The difference between pre-settlement and post-settlement funding is all in the name. Pre-settlement funds are received before a decision is made in a court case, while post-settlement funds come about only after the verdict is handed down. By far the biggest difference is that pre-settlement funds are calculated based on the projected amount of the settlement, while post-settlement funds face fewer restrictions. For the purposes of discussion in this blog, we’ll address how post-settlement funding can help attorneys.
Post-Settlement Funding Can Help With Expenses
As lawyers and plaintiffs wait for settlement money to arrive—a process that can take weeks or even months—expenses can continue to pile up. Post-settlement funding is a rapidly issued cash advance that can be used to cover bills, fees, rent, mortgage payments, and anything else that must get addressed right away. Unlike loans from the bank or elsewhere, availability depends on the strength of your case, and it is not so much a loan as a cash advance. You’re borrowing on the upcoming settlement at a slight rate of interest. While it’s best to borrow from places requiring no fees or interest, post-settlement funding can provide fast cash when you need it most.
Lower Financial Risk for All Involved
When a financial firm gives you post-settlement funding, there’s little risk to them because they already know how much you’re due and what they can expect. They may lend a percentage of the final settlement or the entire amount, but you both know how much is coming. That means less risk for the borrower, which is important because cases can last for a long time. Opposing attorneys can appeal.
Eligibility Is Not Based on Income
Here’s another way how post-settlement funding can help attorneys. The application process is very fast and doesn’t require proof of employment, income, credit rating, or collateral. There are no upfront fees either. It all comes down to the determined settlement. Post-settlement funding is a cash advance, not a loan, and can be awarded within a day or less upon review of the case. When it comes to lawsuit funding for attorneys, it’s a helpful deal.
Post-settlement funding from Apogee is entirely legitimate and based on a sober and rational assessment of the case and the resulting settlement. We won’t lend more than a reasonable percentage of the final reward, making paying us back an easier and more reasonable process. Interest rates are lower than many less-than-legitimate institutions that also provide such funding. The point is to pay off debt, not incur more. Contact us for more information on our services and pre- and post-settlement funding.