Categories
- Arts & Entertainment
- Business
- Communications
- Computers
- Culture & Society
- Disease & Illness
- Fashion
- Finance
- Food & Beverage
- Health & Fitness
- Hobbies
- Home & Family
- Home Based Business
- Internet Business
- Legal
- Pets & Animals
- Politics
- Product Reviews
- Recreation & Sports
- Reference & Education
- Religion
- Self Improvement
- Shopping
- Travel & Leisure
- Vehicles
- Writing & Speaking
Information
Personal Injury Settlement Loans
Submitted: 2007-01-17 16:16:43
Print this article | Tell a friend | For publisher |
Many victims of personal injuries cannot afford the expenses involved in litigating for an injury settlement, even though they may have a genuine case. There are two kinds of personal injury settlement loans. The first are loans based on a collateral, and the second are non-recourse loans given by injury settlement lawsuit financing companies.
The first kind of personal injury settlement loans are forwarded by credit lending companies on some sort of collateral like property, moveable/immoveable assets or bank balance. The drawback to this method of funding is the high rate of interest, as well as a heavy financial burden on the plaintiff should he lose the personal injury settlement lawsuit.
The second kind of personal injury settlement loan is advanced by financing companies on a non recourse basis. This means that if the plaintiff wins the case, he or she will be able to repay the loan from the compensation amount won. But if the plaintiff loses, then the financing company cannot recover any money that was advanced. During the trial, the finance company bears all costs including medical bills, transportation and living expenses and lawyer’s fee.
The fees for the non recourse funding tend to be high, since the financing firm is taking a risk advancing a loan that will not be returned in case the debtor loses the lawsuit. It is therefore advisable to choose a financing company carefully, and reach an understanding beforehand regarding amount to be paid, method of repayment, etc. The company may request a one time payment after a suit is won, or settle for repayment in installments. The fee structure varies.
Most financing companies hire experts who can predict the outcome of a personal injury settlement lawsuit. An unambiguous case of personal injury will be given a loan on easier terms. However, it is always a good idea to consult with your lawyer before going to any financing company.
Injury Settlements provides detailed information about injury settlements, burn injury settlements, hydrocodone injury settlements and more. Injury Settlements is affiliated with Debt Settlements.
Article source: Expert Articles
Most Recent Articles in Structured Settlements category
- Make the Smart Choice With Senior Life Settlement - By: William Regal
Senior life settlement is a perfect way through which senior citizens can get cash to fulfill their urgent monetary needs. - Qualified Life Settlement: Your Financial Guarantee for Life - By: William Regal
A life settlement transaction enables the life insurance policy holder to get ready liquidity simply by selling off the policy. - Play a safe side with the help of Life settlement broker - By: William Regal
Though one can get a reliable policy from any policy provider but getting a reliable broker is really tough, as a reliable life settlement broker can make best use of the benefits of policy. - Get insured through Coventry life settlement - By: William Regal
Coventry life settlement is a good option for senior citizens who want money against their life insurance policies for a better and secure future. - Life Insurance Settlements - Sale of a Life Insurance Policy - By: Paul Sherman
Life Settlements! Sale of a life insurance policy!! - Don't Be in Such a Hurry to Sell Your Structured Settlement - By: Frank ReCouper
Remember why your structured settlement was set up in the first place. Was it to pay for medical expenses on a ongoing basis or to take care of basic monthly living expenses? If the reasons your structured settlement was set up for don't exist any longer, then you might want to consider selling it. - Sell Lottery Payment for Lottery Lump Sum - By: Dave Vesh
So, Should You Sell Lottery Payment? Have you always been dreaming about buying those sports cars that sell for thousands of dollars? Did you think the lottery payment can fulfill your dreams? - Structured Settlement Annuity Sale for Lump Sum - Should You Get Your Cash Now? - By: Dave Vesh
What If You Do Not Want to Wait for Your Structured Settlement Money?When structured settlements are awarded from lawsuits such as product liability, personal injury, or accidents, in general an insurance company buys an annuity. This annuity pays a mixture of principal sum and an interest over an agreed period of time at a schedule that is agreed with the structured settlement payee. - Buyer Of Structured Annuity Settlement - How To Find the Structured Annuity Buyer That Suits You - By: Dave Vesh
Annuities are important and valuable policies for many senior citizens in the USA. Sometimes, however, any one of us may have need to plan for the future differently. Our plans may change, we may require cash fast and decide to sell the annuity or part of it for a large lump of cash. - Best Ways To Sell Annuities - By: Scott Walker
Do you no longer need consistent monthly payments and would instead prefer a lump sum? If so, then you should think about selling your annuity. Besides the reason I already mentioned there are several reasons why you would want to sell your annuity.