What You Should Ask Before Getting a Lawsuit Loan
If you've been hurt in an auto or work accident and your injuries have impacted your ability to work, you may be considering a lawsuit loan to get you through until your lawsuit is over and you get your settlement. There are a number of companies in New Limerick ME that can provide you with a lawsuit loan, but before you make a choice, you should as a few important questions.
Have You Exhausted Your Other Options?
Most experts recommend a lawsuit loan as a last resort. While they can be a lifesaver if you desperately need the money to pay your medical bills, save your home from foreclosure or deal with living expenses, a lawsuit loan can be expensive. If your lawsuit is expected to take time and you need the money now, though, a lawsuit loan can be the perfect option.
What Are Your Chances of Winning Your Lawsuit?
Most [statetitle] companies will only extend a lawsuit loan on cases that have a high chance of succeeding and bringing in a decent amount of money. The loan company will discuss your case with your lawyer and decide whether to extend a loan and for how much.
What Are the Terms and Rates?
Because businesses who can offer you a lawsuit loan are not regulated by the government, you'll find a wide range of terms and interest rates. Take the time to shop around among the companies that offer lawsuit loans in New Limerick ME and find the best terms for your needs.
Does the Company Charge an Application Fee?
Most lawsuit loan companies don't charge application fees. If the company you choose does, they may be willing to waive it if you ask.
Tips for Getting a Lawsuit Loan
Get your attorney involved. He'll know which companies are trustworthy and can help negotiate the most favorable terms for your loan repayment.
Always check to make sure that your lawsuit loan provider has no financial relationship with your lawyer or a medical provider.