What is the Difference Between a Lawsuit Loan and Pre-Settlement Funding?

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What is the Difference Between a Lawsuit Loan and Pre-Settlement Funding?

by | Oct 7, 2020 | Frequently Asked Questions | 0 comments

Seeking Financial Help While You Wait for a Settlement? Get to Know Your Options.

Despite sometimes being used interchangeably, a lawsuit loan and pre-settlement legal funding are two completely different forms of financing. Personal injury lawsuits are taking longer and longer to settle, putting injury victims at a distinct disadvantage.  When you are hurt in an accident, you may be unable to work and need money now to pay your mortgage, medical bills, or everyday expenses. Obtaining funding can help alleviate the financial hardship created after an accident caused by someone else’s negligence or wrongdoing, but not all funding is created equal. 

Call Triumph If You Need Quick Funding!

If you were injured in a car wreck, slip and fall, or other accident, contact Triumph Legal Funding to get the cash you need now. Triumph provides pre-settlement legal funding for accident and injury victims nationwide.  You should never have to settle for less than your case is worth. Find out how we can help by calling (973) 362-3500 or fill out our online contact form for no risk, fast approval.  

What Is a Lawsuit Loan?

Lawsuit loans are a type of financing given to individuals awaiting a settlement on their case. They are most common in personal injury lawsuits but can be applied for by other plaintiffs as well. Both pre-settlement legal funding and lawsuit loans can be used to cover medical expenses, rent or mortgage payments, groceries, and any additional out-of-pocket costs. Loans, however, can cost you substantially more due to high interest rates and fees. 

What Is Pre-settlement Legal Funding?

Pre-settlement legal funding, on the other hand, is not a loan. Triumph legal funding provides funding for attorneys and injury victims to bridge the gap between accident and settlement.  With pre-settlement legal funding, you can receive the money in as little as 24 hours, and we only get paid if you win. Triumph receives an agreed-upon portion of the recovery; if your case is unsuccessful, you pay nothing. Our company absorbs the risk so that you can worry about getting better instead of having to stress about finances.

Find Out How Triumph Legal Funding Can Help

At Triumph Legal Funding, we are committed to helping injury victims, and attorneys get the money they need to successfully litigate a case. Our pre-settlement legal funding allows attorneys to pursue the maximum compensation for their clients by eliminating the financial hardship created after an accident.  Insurance companies know that plaintiffs are often at a disadvantage and may need money fast. They use several different tactics to try to get an individual to settle their claim quickly. With pre-settlement legal funding, injury victims are less likely to feel pressured into settling their case for less than it is worth when they have the money they need to cover living expenses and medical costs. If you have been injured because of someone else’s negligence, contact Triumph Legal Funding today at (973) 362-3500 to discuss your options. We provide pre-settlement legal funding for attorneys and their clients nationwide. Do not settle; call today to get cash fast and find out how we can help fund your way to victory.