Many victims whose injuries resulted from another party’s negligence cannot focus just on their recovery because they need to pay their bills. Pre-settlement lawsuit funding can be a valuable resource for plaintiffs waiting for a resolution of their case. At Mustang Funding, we are a litigation finance company focused on high-quality, transparent capital solutions for law firms and their clients.
Pre-settlement funding is sometimes called a lawsuit loan, but that term is incorrect. It is not a loan. It is a disbursement of money in anticipation of a settlement down the road. It is similar to a cash advance. The money is repaid when you receive your settlement or jury award. To learn more, contact us today. Here’s how pre-settlement funding works and its myths and truths.
Myth: Pre-Settlement Funding is Like a Bank Loan
Plaintiffs might assume that, much like a bank loan, they will be required to repay the entire amount, regardless of the outcome of their case. One of the key advantages of pre-settlement funding is that it’s not a loan, and it’s non-recourse. You only repay the money if you win your case. If the verdict is not in your favor, you owe nothing.
Myth: You Can Only Use the Money on Bills
Pre-settlement funding is not just for paying bills. It’s a great way to handle immediate financial needs, like rent or medical expenses, but you can use the funds for whatever you need. Unlike traditional loans, where you often have to specify the purpose of the funds, a pre-settlement funding advance typically gives you the freedom to use the money as you see fit.
Need to stock up on groceries? Want to pay off your child’s tuition? Looking to invest in your well-being with therapy or counseling? Pre-settlement funding is designed to provide you with the financial resources to make the best decisions for yourself and your family.
Myth: You Need Good Credit to Get Pre-Settlement Funding
One of the biggest misconceptions about pre-settlement funding is that you need good credit to qualify. At Mustang Funding, there is no credit check or employment check for this type of legal financing. Instead, we contact your attorney to learn more about your case so we can prepare a proposal based on the likelihood of a good outcome. It means that even if you have less-than-perfect credit, you can still be approved for funding.
Myth: All Pre-Settlement Funding Companies Are the Same
Mustang Litigation Funding provides best-in-class capital solutions for law firms, plaintiffs, litigation vendors, and other legal assets. We offer ethical institutional litigation funding to support justice. With personnel having 100+ years of combined investment experience and 50+ years in litigation finance, we’ve empowered 5,000+ civil litigants and 800 law firms.
Our innovative and flexible litigation funding solutions ensure that no one is denied their right to a fair legal battle due to financial constraints. We achieve this mission through a commitment to transparency, integrity, and unwavering support for our clients as they navigate the legal landscape.
Contact Mustang Funding to Get Started
Assuming you’ve met the threshold requirement of retaining legal counsel and have a pending legal action filed in court, the first step toward receiving a cash advance on your future settlement is to apply. You can also check out our ultimate guide to pre-settlement funding. Mustang Funding helps level the economic playing field so you can hold out until justice is served. We have streamlined the process with a simple, one-page application you can complete in just a few minutes. Got questions? Our team is eager to provide the answers you need.
