Could You Qualify for Pre-Settlement Cash? How Your Lawyer Could Help You Settle Medical Bills

Cash for  a settlement

Whatever happened to the American dream? Recent studies reveal that more than half of all Americans carry more than $7,000 in credit card debt, and that in the last 12 months more than $55 billion was charged to credit cards. Add in student loans — usually more than $30,000 for new grads — and medical bills, and the average American family could really use a financial break. More than three-quarters of all adults report that they lack emergency funds and are “living from paycheck to paycheck” without much financial stability.

There are always options to save money, and finding ways to cover living expenses and eliminate debt can be simple. Finding discounts on car insurance, using coupons, and even visiting consignment stores for high-quality, gently used clothes can help save hundreds every month. In the event of an unexpected accident or medical event, there can be options that allow for the disbursal of pre-settlement cash for people looking to pay off loans, return to school, or purchase a vehicle.

Depending on the amount of pre-settlement cash advances, there may be minimal paperwork involved in requesting pre-settlement funding. In cases of medical malpractice and personal injury in particular, clients may be able to realize up to 20% of the anticipated settlement amount. Covering attorney costs, paying household bills during a period where work attendance may be disrupted, and keeping medical bills up-to-date can help an injured party get through a difficult period in their lives.

Pre-settlement cash advances may incur a small fee, depending upon the state, and clients may not be required to repay them if they eventually lose the case. Liability for repayment may vary by state, but law firms that approve the payment of pre-settlement cash advances understand that cases may not resolve in their clients’ favor. The cash is typically distributed through a third party, and outside funding agencies may request that processing fees be returned to them in the event of a client victory.

Nobody ever expects to become involved in a personal injury or medical malpractice lawsuit, and watching medical bills accrue can be worrisome. Contacting attorneys who can talk to clients about the specifics of the lawsuit can often assist with financial details, helping clients maintain their financial freedom while they await the outcome of a lawsuit.

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