Legal Funding

Why would you need to take out a settlement Loan?

A Lawsuit loan can help you get through times of financial stress. Most personal injuries place victims in a tough place, they are injured and cannot work and therefore make a living. But in addition to the day to day needs that require continued, uninterrupted income… In many cases there are additional medical expenses.

Personal injury victims can be seriously injured and are unable to work, and in some cases employers will let you go and on top of the injury, you can find yourself unemployed. But bills continue to arrive. And it’s no secret, the legal system operates very slowly and lawsuits can take a long time to resolve. A typical legal action for a motor vehicle accident takes years and insurance companies know most victims can become desperate after you have exhausted all your savings and other means of borrowing. Lawsuit loans may be the only way to stave off eviction or car repossession, or even put food on the table. If this is your circumstance, then a lawsuit loan may be your only option. On the other hand, if you are merely impatient or you want some money for Christmas or birthday presents, you would be a fool to take out a loan at such a high interest rate. Your short-term pleasure will be more than offset by your long-term pain when the time to repay the loan comes around.

Since you could be out of work, your health insurance might be canceled, and you will not be able to get the treatment you need.  The defendant’s insurance companies know that plaintiffs are in a cash crunch and be willing to accept a low ball settlement offer (even against the advice of their attorney). This is where a legal funding can help you, the little guy even out the playing field. We can help you with a lawsuit loan, pay your rent, your car payment, your medical bills. You can use the money for anything, there aren’t any restrictions. Then you can hold out for the lawsuit settlement that you deserve.

Keep in Mind that unlike a traditional bank loan, settlement loans are re-paid only if you successfully win your claim/case.

Best of all, if we get you money and you lose your case, you keep the money and are not obligated to pay back the loan. You have ZERO risks! Traditional bank form loans are repaid on a monthly schedule.  So immediately after taking out a loan, you start each month paying down the interest and then finally the principal. But with a settlement loan, you repay at the conclusion of the case, and from the time you took the legal funding till you repay, the interest accrues.  That is why you need to be careful on how much and how often you get lawsuit loans for the duration of your case.  It may seem obvious to point this out, but insurance companies know that plaintiffs face financial hardship, and they will drag the process out so to pressure you to take a low-ball settlement offer.  In the end if you do this, you might not receive all the medical and financial re-imbursement you are entitled to.  In addition, your attorney will not be compensated to their rightful amount as well.  And if you do pressure your attorney to accept a substandard settlement offer, they might have spent more to build your case against the defendant’s insurance company then they might recoup.  That is where Pegasus Legal Funding LLC can help you level the playing field and fend off those insurance companies low settlement offers, and get the sufficient amount of money you rightfully deserve. Don’t be one of those people who is forced to take a low settlement offer. Realize that you were inured at no fault of your own and those responsible should be held accountable and pay you what you deserve. Call us today to get the process started: 866-941-5588