Disclaimer: Consumer legal fundings and advances are not loans under applicable financing laws. Rockpoint’s products are non-recourse, meaning if you don’t win your case, you don’t have to pay us back. Receiving financial support in connection with a legal case is typically (and oftentimes incorrectly) referred to as a “lawsuit loan” or “loan.” Therefore, for the ease of search references, these terms may be used in this context to refer to our funding products, but we maintain our separateness from consumer loan products in all legal aspects.
Did you just reach a settlement in a personal injury lawsuit? You might benefit from applying for post-settlement lawsuit funding through a lender like Rockpoint Legal Funding.
Post-settlement funding is available to many personal injury plaintiffs who have agreed to settlements in their cases. In many instances, you may receive immediate funding from Rockpoint in as little as just a day or two in exchange for a portion of the settlement sent to you by the defendant in your case later.
Taking advantage of the post-settlement funding Rockpoint provides after reaching a settlement agreement will help you in many ways. See below for several of the biggest benefits of post-settlement lawsuit funding for personal injury plaintiffs.
Bridges the Financial Gap After a Personal Injury Settlement
Some personal injury plaintiffs are under the impression they’ll receive post-settlement compensation from defendants right away. More often than not, this couldn’t be further from the truth.
In many instances, plaintiffs must wait at least a few weeks to receive compensation. They might even end up waiting for months on end for settlement checks to arrive. This might not seem like too long to wait, but for those in dire financial straits, having the cash on hand can make all the difference.
Post-settlement funding bridges an important gap for personal injury plaintiffs. They’re able to collect compensation now versus waiting for an extended time to receive their settlements from defendants. It’s nice to know you have this option if you run into any financial issues in the aftermath of a personal injury lawsuit.
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Delivers Fast Financial Relief
After reaching settlements, personal injury plaintiffs sometimes apply for personal loans to give themselves the financial relief they need. The problem with doing this is that it typically takes time for them to get approved.
You will usually need to go through a strict underwriting process when applying for a personal loan, which will call for a credit check and other steps before a lender decides whether to extend a loan to you. You may, for example, need to provide a lender with extensive financial and employment information to qualify for a personal loan.
This isn’t the case with post-settlement lawsuit funding. You may fill out an application for a settlement cash advance through a lender like Rockpoint Legal Funding and be approved for a lawsuit settlement loan within just days if not hours. This will enable you to gain access to the fast financial relief you need rather than forcing you to wait for it to arrive.
Covers Medical Bills, Legal Fees, and Everyday Expenses
Personal injury plaintiffs may worry about the limitations lenders like Rockpoint Legal Funding might put on post-settlement cash advances. Thankfully, you won’t need to be concerned about this.
Rockpoint doesn’t place any limitations on post-settlement funding. You can utilize it to pay:
- Medical bills
- Legal fees
- Everyday expenses, such as mortgage/rent, utilities, groceries, etc.
Some people even opt to use post-settlement lawsuit funding to pay for vacations, holiday gifts, birthday and anniversary celebrations, and more. You will appreciate not having a lender looking over your shoulder and judging what you decide to use post-settlement funding for.
You will also appreciate the money you can potentially save when you use post-settlement lawsuit funding to pay off medical bills and similar expenses. You can sidestep the interest and late fees that often make these expenses unmanageable.
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Eliminates Lawsuit-Related Stress
Filing a personal injury claim and going through the legal proceedings may add a lot of stress to your life. You might even regret filing a lawsuit at times, as it forces you to focus on the accident and the financial troubles it has caused you for months or even years.
There isn’t a surefire way to eliminate all the stress associated with a personal injury lawsuit. However, you can minimize it by looking into applying for a pre-settlement lawsuit loan and/or post-settlement funding. They’re both excellent options for those interested in seeking financial relief during or even after a personal injury lawsuit.
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Requires No Personal Risk
Arguably, the biggest benefit of post-settlement funding is that it doesn’t require you to take on any risk when you apply for it. Instead, lenders like Rockpoint Legal Funding are responsible for taking on all the risk that comes with this type of funding.
Why? Well, post-settlement lawsuit funding is a form of non-recourse financing. This means you won’t have to live up to the repayment terms attached to a legal loan if you don’t ultimately collect compensation in a personal injury case.
This should provide additional peace of mind when you’re thinking about applying for post-settlement funding. You will like knowing that you can do whatever you would like with a legal loan and not have to fret over repaying the money you’ve borrowed if your case isn’t successful.
Call Rockpoint Legal Funding To Begin Embracing the Benefits of Post-Settlement Funding
You might anticipate collecting compensation in your personal injury case as soon as you reach a settlement agreement with a defendant. So often, this isn’t the case for many personal injury plaintiffs. They must wait weeks for their settlement checks to show up before they can deposit them into their bank accounts.
Avoid this hassle by applying for post-settlement funding through Rockpoint Legal Funding. You will sleep so much better at night when you have a lawsuit loan bridging the gap between when your lawsuit ends and when you receive a settlement check.
Contact us at (855) 626-3214 to learn more about the advantages of post-settlement lawsuit funding.
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