A personal injury case can drag on for months, adding stress to your already chaotic life. You may be forced to drain your resources to cover medical bills and afford necessities such as food, rent, and utilities. It can be especially challenging to survive if you have lost your job and have no source of income due to injury-related health problems.
Meanwhile, life goes on. Your creditors are not likely to put themselves in your shoes and make concessions to relieve your financial burden. The lengthy litigation period can become an ongoing financial headache as you juggle your bills to make ends meet.
The defendant’s insurance company will approach you with lowball offers that cover only a fraction of your losses. Holding out for the settlement you deserve takes fortitude, especially when the insurance company is offering you cash now, and there is no guarantee that you will receive compensation for your pain and suffering down the road.
Even if you have already achieved a satisfactory verdict, it may be too early to celebrate. Many plaintiffs are unable to get their settlements right away due to bureaucratic red tape. It takes time to sign all the necessary documents and receive payment from the defendant’s insurers.
Some personal injury victims accept their awards in monthly or yearly installments. While this option provides a measure of financial stability over the long run, it may not work for you if you have large and pressing financial needs. For example, if you need to undergo costly surgery, repair your vehicle after your accident, help a loved one, or save yourself from bankruptcy or foreclosure, you may want to get the entire sum in a single check.
Insurance companies do not make compromises. Once the judge decides on certain payment terms, insurers stick to these rules firmly and cannot make changes. Therefore, you nominally owe a settlement but are not able to use it to cover your running expenses.
How to Get Money Before Your Settlement
No one should be able to dictate the way you spend your time and money. To gain total control over your settlement, you can accept a lawsuit loan, also referred to as a cash advance.
This service has become increasingly popular in recent years due to a dramatic increase in personal injury litigation that has overwhelmed the courts, slowing down the system. Today, a growing number of legal funding companies offer quick cash against a settlement in NYC and other large US cities.
In most cases, legal lending firms have minimal eligibility requirements and a simple application process. It takes mere hours to analyze your application, contact your attorney and request case-related documentation. The sum you requested is then compared to your expected settlement amount, minus fees, to determine whether you will be able to repay the loan.
A legal funding company will not check your workplace, income level, or credit history. It is enough for them to know that you are an innocent victim who is suffering due to someone else’s negligence. If you have a strong case, you have a good chance of receiving a cash advance within one or two days of your application approval.
Many plaintiffs prefer pre-settlement loans over traditional bank loans, since the service is completely risk-free. You take an advance against your future settlement and do not spend a dollar until the defendant’s insurance company pays you. There are no monthly payments, and if your attorney loses the case, you owe nothing to your lenders.
While the no-repayment clause is beneficial for plaintiffs, it puts the pre-settlement funding company at risk. For that reason, lawsuit funding companies must exercise good judgment when considering incoming applications. Cases handled by the plaintiffs themselves without the support of an experienced attorney will be categorically brushed aside. It is important for a legal funding company to know that their investment is likely to pay off.
If your seasoned attorney has compelling evidence to present in court and you have requested a reasonable sum that does not exceed your expected settlement, there should be no reason why your application will be turned down.
Cronus Capital Group in New York City – Your Guaranty of Quick Cash for Settlement
Here at Cronus, we are committed to alleviating your post-injury financial challenges. You can reach us at any time and get the support of our responsive and caring staff. We work with personal injury victims all the time, and we understand your pain and worries. We are committed to taking the financial pressure off your shoulders, so you can get your life back on track.
Borrowing money against your settlement is easier than ever. You simply connect us with your attorney and relax, knowing we will discuss all your case-related issues with them. All you need to do is wait a day or two for your loan to process.
Let us help you relieve financial stress so you can rebuild your life. Call Cronus at 1-516-268-7299, or fill out the short application form on our website.