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 Pre-Settlement Funding
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Pre-settlement funding allows you to pay medical bills, utilities, mortgage payments and other expenses that you might otherwise be unable to pay when facing a lengthy legal battle. Being involved in a personal injury lawsuit is stressful; it may be months or even longer before you receive your settlement. In the meantime, you may be unable to work and the medical bills are only adding to what is an especially trying financial situation. Pre-settlement funding is a solution offered by lenders who specialize in helping individuals who are waiting on insurance or injury settlements get the money they need right away - not months down the road. Because the collateral used to guarantee repayment with pre-settlement funding is different, this is an easy, efficient process that doesn't involve the hassles typically found with a mortgage or standard loan. With these types of loans, you normally have to use a physical object that is conceived as valuable as collateral in order for the loan to be processed. With pre-settlement funding, the collateral is actually the estimated amount of money you will receive in your settlement, which has a fixed value by its very nature. What does this mean for you? Lenders who offer these loans can get your money almost instantly due to the fast, no-hassle loan process. Pre-settlement funding loans are useful in a number of ways; if you fear losing your home, the money can be used to pay down or pay off your mortgage. It may be that you are facing a mountain of medical and other bills, yet are unable to work because of your injuries or time spent in the courtroom. Pre-settlement funding allows you to pay medical bills and other household expenses, make necessary modifications to your car if you have been injured for easier entrance and exit, or even buy a new vehicle already equipped with features that make traveling possible. When your court case does eventually settle and you begin receiving your settlement payments, repayment of the funding loan is simple. The lawyer you currently use will take care of paying the loan for you; out-of-pocket expense is something you won't likely have to worry about, as your source of income will be more than sufficient to repay both the loan and any accrued interest. Typically, individuals only borrow a portion of the amount they expect to win in their settlement, so you will have money left over once the pre-settlement funding loan has been repaid. At Mayfield Settlement Funding, we offer worry-free funding that will put your mind at ease. In the unlikely event that you do not win your case, you are not responsible for repayment of the loan. Never worry about how you will repay the loan if for any reason you do not receive your settlement. No hassles, no worries - just money when you need it. Call us at (888) 800-8400 or visit our immediate service page to have one of our
Services rendered by Mayfield Settlement Funding are not to be considered lawsuit loans. The terminology “loan” and “loans” are not correct legal or financial terminology or definitions describing transactions that provide legal advances or legal funding. Loans require repayment, which is unlike legal funding. Legal funding only requires payment when the plaintiff receives a monetary award in their case and is disbursed out of settlement. |
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