What is Pre-Settlement Funding?
Even if you have a strong case, lawsuits are rarely fast processes. Sometimes, personal injury litigation can go on for months or even years. Meanwhile, you are stuck with medical bills and everyday living expenses because your injuries keep you from working and receiving a paycheck. Pre-settlement funding –also know is a lawsuit or litigation advance – is a way to get immediate cash for structured settlement payments pending the outcome of a legal action.
Lawsuit settlements are valuable assets, especially if you have a strong case and a good chance at winning a settlement. If you need cash now, you may be eligible to receive a cash advance of up to $30,000 against your future structured settlement payments, which can help you in meeting your immediate financial needs. If the case is settled in your favor, CBC as the funder will reclaim this money, along with a fee for our services.
CBC assumes a certain amount of risk in this type of transaction, similar to that faced by the law firm that takes a case on a contingency basis. A pre-lawsuit settlement transaction is classified as a “non-recourse arrangement.” This means that if you are unsuccessful in your lawsuit, you do not have to pay back the cash advance and CBC essentially loses the lawsuit cash advance it has paid out to you.
Depending on the nature of your lawsuit and individual circumstances, you may wish to look into other alternatives before deciding upon a pre-settlement funding arrangement against a future structured settlement payout. Your own attorney can offer you counsel in this area. If you and your lawyer decide that pre-settlement funding is the best solution for your particular financial situation, CBC’s staff will make the arrangements as quickly as possible (generally, in about 3-5 business days) – and if for some reason you do not win your case, you will not have to pay back the money.
CBC Settlement Funding provides Pre-settlement Funding
CBC Settlement Funding can provide you with a cash advance against your future settlement payments. Contact us today for more information on customized cash options to fit your financial needs.