The complexities of employment law and the resources of large companies make these kinds of lawsuits last a long time, sometimes even years. Meanwhile, your bills continue to rise even as you miss out on wages due to your employment law issue. Lawsuit loans, also called legal funding, can help you meet today’s needs while waiting on tomorrow’s compensation.
What’s the Difference Between Lawsuit Loans and Legal Funding?
Terms in the lawsuit lending industry can be confusing, but at Tribeca, we use the phrases “lawsuit loans” and “legal funding” interchangeably. However, there are major differences between the kind of funding we provide and a traditional loan from, say, a bank.
- Our funding is non-recourse, so you are NOT personally liable for any debt.
- Approval is NOT based on any credit check, bank statements, or other factors outside of your lawsuit’s details.
- The money we provide is repaid out of your eventual settlement, making it tax-free in most cases.
- We use simple interest rates rather than compound interest rates.
If you end up losing your lawsuit, you don’t have to pay us back at all! This way, we can say that the legal funding provided by Tribeca Lawsuit Loans is risk-free for you.
What Personal Injury Cases Can You Get Legal Funding For?
In addition to employment law cases, we also provide funding to clients with personal injury claims. Tribeca has helped out clients who had lawsuits stemming from:
- Car accidents
- Slip and fall incidents
- Premises liability
- FELA railroad injuries
- Wrongful death claims
- Medical malpractice
- Product liability
Depending on the facts of your case, you may qualify for anywhere from $500 to $1,000,000 from Tribeca Lawsuit Loans. After approval, that money can be in your account in as little as 24 hours.
Can I Receive Funding Before a Lawsuit Has Been Filed?
You can get a lawsuit loan, or legal funding, even before your case has been officially filed. As long as you are the plaintiff who stands to collect compensation, and as long as you have an attorney or law firm representing you, Tribeca should be able to provide you with the money you need.
Please note, however, that pre-settlement funding like this is only provided when it is clear that you have a case and are prepared to file a claim against the at-fault party. We will need to discuss the matter with your attorney before approving any application before a lawsuit has been filed.
How Long Does It Take to Process an Application for Legal Funding?
There’s no one answer to this question since everyone’s case is different and has different facts that need to be analyzed. However, Tribeca Lawsuit Loans is dedicated to processing applications as quickly as possible. Our process involves just a few easy steps.
- You apply by filling out the form on our Apply Now page.
- Our underwriters read through your application and contact your attorney or law firm for additional information.
- We approve or deny your application, though the odds are in your favor as we have an approval rate of 94%.
- Once you are approved, the money can be in your account in as little as 24 hours!
To help speed the process, make sure to include all the relevant information we may need in your application form. For example, let us know about the amount of damages you are seeking, the expected settlement or court award amount, and how long you and your attorney think your lawsuit might last.
Can I Get Legal Funding to Pay My Medical Bills?
Yes! There are absolutely no restrictions on the way you can use your legal funding. Most of our clients use it for expenses like:
- Medical bills
- Rent or mortgage payments
- Utility bills
- Legal fees or expert witness fees
- Daily costs like food and transportation
- Replacement for lost wages
You can think of the money as a way of pulling cash from your future settlement or compensation package. It’s already your money, but you’re borrowing it (through Tribeca) from your future self. Use it however you need while your case resolves.
Fill Out the FREE Application Form Today
If you are in the midst of an employment law claim and need cash to hold you over while you wait for compensation, legal funding may be the perfect solution for you. Apply for FREE by heading over to our Apply Now page.
You can also call our office to get more information on the ins and outs of legal funding. Dial (866) 388-2288 and one of our team members will be happy to discuss your application with you.