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Pre Settlement Funding

Pre Settlement Funding

What is pre-settlement funding?

Pre-settlement funding, also known as litigation financing, or lawsuit funding is non-recourse plaintiff funding. Non-recourse simply means that it DOES NOT need to be paid back to us if the case is not settled or if there isn’t another financial recovery. It is a valuable financial tool that is available to individuals pursuing legal action. Number One Funding NY gives you the funds you need to cover your ongoing expenses without putting your own finances at risk while you wait for your lawsuit to resolve. This funding NEVER requires any out-of-pocket repayment as it is directly paid from the proceeds of a settlement or judgment. Plaintiffs are free to use the money as they see fit. Some plaintiffs use the cash advance to cover their rent, debt, or food costs. Others will need to use the money to cover their medical bills such as for a surgery they sustained due to an accident.

In the past, victims of personal injury had no source of assistance for quick financial support. Financial institutions will not approve the loan when a loan candidate merely has a possible litigation case as collateral. Pre-settlement funding gives plaintiffs stronger options today and alleviates the financial stress the injured face.

Most people simply cannot afford the financial stress of a lengthy legal battle because settlements can take months and sometimes even years to finalize. Expenses for everyday living, lost income, and medical care can place a significant financial burden on someone. While waiting for the outcome of their cases, plaintiffs in lawsuits regularly find themselves unable to work and occasionally must pay exorbitant medical bills. Instead of accepting a low settlement due to financial constraints, pre-settlement funding enables our clients to secure the funds they need in as little as 24 hours.

How does pre-settlement funding work?

If another party’s conduct or negligence caused your injury, you might be entitled to compensation. You can obtain compensation from the at-fault party for the losses you sustained through a personal injury lawsuit. However, personal injury lawsuits are infamous for taking a long time to resolve. Because of this, some plaintiffs, including those with compelling cases, reach early settlements for less money than they are entitled to. Pre-settlement funding assists plaintiffs in covering their expenses while they wait for their case to settle or to receive any financial recovery.

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