How Do I Apply for Pre-Settlement Funding?

If you’ve been injured in a car accident, on the job, or in a slip-and-fall accident, your life can feel like it’s been turned upside down overnight. With medical appointments piling up, income on hold, and no clear end in sight for your personal injury lawsuit, it’s natural to wonder how you’ll cover your bills until your case settles.

Pre-settlement funding (PSF) provides you with a portion of your expected settlement before your case is resolved, so you can focus on recovery instead of financial stress. It gives you breathing room while the legal process runs its course.

This guide breaks down the essentials of pre-settlement lawsuit funding to help you decide if it’s the right option for your situation and give you a clear idea of what to expect if you move forward.

Types of Cases Eligible for Pre-Settlement Funding

Pre-settlement funding is available for a variety of case types, including:

• Car accidents – If you were injured in a car accident caused by another driver’s negligence, funding can help cover expenses while you wait for your case to settle.
• Motor vehicle accidents – Beyond car crashes, cases involving motorcycles, trucks, or pedestrians struck by vehicles may also qualify for funding.
• Workers’ compensation – Injured on the job? Pre-settlement funding can ease the financial burden while you recover and wait for your benefits.
• Premises liability (slip and fall) – If you were hurt due to unsafe conditions on someone else’s property, you may be eligible for funding.
• Medical malpractice – These cases are often complex and lengthy and funding helps cover living costs while pursuing fair compensation for medical errors.
• Wrongful death – Families facing the devastating loss of a loved one can access funding to manage expenses while seeking justice through the legal system.

How Pre-Settlement Funding Works

Getting pre-settlement funding is a simple, streamlined process designed to get you the support you need without unnecessary delays. Here’s how it typically works:

1. Application

If you have an active personal injury case and are represented by an attorney, you may qualify for pre-settlement funding. The process begins by submitting a short application to the funding provider. Your eligibility is based on the specifics of your case, such as its potential value and chance of success.

Know What the Funding Company Will Look For

Unlike a personal loan or payday loan, pre-settlement funding isn’t based on your financial status or employment status. That’s because it isn’t a loan.  Approval heavily depends on the strength of your legal case and the likelihood of a settlement.

This means when the pre-settlement funding company is reviewing your application, they need a clear picture of:

• What happened (and when)
• Who’s at fault
• How you were injured or suffered losses
• What your attorney has already done to move your case forward
• The estimated settlement amount based on your damages and legal standing

It is important to first discuss with your attorney whether pre-settlement funding is the right choice for your case.

2. Case Review

The funding company collaborates with your attorney to review your case. They’ll look at the strength of your claim and the expected settlement amount before deciding how much funding you may receive.

3. Approval

Decisions are often made quickly, sometimes within one or two business days. Oasis Financial prioritizes efficiency so you can access funds when you need them most.

4. Agreement

If approved, you and your attorney will review and sign a funding agreement that outlines the terms, including repayment.

5. Receiving Funds

Once the paperwork is complete, funds are disbursed through direct deposit or check. With options like same-day funding, you can cover urgent expenses right away and focus on your recovery while your case moves forward.

This isn’t like a personal loan where repayment is required no matter what. Done as a non-recourse purchase of your potential settlement proceeds, it provides funding based on your expected settlement so, if you lose your case, you don’t owe the funding back.

Navigate Common Hurdles

While the process is straightforward, some applicants run into roadblocks. Here are some tips for avoiding them:

• Attorney response time – Your attorney’s cooperation is crucial. Give them a heads-up so they’re ready to respond to the funding company’s inquiries promptly.
• Complex cases – Cases with multiple parties or unusual circumstances may require extra review. Be prepared for the process to take slightly longer.

Are You Eligible for Pre-Settlement Funding?

Before jumping into the application process, it’s important to understand the basic requirements for pre-settlement funding. Not every case or plaintiff will qualify, and state laws may even prevent certain applicants from moving forward.

• Check state restrictions – Each state has its own rules regarding pre-settlement funding. In some states, pre-settlement lawsuit funding may be limited or not available at all. If you live in a state where regulations prohibit this type of funding, you won’t be able to apply even if your case would otherwise qualify.
• Attorney relationship – You’ll need to have retained an attorney for at least 30 days before you can apply. This ensures your case is moving forward and gives the funding company enough information to evaluate your claim. If you’re still looking for legal representation, you’ll need to wait before applying.
• Be prepared to answer questions – As the plaintiff, you don’t need to know every legal detail, but you should have a general understanding of your case. The funding company may ask basic questions, such as:
  • What happened and when?
  • Who do you believe is at fault?
  • What injuries did you sustain?

Being able to answer simple questions like these helps the funding provider evaluate your application quickly and keeps the process moving smoothly.

Quick Qualification Checklist

Here’s a simple way to see if you’re likely to qualify for pre-settlement funding:

• Do you have an active personal injury case?
• Have you retained an attorney for at least 30 days?
• Is your state one where pre-settlement funding is permitted?
• Can you provide basic information about your case and injuries?

If you can answer “yes” to all of these, you’re likely on the right track.

Work with Oasis Financial

By understanding what is required throughout the application process, you can speed up approval and get the financial relief you need. Your attorney and the funding company are there to guide you every step of the way. When comparing pre-settlement funding companies, go with one that provides a straightforward experience with fast approvals, no hidden fees, as well as human-centered service—like Oasis Financial.

Learn more about pre-settlement funding and explore our FAQs. When you’re ready, start the quick online application.

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