The process begins when an injured person applies for pre-settlement funding. This application generally requires some basic information about the plaintiff and the case itself, such as the estimated amount of damages sought, any attorneys involved in the case, and the expected duration of the process. Once this information is submitted, a financial partner will review it and determine if pre-settlement funding is appropriate. If approved, funds are advanced to the plaintiff within 24 hours of approval.
While it may sound too good to be true, pre-settlement funding is actually quite simple. The plaintiff receives money from a third party that does not require repayment until there is a successful outcome in their case — either through settlement or trial verdict — at which time repayment will be made from those proceeds. In essence, you receive much needed cash now without worrying about repaying it until after your lawsuit has been resolved successfully.