Is a pre-settlement advance a good idea? Will it hurt my case?
A pre-settlement advance on your accident is designed to provide plaintiffs with a little cash to get by while their attorney fights for the compensation they deserve. For many people involved in an accident, injuries force them to miss work and thus lose income. Also, often accidents result in car repair costs, medical bills, transportation expenses to see a doctor or rehab facility and others.
If you are struggling to pay your bills, buy groceries or take care of your family because your accident has really screwed up your life, taking an advance on your case can be a life saver. There is no denying that, depending on the company you choose to use, a pre-settlement advance can be expensive. However, it is important to consider that if you were forced to settle your case pre-maturely because you cannot afford to wait 1-2 years for the full value, that loss will be far greater than the cost of taking an advance to keep you above water while you wait.
Taking an advance will not hurt your case or personal finances in anyway. The fact that you have received an advance is not reported to any credit rating agencies.