A car accident in Georgia can be financially overwhelming, but pre-settlement funding provides cash based on your expected settlement, helping cover essential costs while you wait for your lawsuit to resolve. Unlike traditional lawsuit loans, pre-settlement funding is based on your expected Georgia auto accident settlement, allowing you to cover your expenses without added financial strain.
Find out everything you need to know about pre-settlement funding for auto accident cases in Georgia, from how it works to whether it’s the right choice for your situation.
What Is Pre-Settlement Funding?
Pre-settlement funding provides much needed cash to plaintiffs awaiting a settlement in their personal injury lawsuit. Additionally, pre-settlement funding is a non-recourse obligation, meaning you only repay if you win your case; if you lose, you don’t owe anything.
Who Needs Pre-Settlement Funding?
Pre-settlement funding is a valuable option for individuals in Georgia who are struggling financially while waiting for their lawsuit to settle. For example, say David, a delivery driver in Atlanta, was rear-ended on Interstate 285, suffered a back injury, and totaled his car, leaving him unable to work. With mounting medical bills and rent due, he’s eligible to apply for pre-settlement funding to cover essential expenses, allowing him to focus on recovery while his attorney works towards a fair settlement.
How Pre-Settlement Funding Works in Georgia
The pre-settlement funding application process in Georgia is similar to applying for a loan in some superficial ways, but with significant differences: The process involves three main steps:
1) Requesting the funding, where you apply and provide case details
2) Receiving the funding, which is typically fast and delivered via direct deposit or check
3) Repaying the funding, which only happens if you win your case and comes directly from your settlement.
