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Get Presettlement Legal Funding At Lower Cost People waiting for settlements from their lawsuits, regardless of the type, can now easily access presettlement lawsuit funding. Also known as Presettlement Loans in some circles, they provide a claimant with the chance to access all or part of their settlement before it is distributed. Another widely used term to describe this type of financial transaction is Settlement Funding. It is made possible by the fact that the majority of court cases have clear liability, meaning that a defendant’s negligence is clear and it is often just a matter of the worth of the lawsuit instead of determination of liability. Claimants in personal injury cases and cases involving workers’ compensation are the most common beneficiaries of Presettlement funding. Your Presettlement Loan can be obtained at a lowered cost by following the tips below. 1.Provide all the material facts of the case. One of the major requirements when applying for Presettlement Funding is provision of all the material facts of the case that enabled you to prove liability and be awarded damages. Fill out your application as truthfully and accurately as possible. In addition to stating both the economic and non-economic damages considered in your lawsuit, you should also provide the ultimate value of the settlement. 2. Provide details of medical procedures Another parameter that funding providers look at when considering Presettlement Loans is the provision of detailed information with regard to medical treatments that may have been necessary due to the liable party’s negligence. Any injuries you suffer should be continuously documented without any “gaps” in medical procedures. For complete documentation of your injuries and how they were treated, do not skip any appointments with your physician, even when you begin to feel better. 3. Adequate legal representation When applying for Presettlement Funding, it is best to be represented by the same lawyer who helped you win the settlement where possible. When you use the same lawyer, your lawsuit will not only gain stability, but you will also be able to hold the valuation of the settlement. Having the same lawyer allows you to be represented by an individual or firm that has the best understanding of your particular case, potentially increasing the settlement and easing the application process for the Presettlement Loan.
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4. Carefully consider how much money you apply for One way to lower the cost of your Presettlement Loan is to apply only for what you absolutely need. If your Presettlement loan amount is small, the fees payable upon distribution of the settlement are also lower.
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Summary A settlement loan is not an actual loan in the traditional sense of the word, but refers to a portion of a settlement from a lawsuit being transferred to a financier in exchange for cash payment. A Presettlement loan is a convenient way for a beneficiary of a settlement to access funds with their pending settlement acting as a kind of collateral, but it is vital that they carefully consider the loan amount before making an application.