Can I Receive Pre-Settlement Funding If I Already Have An Attorney?

Can I Receive Pre-Settlement Funding If I Already Have An Attorney?

Can I Receive Pre-Settlement Funding If I Already Have An Attorney

When involved in a lawsuit, plaintiffs often face financial difficulties whilst awaiting their case to settle. Pre-settlement funding, also known as lawsuit funding, legal funding, or litigation finance, provides a viable solution to this problem. It allows plaintiffs to access a portion of their anticipated lawsuit settlement amount as a cash advance, assisting them in meeting their financial needs during the litigation process.

Tribeca Lawsuit Loans is one such funding company that offers pre-settlement funding to plaintiffs involved in personal injury cases, workers’ compensation cases, and other legal proceedings.

What is Pre-Settlement Funding?

Pre-settlement funding is a financial service where a plaintiff can obtain a cash advance against the potential settlement of their lawsuit. Unlike conventional loans, this sort of funding is called a non-recourse loan, indicating the plaintiff is not required to return the amount if they lose the case. Instead, the repayment is contingent upon the successful outcome of the lawsuit.

Can I Apply for Pre-Settlement Funding if I Have an Attorney?

Yes, having an attorney or lawyer is not a hindrance to applying for pre-settlement funding. In fact, working with an attorney or lawyer can increase your chances of obtaining funding. Funding companies like Tribeca Lawsuit Loans understand that lawsuits can be complex and time-consuming, and having legal representation is crucial for a successful case. Therefore, your attorney’s involvement is expected and welcomed during the pre-settlement funding process.

How Does Pre-Settlement Funding Work with an Attorney

When acquiring pre-settlement funding, your attorney will play a crucial role in the process. The funding company will work directly with your attorney to gather necessary information about your case, including the estimated value of your potential settlement. Your attorney will also provide details about the contingency fee agreement, which outlines the percentage of the settlement that will go to them upon a successful outcome. This information is essential for the funding company to assess the risk and determine the amount of funding you may receive.

Will my attorney’s fees be affected if I receive pre-settlement funding?

No, pre-settlement funding is separate from your attorney’s fees. Your attorney’s contingency fee will still apply based on the agreed-upon percentage of your settlement or judgment.

The Process of Obtaining Pre-Settlement Funding When You Already Have an Attorney

In obtaining pre-settlement funding, you’ll need to heed the steps below.

  • Research and Choose a Funding Company: Look for reputable funding companies like Tribeca Lawsuit Loans that specialize in pre-settlement funding for cases similar to yours.
  • Apply for Funding: Fill out the application provided by the funding company. Your attorney will be required to submit additional documentation and case details.
  • Funding Evaluation: The funding company will review your case, considering factors such as liability and potential settlement value.
  • Funding Approval: After an application approval you’ll receive a funding offer outlining the terms and conditions.
  • Receive Funding: Upon accepting the offer, the funds will be transferred to you, helping you meet your financial needs while your case is ongoing.

How Much Pre-Settlement Funding Can I Receive If I Have an Attorney?

The total sum of pre-settlement funding you can acquire varies on the specifics of your case and the estimated settlement value. Typically, funding companies offer a percentage of your expected settlement amount, which can range from 10% to 20%.

General FAQ Section

Will my attorney need to be involved in the pre-settlement funding process?

Yes, your attorney’s involvement is essential during the pre-settlement funding process.

Can I receive pre-settlement funding if I am the defendant in a case?

No, pre-settlement funding is specifically designed for plaintiffs involved in lawsuits, not defendants.

Can I receive pre-settlement funding if I already have an attorney?

Yes, having an attorney does not disqualify you from applying for pre-settlement funding. In truth, it is Tribeca’s one major requirement.

Can I use pre-settlement funding for any purpose?

Yes, you can use pre-settlement funding for any financial need you have. Whether it’s covering medical bills, rent, daily living expenses, or other pressing financial obligations, the use of the funds is entirely at your discretion.

How long does it take to get approved for pre-settlement funding?

The approval process for pre-settlement funding varies on the complexity of your case and the cooperation of your attorney. In some instances, approval can be granted within a few days, while more intricate cases might take weeks. At Tribeca, you can acquire the cash in just 24 to 24 hours upon approval!

Can I apply for additional pre-settlement funding if I need more money later on in my case?

Yes, in some instances, you can qualify for additional funding if necessary. This process is called “renewal” or “top-up.” Your attorney ought to provide updates on the progress of your case, and the funding company will reassess your additional funding eligibility.

Are there any upfront fees or hidden costs associated with pre-settlement funding?

Reputable funding companies, like Tribeca Lawsuit Loans, don’t charge any upfront fees or hidden costs. The terms and conditions of the funding agreement such as any fees, will be transparently displayed in the funding offer.

Can I apply for pre-settlement funding if my case is close to settling?

Yes, you can still apply for pre-settlement funding even if your case is close to settling. However, the availability of funding may be subject to the funding company’s assessment of your case’s potential settlement value.

Conclusion and Next Steps

Consider looking into pre-settlement funding options if you are a party to a lawsuit and require financial assistance throughout the litigation process. Working with a reputable funding company like Tribeca Lawsuit Loans can help you obtain the necessary cash advances without adding financial stress. Contact us today at 866-388-2288 or via completing our secure form to learn more about your options and take a step towards securing your financial stability during your ongoing legal proceedings.

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