Pre-Settlement Funding Helps Reduce Your Clients’ Financial-Related Stress
When someone is injured and litigation ensues, it often starts a long and complicated process that can take months or even years to resolve. The necessary legal maneuverings can overwhelm plaintiffs whose main goal is return to their normal lives. Mounting bills and depleted bank accounts could contribute to additional stress.
Fortunately, one monetary option often available to plaintiffs is simple, easy and specifically designed to at least partially help resolve your clients’ financial pressure.
Pre-Settlement Funding. Plaintiffs who can’t work because of an injury can often quickly run through their savings while waiting for their case to navigate through the legal system. Borrowing funds to cover living expenses is often out of the question and impractical.
Settlement funding, where plaintiffs receive an advance on their personal injury claim, can solve this financial predicament. Settlement funding puts money in plaintiffs’ pockets before their case is resolved and requires no credit check, collateral, income verification, or monthly payments. The only “qualifier” is the strength of the plaintiff’s case.
How To Acquire Pre-Settlement Funding For Your Clients
Step One: Determine how much money the plaintiff needs to pay for general living expenses, being careful to leave enough excess funds upon settlement.
Step Two: Either you or the plaintiff fill out and submit the online application form from a settlement funding company such as Rockpoint Legal Funding. Be sure to discuss the costs of settlement funding with your client.
Step Three: All parties approve the approved funding amount and funds are distributed to the plaintiff—usually within 24 hours.
The funds can be used at the discretion of the plaintiff: to pay for rent or mortgage payments, uncovered medical bills or general day-to-day living expenses. A significant advantage over traditional loans is that the advances are risk free–there is no obligation for repayment even if the case is lost or recovery is not enough to cover the amount received. Additionally, there are no monthly payments to worry about.
Being injured is stressful enough. Pre-settlement funding helps reduce part of the financial worry.