Log in

How Same Day Pre-Settlement Funding Companies Work

Posted

By Masoom Anwar

You may have seen tv or billboard advertisements when you’re driving on the Florida Turnpike about getting cash right away for a future structured settlement. It sounds like a good idea and in many cases, it can be a way to get out of debt or pay off some bills.

Pre-settlement funding is a bit different and the litigation field is filled with more reputable players than the JG Wentworth’s of the world. Litigation funders offer cash to you before your case is heard and settled in court. Apopka and central Florida courts have been backed up due to COVID-19 which means there may be delays with your case, so be warned.

Before you decide to take this step, you should be well informed about how the process works. You need to know how same day pre-settlement funding companies work, before you call one.

Many companies are very strict about the amounts they will lend. The amounts can range from $500 to $100,000. But this depends on the likelihood of a positive outcome in court and the potential amount of the settlement. Only a few companies like 500 Cash Out offer same day pre-settlement loans given that you’re case is either in the midst of litigation or is in the post-settlement. The company looks over your case very carefully before making a decision to lend the money. The decision is often based on the likelihood your case will be settled in court in your favor.

Many companies state that if you lose your case, you owe nothing. That is true but, many of these companies don't lend that much. Most only take cases they are certain will have positive outcomes in court. After all, settlement funding companies can't take unnecessary risks and won't lend to those whose case outcomes are questionable.

Some companies can give you an answer within several minutes. Same day settlement funding companies may not offer as much as other companies though. Others need at least 24 hours to review your case. It can be assumed that if you are likely to receive a substantial settlement, it will be the 24 hour wait to let the company review the case. You may be able to get more money by waiting a little while.

Same day funding companies take all kinds of cases. They can include wrongful death, sexual harassment, auto accident, workplace injury, roundup, talcum powder, wrongful termination, worker's compensation, or disability claims. There are a variety of cases where a person may expect a lump sum settlement and these are just a few examples.

There is no cost to consult a company to see if you can get an instant cash payment for your settlement. It can help in emergencies, such as with unexpected car repairs or medical bills. It can help you get caught up on bills you've fallen behind on. This is especially important if you've been injured and are unable to work and bring home steady income to support you or your family.

Same day pre-settlement funding is a great option for some people and companies like 500 Cash Out offer it after a zoom call. But, it is not for everyone. If you have a case your lawyer is nearly certain you will win, you may be able to get funds sooner than later. You should understand how the funding company works and make sure to provide all the information about your case the company asks for. This makes it easier for the company to make a sound decision about whether you are eligible for money right away or not.

Comments

No comments on this item Please log in to comment by clicking here