Benefits of Settlement Loans
The concept of settlement loans is quite easy to understand. The whole idea is to support a plaintiff, who is very often a victim of circumstances, while they pursue their settlement lawsuit. They may have faced personal injury, wrongful termination of contract, medical negligence or someone who is just waiting for the settlement of an estate. Sometimes a victim does not know where to begin fighting for their rights. Well if you have been a victim and are pursuing a court settlement, I suggest that you begin by visiting www.settlementlenders.com, where you will find a large number of settlement loan choices. You can also read some client stories and peruse their blog for the information you need to win your case.
A company with a difference
Settlement Lenders is one company which looks at its business from the side of the client. That is why it is always honest with its clients and tries to be one of their support systems during the period of crisis. Through its dedication, it has served over 10,000 clients over a period of 30 years and has approved over $1,000,000 in loans. It is the oldest settlement funding company in Canada and one of the most trusted names.
The company has a policy of empowering its clients, of counseling them and advocating what is right, even if it seems counterintuitive to its business. For example, it always advises its clients not to borrow more than they need. It follows all rules and regulations related to settlement funding and ensures complete transparency through the process. It also maintains due diligence in evaluating every case based on its merit and merit alone.
Advantages of lawsuit loans
1. Helps you to meet your daily expenses:
Very often personal injury or some untoward incident may affect your ability to work or find a suitable job leading to loss of income not only during the period immediately following the incident but also permanently. Often, lawsuits take a long time to settle, even going on for a number of years. If you face difficulty in making ends meet during the above mentioned period, a settlement advance can help you to meet your expenses.
2. Funding is done on a non-recourse basis:
Funding done on non-recourse basis means that the lender understands the risk involved in lending you money. They are aware of the fact that you may not win the lawsuit that you have filed. However, if you do get what was expected, the letter of Assignment delivered to your lawyer gives it the right to claim the exact amount that is due and it would be deducted before the funds are released to you.
3. Your credit history, employment record or ability to earn is not checked:
A major benefit is that unlike other loans or debts, your credit history or your past employment track record is not required to approve your lawsuit loan. Also, your past, current and future ability to earn will not be a factor in their decision.
4. Allows you the financial ability not to yield to a low settlement amount:
Since a lot of victims are cash strapped in the immediate aftermath of an occurrence, they often accept early offers made by the insurance companies. Out of court settlements usually fetch much lower than what you could have potentially received as compensation. But, settlement loan gives you and your lawyer the time to fight your case even if it takes a while to settle.
The post Benefits of Settlement Loans appeared first on Home Business Magazine.