If you suffered injuries in an accident and someone else is to blame, you can take legal action to receive a settlement. But sometimes, it can take a long time to recover the money you deserve. Working with a pre-settlement funding company in Nevada can get you the money you need now.
Life can seem unfair when you’re unexpectedly injured in an accident. Through no fault of your own, your life can change forever, both physically and emotionally. Fortunately, you can sue the liable party in your accident for what happened, but lawsuits take a long time to resolve. While you wait for your case to close, you’ll be fully responsible for your finances.
Many injury victims mistakenly believe that waiting for their settlement is the only choice. But with a Nevada settlement loan, you can get the money you deserve quickly. There are many Nevada pre-settlement funding companies out there, but it’s important to borrow from someone you can trust.
At Money First Lending, our goal is to help you come out of your situation feeling confident and free. We’ll fund part of your settlement now so you can pay your bills and begin the recovery process.
What Is Pre-Settlement Funding?
Pre-settlement funding is essentially a cash advance on your settlement. When you’re in the process of suing someone for damages, you can apply for a settlement loan in Nevada and receive an advance on the money you expect to win.
Unlike regular lenders, pre-settlement funding companies are non-recourse lenders. You won’t have to pay the money back if you don’t end up winning your settlement.
How to Choose a Pre-Settlement Funding Company
There are many pre-settlement funding companies in Nevada and nationwide. Each one has different rates and regulations regarding funding. You should discuss your choice of a pre-settlement funding company with your lawyer. They can give you advice on how to proceed.
At Money First Lending, we pride ourselves on being locally owned and operated in Las Vegas. We know the lawyers and insurance companies and feel that our experience can be helpful to every injury victim who applies for a settlement loan with us. We strive to be transparent with our clients because we want to relieve financial distress.
Interest Rates vs. Annual Charges
When you apply for a settlement loan in Nevada, you may notice that some lenders charge an annual interest rate on your loan while others use an annual flat fee. Interest rates can be tricky and may put you in debt once your settlement is finalized. Nevada law caps interest rates and fees at 40 percent.
At Money First Lending, we charge an annual fee because it’s easier to understand for clients and can cause less uncertainty.
Eligibility for Pre-Settlement Funding
Pre-settlement funding companies in Nevada determine loan eligibility on a case-by-case basis. Although we can lend money for various case types, we want to make sure your lawsuit isn’t too risky. Your case must have a strong chance of winning or settling to receive a settlement loan.
You should have evidence to support your case. The defendant you’re suing (or their insurance company) should also be able to pay you. As long as we believe you have a strong chance of receiving a settlement, we’re likely to approve your application.
Pre-Settlement Funding Company Application Process
To apply for a Nevada pre-settlement loan, you can fill out our simple online application. The application requires a minimal amount of information about you, your lawsuit, and your lawyer. We’ll then contact your attorney and discuss your case in greater detail. Your lawyer must be on board with the settlement loan process because they’ll be involved in the agreement.
If you’re approved by our pre-settlement funding company, you can receive cash in hand in as little as one day. This money can help you pay your medical bills and make up for the wages you’ve lost from being out of work.
Nevada Pre-Settlement Funding Company FAQ
If you’ve never used pre-settlement funding before, then you’ll likely have questions about the process. We’ve answered some frequently asked questions below to get you started.
Can I apply for settlement loans from more than one lender?
If you’re unsatisfied with the amount of money you’ve been approved for from one lender, it’s possible to get more than one settlement loan in Nevada. One lender may be more lenient when it comes to assessing your level of risk. However, you will look more risky as an applicant if you’ve already borrowed money for your settlement.
How much money can I get in advance for my settlement?
Nevada caps settlement funding at $500,000 per claim.
Can I get a Nevada settlement loan for a workers comp claim?
Yes. If you have a pending workers comp claim and need money to pay your bills now, you can use pre-settlement funding to keep you afloat while you wait for your employer’s work comp insurance company to come through with the payment.
Reach Out to Our Nevada Pre-Settlement Funding Company
We want to help you through this hard time in your life, and our local knowledge differentiates us from our competition. Each company offers different benefits. When you’re struggling financially, the most important thing is to get a Nevada settlement loan quickly with as few fees and hiccups as possible.
Choosing between Nevada pre-settlement funding companies can be difficult. We know that. But at Money First Lending, our goal is simply to provide quick funding from a company you can trust. We communicate our fees up front so you’re never surprised later on. If you’re ready to apply for pre-settlement funding, call 702-623-3333 or apply with the button at the top of the page.