Personal Injury Funding

If you are a plaintiff and are unable to work due to a personal injury, you are probably in need of fast cash. Personal injury funding can be obtained before the conclusion of litigation. This is known as a “no recourse loan,” “cash advance,” “venture capital,” or “investment.” This is a relatively new source of financing that is similar to a loan. But unlike a loan, employment and good credit are not required and you owe nothing if you do not win your case. If you do win the case, you will be required to pay your settlement toward the funding you received before the settlement.

Qualifying for Certain Amounts

Personal injury funding is available for personal finances, medical bills or for litigation. The amount of injury funding a client receives depends on the loan company and the lawsuit. Typically, pre-settlement funding is between $500 and $25,000. In some cases, this funding can be up to $100,000.

Deciding on Personal Injury Funding

If you decide that a cash advance is your best option, shop around for the best company with the lowest amount of fees. Depending on the company, you will either have to pay the money back at the end of the litigation, or you will have a monthly fee that can be as high as 15 percent per month. If you expect the litigation to be short, a monthly fee may be the cheaper route. But before you make any decision regarding your personal injury funding, discuss all your options with your attorney.