Whether your serious injuries involved a car, truck, bus, or motorcycle crash or you were hit while out walking or cycling, you might receive compensation by filing a personal injury lawsuit. While motor vehicle pre-settlement lawsuit funding is sometimes referred to as a lawsuit loan, it is actually not a loan at all. Think of auto accident pre-settlement funding as a cash advance on your future settlement. It can serve as a financial lifeline while you await the results of insurance negotiations or a jury verdict.
Even if you’ve hired an attorney and a lawsuit has been filed, the time it takes to reach a settlement is hard to predict and can vary drastically. A survey conducted by lawyers.com found that the average car accident claim takes 10.7 months to resolve in the form of a settlement check. Respondents who hired an attorney for their claim reported an even longer timeframe – that it took an average of 18 months to conclude their cases successfully.
Cases that involve substantial injuries and high dollar figures can also take longer to settle because the insurance company will fight harder over them. These companies are profit-driven, and often seem to use tactics that prolong litigation and encourage plaintiffs to give up or accept less money than their case is worth.
Our application process is free, with no hidden fees or charges. And if you have any questions, our team is here to help. Contact us today to learn more about how pre-settlement funding can help you get the financial support you need during this difficult time or apply by filling out the form below.
To qualify for auto accident pre-settlement funding, you must be at least 18 years of age, have a pending personal injury lawsuit, and a lawyer representing you. Your attorney must agree to share details regarding the strength of your case with the funding company. The defendant in the case must hold the majority of liability. If you meet these criteria, fill out an application on the funding company’s website.
The funding company wants specific information from you and your attorney. You must provide information about the nature of the motor vehicle accident and your injuries. The funding company reviews and evaluates your case and consults your lawyer to determine how likely it is to succeed. If it appears your case is strong and you are likely to win a substantial settlement or award, you are usually a candidate for pre-settlement funding.If the application is approved, the money is usually available within 24 hours.
Your pre-settlement funding amount is paid back when you receive your settlement or award. The interest rates and any additional charges on your pre-settlement funding and repayment are disclosed before you sign the contract so that you can make a fully informed decision. Always make sure you understand the terms and conditions of any agreement.
Regulations regarding motor vehicle accident pre-settlement funding vary by state.
Unlike with a loan, your credit score is generally not a factor in pre-settlement legal funding. Funding companies typically do not perform credit checks when evaluating pre-settlement funding applications. There is also no employment or income verification required.
Pre-settlement funding is based primarily on the strength of your legal case, not your credit score.
It can take a long time to settle a car accident lawsuit. In the meantime, you have medical bills and ordinary life expenses to pay. If your accident renders you unable to work, you could find yourself unable to pay your rent, mortgage, grocery, or utility bills. Insurance companies know that if they delay settlement for as long as possible, accident victims may settle for far less than they deserve out of necessity.
With pre-settlement funding, you receive money to cover your medical bills, living expenses, and other costs. There are no restrictions on how pre-settlement funds are used. Pre-settlement funding provides a financial “breather” so that you are not making decisions out of financial desperation. Your lawyer has more time to negotiate with the insurance company so that a satisfactory settlement is obtained.
Pre-settlement funding is non-recourse. The funding company takes all of the risks. If it turns out you do not receive a settlement or the jury’s verdict is not in your favor, you do not have to pay the money back.
To learn more about personal injury pre-settlement funding and whether you qualify, schedule a free consultation with Mustang Funding today. Since 2018, we have provided more than $150 million in funds to plaintiffs and attorneys.
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Mustang Litigation Funding works with capital partners and affiliated entities to provide a non-recourse cash advance to an individual. All non-recourse cash advances are subject to review and approval. Not all cases or requests will qualify. Certain states regulate non-recourse cash advances and may disqualify an applicant from receiving a non-recourse cash advance from Mustang Litigation Funding or its partners/affiliates.
This web site is for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or investment advice. You should consult your own tax, legal, investment advisors before engaging in any transaction.
