Any situation that puts you in a position where emergency funding becomes a necessity can be stressful and foreboding. Along with the heaps of mounting expenses that loom on your immediate horizon, also lies the added spectre of a sizable loan which ultimately must be paid back — regardless of the case outcome. (That means high interest rates piled on top as well.) Under such circumstances, the loan – sought initially as a means of temporary salvation — can wind up as much an albatross hanging around your neck as the accident itself.
If your case drags on, as many of them do, it becomes one more liability in an ongoing ordeal. Emergency funding is supposed to provide you with the means of fending off your debts, not adding more to an already sizable list.
A presettlement cash advance functions in an entirely different way than loans – and all to your advantage. There is no payback, as with a loan. Presettlement companies are compensated in ways that are designed to improve your situation, not hamper it. Here are some of the striking differences between taking out a loan and applying for an emergency cash advance:
A loan first requires credit checks and a determination whether you have the resources to engage in a repayment process … which will include significant interest charges because that’s how banks and credit unions profit from the loans they provide. So, in essence, what you have acquired is a glorified credit card – good for the present in handling the wave of bills crashing down on you – but then, later on, you may get caught in an undertow of repayment & finance currents that can wind up drowning you. Not exactly the “solution” you were seeking. The purpose of emergency funding is to help get you out of that abrupt financial crisis caused by an untimely accident – not to land you in a deeper pit of debt.
A presettlement cash advance is the kind of rescue force you’ll want to enlist in such situations. And a rather noteworthy factor, right off to bat, is that there are no credit checks to determine whether you are a safe bet or not. It is the predetermined strength of your case that is weighed when evaluating whether you receive those vital funds or not. Police reports, medical & insurance analysis, and a thorough conference with your attorney is the mode of operation conducted by a reputable presettlement firm. These are the crucial factors being weighed when the question at hand is eligibility for an emergency cash advance.
And there is no painstaking waiting period. If the firm you have contacted is up to speed, literally, then you’ll have those much-needed funds in your hands within 24hours! This, of course, is contingent upon the perceived strength of your case.
If the company’s research – police reports, medical records, insurance claims, your attorney’s input – indicates you have a clear chance of winning and receiving a generous settlement, then the advance funding is yours practically on the spot …Yours to use as a monetary barricade against an onslaught of bills that might otherwise have buried you.
This money is yours to keep – win or lose. If the presettlement firm errs in its judgment and you do not win or receive the type of settlement expected, it is their loss to absorb, not yours. That is the chosen risk all presettlement firms take in entering this sort of business. They must count on a sure thing. But if their personnel know their business, as they should, the company’s winning record speaks for itself. In purchasing a portion of your future settlement, a successful firm follows the mantra of Sun Tzu and the Art Of War: “Every battle is won before it’s ever fought.” Otherwise they will suffer loss after loss while “donating” funds to clients engaging in losing cases.
A successful company can ill afford such blundering, so check their record first. If you see a trend of consistent settlements in their favor, then you know you’re with the right firm – that your decision to go with presettlement funding over a bank or credit loan is a wise one – and that you have already chosen a course of action that guards you against further financial woes. With an emergency cash advance, you not only have found a means of staving off a rush of overwhelming bills, you have also chosen peace of mind as your case proceeds … because there is absolutely nothing to pay back.
You simply sit back, use the emergency funds to pay your bills, and let the professionals take care of the rest.