The Kryder Law Group, LLC
Leading Chicago Personal Injury Law Firm
https://www.kryderlaw.com
In our latest blog, we answer 25 of the most frequently asked questions about personal injury litigation loans. Sometimes these loans are referred to as injury loans, accident loans, lawsuit loans, pre-settlement loans, or case loans. All of these loans use the value of an injury claim as collateral to provide an advance to an injured person before settlement. The author is not endorsing or discouraging the practice of pre-settlement loans, rather simply trying to educate consumers on the pros and cons associated with this type of loan product. Nor is the author endorsing any loan company as better than others. This article is simply attempting to comment on a topic that clients frequently ask about. Clients often ask: How can I get a loan on my injury lawsuit? Or, is it a good idea to get an advance on my injury case? The answer depends on your individual circumstances.
Pre-Settlement Injury Loan FAQs
If you have been injured in an accident, call us.
312-223-1700
Here are some important FAQs about personal injury litigation loans.
Read our blog post for even more helpful FAQs.
Why You Might Want an Injury Loan
Injury cases can take time. Waiting for a settlement may take longer than expected and you may need money now to address financial obligations. In some instances, clients may ask how they can obtain a loan today using money they intend to get from the settlement of their lawsuit at some point in the future.
Your Lawyer Can’t Loan You Money But Loan Companies Can
Lawyers are not allowed to loan money to their clients, but there are plenty of loan companies that can.
How Litigation Loans Work
The idea behind litigation loans is no different than other types of traditional loans.
The accident loan companies are advancing money to injured people and using the future settlement or judgement as collateral for the loan.
Don’t Hesitate to Ask Your Lawyer About a Case Loan
In the personal injury world, lawyers often have discussions with their clients about loans.
You should always discuss matters related to your case with your attorney—it is a smart thing to do.
If you have been injured in an accident, call us. 312-223-1700
Recent Comments