5 Questions You Must Ask if Contemplating Settlement Loans and Lawsuit Loans
Ever think about what you could potentially gain if you were to get more information about settlement loans and lawsuit loans. You it’s really being encouraged to do so before settling your claim for much less the true value of the claim. Obtaining such information may improve your entire life! Many people have actually done that. Unfortunately, very few individuals actually take this step toward making their dream a reality. Many lack the desire to sufficiently research the issue, assuming that it’s too complex.
Therefore, it is nothing more than a dream to them.
Hmm. Thought she should take a moment to determine whether the foregoing are valid reasons to not consider obtaining the settlement funding that could be extremely beneficial to you? Did those who failed to act actually look at the positive benefits derived from obtaining pre-settlement loans? Did they seriously consider the advantages of obtaining a lawsuit loan? Perhaps it’s time to take a few moments to actually look at the questions one should ask prior to obtaining lawsuit funding. There are 5 questions you should ask when considering settlement loans and lawsuit loans.
First, what are lawsuit loans and settlements? Yes, I realize that the insurance carrier may make overtures to quickly settle your claim for what appears to be a fair and equitable amount. However, the reality is that they won’t. I agree that initial offers are often be very tempting. However, please consider that in the vast majority of cases, the insurance carriers want to settle your claim as quickly and inexpensively as possible. In fact, they would prefer that you just go away. In numerous instances, plaintiffs find themselves being demonized for even having filed a claim. Furthermore, consider the fact that insurance carriers are going to hire an insurance defense firm to represent the insurance company. (Yes, I realize that the attempt is to suggests that the insurance carrier is representing the defendant.
However, the truth is that the insurance carrier is clearly looking out for its own interests.) Insurance carriers spend millions of dollars every year on insurance defense attorneys. They aren’t there to help dole out funds to individuals who file claims against insurance carriers.
Second, although the facts may be clear in the plaintiff’s mind, it is very likely that the defendant will have an entirely different perception of how the accident occurred. Strangely, many individuals assume that such a situation will not occur. However, this is a very common occurrence. The chief reason for that is that the defendant is looking out for his/her interest. However, oftentimes we see life through our own prisms. Differences of opinion may certainly honestly arise. Remember, expenses incurred do not stop simply because you sustained injuries as a result of someone else’s negligence. It is very important for you to keep in mind that these individuals who are fighting against you, insisting that your claim should not be paid, haven’t the least interest in whether you’re able to continue to maintain your mortgage payments, pay utility bills, put food on your table, etc.
Third, how high are the interest rates on lawsuit loans and settlement loans? How do individuals no know whether the interest rates are fair? Although it may be confusing at this stage, pre-settlement funding is not a loan. If it were a loan, it would be necessary for you to repay the funds advanced irrespective of the outcome of your case. However, the settlement funding you will obtain is referred to as non-recourse funding. This simply means that if you lose the underlying claim, you have nothing to repay. No interest fees are charged in such cases. The fees charged are referred to as “risk fees.” The fees obtained are contingent on the inherent risk involved with handling your particular claim. The higher the risk involved with your claim, the higher the fee assessed.
Fourth, What if I lose my case? As previously stated, if you do lose your case, you’ll pay absolutely nothing. This is the beauty of obtaining non-recourse funding. In essence, there is no risk involved for plaintiffs who obtain lawsuit loans.
And fifth, what if the settlement obtained is less than the funding advanced? This scenario is unlikely. Companies that advance lawsuit loans and settlement loans will only provide funding up to 10% of the perceived value of the underlying claim. Therefore, those who obtain pre-settlement loans would rarely, if ever, obtain funding that is less than the settlement obtained in the case.
Once you’ve had time to go over the reasons, and think about them, you’ll see that a very good case can be made in favor of when why you should actually consider obtaining settlement loans and lawsuit loans. Now what do you think? Isn’t it worth giving this some serious consideration? What if individuals could really obtain settlement loans and lawsuit loans and avoid having to accept the ridiculously low offers the insurance carriers makes? As soon as you look at the different issues and evaluate them, you will have to admit that a very compelling case can be made for giving serious consideration to obtain settlement loans and lawsuit loans. Just consider it. Maybe, just maybe, individuals really should consider obtaining settlement loans and lawsuit loans prior to settling their claims.