If you have been the victim of a serious personal injury because of another party’s negligence or recklessness, you can file a lawsuit against those responsible for your injuries. However, even with a strong case, a settlement can take months or even years to come through.
In the meanwhile, you are struggling to recover and keep your head above water financially. Medical bills are piling up, and you must cover your daily living expenses. Pre-settlement funding in Missouri can get you the cash you need now to pay bills, buy food, and cover your rent or mortgage.
Although pre-settlement funding is sometimes called a lawsuit loan, that description is technically inaccurate. It is a disbursement of money in anticipation of your settlement, similar to a cash advance.
Your potential settlement serves as a form of collateral. There is no credit check or background check, and pre-settlement funding in Missouri does not affect your credit score.
Use the money to cover any of your needs. There are no restrictions on the funding’s use.
How Pre-Settlement Funding Works in Missouri
In Missouri, only those plaintiffs currently pursuing a personal injury lawsuit and working with a lawyer are eligible for pre-settlement funding.
Your lawyer must agree to work with us in order for you to qualify for pre-settlement funding. We will discuss your case in depth with your attorney to determine its merits. Based on the strength of your case, you may prove eligible for Missouri pre-settlement funding.
Missouri pre-settlement funding is non-recourse. That means that if you do not win your case, you do not have to repay the funds already distributed. That is a risk the lender takes on.
If you win your case or settle it out of court, you must pay the pre-settlement amount back to the lender, with fees.
Missouri Pre-Settlement Funding Laws
Only those aged 18 and up with a personal injury lawsuit filed in civil court may apply for pre-settlement funding in Missouri.
When it comes to liability, Missouri operates under a pure comparative negligence standard. Even if the plaintiff is still partly at fault for an accident, they can still recover damages. For instance, if a judge or jury determines that you were 20 percent responsible for the event that led to your injuries, you can still receive damages minus the percentage of fault. In this scenario, a $100,000 settlement amount is reduced to $80,000.
In Missouri, the statute of limitations for filing a personal injury lawsuit is five years from the date of the incident. That is one of the longest statutes of limitations in the nation. Failure to file a lawsuit within this time period means your case cannot go forward.
Learn More About Pre-Settlement Funding in Missouri
If you would like to know more about pre-settlement funding in Missouri and how it can help you, contact Mustang Funding today. If approved, you may receive your funding in as little as 24 hours. We serve St. Louis, Kansas City, Springfield, Columbia, and all other areas of the state.
