Do I Have to Pay Interest on My Pre-Settlement Loan?
Your injury settlement may take time to be settled, which leaves you dealing with the aftermath and expenses of your accident while you wait. A pre-settlement loan can give you more time to focus on your injuries and your lawsuit.
But over time, you’ll accrue interest on most loans, and you may be worried that loans from Money First Lending will do the same. So what can you do? Will you have to pay interest on your pre-settlement loan? And where can you find the lowest cost pre-settlement funding in Las Vegas? Learn more about insurance rates in Nevada below.
Interest Rate Caps for Las Vegas Settlement Funding
Because a Las Vegas injury case can take months or years to settle, you may already be worried about racking up high expenses for your settlement funding. Interest grows over time, so a high interest rate could hugely increase the amount you owe in a short time.
Here’s the good news—Nevada limits interest rates for pre-settlement funding. If you’ve gotten a pre-settlement loan in Las Vegas, your interest rate will be below 40 percent by law.
Annual Fees and Your Claim
But we’re not like other lenders. We offer low cost pre-settlement funding in Las Vegas because we don’t charge interest. You’ll instead pay a set annual fee that you and your lawyer can discuss with us.
For example, let’s say your slip-and-fall accident lawsuit takes two years to settle. You’ll only pay that set fee twice, instead of paying for growing interest rates.
Contact a Lender About Your Interest Rates
After a serious injury, you don’t want to get deeper in debt, as you already may be dealing with debt collectors and angry lenders. You may need help from Money First Lending, but you may be worried about interest and getting the lowest cost pre-settlement funding in Las Vegas. We can help you track your costs for a pre-settlement loan when you call 702-623-3333 or complete the online contact form below.