One of the most stressful and difficult events in your life is going through a lawsuit. It requires time, energy, and financial resources to settle a case.
How do settlement or pre-settlement funds factor into your lawsuit? Keep reading if you are in the middle of a lawsuit and need financial resources.
Pre-Settlement or Settlement Funds
In civil cases where you have an overwhelmingly strong chance to win the case at a jury trial, the opposite party may approach you with a settlement. This usually includes a sum of money and possibly other stipulations.
Another scenario might involve an insurance company offering a modest settlement that won’t be any larger if taken to trial.
Whatever the situation, you’re going to receive compensation. This financial reward is called a settlement. However, an insurance company or party may take weeks or months to pay.
This timeline doesn’t include if they have appealed the settlement already or plan to appeal. Pre-settlement or settlement funds can keep you afloat financially while you wait to be paid.
Did you hire an attorney? Do you know their pay structure? Some attorneys require monthly payments while others will ask for a percentage of your settlement.
If you have a lawyer who requires installments, the bills could be adding up. This doesn’t include if they have hired their own team of investigators or expert witnesses.
Pre-settlement funds help you pay as you go. One of the worst things that could happen is your lawyer stepping down due to a lack of payment.
Is your settlement a result of an accident or injury? If so, you probably have medical bills stacking on your desk.
Make sure you keep every bill or invoice related to medical treatment. You might need these documents in the future for your settlement.
Additionally, getting pre-settlement funds to help pay for your treatment prevents you from accepting a lower settlement out of financial desperation.
For situations where you can’t work, money becomes tight, especially during a pandemic. Pre-settlement funds carry you to the finish line. Use that money to buy groceries, pay utility bills, and rent.
What Are Your Costs?
No company is going to give you money out of the kindness of their heart. Lending companies will evaluate your case and attach fees to the funding.
But don’t worry about paying anything while you wait for your settlement to arrive.
The fee varies, and you’ll need to do some shopping around to get the best rates and customer service. Try using https://floridasettlementfunding.com/ to get a professional company that understands the difficult times you’re experiencing.
Remember, the funding institution understands you may not get a large settlement.
If you don’t receive a settlement, then you don’t owe the pre-settlement funding company money. If you don’t receive a settlement big enough to cover the funding you received, you won’t owe the difference.
Being Financially Safe
Don’t feel bad taking pre-settlement or settlement funds while you wait for your award to come through. You deserve to be financially safe paying bills.
Take one more burden off your plate.
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