Pre settlement loans are ways of funding a claimant during a lawsuit before the case is finally resolved by a settlement or court decision. Every situation and every person is different, but opting to receive this pre settlement loan funding has plenty of benefits.
Here are a few reasons why pre settlement loans can help people:
Receive Cash Right Away
Getting a lump sum of cash as soon as possible is always a good thing. You’ll be able to plan ahead for what’s to come post trial and you can set up your finances however you see fit. Again, every situation is different, but there aren’t too many situations where receiving a lump sum of cash right away is not a good thing. It’s important to be reasonable with the pre settlement cash, though, as you never really know what’s to come at the end of the preceding. Talk to financial advisors about what to do with your cash if you’re not sure.
Pay Off Any Medial Expenses or Bills
Depending on the situation, you might have medical expenses that need to be addressed. After receiving this pre settlement funding, you can pay off some — if not all — of your health-related expenses.
Paying off other expenses like credit card bills is a great and responsible way of using your newfound cash. Roughly 26% of U.S. adults admit to not paying their bills on time and only 37.4% of people pay their balance in full each month on their credit cards. Wholly 15.9% pay only the minimum monthly balance. Because nearly 70% of Americans believe there is a greater stigma involving credit card debt, being responsible with your pre settlement loans and using it to pay off your debt is a great way to set yourself up to have a secure financial future.
Put the Entire Situation Behind You
These trials can often be the most stressful and overwhelming times in a person’s life. Getting out before you are mentally and physically drained has tremendous benefits. You might have to tough it out until the complete end of the proceeding, but a settlement could be reached if you are working with experienced professionals.
If you are looking to contact pre settlement loan companies, contact iSettlements today!