The Process of to Getting a Pre-Settlement Funding
Pre-settlement funding is money you receive because you expect to get compensation from your case. You have to work with a Legal Bay Lawsuit Funding company after you file a lawsuit. The company gives an amount of money that is equivalent to the value of your claims. The best aspect of pre-settlement advance is that you don’t have to repay it in case you don’t win the case. If you want to get pre-settlement funding, you should follow the process below.
First, make sure you hire a qualified lawyer. Your attorney can help file a lawsuit, which is a requirement for you to get a pre-settlement advance. A lot of lawyers that help clients get pre-settlement funding always work on a contingency basis. This means you don’t have to pay them any money for consultation or their services. You only pay them when you get the settlement from the lawsuit. This means you can still hire an attorney even when you don’t have money. In case you don’t get the settlement, you don’t have to pay the attorney.
The next step to getting pre-settlement funding is finding a competent funding company. There are multiple funding companies offering their services. You have to make sure you find a reliable company that can be trusted. The company you hire can pay for all your living expenses as your case goes on. When you hire a pre-settlement funding company, you work with a representative. He evaluates your legal claims to know the amount of money you may receive as a settlement. He can then use this information to determine how much pre-settlement advance to give you. They also use this information to determine the interest rates they will charge you if you win the case. You can get more info here.
You also need to make sure that you go through the funding agreement with your lawyer. You must read through the terms of the pre-settlement advance before you sign anything. Your attorney can guide you through the process of reviewing these terms. This ensures that you know exactly what is happening during the entire process. The next step should be to decide the pre-settlement that is suitable for your situation. In this scenario, you have to consider certain factors. Your attorney can answer any questions you have so that you can make an informed decision. The funding company you decide to work with should be transparent about all their processes.
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