Injury attorneys want to help clients with cash loans against their settlement amount, to help ease financial burdens.

Illinois Injury Attorneys, Ferris, Thompson & Zweig Ltd. Is offering loans to assist their clients financially, that cannot wait until their settlements are finalized. Personal injury and accident victims can wait years for their case to even get into court, and many more years to actually receive payment. This makes the pre-settlement loans a popular growing trend. These loans are typically offered by a third party lender. This lender will evaluate the case and determine if a favorable outcome is likely before extending the loan. These pre- settlement loans are not based upon credit reports or credit scores.

Many lenders will now offer either a monthly installment or a one lump sum payment. The cost of these loans can vary greatly, and are generally a percentage of the loan or settlement amount. If you lose your injury case you will not be required to repay the loan.

Some advantages of these pre-settlement loans are: You get the money you need now, and not in several years after your case is won. You can pay bills, buy groceries; replace your vehicle, any financial needs you have. These monies can come in handy especially if facing extenuating legal fees and medical fees mount up. Many lenders will have funds available within 24 hours of loan approval.

With this comes certain disadvantages; the cost of these loans can be pretty steep, the interest rates are often rivaled by people with poor or no credit. These loans will have a onetime fee associated with the loan that will be paid if you win your case. This amount can range from a couple hundred dollars to several thousand, so always ask about this fee before signing your loan agreement, as it will vary widely by investor.

These lenders and options have become quite popular in the United States, which can be an advantage, if you choose to pursue it. This allows for more choices and options when deciding if a pre-settlement loan option is right for you.

For more details:

Personal Injury Attorneys Illinois

Illinois Accident Attorney

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