What Are The Key Factors To Consider When Applying For Loan Settlements?

If you put yourself in the lender’s shoes, you’ll find that it’s necessary to ask yourself what it is for which you would be looking prior to loaning someone your money. You should recall that in almost all cases, the lender will have never met the applicant, and must rely solely on the documents submitted for review.

Of course, the application is a critical component in obtaining your loan settlement! Frequently, individuals submit partially-completed applications, and contact us asking why they have not obtained the loan settlement requested. In reality, if you’re not willing to complete a one-page application, it is unlikely that you’re serious about obtaining the funding that you identify.

You need to grab the lender’s attention right out of the gate! If you’re able to do so quickly, your application will be well on its way to being processed and funded. However, if you fail to do so, you greatly minimize the likelihood of success in obtaining the loan settlement that you seek. The lender wants to approve your request, but must submit your claim to underwriters for approval. Those underwriters will scrutinize your claim very carefully prior to issuing non-recourse funding.

I’ve provided two cases for which individuals went to the trouble of completing and submitting applications, ostensibly to obtain loan settlements. Once you review these cases, which one, if either, would you consider the likely candidate to receive funding?

The first one is a Good Will Store Incident: The client informed us, “I was at a Goodwill store, sorting through the clothes when a coat hanger jumped out and smacked me on the bridge of my nose.”

The second case deals with the motorcycle incident. The applicant informed us, “I was on a motorcycle. The car driver was traveling in the opposite direction and turned left in front of me. The car driver was cited for failure to yield.”

Would you be surprised to learn that the Goodwill Store incident, although humorous, did not receive funding? Would you be surprised to learn that the motorcycle incident-applicant was funded? I suspect that we would all agree on the candidate to whom we would issue a non-recourse loan settlement.

The moral of the story is, prior to submitting an application to obtain a loan settlement, ensure that your case is meritorious. If you’re only able to make a “red-faced” argument to support your case, your chances of obtaining a lawsuit loan are slim-to-none!

Tags: Finance, lawsuit loan, loan settlement, settlement loans

Category: Finance