At Patriot Settlement Resources we take pride in helping people obtain a large lump sum of cash now for their future payments from a Structured Settlement, Annuity or Lottery award.
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Member in good standing of the National Association of Settlement Purchasers (NASP)
Settlement Loans
As soon as anything hits the courts then there is bound to a lot of time that needs to pass before anything is actually done. This is not because the courts are slow but rather because the people involved want to make sure that they have the best legal coverage available. In the case of personal injury at the workplace cases, this can take an especially long time. Both the insurance company and the business that has to pay for the personal injury wants to make sure that everything about the case is above board. Meanwhile, the injured person has to sit and wait for some form of settlement while being unable to work or gain an income. A new type of loan, a settlement loan, has come to the rescue.
Personal injury claims can take a long time in court. While the process takes its natural course, the person who is suffering from the injury has to wait and often has trouble making ends meet as their injury prevents them from working. Settlement loans are a type of loan that a person can take out against the potential future proceeds that you are going to receive from the case. This can allow a person to at least continue living a dignified life while the case takes it course and the person is patiently awaiting the outcome of the trial.
Any person that has been injured and had hired a lawyer to represent them in such a case can qualify for a settlement loan. There is no credit check necessary, no verifications of income and the person does not have to guarantee anything. The lender will give the injured person a percentage of what they expect to receive from the case only to be paid back after the payment from the case is made. This might differ from lender to lender but in many cases, should the case be lost for any reason, the person lending the money may not have to pay the money back or only needs to pay back a certain percentage.
A settlement loan can help a person that has been in a serious accident to keep up with the basic costs of living while waiting for the case to be settled. This is especially useful for people that were in very serious accidents and have no means of having any sort of income. This is also useful, as many disability insurance policies will only pay out after the settlement case has been completed leaving the injured person with nowhere to turn until the case is completed.
Settlement loans, while very useful to the person being affected, are still loans. They need to be paid back once the settlement is complete and the payment has been made. Like other loans they also collect interest. Settlement loans are there to help a person make it through the case while the injury is still preventing them from making an income. The loans are not free money.