If you are involved in a plaintiff lawsuit, you may be wondering, “How much cash can I get in advance?” Typically, you can receive between 10% and 20% of your anticipated settlement amount through pre-settlement funding.
Pre-settlement funding, also known as a lawsuit loan, allows you to access a portion of your expected settlement before your case concludes. This immediate cash can help you cover living expenses, medical bills, and other financial obligations while your lawsuit is ongoing.
One of the main benefits of pre-settlement funding is that it provides immediate financial relief without waiting for the lengthy legal process to conclude. Personal injury lawsuits can take months or even years, leaving plaintiffs struggling with daily expenses. With pre-settlement funding, you can access a portion of your future settlement now, helping you maintain financial stability.
Additionally, pre-settlement funding reduces the pressure to settle quickly for a lower amount. With financial support, your attorney can negotiate more effectively, aiming for a fair settlement rather than a hasty resolution. Importantly, pre-settlement funding is a non-recourse cash advance, meaning you only repay if you win your case.
Factors Affecting Pre-Settlement Funding Amounts
Several key factors can influence the amount of pre-settlement funding you may be eligible to receive. Understanding these factors can help you better navigate the pre-settlement funding process and maximize your potential funding amount.
Severity of Injuries
The severity of your injuries is a key factor in determining the amount of pre-settlement funding you may be eligible for. More severe injuries, such as permanent disabilities or those requiring long-term medical care, typically lead to higher funding amounts. This is because these cases often result in larger settlements or jury awards.
For example, if you’ve suffered a spinal cord injury that has left you paralyzed and unable to work, you may be eligible for a higher funding amount compared to someone with a minor whiplash injury.
Strength of Legal Case
The strength of your legal case is another crucial factor in determining your pre-settlement funding amount. Cases with strong evidence, such as detailed police reports and eyewitness testimonies, are more likely to settle in favor of the plaintiff.
At Tribeca Lawsuit Loans, we carefully evaluate each case to determine its merits and potential value. We’ve commonly seen that cases with indisputable evidence and liability tend to receive larger settlements, which in turn allows us to provide higher funding amounts.
Anticipated Settlement or Jury Award
The anticipated settlement or jury award in your case is perhaps the most significant factor in determining your pre-settlement funding amount. Typically, lawsuit funding companies like Tribeca Lawsuit Loans can provide anywhere from 10-20% of the expected settlement value.
Experienced underwriters use industry-standard formulas and compare your case to similar ones in your state to estimate the potential settlement or jury award. This helps them determine a fair and reasonable funding amount for your specific situation.
Takeaways and Next Steps
Pre-settlement funding amounts depend on several factors, including the severity of your injuries, the strength of your legal case, and the anticipated settlement or jury award. Funding is available for a wide range of case types, from personal injury to employment law and civil rights cases.
By obtaining lawsuit funding, you can cover living expenses, pay medical bills, and avoid the pressure to settle your case early for less than it’s worth. With no risk to the plaintiff and faster access to funds, it’s an attractive option for many individuals pursuing legal action.
If you’re considering pre-settlement funding, the next step is to contact Tribeca Lawsuit Loans at 866-388-2288 for a free consultation.
Our experienced loan representatives can help you understand your options and guide you through the application process. Don’t let financial strain stand in the way of justice – explore your funding options today!
Frequently Asked Questions (FAQs)
How long does it take to receive funds after applying for pre-settlement funding?
At Tribeca Lawsuit Loans, we can often approve applications and disburse funds within 24-48 hours.
Will applying for lawsuit funding affect my credit score?
No, applying for pre-settlement funding does not require a credit check and will not impact your credit score.
What happens if I lose my case after receiving lawsuit funding?
If you lose your case, you owe nothing to the funding company. Pre-settlement funding is non-recourse, meaning repayment is contingent on winning your case.
Can I use pre-settlement funding to pay for legal fees?
In some states, you may be able to use lawsuit funding to cover legal fees and court costs. However, it’s best to check with your attorney, as laws vary by state.