How Pre-Settlement Financial Assistance Can Ease Your Immediate Financial Burden

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. 

Many lawyers brag about winning large settlements for accident victims. What they don’t talk about, though, is how lengthy and difficult it is to achieve such an outcome. Personal injury cases can last for months or longer, and you have bills to pay and debt building all the while.

If you feel as though debt is burying you alive, pre-settlement financial assistance is the lifeline you’re looking for. This guide explores pre-settlement lawsuit funding and the benefits it offers to financially challenged plaintiffs.

What Is Pre-Settlement Funding, and How Does It Work?

As you may have figured out from the name, pre-settlement funding is funding that you can apply for before your settlement check arrives.

Some people refer to pre-settlement funding as “lawsuit loans,” but it’s nothing like the bank loans you may be familiar with. You don’t have to put up collateral because the funding company takes its payment from your settlement. Additionally, there is no credit check so you can qualify even with a poor or average credit score.

Here are the basics of how pre-settlement financial assistance works:

1. You have an accident and hire a lawyer to file a lawsuit. Pre-settlement funding doesn’t have many requirements, but to qualify, you must have an attorney and an active lawsuit.
2. You complete a quick application for funding. The funding company determines whether you have a valid case type and the strength of your case. Many types of personal injury cases qualify, including car accidents, dog bites, slip-and-fall accidents, and medical malpractice.
3. If approved, the funding company will deposit money into your account within 24 to 48 hours. You can use the money for anything you need or want.
4. Once your case settles, your attorney will repay the funding out of your settlement and give you the remaining amount.

The Case-Strengthening Benefits of Financial Plaintiff Support

If your accident has left you in dire financial straits, pre-settlement funding provides a breath of fresh air. Here are just some of the perks you’ll enjoy with your pre-settlement funding.

• Helps You Afford a High-Quality Lawyer: When you’re injured by a careless driver or negligent dog owner, you don’t want that bottom-of-the-barrel lawyer who works out of a strip mall in the seediest part of town. You want a cutthroat attorney with a shark-like penchant for winning sky-high settlements for their clients. The trouble is that those lawyers are in high demand, and their prices reflect that. When only the finest representation will do, pre-settlement financial assistance helps you afford the legal team of your dreams.
• Gives Your Lawyer Time To Build a Strong Case: No matter how much of a superstar your lawyer is, they can’t build a case for you overnight. Personal injury cases can take weeks, sometimes much longer, to put together. Your lawyer has to add up your damages, interview witnesses, collect evidence, and much more. During all of this, you might start growing a tad impatient. Maybe you push your lawyer to hurry things along so you can cash your settlement check sooner. But good things, as they say, come to those who wait. Thanks to pre-settlement funding, you can give your lawyer all the time necessary to build a picture-perfect case.
• Enables You To Pay for Daily Living Expenses and Other Necessities: How will you pay for groceries and cover rent if you’re out of work because of your accident? If your bank account is looking a bit bare, consider pre-settlement funding. There are no stipulations on how you can use your funds. Spend the money on medical bills, groceries, credit card debt, and more.
• Allows You To Hold Out for a Fair Settlement: When you’re in financial trouble, taking that initial settlement offer the insurance company is dangling before you is tempting. You might think, “Maybe my case isn’t worth more than this. I don’t have time to waste finding out.” Taking the first settlement offer, though, is often a mistake. Insurance companies are masters at throwing you scraps and making you think it’s a feast. In reality, your case could be worth far more than you thought possible. Having pre-settlement funding gives you the luxury of waiting while your lawyer negotiates for the amount your case is worth.
• No Repayment if You Lose Your Case: Worried that your case might lose? There’s nothing to fear when you apply for pre-settlement funding. Even if your case does lose, you don’t have to repay the funding. Lawsuit financing companies can make this offer because they’re banking on the strength of your case. They’re the ones gambling on whether you’ll win or lose, not you.
• Won’t Hurt Your Credit Score: If you’re majorly in debt, your credit score is probably also in the gutter. The last thing you want is to do anything that’ll make your score plummet further. Pre-settlement funding doesn’t require a credit check, so there’s no impact on your score. Additionally, your credit score might increase if you use your funding to pay off your debts. That can make qualifying for new credit or being approved for a loan much easier.

Does pre-settlement funding sound like a fit? Call us!

Say Goodbye to Your Financial Worries With Rockpoint Legal Funding

Pre-settlement financial assistance offers plenty of benefits to those in financial distress. If that’s you, start the application process for funding today. It’s as easy as it is quick — if you’re approved, we can provide funding to you in 24 to 48 hours.

Call Rockpoint Legal Funding at (855) 582-9200 for a free consultation.