Whether you need the money for rent, car payments, or any other expense, getting a loan is difficult when you have bad credit. Few lenders are willing to grant loans to individuals with low credit scores, and the worse your credit history, the more expensive borrowing will be. Unaware of the existence of lawsuit settlement funding, Stacy discovered this the hard way when she tried to apply for loans to cover her living expenses and prevent eviction while her personal injury settlement was pending.
Applying for Legal Loans With Bad Credit
Stacy was hit by a car one night on her way home from her job as a dental assistant, and her injuries prevented her from working. Though the defendant’s insurance carrier would likely agree to a large award, the case was taking years, and Stacy’s savings were depleted. Unable to work and deprived of an income, Stacy fell behind on her rent and her landlord was preparing to evict her. Desperate, she tried to apply for legal loans. Technically, there is no such thing as a “legal loan,” however, Stacy didn’t know about lawsuit settlement funding and tried to apply for personal loans in order to avoid eviction.
Unfortunately, Stacy’s credit was in bad shape. She had taken out student loans to attend college and fell behind on payments. Though her debt was nearly paid off, none of the lenders were willing to grant her a loan due to her poor repayment record. Even if she was able to secure a loan, Stacy was concerned that she would be unable to repay the loan if her case didn’t settle.
Lawsuit Settlement Funding for People With Bad Credit
Unaware that there was a solution to her predicament, Stacy considered settling early in a desperate attempt to avoid eviction. Though the settlement would’ve been paltry compared to what was expected if the case was litigated to its proper resolution, her bad credit made a “legal loan” practically impossible to get, and she needed money immediately.
Luckily for Stacy, a friend gave her a bit of advice that would change her life. The friend told Stacy that loans weren’t the only option available to her. In fact, there was a much better way to solve her problem: lawsuit settlement funding. Unlike so-called “legal loans,” credit is not a factor when applying for lawsuit settlement funding. Individuals with bad credit or even no credit are eligible for a legal cash advance, if they have a pending settlement.
For people with bad credit, obtaining a loan against a lawsuit is not only difficult, it can cause financial problems in their future. A loan must be repaid even if the case is lost; lawsuit settlement funding is only paid back when a case settles. With lawsuit settlement funding from Woodbridge Pre Settlement Funding, Stacy was able to stay in her apartment and see her case through to its proper conclusion. Instead of a smaller settlement, she received proper compensation for her injuries and lost wages.
Steer clear of perilous “legal loans.” With lawsuit settlement funding, you’ve got nothing to lose and everything to gain. Contact Woodbridge Pre Settlement Funding today for a free lawsuit settlement funding quote.
Don’t wait for your settlement, get the cash you need today!