Ever since reports by the New York Times surfaced in 2017, lawsuit lending has had to protect its reputation. True, there are some lenders out there who engage in unethical practices and trap clients into financial commitments that wind up hurting them financially. However, unlike a traditional loan, pre-settlement legal funding protects the borrower from personal liability. In short, pre-settlement legal funding is different from other kinds of loans. It is tied not to your personal finances, but to the eventual compensation package you receive at the end of your lawsuit. You agree to give Tribeca Lawsuit Loans a portion of your compensation in order to get money in your bank account now.
People with lawsuits get pre-settlement funding for a wide variety of reasons. You can use the money to cover any of your expenses while your lawsuit goes through the often long, tortuous process of settling. That includes:
- Replacing lost wages
- Paying off medical bills
- Covering rent or mortgage while you recover from an injury
- Paying for daily expenses like food and fuel
- School tuition
Tribeca Lawsuit Loans is prepared to provide clients with up to $1,000,000 in as little as 24 hours after approval. If you are in the midst of a lawsuit and need relief now, fill out the application form on our Apply Now page for FREE. Our team will assess your qualifications and contact your attorney or law firm for any additional information we need.
You can also reach our office by calling (866) 388-2288. If you have any questions or concerns about the pre-settlement legal funding process, or how it differs from a traditional loan, one of our representatives will be happy to help you.
How Pre-Settlement Funding Is Better than a Loan
When you take out a traditional loan, you usually have to back the loan with some type of collateral. If for some reason you are unable to pay back the loan, the lender can seize this collateral as payment. But, if you have taken out a recourse loan, the lender could take the collateral and still pursue other forms of payment if the value of the collateral doesn’t add up to what you owe. That can be seriously risky!
Instead, pre-settlement legal funding is non-recourse debt. As the lender, Tribeca Lawsuit Loans does not hold you personally liable for the funds. The funds use a portion of your eventual compensation package as collateral, but we are legally prevented from pursuing repayment out of your personal finances. In short, you pay us back out of the settlement or jury award you receive—not out of your bank account.
Plus, if you don’t win your lawsuit, you don’t have to pay us back at all! Tribeca Lawsuit Loans takes on all the risk in this setup, so you aren’t stuck with repayment you can’t make. We believe that you shouldn’t have to risk your family’s well-being when seeking justice.
Why You Need Pre-Settlement Funding
Lots of people are reluctant to take out a loan, but you don’t have to be anxious about pre-settlement legal funding. It is designed to help you pursue the compensation you deserve. Lawsuits take a long time to resolve in many cases, sometimes even years if the case has to go to trial. In that time, unfortunately, your bills continue to pile up. Whether you’re injured or just caught up in the complexities of your lawsuit, it’s difficult to bring in the income you need to stay afloat.
Pre-settlement legal funding relieves this burden. Essentially, it’s a way of reaching into the future and grabbing a portion of your compensation package to cover your present costs. Not only that, but it helps your attorney combat the tactics of the opposing side in your lawsuit.
In many cases, the opposing side will drag their feet and stall negotiations in the hopes that plaintiffs will be forced to throw in the towel and accept a lower settlement. This is currently the case with ongoing litigation against IVC Manufacturers.
With pre-settlement legal funding, you give your attorney the time they need to negotiate a proper settlement and take the teeth out of the opposition’s stall tactics.
Repaying Pre-Settlement Funding
You repay your pre-settlement funding at the conclusion of your lawsuit. If you have won the lawsuit, your attorney will receive a check for the settlement or jury award amount from the other party. Then, your attorney will write a check for the agreed amount to Tribeca Lawsuit Loans.
That’s it! That is the repayment process. No monthly payments, complex payment plans, or risk of default. Since pre-settlement funds are classed as non-recourse loans, you pay back nothing if you lose your lawsuit. In this way, you have nothing to lose and everything to gain by applying for pre-settlement legal funding.
Apply Today for FREE and Get Your Pre-Settlement Funds
At Tribeca Lawsuit Loans, our application process is totally FREE. If you have a current lawsuit, including personal injury claims, employment law disputes, qui tam or whistleblower lawsuits, or another type of claim, you might be eligible for pre-settlement funding. Simply fill out the form on our Apply Now page and our team will evaluate your qualifications.
If you are approved, you can have up to $1,000,000 in your bank account as soon as possible. A member of our team is also available to speak with you about any questions or concerns you might have regarding the pre-settlement legal funding process. Call (866) 388-2288 to get in touch with us.
Don’t let the opposing side in your lawsuit stall negotiations and force your hand. Get pre-settlement legal funding and take back control of your financial situation.