If you have a personal injury case ongoing g, you are eligible to apply and qualify for a lawsuit advance loan before you case is settled. Personal injury victims have been saved by lawsuit loans across the country from accepting low-ball settlements as well as being able to pay their bills. Many personal injury victims continue to choose lawsuit advance funding for various reasons and numerous benefits it has compared to traditional bank loans. Unlike a second mortgage or traditional bank loans, a lawsuit advance funding or loans have the following benefits.
Qualifying for a loan in a traditional financial institution like a bank is dependent on having a good credit meaning it rules out those with bad credit, however, the determining factor in lawsuit advance loans is your pending personal injury case; you will be eligible for a cash loan even if you have a bad credit. Having a good credit does not mean you will immediately qualify for a loan from a bank; sometimes you might have to wait for days or even weeks to know your fate, however, with lawsuit advance loans that duration is as short as two days.
With lawsuit advance funding you will get a reprieve from the bills and expenses that are quickly adding up as your injury case continues to drag in court and become a financially straining. Once you qualify for lawsuit advance funding, you will enjoy flexible payment terms; you will only be required to repay the loan once your case is settled, regardless of how long it takes.
Lawsuit advance lenders understand the people who have personal injury lawsuits pending have a variety of bills and expenses to take care of hence the lack of restrictions on how you spend the money. Keeping your credit score intact is very important and it another advantage of lawsuit advance; no matter what happens with your case there will be zero effect on your credit score. You can get lawsuit advance to help you qualify for medical treatment if you don’t have insurance or sufficient medical coverage.
Perhaps the best part about lawsuit advance is their risk-free nature; since court cases can go either way, in case you lose the case you will not pay the cash advance in full. Although there are several legal funding companies, it is the interest rates that set them apart; the interest rates of lawsuit advance loans are as competitive as you will find anywhere else. These are the important reasons to apply for lawsuit loans if you have a pending personal injury case.