Different Options & Different Rates
If you are going through the lawsuit funding process for the first time you may have questions regarding different options and rates that can be offered to you. A lawsuit cash advance is similar to many other financial transactions. The client is searching for different options which could result in different rates. At LawLeaf we are experts at looking at the different cases and providing more options for our clients. This also can have a direct effect on the rates you can secure for a pre settlement advance or structured settlement purchase.
What are the different available options?
It is important to understand the case. Is the client searching for pre settlement, post settlement or structured settlement funding? Pre settlement funding is before a claim has settled, post settlement funding soon after a case has reached a settlement and a structured settlement is when the claimant is receiving annuity payments over a specific time period. The different type of options will depend upon the funding type.
For instance when a client is requesting pre settlement funding they will be best suited working with an underwriter that has experience in looking at their type of lawsuit. Some underwriters are more versed in different areas of law and can make the difference of getting funding or getting denied. The underwriting company that provides the financing to plaintiffs may have experience in handling personal injury claims while others prefer commercial litigation disputes. By applying with a company that is unfamiliar with your type of lawsuit could make the difference between getting funded or getting denied.
In terms of structured settlement financing. Pre settlement and post settlement funding are oftentimes offered as a non recourse loan. Structured settlement purchased are offered through a full purchase or a partial purchase of the annuity. There are companies that offer structured settlement purchases but not pre settlement funding and vice versa. The problem that most clients run into is finding which company offers the better rates, larger payouts in the shortest amount of time.
When discussing rates for funding:
- What type of case are you submitting?
- What is the likelihood of winning your claim?
- Does the defense have the financial backing to pay the claimant?
- Is the applicant applying for pre settlement or post settlement funding? There is more risk involved with pre settlement funding.
- How quickly will the case settle?
- Personal injury or commercial litigation? Comfort at looking at a specific claim.
- Pre settlement & post settlement vs. structured settlement
Understanding which financial institutions offer better rates for specific cases can mean the difference of more money in your pocket. If you are searching for structured settlement cash it can be the difference of thousands of dollars for your annuity payments. It is imperative prior to applying with for funding with any company they have a track record of getting their clients into competitive rates.
If you are searching for a partner through the funding process that has processed thousand of applications for its clients, begin by applying online with LawLeaf today. We are just not another lawsuit funding company, we are a partner in the funding process.
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I just applied with your company because a friend of mine was approved not long ago. I applied tonight and hoping to hear back from your firm first thing tomorrow. While I’m looking around I had a few questions. I was in a car crash last year (well almost last year). I spoke to my lawyer and he told me that I would need to considering doing a lot of things before I would need to settlement my case with the insurance company of the other driver. I’ve completed everything and now he told me that my case is going to take longer because of a few different things which I have no idea what he is talking about. My case is probably worth around 200K+ and I need around 25K if possible. I don’t know how to evaluate if you give this much but there is no doubt that I’m going to win my case. If I get the 25K how much money will i have to pay back if I win my case.
Thank you for applying with LawLeaf. We will be in contact with you immediately. In regards to your questions. We can generally get advances from 5%-25% of the total value of your case. If you case is worth 200K there is a good chance we could get the full 25K for you (depending upon the strength of the case). If you were approved for 25K the payback amount would vary depending upon the rate and how quickly the case settled. If its a strong case the rate will be better. If the case settles fairly quickly the payback would be less than if it extended out for a year etc. It is really hard to ballpark an exact amount. Please contact us for additional information.