Archive for the ‘Getting Back On Your Feet’ Category

Concerned About a Lawsuit Ruining Your Credit?

Friday, September 30th, 2011

Lawsuit Funding can help you pay bills so your injury doesn’t kill your credit score.        Avoid bad credit during lawsuit

Are you concerned about the effect a reduction in income could have on your credit score if you’re unable to pay bills on time while waiting for your lawsuit to settle? Are you already late on payments to creditors and looking for a way to avoid defaulting, or possible repossession? If so, you may be a good candidate for litigation funding to cover your bills while you wait for the completion of your case.


A poor credit score can take a major toll on your financial well-being for years to come, making it more difficult to obtain credit for a vehicle, home purchase, or household loan; and making every dollar you borrow more expensive due to a potentially increased interest rate on your debt. When faced with this situation during the process of a lawsuit, you have several options available to you. Here are several steps you can take immediately to get back on track, and keep your credit score in check:


  1. Contact creditors to discuss options
    1. Some lenders may allow you to put payments on hold for a short period of time, or even cancel your accounts to secure a lower interest rate.
    2.  If you haven’t contacted creditors yet, this is a good first step to getting back on track.
  2. Pay at least the minimum amount due on all debts
    1. This is probably not the time to be concerned with paying larger amounts to reduce your overall debt. If you’re having financial trouble, see if you can adjust some household expenses to at least pay the minimums due on all accounts.
  3. Consolidate debts where possible to reduce monthly repayment expenses
    1. You may be able to transfer credit card debt to a lower interest card, or consolidate student loan debt to get a lower payment and fewer payments due.
  4. Look into presettlement finance options to get cash now
    1. If you’re unable to make ends meet, and unable to pay the minimum amounts due to creditors while your lawsuit continues, then you should review your options for lawsuit financing. This can provide much-needed support to help keep your bills, and credit score, in check while you navigate through your case. Contact a representative at PSFinance today to discuss your options.


Car Shopping? Should you Buy Pre-Owned or New?

Thursday, November 18th, 2010
Aerial Shot of Car Buyers Chinese Shopping Mall

Credit: Ivan Walsh

If you’ve recently experienced a car accident, you may be in need of new vehicle to help you get back on your feet, back to work, and back to your daily life. But if that insurance reimbursement check isn’t matching up to the sticker price on a new set of wheels, you may want to take another look at the “Certified Pre-Owned” options available. Here’s why:

1) You’ll pay less for close to the same quality as a new car.

2) The dealership will generally offer a full certification inspection and warranty.

3) You may pay less for insurance & taxes.

4) You’re pre-owned car may have a very similar look and feel to the newest model on the market.

5) That “new car smell” doesn’t last as long as the higher payments on the current year’s model.

The caveats?

While there are many benefits of purchasing a new vehicle, there are also several limitations, so you’ll want to weigh the costs and benefits against your own personal situation before deciding. For instance, the warranty you’ll likely receive with a pre-owned vehicle will likely be more limited in length and coverage than with a new model. And if new features were introduced in later models, you likely won’t have access to those.

But for the most part, a Certified Pre-Owned car can be a great option to save costs while ensuring that you have a safe, reliable means of transportation to get back to your routine after an accident.