You can get legal funding for any type of personal injury claim. A personal injury case can take years to settle. As you wait for your case to settle, you could face mounting bills and medical expenses, which the defense hopes will force you to accept a lower award.
With legal funding, you can have the money you need from your settlement now. This can allow you to pay your bills and resist the defendant’s pressure tactics. Find out which personal injury cases you can get legal funding for and how it can benefit you.
The Types of Personal Injury Lawsuits We Fund
Some legal funding companies only cover accidents, but we cover a wide range of personal injury lawsuits. If you’ve suffered physical and financial damages due to someone else’s actions, it’s likely that you qualify for legal funding with us. Some of the common types of cases that qualify for legal funding with us are the following:
You should be able to file a personal injury lawsuit as long as you have sustained some significant injury that entitles you to compensation from an at-fault party. Some of the common personal injuries that we fund include the following:
- Broken bones
- Scratches, scrapes, and lacerations
- Soft tissue damage
- Traumatic brain injuries (TBI)
- Burn injuries
- Catastrophic injuries
- Loss of consortium
The liability of the responsible party, your expected medical expenses, and the severity of your injuries will all impact your potential settlement and the amount of legal funding we can offer.
How Does Pre-Settlement Legal Funding Work?
Pre-settlement legal funding is a way to cover your expenses in the present as you wait for your lawsuit to settle or resolve in court. Since you pay back the funding out of your eventual compensation package, it’s akin to borrowing from your future self. As nonrecourse debt, legal funding doesn’t require a credit check, making it easier to obtain than other forms of financing.
The process to obtain pre-settlement legal funding is fairly simple and straightforward. In fact, if you’ve suffered a personal injury, it’s likely that you’re already pre-qualified for legal funding. All you need to do is to apply with a reputable legal funding company and you could have your cash in 24 hours or even less.
Legal funding doesn’t need to be paid back if you lose your case. This makes it a highly attractive alternative to a personal lawsuit loan or credit cards for those who need an extra source of funds as they await the progress of their settlement. However, it’s advised that you only apply for the funding you need at first, as you’ll need to repay less.
Does My Personal Injury Case Qualify for Legal Funding?
If you have a pending personal injury case, it’s more than likely that you qualify for legal funding. However, there are a few basic conditions you’ll need to meet in order to obtain a lawsuit loan:
- You’re older than the age of 18
- You have a physical injury claim against a insured party
- You’ve hired a lawyer working on a contingency basis
You must also be over the age of 18 in order to qualify for legal funding. The party you believe to be responsible needs to be insured so they can actually pay out the amount of your settlement. If you’re filing a lawsuit against an uninsured party, we won’t be able to fund your claim.
Reputable legal funding companies only work with clients who have retained a lawyer. Studies performed by the Insurance Research Council show that injured people who are represented by a lawyer or legal team win their cases more often and tend to receive higher amounts of compensation. A legal funding company will also primarily work through your attorney.
Elements of a Personal Injury Claim
Different personal injury claims can have different fact patterns, but they are all related by a few crucial elements. To have a legitimate lawsuit claim, the following must be true:
- You suffered some sort of physical, emotional, or mental injury;
- Your injury was caused by someone else’s negligence or direct actions;
- The injuries you suffered entitle you to significant compensation.
To qualify for legal funding, we’ll take a look at the specific facts of your case. Then we’ll make a determination on the potential value of your settlement and how much funding we’re willing to offer you. However, the estimated value of your settlement could change as your case progresses, making it important to apply for legal funding at the right time.
Why You May Need Pre-Settlement Legal Funding
Life doesn’t stop just because you have a legitimate personal injury lawsuit, as you’re probably well aware. No doubt you have already begun to feel the deluge of medical bills, lost wages, property repair and replacement costs, etc. That’s not even mentioning the usual bills, like rent and mortgage, gas, food, clothes for your family, utilities, and the like.
The bad news is that lawsuits often take months, or even sometimes years, before they resolve. The worse news is that the opposing side knows this and will often try to extend or delay the lawsuit so you become desperate enough to settle for less than you deserve.
Pre-settlement legal funding is the answer. By getting money now, you can cover these expenses and relieve the pressure that the at-fault party’s stall tactics creates. This can buy your attorney the time they need to negotiate a settlement that adequately and fairly compensates you for your injuries.
Applying for Pre-Settlement Legal Funding
Applying for pre-settlement legal funding is usually a simple process that can take as little as a few minutes. While you can qualify for financial assistance in a variety of personal injury cases, you’ll need to include information about your claim in your application. Most applications will request the following information:
- The name and contact information of your attorney or law firm
- The expected value of your eventual settlement or compensation package
- The expected duration of your lawsuit
- Details about the nature of your injury, damages, and other pertinent factors in your case
With pre-settlement legal funding, all the risk is placed on the lender. In other words, you are not held personally liable for the debt if you lose your lawsuit. However, that means your legal funding company has to be careful and perform due diligence to protect their investors and to stay in the business of helping injured people pursue justice.
Working With Tribeca Is Easy
Virtually any kind of personal injury lawsuit can qualify for pre-settlement legal funding from Tribeca Lawsuit Loans, provided that you are the injured party. There is no application fee to submit your information with us. If you are approved for pre-settlement legal funding, you can have up to $1 million in your bank account in as little as 24 hours.
Remember, since repayment comes directly out of your compensation package at the end of your case (and not out of your personal finances), there’s no need for:
- A deep dive into your financial situation
- Proof of income
- Credit check
Getting pre-settlement legal funding also shouldn’t have any impact on your credit score. There truly is nothing to lose by applying! Fill out the form on our Apply Now page to submit your application.