How Many Pre-Settlement Loans Can I Get?
If you’re in the middle of a lawsuit for your injury in Las Vegas, you may be getting impatient while waiting for your case to settle. The end of your case brings justice, but it also awards you with compensation for the suffering you’ve experienced. In the time between your accident and your settlement, however, you’ll have to pay for any expenses that arise.
With a Las Vegas pre-settlement loan, you can get money from your legal claim in advance. But how many pre-settlement loans can you get? At Money First Lending, we can assess the details of your lawsuit and approve you for appropriate funding based on the risk involved in your case.
For more information on taking out multiple pre-settlement loans, keep reading.
Nevada’s Limits on Pre-Settlement Funding
Nevada law caps pre-settlement funding transactions at $500,000 per applicant, per claim. This means you can receive up to $500,000 in cash up front for your lawsuit even if you don’t receive all this money from one lender. For example, one lender may decide that you’re eligible for a $100,000 cash advance. You can then go to another lender and apply for another pre-settlement loan.
This pre-settlement loan cap applies to the total amount of money you can receive but not to the number of individual loans you can take.
Applying for Multiple Pre-Settlement Loans
Each pre-settlement lender will have a different application process. At Money First Lending, you can apply for a loan using our online form. If you’ve received other loans for your lawsuit, you can disclose this information on your application. We’ll use your history and case details to determine your eligibility.
Your lawyer should be involved in the pre-settlement loan application process. We must contact your lawyer before approving you for a loan, and they will be involved in the pre-settlement loan agreement.
Using Risk to Determine Approval
At Money First Lending, we determine both approval and the amount of money to lend you based on the risk involved in your lawsuit. If you were partially at fault for your accident, you’ll be a riskier applicant. If you have less proof to support your case, you’ll also be a riskier applicant.
The strongest applicants are ones who have a good chance of winning their cases. Strong applications also have defendants (usually insurance companies) in the lawsuit who can pay up quickly.
Talk to a Las Vegas Pre-Settlement Funding Company
As you wait for justice to be served in the court system, a Las Vegas pre-settlement loan can bring you some relief. How many pre-settlement loans you can get will depend on the unique details of your situation, which is why it’s so important that you contact us as soon as you can.
At Money First Lending, we offer non-recourse Las Vegas lawsuit loans. When you need cash now, we’re here to help. If you don’t end up getting a settlement in your case, you won’t owe us anything. If you’re ready to begin recovering and get back to normal life, you can apply for funding through our website. Call 702-623-3333 or fill out our online application form today.