A wrongful imprisonment lawsuit loan gives you access to your future settlement today, enabling you to pay your current expenses.
The U.S. criminal justice system reveres the following premise: “It is better that ten guilty men go free than to convict one innocent man.” This is known as Blackstone’s ratio, and it is the reason we have the presumption of innocence in this country. It’s also why we must prove guilt “beyond reasonable doubt” before we take someone’s liberty. Yet, when our judicial system wrongfully arrests, convicts, and imprisons an innocent person, remedies and financial compensation are hard to come by.
Even when the government officially recognizes that your arrest, conviction, or imprisonment was wrong, it is slow to provide compensation. When the person is released from prison, they will be lucky to get about $100 in “gate money.” Unfortunately, victims of false imprisonment must sue for the compensation needed to try to make a life outside of prison. People in this position suffer immense financial hardships. When the lawsuit drags on, bills and financial stress mount. This is where a wrongful imprisonment lawsuit loan can be a lifeline.
Legal lending acts like a cash advance against your future compensation. You can meet your current expenses with this money while your attorney fights to get justice for you.
What is a Wrongful Imprisonment Lawsuit Loan?
Legal funding, like wrongful imprisonment lawsuit loans, is very different from most loans you’re likely familiar with. Your credit history and personal property play no part in securing the loan because your finances will play no part in repaying the loan. A pre-settlement loan is a non-recourse loan that uses your future settlement as collateral. This means that your settlement is the sole source of repayment for the loan. The lender has no recourse to attach your income or personal assets to pay the loan. In fact, if you lose your case, you don’t have to pay a penny!
Because we will never see a cent of your personal finances, our wrongful loan application includes:
- NO credit check
- NO employment verification
- NO property assessment
- NO asset evaluation
Your own money will never be used to repay the wrongful imprisonment lawsuit loan, so we leave your private financial information private. However, because your future settlement is the collateral for the loan, we DO ask:
- The length of your wrongful imprisonment
- The condition of your false arrest
- The details of the wrongful conviction
- Your missed wages due to the wrongful arrest and imprisonment
- The damages you suffered due to the false arrest and unlawful imprisonment
- The anticipated length of the case
- The compensation you will likely receive.
We will also ask for your attorney’s contact information. We will work closely with your legal team for the duration of the case until the settlement or jury award is funded.
What Can Money from a Lawsuit Loan Be Used For?
Project Innocence reports that the wrongfully convicted people they have freed from prison suffered, on average more than 14 years in jail! Whether your life has been upended for many years or “just” a few days, weeks, or months, the effects of wrongful imprisonment can be catastrophic. In addition to housing, transportation, and typical expenses, you may need therapy or medical care to address the trauma you have experienced. A wrongful imprisonment lawsuit loan can help.
Legal funding can be used to pay for:
- Mortgage or rent payments
- Car payments or transportation
- Income replacement
- Credit card debt
- Food and other daily expenses
Legal funding can be used to pay for anything you choose. It is your money to use as you see fit. That’s the good news. The better news is that a wrongful arrest lawsuit loan can actually help your legal team to win a larger settlement for you!
Do Wrongful Imprisonment Lawsuit Loans Charge Interest?
Legal lending for a police brutality case or a wrongful arrest lawsuit offers many benefits, but they are not free. Tribeca Lawsuit Loans charges a competitive, simple, non-compounding interest rate. This means that you pay interest on the original loan amount and not on the interest itself.
It is critical that you choose a legal lending company that does NOT charge a compounding interest rate or a “fixed fee.” The lawsuit loan industry is still largely unregulated, and predatory lenders can use these practices to eat right through your entire settlement. To ensure you will keep as much of your settlement as possible, be sure to choose a legal lending company that will:
- Charge no application fee or other upfront fees
- Charge only a simple, non-compound interest rate
- Does NOT charge a fixed fee or “factor rate”
- Has excellent customer reviews
- Answers your questions directly
- Writes the loan document in clear language instead of technical jargon
You’ll always get fair treatment, full disclosure of specific interest rates, respect, and transparency with Tribeca. We have no upfront or hidden fees, and we write our loan agreements in language that is easy to comprehend. We welcome your questions and want to treat your business in such a way that you are happy to recommend our services to a family member or loved one in need.
How Much Money Can You Get for Your Wrongful Conviction Lawsuit?
Until we see the specifics concerning your case in your application, we cannot know how much money your wrongful conviction lawsuit loan will qualify for. However, depending on the specifics, we have funded other lawsuit loans for $500 on up to $5,000,000.
Best of all, we can often get the money to you within just 24-48 hours of getting your loan approved and the documents signed.
How to Apply for a Wrongful Imprisonment Lawsuit Loan
We have streamlined our lawsuit loan application process to make it easy to apply for a wrongful imprisonment lawsuit loan:
- You apply – Simply visit our Apply Now page and provide the information about your lawsuit and the contact information for your attorney or legal team.
- We evaluate – Our team of underwriters will contact your attorney to perform their due diligence and determine how much money we can offer you for your lawsuit.
- You get your money – Once your loan is approved and all the documents have been signed, we’ll deposit your money into your bank account, often in 24-48 hours.
At Tribeca Lawsuit Loans, we are mindful that you have been through a shattering ordeal. Our goal is to provide the financial stress relief you need to help you rebuild your life.
Is a Wrongful Imprisonment Lawsuit Loan Right for You?
Legal lending has a lot to recommend it. It provides the money you need now, and it carries no risk to your personal finances. It is easy to qualify for a lawsuit loan, but qualifying for a loan doesn’t mean it’s the right choice for you.
A few signs that indicate a lawsuit loan is a good choice for you include:
- You face financial hardship and struggle to pay bills.
- You have suffered injuries or other expenses due to your wrongful arrest, conviction, or imprisonment.
- You cannot find suitable employment or have suffered a significant loss of current or future income.
- The insurance company or defense is offering a much lower settlement than you deserve.
Legal lending is not free. You will keep less of your final settlement if you take out a wrongful imprisonment lawsuit loan to pay your current bills. It’s a trade-off between easing financial pain now and keeping more of your settlement later. Even with a low, simple interest rate, a lawsuit loan becomes expensive when it stretches on for years. If you can meet your current financial obligations without hardship, it might be best to skip the loan.
How to Repay a Wrongful Imprisonment Lawsuit Loan
When you take out a lawsuit loan, it is because you need money to pay your bills while you wait for the settlement to fund. We understand this can take years! You make no loan payments while the lawsuit is ongoing.
Once your case is concluded in your favor, your attorney will receive a check for the entire settlement or jury award. They will deduct their attorney’s fees and write Tribeca a check for the agreed-upon portion of the settlement funds. Then, the rest of the settlement is deposited into your account. You’ll never have to worry about a loan repayment schedule.
Causes of Wrongful Imprisonment
Typically, the defendant in a wrongful arrest or a wrongful imprisonment lawsuit is the government. Legalscoops tells us the most common causes of false arrest, conviction, and imprisonment are:
- Eyewitness confusion
- Forensic mistakes
- False confessions
- Official misconduct
- Inadequate defense
In each of these cases, the government must accept fault for the false arrest and wrongful imprisonment. It is hoped that a wrongful imprisonment lawsuit will sting enough to help cause change in the justice system. However, not all unlawful imprisonment cases are due solely to a failure of the judicial process. Sometimes, false arrest and wrongful imprisonment happen for an entirely different reason — corporate greed.
For example, Hertz has wrongfully accused thousands of its car rental customers of car theft, leading to thousands of false arrests and wrongful imprisonments. In fact, the cars were never stolen, and Hertz successfully charged the customers for the rentals. One attempt to explain these false theft reports claimed it was part of a “cost-saving” program while the company filed for bankruptcy. Essentially, Hertz outsourced its inventory control to the police and the justice system, with taxpayers picking up the tab. And this practice has not stopped! Many wrongful imprisonment lawsuits have been filed against Hertz to end this shameful practice and provide compensation for the victims.
How Can Legal Lending Get You a Bigger Settlement?
The legal system moves slowly. Unfortunately, it is common for insurance companies and defense attorneys to drag out lawsuits even longer than usual. Their goal is to leverage your economic hardships against you to force you to accept a smaller settlement than you are seeking to stop the financial pain. Keeping with the example above, Hertz has successfully employed this same exact strategy against many of its estimated 8,000 – 23,000 victims.
Legal funding, like a wrongful imprisonment lawsuit loan, puts money in your pocket so you can pay your current expenses while your legal team fights for the full compensation you should receive. It levels the playing field, enabling you to resist the financial pressure to settle early and for a lowball offer.
In addition to relieving financial pressure, legal lending can also strengthen your case. Because Tribeca is invested in the successful conclusion of your wrongful arrest lawsuit, we may provide your attorney with case funding to cover litigation expenses like expert witnesses and other tools that can bolster your chances of winning a larger settlement.
Applying for Legal Funding is FREE!
When you’re ready to apply for a wrongful imprisonment lawsuit loan with Tribeca, the process is straightforward and hassle-free. There are no obligations, and it’s completely free! Just visit our Apply Now page to get the ball rolling. For more info, call us at (866) 388-2288 to talk with one of our team members. Once your loan is approved, we’ll work to get you the money in just 24-48 hours.
Let Tribeca provide the funding you need to continue your fight for just compensation.
Wrongful Imprisonment Lawsuit – Frequently Asked Questions
What is False Imprisonment?
False imprisonment occurs when one person deliberately restricts the movements of another without the legal authority to do so. Also known as wrongful imprisonment, false imprisonment can occur with or without physical restraints. For example, this crime may apply to a bank robber who refuses to allow the bank’s customers or workers to leave the premises during the robbery. In domestic abuse cases, false imprisonment may take the form of locking someone in a room and not allowing them to escape. If law enforcement arrests and holds someone without cause or places them in prison without regard to exculpatory information, this, too, is false imprisonment.
Can you sue the state for wrongful imprisonment?
Yes, you can sue the state if you have been wrongfully imprisoned by law enforcement. You may eventually win significant wrongful imprisonment compensation for the lost years of your life. However, wrongful imprisonment lawsuits can take several years to resolve. Meanwhile, exonerees typically have no resources beyond their family to support them. That’s where a wrongful imprisonment lawsuit loan can be a lifeline.
What is wrongful conviction compensation by state?
Yes. Most states (38), the District of Columbia, and the federal government have statutes on the books for providing monetary wrongful imprisonment compensation. However, this compensation is woefully inadequate for repairing the damage done by unwarranted time behind bars. Some states cap their compensation at $140 per day in prison, while many offer much less. According to The Innocence Project, “Under existing U.S. law, a wrongfully imprisoned federal convict can receive a maximum of $5,000, total, in compensation after exoneration, no matter how many years they spent unjustly imprisoned. (28 U.S.C. § 2513)”.
And wrongful imprisonment compensation must be applied and fought for. It can only be secured if the released individual can prove they were factually innocent. Unfortunately, exonerees often continue to suffer long after their incarceration ends unless they file a wrongful imprisonment lawsuit.
The following states have no compensation laws: Alaska, Arizona, Arkansas, Delaware, Georgia, Kentucky, New Mexico, North Dakota, Pennsylvania, South Carolina, South Dakota, and Wyoming. Nevertheless, you can still file and win a wrongful imprisonment lawsuit in these states, and legal funding can help.
How much are wrongful imprisonment lawsuits worth?
Wrongful imprisonment lawsuits are long and arduous but can be worth a great deal. Exonerees have won up to $25 million as financial compensation for the years and torment they have suffered behind bars. One of our clients, Derrick Hamilton, was awarded $7 million in wrongful imprisonment compensation. He had spent 23 years in jail, convicted of crimes he did not commit. When he was released from prison, he was given just $40 and a bus ticket. It took him years of work before his lawsuit was finally settled. We are proud to have supported Mr. Hamilton with a wrongful imprisonment lawsuit loan. Our funding empowered him to fight for better compensation from the state that stole more than two decades of his life.