What documents do i need to get a personal loan

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What documents do i need to get a personal loan

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What documents do i need to get a personal loan

In exchange, you agree to pay the lender that sum of money (the principal) and a funding fee out of the proceeds of your settlement or judgment. Usually you don't have to make any payments before you settle the case or get a judgment. The lender gets paid from the proceeds of the lawsuit judgment or settlement.

The Cost of Borrowing Against Your Future Lawsuit Proceeds. The funding fee can run between 2 to 4 per month. That may sound like a reasonable amount, but it equates to annual percentage rates of 27 to 60 or more.

Considering that your lawsuit could take years to resolve, it is quite possible that you might pay back double or triple the money you borrow. Repaying the Litigation Funding Lender. The loan is paid from the judgment or the settlement funds after other expenses are covered.

What documents do i need to get a personal loan