What is a Lawfunder compensation injury loan?
If you have been in a work or motor vehicle or other accident or slipped and fell at a store, you may have started a personal injury legal claim for compensation. These can be time-consuming, exhausting and expensive. When bills start piling up, you might want to get a loan to help cover necessary expenses.
The problem is that traditional lenders like banks want security, credit checks, asset statements, security, proof of regular income, and regular repayments. If you are injured, quite often you simply cannot provide what the Banks want. This is where the convenience of getting some money from Lawfunder before your lawsuit settles can get you out of financial trouble. Here’s a look at how Personal Injury loans work and some things to know before you apply for one.
If you’re at the start or in the middle of a lawsuit and need money to relieve financial pressure, a settlement loan may be just what you need.
Personal Injury loans aren’t like traditional loans. They’re really a type of advance. While your case is pending, Lawfunder gives you a cash advance on the expected settlement. The types of cases commonly eligible for a lawsuit loan are Personal injury claims (where someone’s actions cause your injury).
Most common are:
- Work Accidents
- Motor Vehicle and Motor Bike accidents.
- Slip and Fall and other Public Liability Claims
- Product Liability Claims.
- Institutional and Historic Child Sexual Abuse Claims.
- Professional Negligence.