Non-recourse lawsuit funding, also called pre-settlement funding, provides money for accident victims who have filed a claim and are waiting to be awarded a settlement. Depending on the complexity of your case, settling an injury claim can sometimes take months or even years. Meanwhile, as the injured party, you have to deal with medical expenses and lost wages through no fault of your own.
Pre-settlement funding puts cash in your pocket now so you can meet your expenses and provide for your family while you wait for your claim to be settled.
Pre-Settlement Funding FAQs
If you have a pending personal injury claim and need cash while you recover, the following FAQs can help you decide if pre-settlement funding is right for you.
- What are the advantages of pre-settlement funding? An accident or injury can turn your life upside down, restricting your mobility, piling up medical expenses and causing you to fall behind on monthly bills. Pre-settlement funding helps ease your burden while you heal and get back on your feet. The money can even be used to help you get a fresh start with school or a new business.
- Will I have to make monthly payments? Non-recourse funding means your cash advance is not a loan, per se. You only pay us back if you win your case, and only after your settlement has been awarded and released.
- Do I need an attorney to qualify? An attorney can help you win the largest settlement amount you are entitled to, manage the details of your case, and ensure that your settlement award is distributed appropriately. Your lawyer will ensure that your cash advance is repaid.
- Will bad credit prevent me from qualifying? Credit and employment history do not factor into your application approval. The decision to advance funding is based on the details of your claim and the likelihood of you winning your case.
- What about fees? Rates and fees of lawsuit funding vary. The funding company is taking a big risk by advancing cash with no guarantee of being repaid. Before signing an agreement, be sure you clearly understand the total cost of your pre-settlement cash advance.
- Will I have to give up my rights to a larger settlement? Accepting pre-settlement funding does not mean you are selling your case. Funding is usually limited to 10-15% of the estimated total value of your claim. However, you may end up with a higher (or lower) settlement than was initially estimated.
- How do I know if I have found a reputable company? Transparency is key to identifying a reputable funding company. You should never feel pressured, or get the sense that you are being misled. Consult with your attorney before signing any paperwork.
- How much money should I ask for? It is generally recommended that you only take the amount of money that you absolutely need to get by. At the end of the day, a lawsuit cash advance is expensive, and it can take a significant cut of your ultimate settlement.
- How long will the application process take? Depending on the documentation you provide, the time from application to cash-in-hand can be as little as 48 hours.
- Will I need to pay a fee upfront? There are no application fees. All fees and interest are deducted from your final settlement amount.
Pre-Settlement Funding with Cronus
If you are still unsure if pre-settlement funding is fight for you, contact the friendly staff at Cronus. We will be happy to answer all your questions. If you are ready to apply for funding, the application process is quick and easy, and you could have the cash you need in as little as a day or two.