Settlement money is what you will be given to you in the event you are suing due to a personal injury. In most cases, you will only get this money once the case has been settled. The time it takes for the case to be over will be very long. You could still be hurting from the injuries you got medical center or at your home. You will find it hard to pay bills because you won’t be at work. Hnec taking a pre-settlement loan is the best way for people in these cases. But you should be careful and avoid getting into some shady pre-settlement lawsuit funding scenarios. Here, we discuss the ones you are to avoid.
The first scenario to look at is where you will end up paying for a loan you never go. This could be that you had backed out of the application process before it you had gone through. The pre-settlement loan company will most likely ask you to repay the loan plus the interest, you should not do what they say. No matter how much intimidation you get from them, never cave in and pay the money.
The second scenario is that the pre-settlement loan funding company could sneak some details into the contract. There a possibility that thing will not be good for you when you just sign that contract. Hence, giving the pre-settlement loan contract to your lawyer to read before signing should be done. Only if your lawyer gives you a go-ahead when done reading the contract should you sign.
The third shady scenario to walk away from is when the pre-settlement loan tells you not to come with your attorney. If the pre-settlement loan company is any good, they will make it a must that you have your lawyer present. This is, therefore, a red flag. For that reason, do not choose that pre-settlement loan. The moment you listen to them and do not bring your attorney with you, they will take advantage of you.
To end with, you should also avoid scenarios where the loan will be packaged or sold to you as being very easy to get as well as very simple. be cautious of any pre-settlement loan company that will not mention the conditions and terms that come with that loan that they will give you. By hiding the true nature of the loan just means that the loan will cost you more harm in the long rub. Only if a pre-settlement loan company is truthful about the nature of the loan, should you choose it.