What is Pre-Settlement Funding:
Pre-settlement funding is a type of advance offered to you by Mayfield Settlement Funding company agree in exchange for a portion for the amount you receive when your claim is settled after judgment. In this case, you are not actually borrowing anything, it is your money and you all the options to receive it as soon as possible in your preferred manner. It is also a non-resource funding and the company offering the advance are willing to buy part of your future settlement’s proceeds. However, note that the expected outcome of your lawsuit claim is assessed by our underwriter so as to determine how much funds you receive in due time.
Why You need Pre-settlement funding.
Two things with lawsuits are that they are very expensive and time consuming to manage. Every plaintiff eagerly waits for their day in court which might take from months to years hence proving to be a long process. In personal injuries or losses, you might be limited to sustain your finances hence you require money to help sort out daily expenses such as rent and medical bills. Before you think about calling your friends or checking your credit card, take time and contact Mayfield Settlement Funding who will advise you on pre-settlement funding; if you satisfy their requirements you get to enjoy instant cash advances to cater for personal needs. It gives you some variety choices like you are now able to service your car loan, pay off your mortgage or even get yourself and a new car equipped with personal features thus you can travel to far places comfortably.
How is the Expected Settlement Estimated?
On application of a pre-settlement fund, the funding company has to first do an estimation of that gives the final amount or value of your settlement. Here the funding company has shown an interest to buy a portion of your lawsuit settlement and they first discuss the lawsuit with your attorney who provides more details about the case; with this information, it is possible to determine the most likely value the defendants will pay to you in future. Since the company is buying the claim, they have confidence it will settle so they go ahead and take the risks. If it occurs due to some reasons your lawsuit claim is not successful, the settlement funding company does not receive what they purchased in your claim.
Companies try to limit this risk as much as possible, but they will use risk to help them determine the amount they are willing to advance.
There are several things form the attorney that is considered in pre-settlement funding so as to estimate a good value for you: –
What does your attorney think they can settle your lawsuit for?
How strong does the attorney think the case is?
The estimated duration of the cases will take as per the attorney
How Many Funds Can You Get for Pre-Settlement?
At most times how much you are eligible to receive as pre-settlement funding depends on the earlier estimated value of your lawsuit. Right here at Mayfield Settlement Funding get to enjoy cash advances ranging from $500 to as much as $250,000 of which we take the level of your needs into consideration and the expected outcome of your lawsuit.
How Soon Can You Receive Pre-Settlement Funding?
At Mayfield, we understand your needs but we do not take advantage of them, thus we strive to get cash to you as quickly as possible. At the moment our representatives acquire the information they need for you and your attorney, then give you a quote of the pre-settlement funds we undertake to advance to you will only take 24 hours. Sounds great, right?
What follows is that we give you time to review the offer; once you accept the offer, we may request your attorney to provide additional information in regard to the lawsuit so that we finalize the cash advance in your favour.