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Is Pre-settlement Funding a Loan?

Pre-settlement funding is technically not a loan but an investment in the anticipated settlement of your lawsuit. Pre-settlement funding has distinct characteristics that set them apart from regular loans. 

A Legal Financier Invests in Your Lawsuit

A pre-settlement loan financier believes in your lawsuit and wants to help you reach the settlement you deserve. In doing so they are preventing you from taking a reduced earlier settlement because you are in need of cash. The anticipated settlement is enough for them to issue you with a cash advance in the expectation that they will get it reimbursed from your settlement. 

Purpose of the Pre-settlement Loan

In contrast to standard loans, a pre-settlement loan is to offer financial help to plaintiffs who are undergoing a lawsuit. They can use the cash advance however they see fit. These pre-settlement loans help you financially after you have undergone an injury or an injustice. Perhaps you had a traumatic car accident, leaving you without a car to get to work, or God forbid needing urgent surgery. Or maybe you have developed a horrible side effect from a prescription drug manufactured by a pharmaceutical company.

The following is a shortlist of different types of lawsuits Tribeca Lawsuit loans invest in. It is not an exhaustive list, therefore get in contact if your specific case is not mentioned on our website.

More Differences Between A Pre-settlement Loan And A Loan

Applying for a personal loan will leave you with monthly repayments which you do not have with a pre-settlement loan. As pre-settlement loan applications are for plaintiffs only, you need to already have an attorney working on your legal claim, and your court proceeding needs to have commenced. 

In contrast to loan applications, your credit score is never checked. Neither will your income be verified to check if you can make repayments. Tribeca Lawsuit Loans looks at how robust your legal claim is by assessing if the legal theory is well built and the evidence is non-disputable. The reason a legal financier will look at the overall value of your case and the probability of reaching a settlement is that these determine the return of their investment. It is therefore that your credit or even your work history is not important. 

You are eligible to apply as long as you have an attorney and are in the midst of a court case.

Why Am I Not Expected To Repay In Case I Lose?

One of the most important aspects of a lawsuit cash advance is that it is considered risk-free. It comes in a non-recourse package, which is provisioned in the pre-settlement loan’s contract, stating that you are only obligated to repay the loan when you win. Regular loans are always of a recourse nature, meaning that you are always accountable for the entire sum plus interest on the loan that you have taken out. 

This puts you at ease that no matter what, your bills are covered, your financial stress is reduced so you can get better and recuperate from your injury, and have the added reassurance that in case you do not win your lawsuit, you will never be expected to repay Tribeca Lawsuit Loans’ investment in your case. 

How Do I Apply?

You can fill out the online application form or give Tribeca Lawsuit Loans a call on 866-388-2288 for a no-commitment conversation. 

To go ahead with the application you need to commence communication between us and your attorney who will send us all the relevant information to support your case and once approved we can have the cash advance of the pre-settlement loan sent to your bank account within 24 hours.

Call us now on 866-388-2288 or fill out the online form.

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