Is getting a cash advance from a lawsuit the smartest way to go?
Danielle asked:
I am in need of $$$ quickly. Can't get a new home loan because my name is still on the house my x and I built. I do have a pending lawsuit and I want to know if anyone knows if borrowing against my settlement would be a good option. and i would really appreciate any suggestions on which company is the best one to contact.
Cash advances are NEVER a good idea because: a) Your interest rate will be through the roof, b) no lender in their right mind will give a loan on a "pending" lawsuit settlement, and c) what happens if your lawsuit is stuck in the courts for years…or what if your do not get your settlement at all? You will still be on the hook for the advance and now you are worse off than before.