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Post Settlement Loans Guide

How Long Does A Settlement Check Take To Arrive?

You have finally reached a settlement agreement in your personal injury lawsuit and you want to breathe a sigh of relief and put it far behind you. There’s excitement from winning the case and solace in knowing you will soon have the settlement money that you need to pay off your bills. But then, for reasons beyond your control, the settlement check is delayed. It is so frustrating after all this time to be so close but not be able to get your money.

What is the settlement check timeline, and how long does a settlement check take to clear? While some settlements may be paid out 3 weeks after settling, it can take up to 6 weeks or longer. That’s too long for you to wait when you have pressing things you need the money for.

Here are some reasons why the money may be held up:

  • Your lawyer may have presented you with the settlement agreement and you have not yet signed it.
  • There can be delays in the claim adjuster’s office such as personal reasons that are preventing them from getting back to you.
  • Your lawyer may have received the check but is busy with another case.
  • There may be liens on the money i.e., the hospitals that you owe money to from medical bills want to be paid and requested a hold on your money.
  • There may be a bank hold preventing the money from clearing.

While some of these reasons mean the money will be delayed, rest assured that your competent lawyer will sort everything out and you will end up getting the money. Be sure to call your lawyer if you are uncertain about what is going on.

But in the meantime, instead of waiting to get your settlement check, you should consider a post-settlement loan.

What Is Post Settlement Funding?

Post settlement funding is a way to get a loan while waiting for a settlement check to come. A post-settlement loan is very similar to a pre-settlement loan in that it allows you to get a non-recourse cash advance on a lawsuit settlement with same day funding, so you get the money you need quickly. A non-recourse loan means that there is no risk to you, and you will not have to repay the loan yourself. A settlement financing company like Delta Lawsuit Loans will take on all the risk to make sure that the defendant or the insurance company pays out the loan, while you get the money you need right away.

To qualify for a post settlement loan, you need to have a lawyer representing the case. There are many types of cases that will qualify for a post settlement loan, such as: auto accidents, personal injury lawsuits, any cases involving defective drugs or medical devices, or workers compensation related cases and others. Once your lawyer obtains a settlement offer it will make the post settlement loan process extremely easy. You will receive a loan based on the settlement amount that you are expecting.

You will need all the documentation to apply for the loan. The settlement agreement letter from your lawyer, and a copy of the information that was sent to the insurance company with the amount they will need to pay out. The post settlement loan process is mostly handled by your lawyer, and you can tell us how much money you are requesting, either all or part of the settlement amount. Be aware that you should only request the amount that you need right now, because you are paying interest on the money. There will be interest and fees associated with any loan, but with post settlement loans the interest will be lower because there is less risk involved.

Settled Case Funding Rates

The fees and interest rates you can expect to pay on any loan will vary by settlement loan company and based on the facts of the case on a case-by-case basis. Some shady loan companies charge very high fees and a lot of interest, as high as 50%. On the lower end you will see interest between 8-10%, but you can expect to pay fees that are as high as 12-15% of the settlement funds. Reputable post settlement funding companies like Delta Lawsuit Loans will charge a low interest rate of between 1-3%. The reason is because we are not out to take all your money, we want to help you get the money you need.

The difference in fees and interest rates between a post settlement cash advance and a pre settlement loan is significant. To understand this, you’ll need to understand the risks involved.

When first applying for a lawsuit loan when your case is just starting out, you may apply for a pre-settlement loan, which we also handle. There are some risks involved such as you might not win the case or you may not get the full amount of what you expected to get. For that reason, the interest rates will be higher. Greater risk equals higher interest rates.

However, with a post settlement cash advance, the risk is much lower because you already have the settlement agreement in your hands and are just waiting for the check to come. We know the old joke that the “check is in the mail”, but we are confident in this case that you’ll get the settlement money. So confident, in fact, that we are willing to take the risk of advancing you the money and taking on the burden of collecting it ourselves. What does this mean for you? That you can get the money you need right now.

How Fast Will Post Settlement Loans Take?

To find out if you qualify for post settlement funding, all you have to do is apply. If the details of your settlement agreement are in order and you have all the information lined up from your lawyer, you could get the post settlement case funding in as little as 24 hours, and as fast as the same day you apply.

We offer 24 hour settlement funding because we know how desperate you are to receive the cash you need and have been waiting for in order to pay your bills, household expenses and any other pressing bills that you need to take care of.

We understand how important it is to simply receive the money that you are owed so you can move forward. As hard as it is to wait for the settlement money from your personal injury lawsuit to come through, we want you to know that a post settlement loan is your best option right now to help you get the money, fast. You don’t have to tell us what you will use the money for, that is entirely up to you.

Once you are approved for the loan you will receive the money right away. This will ease the stress that has been sitting on your shoulders since you began this lawsuit, and if we can help alleviate even some of that stress, we are happy to do so. Please reach out now and let us know the details of your case so we can help you get the money you need today.

Over his career, James has successfully built and managed several of his own businesses, sold his company, managed hundreds of employees, operated across the United States and Europe, and completed financings for his own companies in excess of $400 million dollars.

James investment and operating experience includes co-founding one of the largest pre settlement companies, a special purpose fund that advanced money to litigants against pending legal claims. He had over $300 million across thousands of case investments, collections, and receivables, a staff of almost 50 employees, operating in 40 states. James built, assembled, and motivated a team of who became the leaders in their field of pre settlement funding. The company offered multiple solutions include attorney funding, plaintiff advances, pre settlement and post-settlement funding, and surgical and medical financing, which enable his clients to receive funds for their case, while the await their settlement.

After selling his business, James now operates a consulting firm which specializes in the lawsuit loan industry. He advises companies how to structure their financing, run their operations, deal with legal issues and collecting on their lawsuit loans. In addition to his consulting firm, James teaches business ethics classes and a local university.

James enjoys teaching, reading, writing and spending time with his wife and two boys.