Choosing a Pre-Settlement Funding Company
Finding a pre-settlement funding provider is one of the more critical decisions a plaintiff makes in a civil lawsuit. Negotiations and court proceedings can take months, if not years, to reach a judgment or a settlement. Many people don’t have the funds to cover the buildup of expenses that can accrue after an accident.
That’s where pre-settlement financing comes into play. Pre-settlement funding provides an advance on your projected settlement, helping you cover your bills as you wait for your case to settle.
It’s important to note that the pre-settlement funding company you choose will become your long-term partner. So, do your due diligence: Make sure they’re up to the task. You want an industry-recognized lawsuit funding provider in your corner.
Why Your Pre-Settlement Funding Provider Matters
Not all pre-settlement funding companies are equal. Be wary of smaller, newer, or less established companies with more to lose by offering you pre-settlement funding. They may seek to influence — or even direct — how your attorney does their job while representing you.
Other companies may use incentives to encourage attorneys to refer their clients to them. These relationships could compromise your attorney’s objectivity while representing you in a lawsuit.
Similarly, a company with any sort of financial ties to the defendant in your lawsuit will be unsuitable as a funding provider. These conflicting interests can be particularly problematic if one of their clients has responded to your lawsuit with a counterclaim.
What to Look for in a Pre-Settlement Funding Company
Before you choose a pre-settlement funding company, do your due diligence with thorough research. Avoid providers with aggressive sales tactics or overly complex, confusing contracts.
Consider asking your lawyer for recommendations or ask others who have required pre-settlement funding in the past to see which companies they’ve worked with and what their experiences were.
Generally, there are three traits to look for in a reputable pre-settlement funding company.
- It has experience and presence: Established companies have the financial means to ride through the lengthy litigation process without pressuring you into prematurely accepting a settlement. Companies with an extensive presence across the nation also tend to have the financial bandwidth to wait out final negotiations and settlements.
- It doesn’t overcharge: Some pre-settlement funding companies will charge inordinate amounts to use their services. In some cases, a company may ask for upward of 50% of a plaintiff’s final settlement award. Reputable companies charge reasonable interest rates and disclose those interest rates and repayment plans up front.
- It discloses all terms and fees: The final contract between you and your pre-settlement funding company should be transparent. While legally binding contracts can be difficult for someone to read if they lack legal training, the contract should be easy to understand when discussing it with your attorney.
Finding the Right Pre-Settlement Funding Company for You
Pre-settlement funding makes it possible for people of all means to utilize the court system to receive compensation they legally have a claim to. Choosing the wrong funding provider, though, can put your lawsuit — and your ability to make ends meet — on shaky footing before your opposing party even approaches the negotiating table.
Apply for your pre-settlement financing with a provider that sets the standard for this relatively new industry: USClaims. As a top-rated legal funding company, we assist plaintiffs in accessing the funds they deserve sooner. How much funding you can get varies based on your specific case. With us, you may qualify for up to 10% of your projected settlement or judgment up front.
Our clients rave about our services, praising our communication, professionalism, and hassle-free approach. Some even go as far as stating that we’ve been a lifesaver during their litigation process.
Can your lawsuit funding provider get you the money you need to pay your living expenses when you need it? USClaims can. Our bedrock-solid financials have earned us a reputation that has led to numerous awards, including “Best Law Firm Funding Provider” and “Best Customer Litigation Funding Provider” in 2021.
Learn more about how pre-settlement funding through USClaims works with our settlement funding FAQ. We work with certain cases that qualify for funding. If a case qualifies, we purchase a portion of the proceeds based on the anticipated court judgment or settlement. You get usable cash now, and we only get repaid if you win your case or receive a settlement!
Learn more, apply now, or call us today at 1-877-USCLAIMS.
The availability of pre-settlement funding varies by state. Contact USClaims for more information.
