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Understanding the Differences Between Lawsuit Cash Advances and Loans

ThinkingAboutMoney

If you are a plaintiff in a personal injury case, you already have a lot on your mind. If your injury prevents you from earning an income, you may be concerned about paying bills or expenses during the course of the litigation.

“Lawsuit Cash Advances” are becoming an increasingly popular and widespread way for people such as you who find themselves in this difficult situation to receive much-needed cash before their case is settled. But there’s also some confusion about the difference between a lawsuit cash advance and a loan. After all, the idea of getting cash with “no strings attached” can sound too good to be true. So we’d like to explain the differences between lawsuit cash advances and loans.

  • A lawsuit cash advance is NOT a loan. You are actually taking an “advance” on all, or a portion of, the anticipated cash award you’ll receive if you win your case.
  • If you do not win your case, you do NOT have to pay the money back, regardless of the amount you receive. This is perhaps the most an important difference between a lawsuit cash advance (also known as a “non-recourse” cash advance) and a loan. If we determine that you are eligible for a lawsuit cash advance based on the legal merits of your case (in other words, how likely it is that you will win), then we will advance you the amount of money we anticipate you will get when the case is settled in your favor. We shoulder all of the risk and only get our money at the end of the litigation process if you win your case.
  • You do not pay interest in a lawsuit cash advance. Since the cash advance is not a loan, no interest is charged on the amount of money you receive.
  • Unlike a loan, there are no monthly payments or up-front fees to worry about. Additionally, there is no cost or obligation to apply for a free evaluation of your specific case.
  • Unlike applying for a loan, there is NO credit check for a lawsuit cash advance, nor does it affect your credit score, since eligibility is determined solely on the merits of your case.
  • Getting approved for a loan takes time. But once you’re approved for a lawsuit cash advance, you can usually get your money within 24 hours.
  • Loan applications can be complicated, requiring you to disclose personal information. Applying for a lawsuit cash advance is straightforward and 100% confidential. Just fill out a simple online form, answer a few questions about your case, and we’ll take it from there.

These are just some of the key differences between a loan and a lawsuit cash advance from Global Injury Funding. If you think that you, a friend, or loved on can benefit from the financial peace-of-mind that a lawsuit cash advance provides, please contact us. Our caring, professional, and courteous staff will be there every step of the way to assist you and answer all your questions. Call us today at 800-980-2278.

 

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