Personal Injury Lawsuit Cash Advances
Slip and fall injuries occur nearly everyday and the slip and fall injury lawsuit fundings are designed to help the victim mitigate some of the financial consequences. Older people suffering slip and fall injuries may have greater physical disability though age itself may not be a governing factor at all times. In most instances, the victim may be constrained to stay out of work for long periods of time drying up the financial resources to meet family expenses in addition to the medical expenses.
Most slip and fall injuries occur when you forgot salting your stairs after a snow fall or a business premises with wet floors did not put up appropriate caution signs. As a consequence when the plaintiff files a civil lawsuit, often times it takes several months or even years at times for a settlement to be arrived at. The bills however do not stop coming and to protect your credit score from sagging, you must find ways to meet those bills on time. Fresh credit is unlikely to come by because you have used up your limits and your credit score is a tad below the threshold limit. A slip and fall injury lawsuit funding can be of immense help to you to tide over the crisis.
Advantages of slip and fall injury lawsuit cash advances
Slip and fall injury legal funding come with some specific advantages. In the first place the legal loan companies do not run an income verification or credit check. Being a ‘no recourse loan’ you are not burdened with monthly payments and what is more, in the extreme event of your losing the lawsuit, you are not obliged to repay the loan!
The paper work
The paper work for obtaining a slip and fall injury lawsuit financing is simple and straightforward. Your Attorney is the first point of contact for this purpose and you will obtain his assessment of the lawsuit. In the process you can also discuss your intent to raise a legal loan and chances are that he/she will recommend a reliable lender for you to work with.
The costs
Since legal pre-settlement financing like slip and fall injury lawsuit cash advances rely on funds derived from the settlement and no other collateral is sought, you should expect to pay higher interest charges and costs. The risk factor for the legal funding companies is higher and therefore the enhanced costs are justified.
Being an informed borrower
Before rushing in with the slip and fall injury lawsuit funding (and remember it is not a lawsuit loan because if you do not win your case, you owe nothing), you must position yourself as an informed borrower. The internet is a helpful place to gain all the knowledge when you find quality time to engage in focused research. Legal finance may not be a source of windfall for you, but they can surely be helpful in crossing over a tight spot. Most legal funding companies will approve about 20 to 25% of the projected settlement amount and no more. Pegging your advance to the minimum needed rather than the maximum available will be ideal to safeguard your financial interests from the settlement.
.:About the author:.
Stanley DiCicco is the Cheif Operations Officer with Pegaus Legal Funding LLC. Stanley supervises the finance unit
and is the chief financial spokesperson for Pegaus Legal Funding LLC. With over 25 years high level executive
experience, Stanley has provided significant success in all aspects of financial and operational activities of the
firm.
