Tribeca provides pre-settlement legal funding to clients amid the often long and drawn-out lawsuit negotiation process. More akin to a cash advance than a traditional loan, pre-settlement legal funding provides you access to your settlement fast.
There is no limit to what you can spend your pre-settlement legal funding on. Additionally, it usually isn’t taxable since it gets tied to your non-taxed compensation package. So if you’re in the middle of a lawsuit, you can use pre-settlement legal funding to help ease your financial burdens.
How Does Pre-Settlement Funding Help Me?
After suffering through an accident, you’re more than likely going to spend time recovering from the injuries you sustained. Medical expenses in the U.S. aren’t cheap. Without insurance, resetting a broken bone can cost you thousands of dollars. Even if you have health insurance, there’s no guarantee that it will cover all your costs.
Outside of medical expenses, your bills won’t get paid if your injuries put you out of work. Financial obligations don’t stop just cause you got injured. In this case, you’ll need money to stay afloat.
Pre-settlement funding aims to get you cash fast. Instead of taking out risky loans with other financial institutions, you can get money from the settlement you’re going to win quickly. With that money, you can continue to recover and fight for the compensation you deserve.
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How Can I Use Pre-Settlement Funding?
Pre-settlement funding is very flexible. You can put the funding you receive towards any of your expenses such as:
- Medical expenses
- Food and miscellaneous living costs
- School expenses and tuition
- Vehicle repairs or replacements
- Property damages
- Mortgage or rent payments
The money you receive from pre-settlement funding is yours. You’re essentially getting early access to the settlement you’re negotiating for. After that, you can spend your money as you please for whatever debts or financial expenses you incurred due to your accident.
How to Get Your Pre-Settlement Legal Funding
Our process at Tribeca is simple and requires little effort on your part. While we won’t ask you to jump through hoops and circles, there are some eligibility requirements you need to meet. Eligibility requirements don’t usually differ by state. What matters the most is the type of case you have, your ability to win a settlement, and whether or not you have legal representation.
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Eligibility Requirements Explained
Pre-settlement legal funding is only for cases that involve a lawsuit in which you got injured by the actions or negligence of another person. Examples of cases we’ve funded before include:
- Personal injury claims (such as car or motorcycle accidents)
- Medical malpractice incidents
- Qui Tam or whistleblower lawsuits
- Jones Act cases
- Product liability claims
- Defective or dangerous drug claims
Additionally, we want all our clients to have legal representation. Not only does this give you a better chance at earning the actual value of compensation you deserve, but it also enables us to provide an easy, no-stress repayment process. We work with your lawyer or law firm when it comes time to repay your pre-settlement legal funding.
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What to Include in Your Application
Pre-settlement legal funding is not a loan in the traditional sense. We also do not need to run a credit check or perform an invasive deep dive into your financial history. Instead, you should include information in your application like:
- The name and contact information of your attorney or law firm
- Details about your case type
- The expected duration of your case
- Your expected settlement amount or jury award (based on the damages you suffered)
Since pre-settlement funding isn’t based on your personal finances and operates as non-recourse debt, there is no risk to you.
Repaying Your Pre-Settlement Legal Funding
The repayment process is one of the best parts of the pre-settlement legal funding process because it is so easy at Tribeca Lawsuit Loans. Below is a short outline of how the usual process works.
- After negotiation, you reach a settlement arrangement, or your case resolves at trial.
- Your attorney receives a check for the compensation amount from the at-fault party.
- Your attorney writes us a check for the agreed-upon repayment amount.
- After any lawyer’s fees, you keep the rest!
Since pre-settlement legal funding is non-recourse, there is no financial risk to you. A portion of your compensation package serves as the collateral, and that’s all we can pursue as payment.
That means no monthly pay structure, no compound interest, no wage garnishment, and no hounding you for payment until the end of time. It also means you don’t have to pay us back at all if you wind up losing your lawsuit. Instead, you keep the funding we provide.
Don’t Get Pressured Into Settling for Less
Even though there are deadlines for filing personal injury claims, no deadlines exist for how long it should take to resolve them. It can take several months and potentially years for your case to finally get settled. Don’t feel pressured into accepting less on your settlement because of financial strain.
Pre-settlement funding gives you the economic cushion and freedom you need to continue to stay in the fight against insurance companies. So instead of caving and accepting a low-end settlement offer, get the money you need now to fight back.
Apply for Your Pre-Settlement Legal Funding Today
If you have current expenses weighing you down while your lawsuit languishes and stalls, it might be time to get help from Tribeca Lawsuit Loans. Apply for pre-settlement legal funding for free by filling out the form on our Apply Now page.