The following piece is a contribution by Charles W. Price, CEO of Capital Now Funding, LLC.  The pre-settlement legal funding industry is often viewed in a negative manner by those outside of the industry, because settlement advances charge higher interest rates than traditional lending methods. The truth is, that without pre-settlement legal funding, those personally injured in accidents that were no fault of their own often do not have the financial means to properly care for themselves following a personal injury accident.  Therefore, pre-settlement legal funding plays a vital role by providing much-needed financial assistance for personal injury victims when they have no other options available to them. Added Expenses and Zero Income To fully understand the situation personal injury victims are going through, it is helpful to see things from their point of view. These victims have been injured due to another person’s negligence, to a degree in which they are unable to work and create income to support themselves and their families. In addition, they are now accumulating further expenses as a result of those injuries. The cost of physical therapy, follow-up doctor visits, and surgeries, can total thousands of dollars of additional costs for which the victim is now responsible. Even if the injured victim has health insurance, copays and deductibles are often more than they can afford in the event of an unexpected accident. Making matters worse, this costly ongoing care can be for an indefinite period of time, leaving injured victims with medical bills totaling more than they can afford.  As a result, injury victims are then faced with the choice of going into debt in order to receive proper healthcare or forgoing treatment altogether. Recent studies show that 69% of Americans have less than $1,000 in savings, and 45% of Americans have $0 in savings. Roughly 61% of Americans live paycheck to paycheck and do not have enough money to pay their bills if they cannot work for one week.  Injured victims seeking pre-settlement legal funding often face months of time away from their income. Data also shows that individuals with less savings statistically have the lowest credit scores in the nation, making options to borrow money from traditional methods such as a bank loan nearly impossible. Why Seek Pre-Settlement Legal Funding? Considering a typical personal injury victim’s situation and circumstances, pre-settlement legal funding is likely the only option available.  Also considering the additional benefits pre-settlement funding provides consumers, it is also a better option.  Most pre-settlement funding companies provide funding that is non-recourse, meaning that clients receiving funding only have to pay back the money advanced if a settlement is reached, and if there are sufficient funds remaining after paying off all other liens and attorney fees. The pre-settlement legal funding company takes on this risk as part of the funding agreement, which is advantageous to the personal injury victim. Selecting the Right Pre-Settlement Company Can Save Thousands of Dollars The most important aspect for an injured victim to consider when seeking pre-settlement funding is the wide variety of interest rates offered by different funding companies.  Many companies charge interest rates that compound or escalate at varying time intervals.  Depending on how long it takes the case to settle, the payoff can be considerably more than the cash advanced. This is why it is extremely important for the injured victims and their attorneys to select a pre-settlement funding company that results in the client receiving the most money possible when the case is settled. At Capital Now Funding, we offer pre-settlement funding for a one-time fixed fee with zero interest. Because our funding fees are fixed, our clients’ payoffs are fixed, no matter how long it takes their legal claim to settle. This keeps things simple and eliminates the possibility that a client’s payoff will increase. Choose Your Pre-Settlement Funding Company Wisely There are a lot of great pre-settlement funding companies to work with, but it is up to the client and his or her attorney to select the pre-settlement company that is in the client’s best interest. Because this choice can affect the amount of money the client walks away with upon settlement, we recommend thoroughly researching the chosen funding company and reading through as many reviews as possible before signing any agreements. Making a wise choice when partnering with a funding company will keep fees and interest low, and ultimately increase the amount of money a client receives at the end of a legal claim. About the Author Charles W. Price is Chief Executive Officer of Capital Now Funding, LLC, a nationwide provider of pre-settlement funding for personal injury cases. Capital Now Funding provides industry leading Fixed Fee funding with zero interest, which protects clients and preserves their ultimate settlement amount. For more information, you can contact Charles at cwprice@capitalnowfunding.com.