Qualification # 3: Ability to Pay
This is the most direct, and arguably the easiest-to-determine variable when deciding if you qualify for a pre-settlement legal funding. Having said that, it is also the most critical qualification—the ability of the defendant to pay for any damages awarded in a legal settlement.
Quite simply, if an accident causes significant property (or other) damages, but the responsible person has no money (or insurance) to pay for the damages, then there is not much hope to collect. If there is a low chance of collecting on any award, then you would not qualify for a legal funding. The easiest example would be a car accident with an uninsured motorist.
If you get hit by a car and the person that hit you doesn’t have any insurance, then the odds of collecting any sum of money to pay for your car repairs and/or doctor bills aren’t very high and therefore, unless they were wealthy enough to pay for the damages out-of-pocket, your application for a legal funding would be denied.
These three qualifications are at the heart of any decision to fund a personal injury case or not, however there may always be an exception to the rules. At Nimble Funding, our team can quickly determine if you do qualify for legal funding.
While we usually need to speak with your attorney to confirm the details, in most cases, we can learn the basic facts of your case during our initial conversation.
If you are waiting for your lawsuit to settle but need money now to help with the monthly bills, give us a call.
If you’re unsure if you qualify after reading this, give us a call anyway. Our number is 1-888-522-8539. We are happy to discuss your situation with you. The phone call is free and it is also free to apply, so don’t rule yourself out without first talking to us.
Please note that the foregoing is not intended to be and should not be construed as legal advice or as an assessment on the merits of your case.