Can You Get An Advance On A Pending Settlement?

A cash advance is a percentage of the estimated settlement you are going to receive when your lawsuit concludes. These amounts are estimated by looking at previous settlement payouts awarded for similar cases. A legal financier believes that you will win your case, and therefore helps you get it by investing in your lawsuit, by giving you part of the expected settlement in advance.

Even with the best preparation and the strongest team sometimes lawsuits take an unexpected turn. This is not that common but unfortunately, it does happen. Nevertheless, your worries should not persist in needing to repay the cash advance as you would have been protected by the nonrecourse structure of the cash advance agreement. Nonrecourse is a legal term which means you are not liable to repay in the event that your lawsuit is unsuccessful.

Normal financial products like credit cards and personal loans are of the nature that no matter what you will always be obliged to repay them. Legal funding that comes in the form of cash advances are products that are nonrecourse, and even though legal funding is sometimes referred to as lawsuit loans, they are not the typical loan that needs to be repaid. Knowing that you do not need to repay the pre-settlement advance in the unlikely event that your lawsuit doesn’t end on a positive note, will give you extra peace of mind when you are already going through a difficult financial situation.

The application process always begins with a phone call. In this phone call, we can get an idea of what happened to you, and consequently, you can put us in contact with the lawyer who is actively working on your case. 

Your lawyer will be able to supply us with the evidence supporting your legal claim. Once we’ve received all the necessary documentation for car accident lawsuit loans, we’ll be able to assess and approve your application.

Once approved it is common practice to send you the cash advance within 24 hours. This is that quickly because we are aware that you might be behind in rent or mortgage repayments and other bills need to get paid before electricity might be cut off. Not only that but as everything is spiraling out of control around you, you need urgent medical care, and money is urgent. Hence Tribeca Lawsuit Loans has made the application process as streamlined as possible to give you the necessary legal funding as soon as possible.

If you already have received pre-settlement funding from a legal financier, it is possible to receive an additional one. Usually what happens is there will be another assessment of your lawsuit and expected settlement. Also, if you have legal funding from another legal financier, the first cash advance will be bought by the second one, so all legal funding comes from one legal funding financier. Of course, there are exceptions, it is best to give us a call to see what the options are.

Tribeca knows that everybody’s circumstances and needs are different. Because of this, every application will be assessed on an individual basis. Even if your lawsuit type is not mentioned online, it is best to ask one of our advisors as we will accommodate your needs.

It must be the most stressful time of your life, a lot of people in your circumstances would have been unable to work and as a result, have lost their jobs and with it their medical insurance. If you have suffered horrible injuries from an accident which was completely the other person’s fault, you might feel absolutely hopeless not knowing how you are going to survive until you receive your settlement. If this is you, give us a call straight away, because Tribeca has helped so many people in similar situations, bridging the financial gap until they received their settlement to compensate for the physical and emotional damage that they went through.