If you’re the plaintiff in a case in which you were injured in a vehicle or otherwise, there’s a good chance you’ve exhausted your bank account and need some extra cash. Pre-settlement options give you the opportunity to get an advance on your final settlement and cover these unplanned expenses.
With a pre-settlement cash advance, you can receive the money that is rightfully yours at an earlier time, eliminating the heavy financial burden that can be accrued during the legal process. Here’s a quick overview of pre-settlement options, and how they can help you get through this harrowing time:
The basics. The concept of settlements emerged in the late 1950s, but pre-settlement options are a relative new opportunity for plaintiffs. It usually takes about 45 days to receive your settlement cash after the case is resolved, but in some cases, you could be waiting upwards of a full year to receive full payment. A pre-settlement advance allows you to sell a portion of your future settlement while the case is still pending for a huge lump sum that can be used in any way you wish.
Keep up with increased living expenses. If you’re going through the legal process, there’s a good chance you’ve had to miss work, accrue medical expenses, or pay for other unexpected fees. About 62% of Americans cannot cover unplanned expenses, and there’s a good chance you are a part of that group if you’re currently awaiting a settlement. Pre-settlement options allow you to stay in front of these expenses so you aren’t drowning in debt by the time you receive your full settlement.
Get a replacement vehicle. A common reason for a settlement to be issued is because of a car accident in which injuries and/or damage to your vehicle occurred. If you were lucky enough to escape the crash unscathed, you may be looking to return to work but are unable to do so because your car was totaled. With a pre-settlement advance, you can buy, lease, or rent a car for as long as you need, so you won’t have to miss work just because this terrible incident occurred.
If you’re awaiting a pending settlement, talk to a settlement expert who can provide you with a cash advance to cover increased expenses and get back to your normal schedule. It’s the best thing you can do to return normalcy to your life during the legal process.