5 Questions You Must Ask If Contemplating Settlement Loans And Lawsuit Loans

If you ever wondered why you need to get more information about settlement loans

and lawsuit loans before settling your claim for much less than the true value of your claim? A few individuals have given some consideration to this issue and actually acted upon it. Unfortunately, the vast majority are still dreaming and have never even gotten out of the gate. Many get lost in the negatives, the fear of the unknown, and fail to get around to actually taking some positive steps toward achieving their goal.

Let's see now, are all those reasons valid? Did they really examine the positive side? Did they evaluate the "pro" side or just the "con" side? Maybe we ought to look into that. Let's examine 5 questions you should ask prior to attempting to obtain settlement loans and lawsuit loans and see get to the truth of the matter.

First, what are lawsuit loans and settlement loans? Sure, I certainly understand your confusion and realize that the insurance carrier will quickly make it appear as though it wants to settle your claim for a fair and equitable amount. However, the reality is that in most instances they won't. I agree that the authors often appear very tempting. However, please consider that in the vast majority of instances are going to push very hard to convince you that you should just go away. In numerous instances, plaintiffs find themselves being demonized for even having filed a claim. Furthermore, consider that insurance carriers hire an insurance defense firm to represent the insurance company in almost every instance. (Yes, I realize that the attempt is to portray 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. In fact, many insurance carriers have full-time "in-house" attorneys.

Second, it is also very important to realize that, 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 leading reason for that could be 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. He said fact to keep in mind is that 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, are not the least bit concerned about 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? The beauty of obtaining litigation funding is that if you do lose your case, yet nothing to repay. That is why obtaining non-recourse funding can be extremely beneficial to litigants.

And fifth, what if the settlement I obtain is less than the amount advanced? It is extremely unlikely that this would ever happen. The funding-entities that evaluate and actually offer settlement funding will only fund cases up to 10% of the perceived value of the underlying claim. Therefore, it would be extremely rare for an individual to obtain a lawsuit loan in excess of the settlement actually obtained.

Once you've asked the foregoing questions and evaluated responses thereto, I expect that you will have to admit that a convincing case can be made for thinking about the benefit of obtaining settlement loans and lawsuit loans.

After looking at all that info, what do you think now? Aren't those benefits tempting? Perhaps you actually should consider obtaining either a settlement loan or lawsuit loan.

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.

by: Dr. Tom Rhudy

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