Can My Lawyer Deny Me From Getting a Pre-Settlement Loan?

Can My Lawyer Deny Me From Getting a Pre-Settlement Loan?

can my lawyer deny me from getting a pre-settlement loan

The short answer is no. Your lawyer cannot deny you from getting a pre-settlement loan. However, you do need to be represented by an attorney to qualify for legal funding. Sounds confusing, doesn’t it? For a complete understanding of your attorney’s role in securing a settlement loan, let’s explore this question further. We’ll also cover related questions like:

Your Lawyer Cannot Deny You From Getting a Pre-settlement Loan

Your attorney cannot prevent you from applying for or qualifying for a pre-settlement loan. The choice to accept legal funding is entirely yours. However, to qualify for a lawsuit loan, you do need to be represented by a contingency-based attorney. So, what should you do if your attorney says No?

What should you do if you feel you need or want a pre-settlement loan and your attorney disagrees? First, ask for the reasons, and listen carefully. Although we believe a lawsuit loan can be a boon for cash-strapped litigants, legal funding is not the best choice in all circumstances. For instance, if you have already received a settlement offer that your attorney believes is the best you can get, continuing to negotiate could hurt your position. In that case, you should skip the loan and accept the settlement.

So, ask for your attorney’s reasoning and consider it carefully. But the bottom line is, legal funding is your choice. If your attorney disagrees, you can always get another attorney. Just be certain to consider your options thoroughly.

Why Do I Need an Attorney to Qualify for a Lawsuit Loan?

In a court of law, you have a right to represent yourself. Yet, at Tribeca Lawsuit Loans, we require that all clients be represented by an attorney to qualify for funding. This is for a couple of reasons. First, studies consistently show that experienced attorneys win their cases with far larger settlements for their clients than those who represent themselves. We want you to win your case and to get the compensation you deserve!

Secondly, your attorney is responsible for disbursing the funds when your settlement is paid. Your attorney will receive a check for the total compensation amount. They then send us the agreed-upon portion to repay the lawsuit loan. Then, they deduct their fees and send you the balance. Because the attorney accepts this responsibility, we do not have to require a credit check for our clients.

Why Might My Attorney Reject a Pre-settlement Loan?

Fortunately, most attorneys are happy to accept legal funding. Overwhelmingly, those attorneys who have worked with legal funding consider it a positive experience and intend to work with it again. They understand their clients’ economic hardships as the lawsuit drags on for months or even years. They recognize that a pre-settlement loan can be a lifeline for their clients.

However, there are cases where a lawsuit loan is not in your best interest. For instance, the timing makes a difference. The example above, where the settlement is very nearly finalized, is one possibility. Another is if you want to apply for legal funding before your claim is well-researched and the damages have not yet been established.

It’s also possible that legal financing is not legal in your state. While we offer litigation financing in most states, there are a few where it remains illegal. There are other cases where state law may be your attorney’s concern. For example, if you live in a no-fault accident state, it may be difficult to qualify for funding if there is any indication that you were partly at fault.

Finally, though rare, some attorneys simply refuse to work with legal funding in any case. So, it is important to learn whether the refusal is based on your specific case or if it is simply a general policy position taken without regard for your circumstances.

Your attorney is ethically bound to act in your best interest. So, if they advise against legal funding, ask why and take notes. Consider their input carefully, and you may come to agree. In the end, however, the decision is yours.

You can get pre-settlement funding if your attorney won’t cooperate, but it will be more challenging. When you apply for a lawsuit loan, the first thing we do is contact your attorney. This helps us get a thorough understanding of your case, its progress, and your needs. We need to learn how extensive your damages are and the facts underlying your lawsuit. We also want to learn whether your attorney has all the tools necessary to succeed. Then, we may be able to strengthen your case by supplying case funding to cover litigation expenses.

When you notify your attorney that you have applied for a lawsuit loan and authorize them to speak with us, it speeds up the loan process. With a prompt response from your lawyer, we can have your cash deposited into your account within 24 to 48 hours.

Your attorney’s consent and cooperation are essential to the legal lending process. So, what can you do if they disagree? Ask for the reasoning and consider it carefully. If you are certain you want a pre-settlement loan, and your attorney refuses to cooperate, you can simply find a new attorney. However, please consider carefully before taking this step. If your case is complex and your attorney has spent considerable time developing it, you may be better off sticking with your attorney and seeking funding elsewhere.

Can My Lawyer Give Me a Loan?

No. Your lawyer is legally barred from giving you a personal loan.

The American Bar Association prohibits attorneys from providing their clients with funding. The rule states, “Lawyers may not subsidize lawsuits or administrative proceedings brought on behalf of their clients, including making or guaranteeing loans to their clients for living expenses.

However, the same rule makes clear that your attorney can lend a client the money for “court costs and litigation expenses, including the expenses of medical examination and the costs of obtaining and presenting evidence.”

So your lawyer can front the money for expenses directly related to your lawsuit. But living expenses while your court case drags on cannot be borrowed from your attorney. Covering these expenses so you can afford your attorney the time to negotiate your compensation is what legal lending is for.

Yes! At Tribeca Lawsuit Loans, we work closely with the attorneys who represent our clients. In general, plaintiff’s attorneys welcome legal funding for their clients. They are happy to have us meet their client’s financial needs while they work on behalf of their legal needs. It is an excellent partnership.

We will never try to control your case or interfere with your attorney’s work. However, we can step in and provide your lawyer with case funding that can be used for steep litigation expenses like expert witnesses. If we learn there is a way to invest further in your case to strengthen it and improve your chances of winning, we will do so in consultation with your attorney.

Why Choose Tribeca Lawsuit Loans?

At Tribeca, we fund a vast array of lawsuits to make the civil justice system more accessible to all. In addition, we give financially-distressed plaintiffs access to their future compensation today. This allows them to pay their mortgage, medical bills, and other essential payments, so they can afford to continue their case to a just conclusion.

Here’s how it works. Every client’s case and financial needs are unique. Once we evaluate the facts of your case, we determine how much money we can offer in legal funding and at what interest rate. We spell out all the financial details in clear, easy-to-understand language. We won’t try to confuse you with legal jargon, and we welcome all questions.

We also do not charge hidden fees, “fixed fees,” or compound interest. Instead, we charge only a low, simple, non-compounding interest rate. In addition, we may cap your deal to ensure you take home as much of your compensation as possible.

We can have $500 – $2 million deposited into your account within 24-48 hours of signing the loan documents. There is no credit check, income verification, or asset evaluation.

No-Risk Legal Funding — Apply for Free, Today!

If you are the plaintiff in a lawsuit and struggling to make ends meet, Tribeca Lawsuit Loans can help! Visit our Apply Now page, or call us at (866) 388-2288. We will be happy to speak with you and answer your questions. It costs you nothing to learn what we can do for you.

We would be honored to aid you in your fight for justice.

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