People are faced with having to take cases to court every day. Reasons include, but are not limited to: fatal accidents, workers’ compensation claims and personal injury. When considering the time that a case could take; that being months, or even years – taking out a lawsuit loan can be a financially stabilizing answer for a family or individual.
There are other loan alternatives when considering the funds needed to take care of: ongoing medical bills, attorney fees, and court costs; lawsuit loans can be a win-win solution. In considering whether one should take out a lawsuit loan, there are many angles to take into consideration. First, one should understand the additional types of loans that are available to assist you.
Lawsuit Loans versus bank loans: The largest difference between a lawsuit loan and a bank loan is time. Lawsuit loans can be approved in as little as twenty-four to forty-eight hours. A bank loan, on the other hand, may take weeks to be approved.
It is very rare that a bank would approve a loan on the basis of a future lawsuit settlement. Although, if your relationship is good with a bank, and your credit rating is very high, they may consider the approval. This may take up to a month or two, involving much paperwork, and the signed authority of many executive staff members within the bank. A lawsuit loan team can tell an individual or family within a few short days whether or not their loan will be approved against a future lawsuit settlement.
Lawsuit Loans versus loans from family or friends: When considering a loan from a family member or friend to supplement financial needs, the biggest idea to think through is that of, what if I lose my case? Will you be able to pay the loan back to them? How long will it take you to pay back the loan? The loan itself could ruin a relationship between you and a friend, or you and family member. No amount of money is worth losing family or friends over.
Lawsuit loans are an easy solution to getting the money you need to proceed with filing your lawsuit. No matter what the case, it never hurts to contact a legal team regarding a lawsuit loan. With nothing to lose, and the benefit of moving forward with your case in a financially secure environment, legal funding has the possibility of helping any family.
With possible approval within twenty-four to forty-eight hours, legal funding is a quick option to getting the cash you need. Why should anybody or their family suffer when moving forward with a legal suit, when there is a win-win solution to getting financial backing through a lawsuit loan?
Steven Medvin is the Executive Director of SMP Advance Funding, LLC, which provides lawsuit funding to individuals who need a lawsuit loan for pending lawsuits. For more information please visit: http://www.smpadvance.com.