Frequently Asked questions

Pre-settlement funding differs from traditional loans in several ways. Firstly, it does not require a lengthy approval process or a loan application. Instead, the funding provider evaluates the merits of the case in collaboration with the applicant’s attorney. Secondly, it is not repaid through monthly installments or upfront fees. Repayment is contingent upon a favorable case outcome or settlement. If the case is unsuccessful, the applicant is not obligated to repay the funding received.

Yes, pre-settlement funding is considered a risk-free option for applicants. Since it is not repaid in the event of an unfavorable case outcome, applicants do not carry the risk of accumulating additional debt. The repayment is solely dependent on the success of the lawsuit or settlement.

Guardian provides clients with risk-free, non-recourse loans. In other words, Guardian invests in the outcome of your case, only recovering their payments if the result of the case is favorable.

The application process for pre-settlement funding is designed to be quick and efficient. After submitting the application, the funds can often be disbursed within 24 hours. The exact timeline may vary depending on the complexity of the case and the cooperation between the funding provider, the applicant, and their attorney.

Pre-settlement funding can be applied to various expenses that emerge prior to reaching a settlement. These expenses can encompass medical bills, everyday living costs, rent or mortgage payments, transportation expenses, and any other financial obligations that require attention during this critical period.

Repayment for pre-settlement funding occurs when the case reaches a favorable settlement. The funded amount, along with any applicable fees or interest, is typically repaid directly from the settlement proceeds. The repayment terms are agreed upon in advance and outlined in the funding agreement.

Pre-settlement funding offers several advantages over traditional lawsuit loans. Firstly, there is no personal financial risk involved, as repayment is only required if the case is successful. Secondly, pre-settlement funding provides a transparent and straightforward process with no hidden fees or compound interest. Additionally, the approval process is typically faster, and the terms are designed to alleviate the financial burden on the applicant.

No, if the case is not successful and no settlement is reached, the applicant is not obligated to repay the pre-settlement funding. The funding operates on a conditional basis, ensuring that repayment is only necessary in the event of a favorable case outcome or settlement.

Pre-settlement funding is primarily available for personal injury cases, such as car accidents, medical malpractice, slip and fall accidents, and product liability claims. However, funding options may vary among providers, so it’s best to consult with them to determine if your specific case qualifies.

When applying for pre-settlement funding, you will generally need to provide information about your case, including details about the incident, the parties involved, and any relevant supporting documentation. Additionally, the funding provider may require data about your attorney to facilitate collaboration throughout the funding process.

Absolutely. Your attorney plays a pivotal role in the pre-settlement funding process. They collaborate closely with the funding provider, providing essential case information, assessing the case’s strengths, and facilitating the completion of the funding agreement. Open communication among all parties involved is crucial to ensure a favorable outcome.

Generally, there are no restrictions on how you can use the funds obtained through pre-settlement funding. You have the flexibility to allocate the funds towards various financial needs, such as medical expenses, living costs, or any other pressing financial obligations. However, it’s advisable to consult with your attorney or the funding provider to ensure compliance with any specific requirements or guidelines.

No, unlike traditional loans, pre-settlement funding does not heavily rely on your credit score or employment status for eligibility. The primary consideration is the strength and potential value of your case. The funding provider evaluates the merits of the case and the likelihood of a favorable outcome rather than focusing on personal financial factors.

The amount of pre-settlement funding you can receive depends on the anticipated value of your eventual settlement. The funding provider will assess the merits of your case, including factors such as liability and damages, to determine the funding amount you qualify for. Typically, it is a percentage of the expected settlement, which can vary among providers.

In most cases, having a traditional loan does not disqualify you from applying for pre-settlement funding. The funding provider will evaluate your case independently and assess your eligibility based on its merits. However, it’s important to disclose any existing loans or financial obligations during the application process to ensure transparency.

Pre-settlement funding is available in many states, but the regulations and availability may vary. It’s important to consult with a reputable funding provider to determine if pre-settlement funding is available in your state and complies with local regulations.

Yes, you can still apply for pre-settlement funding even if you have received a settlement offer. The funding provider will evaluate your case and the terms of the offer to determine if funding is still appropriate and beneficial for you. However, it’s important to review the terms and conditions of the funding agreement carefully to ensure it aligns with your settlement offer and does not create any conflicts.

To initiate the pre-settlement funding application process, it is advisable to contact a trusted funding provider like Guardian Funding LLC. They will provide guidance throughout the application process, gather essential case information from your attorney, and assess your eligibility for funding. To get started, it is recommended to reach out to them directly or visit their website for more information.