post-settlement loans. Apply now and receive the funds you need to stay afloat until your money comes through.
Call (855) 591-2489 or complete our quick online application to request post-settlement lawsuit funding.
