At Tribeca Lawsuit Loans, we provide same-day lawsuit loans in Maine to help you get the financial support you need quickly.
We offer pre-settlement funding at competitive interest rates to meet the needs of those currently in plaintiff’s lawsuits.
Even though your lawsuit can take months or years to resolve, the unfortunate reality is that your bills often do not wait. While suffering from a loss of income, medical bills, legal fees, and more, you may find yourself increasingly pressured into settling for a lowball compensation offer after a personal injury lawsuit.
A Maine lawsuit loan is one way to combat this problem. With our legal funding of up to $1 million, you can replace your lost income, cover your bills, and give yourself peace of mind while your attorney fights for you.
Applications are free, and you can apply for free via our online application. There are no hidden fees or obligation.
What Is the Maine Lawsuit Loans Process?
You start the lawsuit loan process by filling out a free application on our website. As long as you are the plaintiff in a case, and therefore stand to receive compensation, you likely qualify. Cases we fund span the gamut from employment and labor law violations to car accident and personal injury lawsuits.
- Our Review: After receiving your application, our team will research your claim and contact your attorney for any additional information we need.
- Approval: We work as quickly as possible to approve your application and send paperwork regarding how much we can provide as a Maine settlement loan.
- Your Cash: After approval, we can have the money in your bank account in as little as 24 hours. Our same day pre-settlement loans ensure you get the funds you need without delay.
- Repayment: Once your lawsuit concludes, your attorney will receive a check from the opposing party, write us a repayment check out of that compensation package, and send you the rest!
Are Pre-Settlement Loans Legal in Maine?
Yes, pre-settlement loans are legal in Maine. According to MRS Title 9-A, Article 12, enacted in 2008, legal funding companies must register with the state. The statute also requires that lawsuit lending agreements be written clearly to ensure consumer understanding. However, Maine does not place any caps on interest rates for these loans.
Cases We Fund in Maine
We at Tribeca provide settlement funding for a wide range of cases in Maine. Our legal funding company offers lawsuit cash advances to help plaintiffs navigate the Pine Tree State’s unique legal landscape.
In Maine’s mix of coastal areas and rural landscapes, motor vehicle accidents are unfortunately common. We offer litigation financing for cases involving:
- Multi-vehicle crashes on coastal highways
- Logging truck accidents on rural roads
- Tourist vehicle collisions in popular beach towns
- Pedestrian incidents in historic districts
- Bicycle accidents on scenic byways
- Snowmobile collisions in winter months
- Fishing boat-related accidents
- Interstate pile-ups during severe weather
- Moose-vehicle collisions on rural roads
These accidents often result in severe injuries like traumatic brain injuries, spinal cord damage, and complex fractures. Our pre-settlement financing also covers slip and fall cases at ski resorts, workplace injuries in shipyards, and premises liability claims at popular attractions.
Beyond personal injury, we provide legal claim funding for maritime accidents, medical malpractice, and employment and labor disputes in various industries. Our non-recourse legal funding even extends to unique Maine scenarios like injuries from lobster boat incidents, cases related to the state’s blueberry industry, and property disputes involving coastal land.
Tribeca’s lawsuit advance options ensure Maine plaintiffs can pursue justice without financial pressure, whether facing a large corporation or a government entity.
The Advantages of Legal Funding
Legal funding has lots of benefits compared to both traditional loans and to other forms of litigation financing. Many of the benefits stem from the fact that legal funding is considered non-recourse debt, which means you are not held personally liable for the lawsuit loan you are provided.
- You do not pay back your pre-settlement funding if you lose your lawsuit.
- All repayment comes directly out of your compensation package (either a jury award or a settlement), and never out of your personal bank account.
- Unlike other forms of financing, like medical funding, you can spend your Maine lawsuit loan on any expenses that crop up. No restrictions!
Maine Pre-Settlement Funding Requirements
Our team has an impressive case acceptance rate of over 94%, with more than 1,600 people served. There are only a few requirements that qualify you for pre-settlement funding in Maine with our company.
For starters, you must have a lawsuit. Next, you have to be the plaintiff and not the at-fault party. Finally, you must be represented by an attorney or law firm.
Studies by the Insurance Research Council and other organizations have consistently shown that you are much more likely to receive a large settlement if you work with an attorney. Not only that, but your attorney works with us when it comes time for repayment, so you don’t have to lift a finger.
Apply for Lawsuit Loans in Maine for Free
Are you ready to experience freedom from your financial struggles? Tribeca Lawsuit Loans can help. Click the Apply Now button at the top of the page and tell us about your lawsuit. We take on all the risk in this funding arrangement, so you and your family can get the money you need without having to worry or stress.
Frequently Asked Questions
What is a lawsuit loan in Maine?
A Maine lawsuit loan provides funding for the plaintiff in a civil suit. The “loan” acts more like a cash advance against the lawsuit’s future settlement. This funding is often essential to empower the plaintiff to recover the full compensation their case warrants. The lawsuit loan enables the litigant to pay their bills and alleviate financial stress while allowing their attorney the time needed to negotiate the best settlement possible.
How long do lawsuits take to settle?
While some lawsuits settle within days, they usually take several months to years to resolve. Yes, it takes time to build a case and for both sides to thoroughly investigate the facts. But this process typically takes just a few months. So why do lawsuits often take so much longer? While it is true that the civil court system is both slow and backed up, the most significant causes of delay are defense attorneys and insurance companies.
Stalling settlement negotiations is a common tactic designed to cause the plaintiff’s financial stress to build. The goal is to pressure the plaintiff to settle for a small fraction of the case’s worth. Sadly, this strategy often works. Many people grow so desperate that they settle for about 30%, just to get some money from the experience.
A Maine settlement loan acts like a cash advance on the future compensation. It puts money in the bank that can pay the bills and alleviate the economic pressure. In addition, with this legal funding, the plaintiff can afford to give their attorney the time needed to negotiate the appropriate compensation for the damages suffered.
Is a Maine lawsuit loan safe?
Yes! Maine lawsuit loans are very safe for the borrower. This is due to the unique structure of the loan. Legal lending, like lawsuit loans, is classified as “non-recourse loans.” They are very different from conventional loans like car loans or credit cards. Non-recourse loans are repaid solely from their collateral. A lawsuit’s future settlement serves as the collateral on the loan.
The Internal Revenue Service (IRS) clarifies that borrowers are not personally liable for non-recourse loans. Not only are Maine lawsuit loans safe for borrowers, but there is no credit check or income verification required. Therefore, the borrower’s income or assets are never at risk. As a result, not only are Maine lawsuit loans safe for borrowers but no credit check or income verification is required. Best of all, should you lose your case, you don’t have to repay the loan.
How much does pre-settlement funding cost?
Pre-settlement funding will cost you a portion of your future settlement package. That future settlement serves as the collateral on the loan, and is the sole source of repayment. Reputable pre-settlement funding companies will not charge an application fee. They should only charge a simple, non-compounding interest rate. If you are in the market for a Maine lawsuit loan, never do business with a company that charges for the application that uses compounding interest.
Does Tribeca offer post-settlement funding?
Yes, in addition to pre-settlement funding, Tribeca offers post-settlement funding. This can be helpful if you’ve won your case but are still waiting for the settlement to be processed.
How does the insurance company factor into theseloans?
Insurance companies often try to delay settlement negotiations, hoping plaintiffs will accept lower offers due to financial pressure. With a lawsuit or settlement loan, you can better withstand these tactics and give your attorney time to negotiate a fair settlement.