Taking Loans for Personal Injury Lawsuits
According to experts of the field, ninety-five to ninety-six percent of cases dealing with personal injuries are settled before trial. Insurance firms are slow to release payments to claims involving personal injuries because only approximately 4 to 5 percent of claims involving personal injuries go to trial in court.
If you get an advance fee on a lawsuit involving personal injuries, you also get a chance to cope with an insurance firm’s lengthy period of waiting for a settlement in order to get a bigger award of settlement.
Whatever the form your injury takes, you might have to wait for a lengthy amount of time in order to be paid a settlement. You can be qualified for pre-settlement funding in order to get a loan for lawsuits dealing with personal injuries against your expected award for personal injury. This can be a very useful source of funds if you are not able to pay your bills or you are out of work because of your personal injury. Having pre-settlement funding for a personal injury allows you to pay your bills whilst you wait for the insurance firm to decide to settle out of court or while the case is on trial. If your world is crashing down around you because of an injury due to an accident, pre-settlement funding for a lawsuit can assist you in quickly recovering your life.
It should be noted that advances for settlement are not actually loans. An advance for settlement for cases involving personal injury is a financing accord that is non-recourse in nature. This means that you are not required to pay back the advance given if you do not win your lawsuit.
How to Get Pre-Settlement Funding
To know if you are qualified for pre-settlement funding for a personal injury case, you provide an underwriter with the contact details of your attorney as well as the complete information regarding your claim for personal injury. The underwriter examines the details of the claim and decides whether or not to approve funding. If the underwriter approves funding, you will immediately get a portion of your claim. This is the advance for settlement. If you win the case or if the insurance firm settles, your lawyer refunds the advance payment given to you using the funds from the court award or the settlement. If you lose the case, you will not be asking to repay the advance payment given to you.
The Baker Street Funding Advantage
Baker Street Funding provides pre-settlement funding for personal injuries and is proud of the personal and professional way they treat their clients. To them their clients are not just a case number but are viewed as human beings to be treated with personal care and respect. They are well aware that your claim for personal injury is of utmost importance to you and that you urgently require funds.
Baker Street Funding promises to provide pre-settlement funding faster than any other firm in the industry. You should talk to your lawyer about them. They are very eager to assist you in getting the funding you require as quickly as possible.