A pre-settlement funding application is a way for you to access the money you’re entitled to as the result of your injury settlement. With this alternative, you don’t need to wait for the money from an insurance company, bank, or other sources.

You can file a pre-settlement funding application with your attorney, which will be processed by a third-party company that charges an upfront fee. The fee is usually 10 percent of what you’ll eventually receive.

Once this fee has been paid, the third-party company will manage the distribution of funds on your behalf – meaning that it will distribute your settlement payments following a pre-authorized payment plan over a set number of years.