Yes, you can borrow money against your lawsuit through pre-settlement funding, providing immediate financial relief during the often lengthy litigation process.
This allows you to cover expenses like medical bills, living costs, and legal fees while awaiting the settlement you deserve.
In this article, we’ll explore why you might need to borrow against your lawsuit, the advantages and disadvantages of doing so, and how to obtain pre-settlement funding to alleviate financial stress.
Why You May Need to Borrow Money Against a Lawsuit
When you are the victim of a physical or psychological injury caused by another party, your life can change drastically and quickly. For example, a workplace injury could leave you temporarily or even permanently unable to work. Even though the injury was no fault of your own, you can often be left waiting and worrying as the paychecks stop coming. In a perfect world, your employer would ensure you get through your ordeal with financial and moral support, but we all know that’s very unlikely.
This can have a domino effect that can spiral out of control fast. No income and ever-growing medical bills can start to pile up with everyday bills, leaving you with no money, few options, AND the nagging pain of physical injuries. This sudden decline in cash flow combined with new expenses is a recipe for disaster, and insurance companies and other lawsuit defendants know it.
Insurance companies and other responsible parties are notorious for taking advantage of these situations, looking to settle for as little as possible. They play the age-old litigation waiting game, leveraging their financial burden to pressure plaintiffs into settling for less money. Fortunately, there is an alternative. A lawsuit settlement loan lets you borrow money against a lawsuit to shore up your finances and turn the tables on the defendant.
Should I Borrow Money Against My Lawsuit?
Pre-pandemic statistics indicated that more than half of Americans were one paycheck away from being broke or homeless. Today, the percentage of Americans living paycheck to paycheck has risen to an astounding 70 percent, even as the economy slowly rebounds.
Bottom line? When most people are treading water financially already, taking a hit from unexpected medical bills, lost income, and other consequences of an injury can be devastating. So should you find out how to borrow money against your lawsuit? If you can survive financially for an unknown amount of time, the answer is probably no. But for far too many plaintiffs in a lawsuit, the answer is probably yes. Here’s what you need to know to decide if borrowing money against your lawsuit is right for you.
The Advantages of Borrowing Now
If you are involved in a lawsuit and running out of money, you can find immediate relief with a lawsuit settlement loan. There are many advantages to borrowing against a lawsuit, but it’s not something anyone should jump into before knowing the basics.
Borrowing money against your pending lawsuit with a settlement loan helps you recover more comfortably and take care of new and existing expenses like these:
- Groceries
- Child care
- Vehicles, including payments and insurance premiums
- Mortgage or rent
- Credit card debt
- Utilities
- Medical bills
- Legal fees
Settlement funding can help bridge the gap with a non-recourse loan paid back by the settlement. Borrowing against your lawsuit with a no-risk settlement loan from Tribeca means you don’t have to pay out a penny of your own money. Yes, you read that right—even if your lawsuit loses, you always win with pre-settlement funding from Tribeca.
In addition, our simple interest lawsuit settlement loans feature competitive interest rates, transparency, and most of all, the money you need when you need it. Staying afloat financially while your lawsuit is in litigation puts you ahead, giving you the time to build up your case against the defendant. What was once their most potent weapon becomes a non-issue that changes the lawsuit game!
The Disadvantages of Borrowing Against Your Lawsuit
One of the disadvantages of a lawsuit loan is the costs involved. While pre-settlement funding isn’t technically a loan, the process of getting one includes simple interest and certain fees. When you choose Tribeca, everything is upfront and on the table. That means no hidden fees, full disclosure of specific interest rates, and a transparent process from start to finish.
Another disadvantage of getting a settlement loan is the allure of often significant amounts of readily available cash. You may already be heading down the path to financial ruin because of your injuries. Add in the fact that your lawsuit could take way longer than you thought, and the financial pressure can become unbearable.
We get it. But just like mortgages, car loans, and other funding, borrowing more money than you need is a bad idea. You don’t need stress on top of stress, and creating debt without a need can eventually create even more financial pressure. Nevertheless, you can turn this disadvantage into an advantage when you take a thoughtful and realistic approach to borrowing money from your lawsuit.
How to Borrow Money Before a Lawsuit Settles
While many of our customers who borrow against their lawsuit turn to Tribeca after a car accident, we are uniquely equipped to provide an array of pre-settlement funding. From corporate whistleblower lawsuits to a slip or fall at the local grocer’s, Tribeca has you covered.
The validity of your lawsuit carries the most weight, and that’s why the scope of our lending services isn’t limited to specific lawsuits.
Can I borrow money against any pending lawsuit?
If your lawsuit is one that historically results in favor for the plaintiff, the answer is likely yes. Because lawsuit litigation can be a complicated process with inherent unknowns, Tribeca critiques each lawsuit for certain factors.
Our evaluation of a lawsuit settlement is based on decades of experience and a commitment to protect all parties involved. While qualifying to borrow money against your lawsuit depends on the unique aspects of your case, we have helped thousands of customers with lawsuits like these:
Wrongful Death
State wrongful death lawsuit loans vary, but if you are a parent, child, or spouse of the deceased, you would typically be considered a plaintiff in a wrongful death case. As long as you meet your state’s criteria, you will likely qualify for a pre-settlement loan.
Product Liability
Many of us have no idea what’s in our personal products, cleaning solutions, and other commercial concoctions. But the companies that produce these products know what ingredients are used, and when those ingredients cause injury, those companies are liable. If you suffer an injury from a consumer product, you may qualify for a lawsuit loan.
Employment Lawsuits
Workplace discrimination, wrongful termination, and other unfair practices can often be illegal. Your employer has no right to base their valuation of your services on your gender, age, race, or physical limitations. If they violate your legal rights, you may have recourse by filing a lawsuit.
Do I qualify to borrow money against my lawsuit?
The primary qualification to borrow money before your settlement is to be involved in a valid and active lawsuit. If your lawsuit is a good fit, you’re almost there already. Because Tribeca features non-recourse loans, we don’t check your credit, employment history, or financial health. All we ask is that you are 18 or older and have an attorney working on your lawsuit. That’s it!
Why do we insist that you have an attorney? Tribeca’s experience with lawsuits and insurance companies gives us a unique, inside perspective. Here’s what we can tell you: the defendant in your lawsuit will have a lawyer. If you don’t have an attorney, going to court is a losing proposition. Protect yourself and everyone else involved—get a good lawsuit attorney who knows the ropes.
Borrow Money Against Your Lawsuit the Easy Way
Tribeca Lawsuit Loans provides a safe, cost-effective way to borrow money against your lawsuit. Applying is fast and simple, and your lawsuit settlement loan could be in your hands within 24 hours. You don’t have to wait, worry, or settle for less than you deserve. Tribeca levels the playing field with a no-risk settlement loan so you can get your life back on track.
Call or fill out this short online form today to help you stay afloat and get the settlement money you deserve.