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5 Questions You Should Ask When Looking for a Lawsuit Loan

Lawsuit Loans are also called pre-settlement loans, legal funding, and cash advances. They were developed to help plaintiffs who do not have the financial means to get by for the duration of their lawsuit. Most people do not stand a chance against large corporations, who with their robust financial means will try to drag the legal process for months to even years. Whilst you can be struggling with day to day expenses, you might feel pressured into taking an earlier settlement. Therefore, Tribeca Lawsuit Loans will support you through this financially challenging time with a pre-settlement loan, so you can wait for the settlement you are entitled to. 

If you are looking around for a pre-settlement loan to help you bridge the financial gap throughout court proceedings. Ask yourself these couple questions to make sure you get a reputable legal lender. 

1. What can I spend it on? 

There are no restrictions on how you can spend your pre-settlement loan. These cash advances are designed to help you with living expenses, extra medical bills, last month’s electricity bill, missed mortgage repayments, or any extra financial stress you are experiencing for the entire duration of your lawsuit. 

2. What happens to my Lawsuit Loan if I lose my case? 

Funded Lawsuits by default mean that you have a strong case, as a legal financier has faith that your case will reach a successful settlement. However, in the slight chance that you do not win because of unforeseen circumstances, you will not be obligated to repay the lawsuit loan as they have a non-recourse structure, which means you are not legally liable to repay the lawsuit loan in case you lose, making it 100% risk-free

3. Do lawsuit loans have fees? 

Lawsuit loans are designed to alleviate the financial stress of the plaintiff for the entire duration of the trial. Therefore, there are no upfront costs for pre-settlement loans. Lawsuit Loan companies make money from the interest charged on the loan amount, which is repaid from the settlement when your trial concludes successfully. 

4. How fast can I get a lawsuit loan? 

From point of approval to getting the cash advance to you can take up to 24 hours. Understanding that financial needs can be imminent, legal lenders have designed quick and streamlined application processes. As soon as all the paperwork and evidence that supports your case has been received, a legal lender can approve your pre-settlement loan application and send you the cash advance in as little as 24 hours. 

5. Do You Need a Lawyer? 

To be eligible for a lawsuit loan, or a pre-settlement loan, you must already have a lawyer who is actively working on your case and has already done the necessary groundwork to get the ball rolling. This is because to support your lawsuit loan application, a legal lender will request a lot of documentation that only your lawyer can take care of. 

Start the Application Process 

Are you finding it difficult to make ends meet at the end of the month while waiting for a settlement from a pending lawsuit? Tribeca Lawsuit Loans will give you the peace of mind and support you for the entire duration of your trial. 

Give Tribeca Lawsuit Loans a call on 866-388-2288 or fill out the contact form online. 

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