How Personal Injury Loans Help Victims Win Cases

personal injury loans

What Is A Personal Injury Lawsuit Loan?

A personal injury lawsuit loan acts like a cash advance on your future compensation for your personal injury case. This loan uses your anticipated settlement as its collateral. Legal lending like this is quite different from the loans you are likely familiar with – the critical difference is that legal funding is structured as non-recourse loans.

In non-recourse loans, the collateral is the only legal source of money for loan repayment. The lender can’t force you to use your income, property, or any assets other than the future settlement of the case the loan funds. This difference has many effects on how you apply for and repay your loan.

Why Get Loans Against Personal Injury Lawsuits

Waiting for the settlement of personal injury lawsuits can be a lengthy process. This can put an enormous financial burden on victims as bills for medical care and living expenses start to pile up. Many victims may temporarily or even permanently lose their earning capacity as they try to recover.

Why Tribeca Lawsuit Loans?

Tribeca Lawsuit Loans is here to take that burden off you and your loved ones’ shoulders. If your bills are adding up while you’re waiting for your settlement, we can provide affordable personal injury loans for immediate financial relief. Talk to us today to find out your options for personal injury and slip-and-fall lawsuit funding.

Sadly, there are funding companies that only offer cash advances with excessively high interest rates and huge additional fees. Without the help of a trustworthy company, many victims may end up spending most of their settlement to repay these loans.

But Tribeca Lawsuit Loans is different. Here’s what you can expect when you get financial help from us:

  • A transparent application process
  • Low, fair interest rates
  • No hidden fees
  • Attentive team members to provide quick, responsive customer support
  • No repayment required if you lose your lawsuit

If you can’t get your settlement money now, you can apply for a lawsuit loan with Tribeca to cover your daily expenses and lawsuit costs. However, we also understand that applying for a lawsuit loan can be an intimidating, complicated process.

Contact us through our site details so we can tell you more about the application process and answer your questions. Our team is standing by and ready to give you a hand!

How Does Pre-Settlement Funding Work?

Your settlement may not arrive for months or even years from now. However, it’s possible to estimate its size based on the facts around your case. This is the principle behind personal injury settlement loans, which allow you to borrow against this expected amount.

After a serious injury like a slip-and-fall or motor accident, you may be facing steep medical bills, mounting living expenses, and other damages. At the same time, you may have lost income or even future earnings, especially if your injury caused you to switch industries. Legal funding allows you to access the money from your future settlement now. This helps you resist the financial pressure from the defense to settle for mere pennies on the dollar.

Legal funding, also known as a personal injury lawsuit loan, can provide you with a risk-free cash advance during your lawsuit. This legal financing could be just what you need to win out against well-funded defendants.

How Personal Injury Settlement Loans Help Accident Victims Win Bigger Settlements

We all know that personal injury cases can drag on for months or even years. Yes, the legal system is slow and in desperate need of more personnel. But the biggest reason the process is so slow is that defense attorneys and insurance companies employ delaying tactics to protect their interests.

These parties deliberately slow the pace of your settlement negotiation, hoping that your mounting medical bills and living expenses will put you in financial distress. They’re counting on this pressure to make you accept a lower settlement offer instead of holding out for the fair compensation you’re owed.

Sadly, these tactics persist because they’re very effective. Personal injury plaintiffs like you routinely settle for just 35-40% of the compensation they deserve just to stop the financial pain. But with a personal injury lawsuit loan, you will have the cash reserves you need to manage expenses and give your attorney the time they need to get the best settlement possible.

Since Tribeca wants your court case to succeed, we may also give your attorney case funding in addition to your pre-settlement funding. That money can pay for expert witnesses and other litigation expenses that can improve your odds of winning a larger settlement.

Types Of Cases That Qualify For Personal Injury Settlement Loans

Pre-settlement funding can be used for a wide array of personal injury cases. Here are some of the most common types of personal injury lawsuit loans we fund:

The list of cases we fund is ever-growing. We also fund personal injury settlement loans for those engaged in mass torts.

After a personal injury, injured victims could be entitled to substantial financial compensation. However, it will take a great deal of time for your case to be investigated, documented, and argued before you’ll see that award. If you cannot afford to give your law firm the time needed to negotiate your settlement, personal injury claim funding can give you an advantage in your fight and empower you to outlast the defense’s pressure tactics.

“I was in a bind to get caught up on my rent and car note/insurance, and Tribeca Lawsuit Loans came through with the funding I needed without a worry or a hitch in the process. I love the customer service and care and how attentive they are to details. Thank you, Tribeca.”

Testimonial by Stephen A Triplett Jr.

What Expenses Can Be Paid By Personal Injury Loans?

A personal injury case can take months or even years to settle. During that time, you could face mounting bills and have less money to pay them than before your accident. A personal injury lawsuit cash advance can help you cover lost wages and other living expenses so you can resist the defense’s pressure to settle for less.

Personal injury loans cover expenses such as:

  • Medical care
  • Rent or mortgage payments
  • Car payments
  • Child care expenses
  • Educational expenses, such as student loans
  • Credit card debt
  • Groceries, utilities, and other living expenses

This is by no means an exclusive list. There are no limitations on how you use your personal injury lawsuit funding. The money is yours to use however you would like.

You also don’t have to worry about repaying through other sources like your wages or your personal assets. Your case settlement will be the sole source of repayment for injury loans. Therefore, your personal finances will never be at risk when repaying your injury lawsuit advance.

Am I Qualified For A Personal Injury Pre-Settlement Loan?

You’re likely pre-qualified to receive pre-settlement financing from funding companies if you have pending personal injury claims. However, that alone won’t be enough to help you obtain a personal injury pre-settlement loan. You’ll need to meet a few other basic qualifications to get approved for personal injury loans.

The primary factor impacting your eligibility for personal injury lawsuit loans is the quality of your case. If it appears clear that you were the victim of the defendant’s actions and the defendant’s insurance company accepts liability, you could qualify for bigger immediate cash advances with lower interest rates.

To get lawsuit loans for a personal injury claim, you only need to fulfill a handful of basic qualifications:

  • You’re 18 years of age or older.
  • You have filed a personal injury lawsuit.
  • You are represented by a contingency-based attorney.

Unlike other forms of financing, there are no credit checks you have to pass to get a personal injury loan. This is why your credit score, employment history, and valuation of personal assets won’t impact your eligibility for lawsuit loans. All that determines whether or not you get legal funding are the facts around your lawsuit, and if a lawyer represents you.

Before funding your personal injury cash advance, our company requires you to be represented by an attorney. Personal injury attorneys typically get better case outcomes compared to accident victims who represent themselves, winning more cases and larger settlements. To ensure that you win the best possible compensation, you must have legal representation.

Personal injury loans on settlements are investments, and the company offering these loans to you will want to see a return. They risk a total loss of their investment if you don’t win your case, so they are often selective about whom they offer litigation funding.

What State Laws Impact My Pre-Settlement Funding Eligibility?

The most common state laws that can impact your eligibility for personal injury pre-settlement loans are statute of limitations laws. Statute of limitations laws set a maximum time period after an event when a person must file their case, or else their legal claim will be barred.

In some states, you have as little as a year to file a lawsuit for a personal injury claim. Unfortunately, it often takes a year or longer to even know the full scope of damages you suffered and estimate a fair amount for compensation. You must run a balancing act and file your case before the statute of limitations expires, but only after knowing the full extent of your damages. By filing too early, you run the risk of suing for damages with a low estimate for compensation.

Note that some states are also not as friendly to third-party lawsuit funding and make it difficult for personal injury pre-settlement funding companies to operate. They may place additional requirements that can complicate or prolong an application process.

Another hurdle that can keep you from getting an injury loan is a state’s fault laws. Several states have shared fault, with a percentage of fault assigned to each party. Shared fault can affect the size of your compensation. Simply put, the greater your estimated share of the fault, the lower your compensation will be.

Some states simply rule in favor of the defendant if the plaintiff is found to be more than 50% at fault. That is why some lawsuit loan companies are averse to working in at-fault states, as they can absorb a total loss if the plaintiff is found to be partly at fault in their case. Fortunately, Tribeca Lawsuit Loans provides personal injury settlement loans in most states in the country, including those with complex shared fault laws.

How Much Can I Get In Personal Injury Settlement Loans?

In most cases, you’ll be able to get anywhere from 10-30% of the estimated value of your financial compensation as a lawsuit cash advance. The amount of money you receive as a settlement loan will depend on the specific circumstances of your case. We’ll take a detailed look at who is liable for your damages, what kind of coverage is available for them, and their potential amount.

  • Damages: The scale of the damages you suffered will serve as an upper limit to the amount you can recover in a personal injury settlement. You may face medical care bills and lost income, along with long-term serious injury. You could also face soft tissue damage and mental suffering, both of which should be covered in your final compensation package.
  • Liability: When determining who is responsible for your damages, we’ll look at the circumstances of your case. If the defending party can be held fully liable, you’ll have a much stronger chance of winning your case. You may still obtain personal injury advances with partial liability in some states, but this usually isn’t possible in at-fault states.
  • Coverage: The maximum amount of your potential settlement will be determined by the defending party’s amount of insurance coverage. States may impose a minimum policy limit for auto accidents, which we can use as a baseline for your settlement advance. Commercial policies tend to be substantially larger, which can allow you to receive more funding for your personal injury claim.

Once we’ve taken these factors into account, we’ll have a better idea of the amount of legal funding we can offer. Should you require more, you may be able to apply for a second loan on your personal injury settlement.

Typically, Tribeca Lawsuit Loans provides legal funding for personal injury loans ranging from $500 to $2 million. As soon as you apply for a personal injury lawsuit loan, we can dig into your case’s specific circumstances and let you know how much we can provide for your injury loan.

How Much Do Personal Injury Loans Cost?

The price of your settlement funding will depend on the circumstances around your case. There is no one set price you can expect to pay for a personal injury loan. Each settlement is different and varies in both risk and potential payout for injured victims and lenders.

Unfortunately, we can’t give you an estimate of how much your legal funding will cost ahead of time. However, we can say that we have no hidden fees, and we charge only a low, simple interest rate. Be sure to avoid high compound interest rates, which can add significant costs during longer cases and eat right through your compensation.

Once you apply for loans on the settlement of personal injury cases with Tribeca, we can review your case and provide you with our settlement funding offer – complete with all the details and the specific interest rates spelled out in clear, easy-to-understand terms.

How Risky Is Legal Funding For Personal Injury Claims?

Legal funding has several advantages over other funding sources you might turn to, such as a personal loan, second mortgage, or credit cards. Remember that the IRS classifies personal injury loans as non-recourse loans. This means that:

  • Your personal finances, assets, or property cannot be attached to repay the debt.
  • You don’t have to repay the loan at all if you lose the lawsuit.
  • You won’t ever owe more than your settlement is worth.

Non-recourse personal injury lawsuit loans carry no risk at all for borrowers. Unlike traditional loans, the only collateral at stake with injury lawsuit loans is your settlement award. This means any repayment of your lawsuit loan comes only from the settlement of your personal injury claims, leaving your personal assets untouched.

How Does Personal Injury Lawsuit Loan Repayment Work?

With traditional loans, monthly payments begin immediately. But litigation loans can only be repaid from your future compensation, so we’re prepared to wait. When your personal injury claim finally resolves, the at-fault party will cut a check for the total settlement you are awarded.

That check will be sent to your attorney or law firm, who will deduct the agreed-upon portion to repay our personal injury loan. Your attorney or law firm will also deduct their fees and then send the balance of the payment to you. It’s just that simple and hassle-free.

Why Choose Tribeca Lawsuit Loans?

First, because your lawsuit funding company (like Tribeca) will never see a cent of your own money, our personal injury lawsuit loan application has:

  • NO credit checks
  • NO income verification
  • NO personal asset valuation

Secondly, you will never experience monthly repayment demands, harassing letters, or phone calls for repayment. Instead, we get repaid by your attorney through your settlement funds. Thirdly, because your compensation is the only source of money that can be used to repay your personal injury lawsuit funding, you don’t have to repay your loan if you lose your case.

Tribeca Lawsuit Loans seeks to level the playing field for your fight for your owed compensation. With personal injury loans, you may even win a bigger settlement.

How Do I Apply For Personal Injury Settlement Loans?

Our company understands that you’re likely in desperate financial straits by the time you decide to apply for legal funding. This is why Tribeca Lawsuit Loans has worked hard to streamline our personal injury loan application, making it quick and easy to apply, get your answer, and then get your money. It’s just three simple steps:

  • You apply. Simply visit our website’s  Apply Now page to provide your contact information, your attorney’s contact details, the background of your case, your state of residence, and the amount of funding you need.

We advise that you limit the amount that you apply for. You may qualify for higher funding because of the value of your personal injury claims, but you should only take on as large a loan as you need. This will help you avoid paying excessive interest on the money you won’t use.

  • We evaluate your claim. Our underwriters will contact your legal team to research your case. After getting more information, they crunch the numbers to determine how much money we can offer you.
  • We deposit your advance. Just as soon as we get all the documents signed by you, your attorney, and our team, we will deposit your money directly into your personal account.

Typically, you can get your money within just 24-48 hours. In some situations, we can fund the same day that you apply!

To ensure your application moves smoothly and quickly, please contact your attorney right after sending us your application. Let your lawyer know that you have applied for a personal injury settlement loan with Tribeca Lawsuit Loans and that you authorize your legal team to speak with us.

Apply For A Personal Injury Lawsuit Loan For FREE!

Our company offers pre-settlement legal funding for personal injury cases. We can provide you with a maximum advance of $2 million in personal injury lawsuit loans. Our application process is quick, easy, and FREE to complete. Simply visit our  Apply Now page or call us at (866) 388-2288 – one of our friendly team members will be happy to assist you.

Within 24 hours of your application’s approval, we can send a settlement advance for personal injury lawsuit funding. Our company has lent an estimated $45 million in personal injury loans to our clients across the United States. Contact us today to get the resources you need to win your personal injury case!

Personal Injury Lawsuit Loans – Frequently Asked Questions

How do I qualify for a personal injury pre-settlement loan?

Qualifying for a personal injury lawsuit loan is simple. All that is required of you is to meet the following conditions:

  • Are at least 18 years of age
  • Have filed a personal injury lawsuit
  • Are represented by a contingency-based attorney or law firm

After these considerations, the strength of your case is the primary consideration for the lender when deciding whether to fund your injury loan.[/vc_toggle][/vc_column][/vc_row][vc_row][vc_column][vc_toggle title=”Can I get a personal injury loan with bad credit?”]Yes, you can. Your credit rating doesn’t influence how you secure loans on settlement of personal injury cases. All reputable legal lenders structure injury loans as non-recourse loans that use the future settlement as the loan’s collateral.

There is no credit check and no income verification. We won’t even evaluate your assets because your personal finances will never be touched for paying off your loan. Repayment comes from your case’s future settlement — or not at all. If you lose your case, you won’t owe us a dime!

How much is my personal injury case worth?

The value of your personal injury lawsuit is directly tied to the severity of your injuries and other damages. The more severe your injuries and the greater the cost of your medical bills, treatment, therapy, etc., the greater the value of your personal injury case. If you apply for a personal injury loan, the legal lender’s underwriters will contact your attorney to make their own determination of your case’s value. They use this to determine if they should offer you a lawsuit loan and for how much money.

Why is my personal injury claim taking so long?

Personal injury lawsuits can take a few months to several years to settle. There are up to four factors making your case drag on:

  • The case may be slowed down due to a legal or factual issue.
  • A complex case with substantial damages takes longer to resolve than a simpler one.
  • You may not have reached maximum medical improvement if you’ve suffered a serious injury and may have more damages that must be covered.
  • Delay is a common tactic used by the defense’s law firms or insurance company to shield their clients from paying the total compensation that they are due.

Because personal injury claims take so long to resolve, plaintiffs are often left to struggle financially. Eventually, they may buckle under financial pressure to accept just a small fraction of their liability claims’ true value.

Personal injury lawsuit loans were developed to address this problem. A pre-settlement loan gives you access to your future compensation, so you can afford to ride out the lengthy case to get the settlement you’re owed.

How do I increase my personal injury settlement?

Insurance companies and law firms drag out negotiations so that the financial pressure and stress on the plaintiff increases. Their goal is to force the plaintiff to accept a small fraction of their case’s worth. If you take out a loan on the personal injury settlement so you can pay your bills, you’ll be able to afford your attorney the time needed to get you the best possible compensation.

What are slip-and-fall lawsuit loans?

Slip-and-fall lawsuit loans are personal injury pre-settlement cash advances that funding companies can provide to slip-and-fall accident victims. This funding is meant to help victims manage their expenses as they wait for their cases to be resolved.

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