There are many different words and phrases used when it comes to lawsuit loans and litigation financing. This article explains that the difference was pre-settlement loans and post-settlement loans. It is designed to help you figure out which one is right for you in your current situation. The two sections below explain each and a final summary to summarize the differences and help distinguish which one is right for you.
A pre-settlement loan is a loan given to someone in the process of a lawsuit. It is given before a trial is reached and the lawyers for both the plaintiff and the defendant are still trying the case. It is best for those who need access to financial assets while their case is still pending in the courts. As with all settlement loans, you are not required to pay back the loan if you lose your case. It becomes difficult to get approved for this loan as the matter is yet to reach a decision.
A post-settlement loan is a loan given to a person whose litigation is being appealed. It is common for companies or insurance providers to appeal a lawsuit decision to attempt to overturn it or reduce the amount paid. This is usually easier to achieve because a guilty verdict had already been arrived at and a monetary award was given. With a pre-settlement loan, you are not required to pay back the loan if the judgment is passed in the High Court.
As you can see that even though both pre and post-settlement loans have different conditions, they are the same when it comes to borrowing money. The only difference to them is where your case stands. If you need financial assets to pay bills or anything else, a pre or post-settlement loan is perfect for you.
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Two Lawsuit Settlement Funding Methods
The Pre-Settlement Funding Company
Pre- Settlement Funding: Help When You Need It The Most
Use a Pre-Settlement Loan to Purchase a New Vehicle
Advantages of Getting a Pre-Settlement Loan
Difference Between Pre- Settlement Loan and Post Settlement Loan
Pre-Settlement Loans: Advantages of Getting a Pre-Settlement Loan