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Better Funding for Your Lawsuit Settlement

Lawsuit settlement funding can be hard to find, and once you've won the lawsuit, a structured settlement may make it difficult for you to pay your lawyer, back medical bills, and even daily living expenses. When you've been injured by another party or a company, the bills add up faster than you can possibly pay them.

But there's a great solution available to you. You can get your structured settlement turned into a lump-sum payment, often by the same companies who helped you fund your lawsuit to begin with. It's not free, but if you need money right away, it might be a good option for you.

Lawsuit Settlement Funding and Lump Sums

Dozens of companies have money to loan you for the different times during your lawsuit you need cash. They can provide pre settlement funding to you during your lawsuit, for the needed cash infusions at those times you run out of money. And they can convert your structured settlements into lump-sum payments with lawsuit settlement funding. For all of these services, they will charge a fee, taken directly out of your settlement; but they are also able to provide you with cash when no one else can.

Using cash advance companies and other funding for your lawsuit settlement can be expensive. Different companies charge widely different rates for their services. When you choose one, never go with the first company; instead, look at several different funding companies, really do the math on their fees, and go with the best deal for you. Remember, monthly interest fees can add up to much more than a flat rate; and fees charged on a lump sum payment, depending on how they're figured, can vary widely. Always read the fine print in your contract. And know as much as you can about how lawsuit settlement funding works. The American Bar Association is very concerned about how lawsuit settlement funding is used to fund lawsuits and how they affect legal clients, as well.

You don't have to take out your entire settlement as a lump sum; instead, you can convert only a portion of it, and continue receiving the rest as an annuity or monthly payment. This is often a great choice, as it allows you to only take the cash you have to have now, pay fees on that, and continue receiving annuities when you really need them. Whatever your choice, make sure it's the one best for you, and not one that you've been pushed into.

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