Lawsuit Cash Advance

A lawsuit cash advance can be helpful and even life-saving in certain situations. If you have been seriously injured and need help covering medical bills or living expenses as you wait for a settlement, a cash advance will provide you with the funds to meet your immediate needs. Until you win the case and receive your settlement, you don’t have to worry about paying the lender a dime.

The lender should evaluate your information and provide you with an offer in writing, stating the amount of money they are willing to advance you, as well as the cost once the case closes successfully and the time frame within which you must repay the loan once you have received your settlement.

If you don’t win the case and therefore receive no money, then you will not be charged a fee.

Before approaching a lender, be sure they cover your type of lawsuit. For example it is no use approaching someone about a cash advance for an auto accident, if they cater only to workers wounded on the job. Many lenders offering lawsuit cash advances will allow you to apply online, making the process more convenient. You will need to meet your lender’s criteria before he or she will accept you as a client. Before the lender begins to review your case, he or she will request copies of a variety of documents from your attorney in order to gain a better understanding of the case. Often, once your lawyer sends all the information and necessary paperwork to support your claim, the lender will review your case quickly and could even have an answer for you in 24 hours.

Once you win the case, you will then need to pay a monthly rate until you repay the loan. This fee may vary due to the company you use or in what type of case you are involved. This monthly fee will most likely be based on a percentage of the money loaned to you. Lenders usually charge between 3 percent and 5.50 percent a month, but this will vary between lenders and how much money you borrowed.

The first step is to send an application to find out if you are eligible for this assistance.