People nowadays prefer to obtain loans for numerous reasons. Whether you want to repair your car, fix the leaking roof, or pay an unexpected medical bill, you may think about obtaining a loan.
However, obtaining a loan would put you in debt. Nevertheless, that’s not always the case. When you need some cash immediately while involved in litigation and don’t have any other option to consider, you may think about going for pre-settlement funding.
This option, which you obtain from a settlement lender, is based on the future settlement proceeds of your case. The good thing is that pre-settlement funding is non-recourse; therefore, you don’t have to pay it back unless you win your case.
It is possible for you to obtain the money you need with the help of a lawsuit loan company.
What exactly is a lawsuit loan?
Before getting into what a lawsuit loan company is, you should first have a clear understanding of what a lawsuit loan is all about. A lawsuit loan is a legal funding method where you get an advance against an upcoming settlement. Your lawyer will assure the lender that your case is strong enough to win, which gives them the security that you are going to make a repayment for it in the future.
This is a non-recourse financial agreement that you get into. They are totally dependent on the merits of your case as well as the successful outcome of the litigation.
In case you don’t win the lawsuit, there is no need for you to repay the funding amount you potentially borrowed from your case. On the other hand, it is possible for you to get your lawsuit loan approved within just 24 hours with the best lenders. Once the loan is approved, funds will be compensated if the attorney complies with signing on your loan.
Let’s learn more about lawsuit funding
The concept behind lawsuit funding is simple and easy to understand. You will be able to apply for this loan over the phone and many times online. Then the underwriters will carefully evaluate your case. In case there is an issue, the underwriters will get in touch with your attorney again. Upon signing the loan, the total amount will be deposited into your account with a bank deposit. Or also, you can expect to receive it on the following day in the form of a certified check.
To obtain this loan, you will need to be represented by a lawyer. That’s where you should get in touch with a reputable lawsuit loan company. Then you can receive all the support needed to go ahead and obtain the funds you need.
Is it a good idea to go for pre-settlement funding?
Most people tend to obtain settlement advances to cover up personal expenses and bill payments. You can either apply against the successful settlement amount you were offered, a case that is in the pre-settled stage, or a jury verdict awarded to you.
This loan is an identified option for personal injury plaintiffs and is quite popular among people who go through car accidents, slip and falls, and medical malpractices. A personal injury can lead someone to a financial crisis. In such a situation, this type of loan can provide much-needed assistance to a person in need.
The lawsuit loan company working with you will take a risk to invest in your case. That’s because every single case has a different risk level associated with it. In fact, all the cases don’t have equal chances of being eligible for funding.
Contact Baker Street Funding – Review of the best lawsuit loan company, according to my research
If you are looking for a company that can help you proceed with the settlement funding process, you may seek the assistance of Baker Street Funding. The company has been able to maintain a strong reputation by catering to the needs of more than 34,000 clients throughout the past. You will be able to gain access to proven approval methods and receive assistance as per your expectations.
How to qualify for a Baker Street Funding lawsuit loan?
Baker Street Funding requires that all borrowers be at least 18 years old, have a verifiable and strong lawsuit, and are either a U.S. citizen, a permanent resident, living in a fundable state and must have retained an attorney. Baker Street Funding loans are not available to residents of non-fundable states.
Baker Street Funding has a minimum funding requisite of $1,500, and they do not check your credit history and credit score, nor your work status.
Baker Street Funding also allows clients to have as many lawsuit loans through Baker Street Funding at the same time. They also provide consolidation on previous funding from other firms by lowering their rates and getting them new advances. However, the combined minimum outstanding from another funding company must have left up to 10% of what the case is currently worth.
You can visit bakerstreetfunding.com and get additional information.