Louisiana, also known as “The Pelican State,” has a unique culture and colorful history, making it one of the best places to visit.
However, it’s important to note that Louisiana has a fairly high criminal activity. In fact, it has the second highest crime rate out of all the states. Lawsuits are very common in this state to the point that Louisiana lands on the list of “Judicial Hellholes.”
That being said, filing a lawsuit in Louisiana can get really complicated and expensive. Fortunately, Tribeca Lawsuit Loans offers its services and financial assistance in this area.
Don’t know what legal funding is? We can fix that for you. In this article, we will identify what legal funding is and why it’s the right choice to make as you deal with the challenges associated with your lawsuit.
Understanding Legal Funding in Louisiana
Legal funding, also known as lawsuit loans or pre-settlement funding, is a cash advance given to the person wronged or injured (plaintiff) by a funding company in order to help them afford the expenses of a lawsuit.
The funds can also be used to manage their necessary finances at the same time. This allows plaintiffs to deal with their financial struggles and pay the bills as they are waiting for the case to reach a settlement.
Despite being referred to as a “loan,” legal funding differs from traditional loans. When you choose a traditional loan, you are financially obligated to repay them whether or not you win the case.
With legal funding, the repayment is non-recourse, allowing the plaintiff to be free of future financial obligations should they unfortunately lose the case. Basically, you only get to repay if you win the settlement. Otherwise, you are not liable for the debt.
Why Choose Tribeca Lawsuit Loans in Louisiana?
Tribeca Lawsuit Loans is one of the most trusted funding companies in the state. For years, we have provided and continue to provide financial assistance with high-quality service to different places, allowing us to develop the necessary knowledge and expertise in handling various cases.
Not only that but by choosing Tribeca Lawsuit Loans, you can also expect the following:
- Quick and hassle-free application process
- Funding decisions within 24 hours
- Receive the funding in as little as 24 hours (if your application gets approved)
- Low and competitive rates
- No hidden fees, monthly charges or any other unnecessary payments
- Repayment is non-recourse. You can only repay us if your lawsuit settles successfully.
- Clear and straightforward terms and conditions of the loan.
The Distinct Advantages of Legal Funding
There are several reasons why choosing legal funding is the optimal choice for plaintiffs who are struggling to deal with their legal expenses.
- Plaintiffs get to access their funds within 24 hours
- It alleviates the stress caused by the plaintiff’s financial burden
- It gives the plaintiff the ability to pursue their legal claims without having to worry about their financial expenses
- The funds can be utilized to pay for several other essential living expenses.
- Repayment is contingent upon winning the case. This means if you lose the lawsuit, you do not have any obligation to repay the funds provided.
How Louisiana Legal Funding Works
The Application Process
We understand the stress and pressure of having to be involved in a lawsuit. We seek to provide financial assistance to our clients as swiftly as possible, which is why we ensure that we offer our clients a quick and straightforward application process.
Here at Tribeca, the application process is simple. You can easily access our application form online and complete it within only a couple of minutes.
There will be no credit checks, income verifications, asset evaluations, hidden fees or money up-front. We will only ask you to provide the necessary information related to your lawsuit as well as the contact information of your legal representative.
Approval and Fund Disbursement
We also value the reputation and protection of our company, which is why we need to make sure that we are providing our services to the right people.
Once our reliable team of legal experts receives your application, they will review the details of your case thoroughly to determine your eligibility for the funding as well as the amount of funding our company can safely provide.
Repayment Terms and Conditions
The repayment method is contingent on the successful outcome of the lawsuit. This means that once you receive the funds, you don’t have to repay us on a monthly basis.
You can only pay us once the case is settled and won. If you lose the case, then no form of repayment would be necessary.
However, if the case is settled in your favor, you will have to repay the funds and any other agreed-upon fees. But no need to worry because you do not have to go through your pockets.
Our claim is a percentage attached to the amount of the settlement that you’ll receive, so we won’t personally collect anything from you.
Louisiana Laws and Regulations on Legal Funding
Before filing a lawsuit, there are certain legal principles in Louisiana that you should be aware of, including:
Statutes Of Limitations
The statutes of limitations prescribe a limited period in which you can file a claim, depending on the specific offense that you suffered. Louisiana is unique in that almost all civil actions have a one-year statute of limitations. The exceptions are the three-year limits on collections of rent and debts and a 10-year statute of limitations for contracts and judgments.
Pure Comparative Fault
Moreover, you also have to consider comparative fault. Louisiana employs the pure comparative fault rule, which means that you can recover damages even if you were 99% at fault for the accident, but the number of damages you receive will be reduced by the percentage of fault.
For example, if you were awarded $100,000 in damages but the court found you to be 50% at fault for the accident, your award will be reduced to $50,000.
Tribeca’s Track Record in Louisiana
For years, Tribeca Lawsuit Loans has proven to be a reputable funding company. We offer funding for a variety of cases in all of Louisiana, including Lafayette, New Orleans, Shreveport and Baton Rouge.
We fund a wide range of cases, including:
- Personal injury
- Car accidents
- Product liability
- Medical malpractice
- Faulty drugs or medical devices
- Sexual abuse
- Employment disputes and violations
- Civil rights lawsuits
Frequently Asked Questions about Louisiana Legal Funding
What Is Legal Funding?
Legal funding has many names. It’s also known as a “lawsuit cash advance,” “pre-settlement funding,” or a “litigation loan,” but they all mean the same thing.
It’s an amount you get on the potential settlement you may receive from your lawsuit. It’s a cash advance given to you in order to help you cover any costs related to your case.
Are Lawsuit Loans Safe?
Yes, lawsuit loans are completely safe. At Tribeca, we ensure that our services are legal and completely risk-free.
How Long Does It Take To Receive Funding?
It’s always our hope that you don’t come to us as a last resort, but in case there’s an extreme urgency for our service, we strive to provide financial assistance quickly to our clients in need.
We are dedicated to providing funding decisions in less than 24 hours, and the money will be sent to your account within the same timeframe.
Do I Need To Hire A Lawyer?
It’s always best to hire a lawyer for your case so there can be a professional by your side who can navigate the legal system with ease in Louisiana.
On our end, we will work closely with them as soon as you start your application. Our team and your lawyer will work tirelessly for your best interests.
Get Started with Your Louisiana Legal Funding Today
The advantages of legal funding go beyond providing money when you need it. It’s all about reducing your risks and creating a fair playing field as you go up against powerful people and companies with deep pockets.
We provide a secure and worry-free solution for obtaining the funds you require – we can be your lifeline during this challenging time.