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How do settlement loans work?
- First you must apply online. The application process takes a couple of minutes. There are no fees or obligations to continue with the loan.
- We will then contact your lawyers office to request documentation supporting your claim (or you can fax it to us directly at 215-689-2941).
- Our legal team will review the documentation and in most cases we can make a decision within 48 hours. We will then contact you to inform you of the amount we can loan you and what the terms of the loan will be.
- You will be under no obligation to take the loan or you may select to take a portion of the loan we offer.
- A check is issued in your name and mailed via Federal Express, or other reliable delivery service, to your residence or your attorney’s office.
Who qualifies for a settlement loan?
Anyone who has a pending legal claim, including a worker compensation claim, qualifies for a settlement loan.
Is it legal to get a settlement loan against a legal case?
Yes. The claim or lawsuit is yours and you own it, just like you own your car. After paying your attorney and medical liens, the potential remaining money is yours.
In what types of cases will Settlement-Loan.com issue a loan for?
Settlement-Loan.com offers loans on bad car accidents, bike accidents, medical malpractice lawsuits, toxic mold litigations, slips and fall injuries, sexual harassment, wrongful death, Jones Act and more.
How does the whole process work?
We advance money now in return for a portion of your potential proceeds, whenever that may be. If the case is lost, you owe nothing.
Does it matter how long the case takes to be resolved?
No. Whether you settle in 2 months or obtain a verdict in 5 years, there is no financial obligation until resolution of the case.
Do I have to repay the loan if the case has no settlement or verdict?
No. There is no recourse against you and we will not try to collect the money from you. Once we advance the cash it is yours to keep. This is a non-recouse, pre-settlement loan.
How long does it take to get approval?
After the requested documents are received and the facts are discussed with your attorney, you approve you within 48 hours.
What are requirements for a settlement loan?
Most cases require a police report, medical reports that substantiate the injuries sustained, and other pertinent information.
Will my credit affect my ability to get a cash advance?
No. Settlement loans are based solely on the facts of your case.
Are there any up-front costs to me?
It costs nothing to request an advance. After you submit your request and your attorney provides the necessary information, your case is evaluated. If you are approved for a settlement loan, there are fees charged to you that are paid only if your case is successful. You and your attorney will be advised of all fees and costs prior to you accepting the settlement loan.
How, and when, do I receive the money?
Once the agreement has been signed, notarized and acknowledged by your attorney, a check is issued in your name and mailed via Federal Express, or other reliable delivery service, to your residence or your attorney's office.
Is a settlement loan a conventional loan?
No. Most conventional loans are recourse loans, which means that the money must be repaid on a monthly basis to the lender. Settlement loans are non-recourse, pre-settlement advances. Meaning you owe nothing if you lose your case. Settlement- Loan.com sources absorb the loss and you keep the money already advanced to you.
Does Settlement-Loan.com participate in my case?
No. Settlement-Loan.com does not participate in the litigation.
Can Settlement-Loan.com represent me in my lawsuit?
No. We do not practice law and we do not provide legal services.
How do we get started?
Just fill out our online application or contact us at 1-215-740-1293.
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