Benefits Of Settlement Cash Advance
Court cases cost a lot of money, and sometimes, people end up going broke because of a court case. The problem with many court cases is the fact that they take a long time to resolve in the courts. Sometimes, a case may linger for several weeks, accumulating to months. It could also take up to years to resolve.
If you are not financially buoyant, you may lose all your money before ever getting a settlement. If you are in a situation like this and you are thinking of getting a loan, there is a better option. Rather than take loans, you can apply for a pre- settlement cash advance from a law firm.
A Pre-settlement cash advance helps provide money for your living expenses, medical bills and other expenses while you wait for your settlement check. It has lots of benefits, the important ones are:
1) It is a non-recourse loan
This means that you do not have to pay back the money until you win the case. You may win the case, but if you do not get the payment check, you are not obliged to pay for the advance. The beauty of a settlement cash advance is the fact that it’s requirements are quite minimal. You must have a personal injury or loss that was caused by another person and you must have a lawyer representing you. If you can provide these two requirements, you are set for a settlement advance.
2) You must not have a perfect credit
If you are taking a normal loan, you are required to have a perfect credit. But this is not the case with a cash advance. When applying for a cash advance, the only thing that is considered is the amount of settlement you may get. The value of the settlement is roughly estimates, before you are given an advance.
3) It is secure
It is a very secure form of recourse loan, because you do not have to give any collateral. Furthermore, if you do not win the case, you will not have to pay back. You see, it is a win-win situation for you. You have absolutely nothing to lose. That is why it is the best way to get money when you are in court due to a personal injury or loss caused by another person.
These are the main benefits of a pre-settlement case advance. You maybe wondering if this is real, you may wonder why a law firm will take such a risk. Actually, it is not a risk. It is an investment, since the damage done to you can be proved, it is very obvious that you will get a settlement check.
However, you know that the check will take a while before it is issued, and you need to survive. So the firms provide you with the cash you need now in anticipation of the settlement you will receive. Do not be scared, but make the right choice by taking a settlement advance today.