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Can I Get More Than One Pre-settlement Loan?

It is possible in some cases to get another pre-settlement cash advance with Tribeca Lawsuit Loans. 

Are you nearing the end of your lawsuit, or are you in need of further unexpected medical treatment? Often as legal cases proceed, different circumstances crystalize and a revision of your current pre-settlement loan is appropriate. Tribeca Lawsuit Loans offer no-obligation reviews of current pre-settlement funding products held with them or even with other legal financiers.

Basics of A Pre-settlement Loan

Pre-settlement loans, also called legal funding, lawsuit funding or lawsuit loans are specific financial instruments that plaintiffs use when involved in legal proceedings so they can afford to live, get medical treatment, buy a new car or any other outgoings they might have. Lawsuits drag out over years and can take many unexpected turns. These pre-settlement funding products are usually given on an estimation of the value of the expected settlement and also your expected living expenses for the duration of the proceedings.  If you are unable to work because of an injury, you can get help from a legal lender with a cash advance to cover your household costs until your settlement comes in, and in the case this does not happen, you are not obligated to repay because the loan is non-recourse.

Taking Out Another Pre-settlement Loan

Typically a legal funding company will only fund up to 10-20% of the expected settlement. This is to ensure that the plaintiff is left with the biggest part after all parties have been paid. If your borrowed amount falls under this threshold, your current legal financier should be willing to review your application for an extension. Sometimes as proceedings advance the likelihood of a higher settlement might become apparent and pre-settlement funding companies can revise their initial assessment. The time it takes for a trial to conclude can vary and no two lawsuits are the same, therefore it is not unusual to request an additional pre-settlement loan. 

Can I Apply For An Additional Pre-settlement Loan From A Different Legal Lender?

Unanticipated events may occur which may result in needing more funding to cover your own household expenses. If you have been rejected for additional pre-settlement funding from your current legal financier, you can always apply with Tribeca Lawsuit Loans. Pre-settlement contracts stipulate that one plaintiff can not simultaneously hold multiple legal funding agreements from different issuers. Therefore, the financier offering the second pre-settlement loan will buy out the first financier. 

How Is My Pre-settlement Loan Determined?

The pre-settlement loan is 10-20% of the anticipated cash award that will become available at the end of a lawsuit. The average time it takes for similar cases to conclude is also taken into account. In addition, to individual case characteristics, which are then reflected in the compensatory and punitive damages.

Additional Legal Funding or Buy-out Requests

Tribeca Lawsuit Loans is always willing to deal with additional pre-settlement loan requests. If you have a pending lawsuit and your initial legal funding was not sufficient, apply for additional financing enabling you to afford your living expenses or medical treatments that were unforeseen before, Tribeca Lawsuit Loans is here to help. 

The application process is straight forward, give Tribeca Lawsuit Loans a call, we are available 24/7. 

Call to enquire about your specific case on 866-388-2288 or fill out the online form.

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