CBC Settlement Funding is happy to work with clients in a variety of lawsuits. We find our clients most commonly are encountering legal cases surrounding:
- Motor vehicle accidents
- Personal injury
- Product liability
- Defective drugs
- Defective medical devices
- Medical malpractice
- Premises liability
- Worker injury and workers compensation
- Wrongful death
Should you decide to pursue pre-settlement funding, the process is simple:
- The pre-settling funding company you choose to work with will coordinate with your attorney to review your case.
- The pre-settlement funding company will submit a written agreement to purchase some of your settlement in exchange for an up-front payment to you.
- You sign the agreement with your lawyer.
- The company delivers the funds to your attorney’s office, who in turn will give you the payment.
Is Pre-Settlement Funding Right for Me?
Pursuing pre-settlement funding may not be the best choice for everyone. Before you make this decision, ask yourself some important questions:
- Does my attorney agree with my decision to pursue pre-settlement funding?
- What are the online reviews for the company I’m considering working with?
- Is my case “high risk”? This may affect fees.
- Am I able to secure funds in other ways, such as a private loan?
The Pros of Lawsuit Advances
Lawsuit settlements are valuable assets. If you need cash now to meet immediate financial needs, you may be eligible to receive a cash advance of up to $30,000 against your future structured settlement payments. If the case is settled in your favor, CBC Settlement Funding as the funder will reclaim this money, along with a fee for our services.
CBC Settlement Funding assumes a certain amount of risk in this type of transaction. A pre-lawsuit settlement transaction is classified as a “non-recourse arrangement.” This means if you are unsuccessful in your lawsuit, you do not have to pay back the cash advance and CBC Settlement Funding loses the lawsuit cash advance we paid you.
Some pre-settlement funding companies appear to offer the same benefits, but with strings attached. When you decide on a pre-settlement funding company, make sure to consider:
- How significant their fees are
- If their rates are capped
- If they require you to contribute to the funding up-front
- If they offer negotiation assistance in the case you are awarded a settlement that’s significantly less than expected
Depending on the nature of your lawsuit and individual circumstances, you may wish to look into other alternatives before deciding on a pre-settlement funding arrangement. Seek counsel from your attorney to discuss options that best suit your financial situation. Our staff at CBC can arrange pre-settlement funding within 3 – 5 business days if you choose this option. If for some reason you do not win your case, you will not have to pay back the money.