Suffering a personal injury due to another party’s negligence or recklessness turns your world upside down. While recovering from your injuries, you may be unable to work, but medical and other bills keep piling up. You might face eviction or lose your home to foreclosure. Meanwhile, your case may take months or even years to work its way toward a settlement or verdict.
If you have an ongoing personal injury lawsuit against the party responsible for your injuries, you may qualify for pre-settlement funding in Florida. These funds can help you pay your living expenses while you wait for the outcome of your lawsuit.
Although pre-settlement funding is sometimes called a lawsuit loan, it is not a loan per se. Instead, it is like a cash advance. Your future settlement serves as a form of collateral. You can spend pre-settlement funding on whatever you need to ease your financial burden. If you reside in Miami, Tampa, Orlando, or anywhere in Florida, call Mustang Funding today to get started.
How Pre-Settlement Funding Works in Florida
One of the advantages of pre-settlement funding is that it is non-recourse. That means if you do not win your case or do not receive a settlement, you do not have to pay the money back. That is a risk the lender takes on.
Because pre-settlement funding is not a loan, it does not affect your credit score. No credit checks are conducted.
Pre-settlement funding in Florida works like this. If you’re in a lawsuit and need money to cover expenses while awaiting the conclusion and settlement of the case, you can take out an advance on the money you expect to win. As a result, you won’t have to settle for less than you deserve, which gives you the chance to hold out for a better outcome.
Your attorney must agree to work with us before you can receive pre-settlement funding. When you receive your settlement or verdict award, the pre-settlement funding and associated fees are collected by the lender before you receive your settlement money.
Florida Pre-Settlement Funding Laws
Under Florida law, to qualify for pre-settlement funding you must reside in the state or have a pending personal injury lawsuit there. Other requirements include:
- Severe injuries caused by a third party
- A personal injury claim filed in civil court
Personal Injury Pre-Settlement Funding in Florida
Personal injury pre-settlement funding in Florida all depends on the strength of your case. We will gauge the strength of your case after a discussion with your attorney.
In Florida, the statute of limitations for filing a personal injury lawsuit is generally two years from the date of the injury. Failing to file your lawsuit within that timeframe means your case cannot go forward.
Learn More About Pre-Settlement Funding in Florida
If you would like to know more about how pre-settlement funding can help you in Jacksonville, St. Petersburg, or anywhere in Florida, contact Mustang Funding today. If approved, you may receive your funds within 24 hours.
