A settlement loan is essentially a loan that is given by a legal funding institution. These loans are meant to alleviate the victim’s financial strain and help meet basic needs while the workers’ compensation case is being decided. The biggest perk of a workers’ comp settlement loan is that, unlike a normal bank loan, they work as a workers’ comp settlement advance. Not only are they offered at the lowest possible rate, they usually don’t even require a credit check. The biggest benefit to a settlement loan, however, is the fact that the borrower doesn’t have to pay back the loan if their case failed to settle. This is a service that allows an injured worker to borrow money without a single worry about how their case is going to play out.
Why Would I Need a Settlement Loan?
Workers’ compensation was created as a way to provide injured workers with the financial help they need following an on-the-job injury. That said, the process of actually receiving those benefits can be long and difficult. Well over half of the workers’ compensation claims result in a lengthy legal process. These claims can take months or even years to reach an outcome. While workers’ compensation attorneys negotiate with insurance providers, the victims often struggle to pay bills and take care of their families while unable to work. This stress can have a catastrophic impact on the victim’s life. If an injured worker is waiting on a settlement, a workers’ compensation lawyer can help them obtain a settlement loan that would alleviate the stress without costing a dollar upfront.
How Do I Get a Settlement Loan?
If you or a loved one has recently suffered a workplace injury or are in the midst of a long legal process, you’re likely thinking about financial options. Rather than taking on high-interest credit card debt or a payday loan, you should consider applying for a workers’ compensation settlement loan. A workers’ compensation lawyer works with qualified legal funding institutions every day and can help you find a reputable settlement funding company that can give you a cash advance while your workers’ compensation claim is being processed.
Can a Workers’ Compensation Lawyer Help Get Me a Loan?
If you were the victim of an injury on the job, a workers’ compensation lawyer can be a huge help. A seasoned attorney will fight on your behalf to get you the compensation you deserve. Whether you’re thinking about applying for workers’ compensation for the first time or need a workers’ compensation lawyer to help obtain a settlement loan while your case reaches an outcome, your attorney will be by your side every step of the way. To get a no-cost case evaluation, call Rundlett Law Firm, PLLC at 601-353-8504.