Sustaining an injury often means your life is never the same. At the very least, you could be out of work and face years of paying off medical bills. While you have a lawyer working on securing a settlement, how will you get by in the meantime? One of the most practical solutions is to approach a lender who provides settlement loans. Here are five good reasons to apply for a loan today.
The bills are piling up
You had some savings set aside for a rainy day, and you have a fair amount of sick leave from work. Even so, keeping up with the bills are beginning to be difficult. There are the basic expenses like food and shelter to consider. If you have a car payment, that must be made even if you can’t drive right now. Payments on each of your credit cards must be made if you want to keep your good credit rating.
A settlement loan can provide the cash necessary to cover the monthly bills and keep everything up to date. Best of all, you don’t make payments on the loan until you actually receive the settlement. That means the loan doesn’t add one more obligation you have to manage each month.
The digital age has made financial lending online easy, and it’s now easier than ever to find and secure the right online loans for your needs.
There are treatments your insurance won’t cover
You need treatments that are not covered by your current health insurance. That often means having to pay all or at least a percentage of the cost in advance. Where will the money come from to cover those costs?
If you have a settlement loan in place, the funds can be set aside in an interest-bearing account. When and as necessary, you transfer a portion of those funds to your checking account and pay for those other treatments. Nothing could be easier.
You can’t work
The nature of your injury means you won’t be working for months or possibly years. Eventually, the assets you set aside for an emergency will be exhausted. How will you make ends meet once that happens?
Some settlement loan providers allow you to set up a series of monthly disbursements. In this scenario, you receive money from the lender every month for an agreed upon period of time. That effectively replaces the income once provided by your job and allows you to concentrate on getting well instead of trying to juggle the bills.
The settlement will take time
Few settlement lawsuits are settled quickly. It could take years before the matter is resolved. In the meantime, you need cash now. Lenders who offer settlement loans can provide that cash, assuming there is a reasonably good chance that you will win the lawsuit. Instead of having to wait for a judge to rule in your favor, you can have access to part of the funds right this minute.
You’re tired of worrying about finances
Dealing with financial issues while also trying to recover from the injury is beginning to take a toll. The worries are affecting the rate of your recovery and you know it. By securing a settlement loan, you can stop worrying about how you will pay the bills next month, six months, or a year from now. With a solid financial cushion, it’s easier to concentrate on your health.
If you have a personal injury suit pending, now is the time to apply for a settlement loan. Once the money is in hand, you can forget about other things and focus your attention on rebuilding your life and enjoying it as fully as possible.