When Do You Have to Start Repaying Pre-Settlement Funding?

Getting pre-settlement legal funding from Tribeca Lawsuit Loans is a risk-free way to provide for your expenses, pay off medical debt, and replace lost wages as you wait for your lawsuit to resolve. Some clients may worry about the repayment process and wonder when they have to start repaying the funding they receive. However, the good news is that you don’t have to “start” repaying the funding at all. Instead, the entirety of your repayment is taken out of the eventual compensation package you receive at the end of your lawsuit. In this way, you avoid:

  • Monthly payments
  • The potential to default on your repayment
  • The hassle of coordinating payment plans

Tribeca Lawsuit Loans works directly with your attorney at the conclusion of your case. This way, you don’t have to worry about repayment at all. Instead, your lawyer or law firm writes us a check for the agreed-upon repayment amount (with simple interest, rather than compound interest) once they receive the check for your compensation package from the opposing party.

If you are in the midst of a lengthy lawsuit negotiation process and have bills piling up, it might be time to consider pre-settlement legal funding. Get the money you need now so you can hold out for an even larger, more appropriate compensation package later. To discuss the funding or repayment processes with one of our representatives, call Tribeca Lawsuit Loans today at (866) 388-2288. You can apply for FREE via the form on our Apply Now page.

Who Can Get Pre-Settlement Legal Funding

Tribeca Lawsuit Loans has a 94% case acceptance rate, so we are in the business of helping a wide variety of people get the pre-settlement legal funding they need. Still, there are requirements that can affect your eligibility for such funding. Specifically, we require all our clients to be represented by a lawyer or law firm in order to be eligible. This is for a variety of reasons, not least of which is the fact that we work directly with your attorney when it comes time for repayment. This allows us to have a repayment process that is stress-free for you and requires no effort on your part.

Additionally, it’s also just a good idea to have a lawyer on your side in any legal claim. Studies from legal research groups like the Insurance Research Council show that claimants in civil lawsuits who are represented by experienced legal counsel earn, on average, up to four times as much compensation as their counterparts. An attorney gives you the best chance of winning your lawsuit. Since we are only paid back when you win, we want to make sure we promote the practices that put you on the soundest legal footing.

Types of Eligible Cases

Most civil lawsuits will qualify for pre-settlement legal funding. Typically, these cases revolve around the concept of damages done to you by another person or organization, whether through that entity’s actions or through their negligence. Although personal injury cases like car accidents or slip and fall incidents are common examples, there are a host of other claims that may be eligible for pre-settlement legal funding. Some of those include:

  • Cases related to the Jones Act
  • Whistleblower claims
  • Medical malpractice cases
  • Lawsuits against pharmaceutical companies for defective drugs
  • Claims related to employment or labor laws

Why Pre-Settlement Legal Funding Is Safe for You

Some clients may be worried about taking on what is perceived to be additional debt. However, pre-settlement legal funding is risk-free. Though there have been articles written by media outlets like the New York Times regarding risks associated with the lawsuit lending industry, pre-settlement legal funding avoids these issues. Tribeca Lawsuit Loans is dedicated to providing risk-free, safe funding options for clients in need.

The Issue of Interest

Many of our competitors charge compound interest rates that grow the longer your lawsuit lasts. This means you can wind up owing massive amounts of money, sometimes even more than you receive in your compensation package. Instead, Tribeca Lawsuit Loans only charges simple interest on the initial funding you receive.

The Issue of Repayment

Additionally, pre-settlement legal funding is non-recourse, which means Tribeca Lawsuit Loans is severely limited in the ways we can pursue repayment. For starters, you are not held personally liable for the debt, so your personal finances are safe. The only items we can take as payment for pre-settlement legal funding is the collateral associated with your debt, which is a portion of your compensation package that you agree to before the funds are provided.

The long and short of this system is that you don’t owe us anything at all if you lose your lawsuit. When you win your case, we simply take a portion of the compensation package and you keep the rest.

Apply for Pre-Settlement Legal Funding for FREE

The online application process for pre-settlement legal funding from Tribeca Lawsuit Loans is totally FREE. Simply fill out the form on our Apply Now page to get started. We’ll need information like the name and contact details of your attorney and the expected compensation you may receive at the conclusion of your case.

If you have any questions or concerns about how pre-settlement legal funding or the repayment process works, feel free to contact Tribeca Lawsuit Loans toll-free at (866) 388-2288. Our team is ready to help you get the funding you need today so that you can hold out for a large compensation package tomorrow.

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