North Las Vegas Pre Settlement Funding Companies
From getting your settlement money sooner to even increasing the potential value of your lawsuit, a non-recourse cash advance can help your recovery.
Not all North Las Vegas pre settlement funding companies are the same, however. Here’s some of the things you’ll want to be mindful of as you seek out a suitable lender.
How Do Lawsuit Cash Advances in North Las Vegas Work?
Pre settlement cash advances are a relatively new financial method that help accident victims with pending legal verdicts or financial settlements.
Getting a settlement can take a considerable amount of time, and litigants have to worry about things such as medical bills and lost income resulting from their injuries in the meantime. An advance on your settlement can help you cover your short-term expenses, while also potentially giving your attorney time to negotiate a maximum settlement with the at-fault party’s insurance company.
Pre settlement funding comes in different forms, however. Traditional loans could leave you with significant debt if you lose your case. Pre settlement cash advances, on the other hand, are a form of non-recourse funding wherein your only collateral comes from your future financial settlement.
Instead of looking at your credit history, lenders will work with your attorney to evaluate the strength of your case. The best part? If you lose, you owe nothing. Pre settlement lenders only get paid if you do.
Things to Look for in a Pre Settlement Funding Company
In Nevada, pre settlement lenders must be registered as an accredited consumer litigation lending company. Lenders are increasingly adhering to industry best practices, but some are more upfront than others about things such as fee structures and annual interest.
When considering which North Las Vegas pre settlement funding company to choose, keep in mind that Nevada caps lawsuit loan annual interest rates at 40 percent. Although some companies choose to include complex interest rates on their cash advances, plaintiffs can simplify by working with a company that uses an annual fee instead.
Pre settlement funding is a growing field, and litigants can choose to work with an out-of-state lender. There are benefits, however, to working with a local lender that has existing relationships with lawyers in the North Las Vegas area. However you decide to proceed, consulting with your attorney about your interest in pre-settlement funding can help you weigh the pros and cons of different lenders.
How Do I Know Whether I Qualify for a Pre Settlement Advance?
Although terms and conditions can vary between lenders, there are a few basic requirements you must meet if you are going to get a pre settlement cash advance. For starters, you must be the plaintiff in an active lawsuit. You must also have retained the services of a lawyer who filed your lawsuit for you.
Finally, it helps to have a strong case. North Las Vegas pre settlement companies evaluate the strength of their client’s claims on a case-by-case basis, as this lowers their risk as an investor. In general, the more evidence you have for your claim, the likelier you are to be approved for pre settlement funding.
Connect with Our North Las Vegas Pre-settlement Funding Company
We understand that choosing a company for your lawsuit cash advance is an extremely personal decision to be made between you and your attorney. At Money First Lending, we have a genuine interest in providing residents of North Las Vegas with the financial relief they need—and our terms, conditions and transparent fee structure reflects that.
Ready to speak with a lending professional at our North Las Vegas pre settlement funding company? Call 702-623-3333 or fill out the form below to get your free case evaluation.