Pre-settlement funding may sound like a complicated process, but it’s actually very simple.  If you are involved in a personal injury lawsuit and are the victim of negligence, you may find yourself in a serious financial situation because of medical costs or even your inability to work.  Litigation financing is simply a way to get a portion of your expected settlement immediately; in other words, you can get access to some of your money now, so that you can pay the bills and live comfortably while awaiting settlement of your lawsuit.

How does pre-settlement funding work?  It’s simple.  The application requires only the details of the accident that caused your injuries, and information about those injuries.  Unlike other more conventional loans, you will not be required to reveal information about your credit standing, background data, or employment status or history.  Your lawyer will provide the necessary information, and both of you will sign off on the request.  Litigation financing companies are only interested in how solid your legal claim is, so they can determine whether the odds are strong that you will win.

If approved, pre-settlement funding makes it possible for you to pay the household bills, medical expenses and even attorney fees.  It is widely known that personal injury lawsuit are often lengthy, taking months to settle.  In the meantime, you will be able to live as you did before the accident, instead of facing tough financial issues and possibly even bankruptcy.

With pre-settlement funding, there are no up-front costs or fees you must pay out of your own pocket.  You never repay a dime until your case has been won and you have access to your money.  Therefore there are no monthly payments to worry about, you simply repay the advance when you have your money, along with interest and any applicable fees.  If the outcome is not what you expected and you do not win your lawsuit, you owe nothing whatsoever.  Litigation financing is non-recourse.

How long does it take?  In most cases you will get your advance within 24 hours of applying.  This is the quickest way for injured victims to get the money they need to pay bills and keep creditors at bay.  Is Mayfield pre-settlement funding the right company for your situation?  Your attorney can help you decide if this is the best path to take, or you can learn more online so that you are completely familiar with the process when you discuss the possibility with your lawyer.

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