Personal injury lawsuits play an important role in helping you obtain the funding you need to cover medical expenses, pay your bills while you are unable to work, and compensate you for your emotional suffering after a serious injury.
While the money you can obtain through a personal injury settlement is important, it can take time to access these funds. Many plaintiffs turn to lawsuit funding companies for help while awaiting a decision in the personal injury case.
Personal Injury Lawsuit Timeline
To truly understand the important role that a lawsuit funding company can play in your life, you need to have a firm grasp on the timeline associated with most personal injury lawsuits.
A lot of cases can be settled without the intervention of a judge. The insurance company and your attorney can negotiate a settlement that is fair to both parties. Unfortunately, this settlement negotiation process can take quite a bit of time.
If you are unable to reach an agreeable compromise, your case will go to trial. This can further extend the amount of time required to reach a resolution in your case.
Access to Cash Through Lawsuit Funding
Bill collectors don't care how long it takes to resolve your personal injury case. Your expenses can start to pile up quickly, and you may not have the funds available to pay off expensive medical bills or make your mortgage payments while you are unable to work. You will also have to worry about covering the expenses associated with your lawsuit.
A lawsuit funding company can step in and offer you a cash advance on your anticipated settlement. This cash advance gives you immediate access to the funds you need to cover your expenses while you await the resolution of your personal injury case.
Flexible Repayment Options
Some injured individuals worry about using a lawsuit funding company because they are unfamiliar with the repayment structure of the cash advances offered by these companies.
Once you receive your cash advance, you will not be required to make payments on the funds you are given until your lawsuit has been resolved. This allows you to pay your bills without worrying about accruing more debt.
In the event that you don't receive a settlement for your injuries, you will not be required to repay the money issued by a lawsuit funding company. You can focus on your recovery and winning your lawsuit without the stress of financial worries clouding your judgment.
To learn more about lawsuit funding, contact a company in your area like Lance Capital Group, LLC.
Share12 December 2019
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