What Is Pre-Settlement Funding & How Does It Work?

pre-settlement funding

Waiting for the settlement of personal injury lawsuits can be a lengthy process. You might end up spending months or years in negotiation before getting the lawsuit settlement money you deserve. While both you and your lawyer navigate the legal process, your living expenses and other bills will start to add up. This can put a lot of financial pressure on personal injury victims.

Defendants and their insurance companies are all too aware of this, and will offer an unfairly low settlement to desperate plaintiffs. But with pre-settlement funding a.k.a. a lawsuit loan, you can cover today’s expenses by drawing from tomorrow’s settlement.

Tribeca Lawsuit Loans is a reputable lawsuit funding company that has offered financial help to thousands of victims. If you have any questions or would like to clarify the process by speaking to a live person, call our office at (866) 388-2288 or click here to Apply Now!

What Is Pre-Settlement Funding?

Pre-settlement funding is like a cash advance on the future compensation or settlement of your lawsuit. Pre-settlement funding is also known as a pre-settlement loan, but it’s not a traditional loan. Its terms of repayment and the source of repayment are different.

Pre-settlement legal funding is a non-recourse loan, also known as non-recourse funding. This means that repayment of your lawsuit loan is tied to what you get from your eventual compensation package. Because of how pre-settlement funding works, your personal finances can’t be pursued for repayment.

That’s where pre-settlement loan companies like Tribeca Lawsuit Loans differ from credit companies or banks, which lend out recourse loans or traditional loans. The most that pre-settlement funding companies can recover with a non-recourse loan is the agreed-upon collateral. Unlike with traditional loans, your personal property like your home, your car, or other assets will never be demanded as collateral for repaying a pre-settlement funding company.

This is clearly stated during the application process to protect consumers. The rights and obligations of both a pre-settlement funding company and a borrower are strictly regulated by enacted legislation.

Why Apply With Tribeca Lawsuit Loans?

Apply with Tribeca to ease your financial burdens while you’re waiting for your settlement. We can provide pre-settlement funding for immediate financial relief while you navigate the litigation process. Consult us today to find out your options for borrowing money from our pre-settlement funding company.

Unfortunately, there are some lawsuit loan companies that only offer cash advances at an unfairly high interest rate. Other funding companies may charge hefty funding fees as part of the approval process. Still others refuse to give affordable settlement funding if you live in an at-fault state and you were partially at fault, even if you suffered injuries.

Without the help of a trustworthy pre-settlement funding company, some victims end up spending most of their compensation to repay lawsuit funding. But Tribeca is a different funding company. Here’s what you can expect when you get lawsuit funding from us:

  • A simple, transparent application process
  • No hidden fees
  • Fair interest rates
  • Responsive client support
  • No repayment of your lawsuit funding if you lose your case

How Much Does Pre-Settlement Funding Cost?

Pre-settlement legal funding doesn’t cost you anything until your case is settled. If you lose your case, you don’t have to repay your legal funding loan. Pre-settlement funding is basically an advance on your final settlement, and you only repay what you’ve borrowed once you’ve gotten compensation.

Types Of Cases We Fund

Wondering if your lawsuit merits a pre-settlement cash advance? Our pre-settlement funding company provides legal funding to qualified accident victims facing a personal injury case such as:

However, we don’t simply fund personal injury cases for accident victims. Other types of cases may also qualify for a lawsuit cash advance from our pre-settlement funding company, such as:

This is by no means an exclusive list of cases that qualify for pre-settlement funding from Tribeca. Contact us for a free consultation if you’re seeking pre-settlement funding for a pending lawsuit. After we learn more details about your circumstances, we can tell you if your case can be covered by our pre-settlement funding options.

How Do I Qualify For Pre-Settlement Funding?

You can qualify for pre-settlement funding if you meet these basic qualifications.

  • You’re at least 18 years old.
  • You have filed a lawsuit or are planning to file a lawsuit
  • You are represented by a contingency-based lawyer or law firm.

Unlike other lending entities, we offer the following perks that make applying much easier:

  • No credit check
  • No income threshold
  • No employment verification
  • No valuation of personal assets

The biggest factor that determines your eligibility for lawsuit funding is your case’s quality. If it’s clear from the facts that you were the victim of the defendant and their insurance company accepts liability, you can qualify for larger immediate cash advances with us.

Can I Get Pre-Settlement Funding Without A Lawyer?

No, you can’t get pre-settlement funding without a lawyer. If a funding company doesn’t ask for your attorney’s consent to apply, consider this a major red flag. No reputable company will offer you an advance without legal representation. This is also in the interest of lending companies, as lawyers win cases more consistently and get larger settlements compared to victims who represent themselves.

If you have a lawyer but they have concerns about applying for pre-settlement funding, listen carefully to their reasons. However, note that your attorney can’t prevent you from getting a lawsuit loan.

The final say on getting financial assistance from us is always up to you. If you think lawsuit funding is in your best interest, you can always hire a new lawyer.

How Much Money Can I Get In Pre-Settlement Funding?

The amount of money you receive in litigation funding depends on the specifics of your legal claim. Those who stand to make more from their settlement or court award will have a larger pool from which to pull since pre-settlement funds essentially come out of your future settlement package.

Here are some of the factors that can affect how much you receive in legal funding from a funding company:

  • Medical bills and the cost of ongoing treatment
  • The severity of your injuries
  • Current and future lost income
  • Emotional pain and suffering
  • Any property damage you may have sustained

Even if you live in an at-fault state, we’re willing to give financial assistance depending on your contributory fault. At Tribeca Lawsuit Loans, we can provide clients with anywhere from $500 to $2 million. This amount in legal funding depends on the size of any potential legal claims.

We strongly advise that personal injury victims only apply for a pre-settlement loan that isn’t too far from the estimated value of their settlement. By doing so, you’ll get the maximum amount when your lawsuit settles instead of using most of your compensation for repayment.

When Will I Get My Pre-Settlement Funding?

Once our funding company has processed and approved your paperwork, you can expect to get your legal funding money in your bank account in as little as 24 hours. Note that if your lawsuit takes longer than expected, we may be able to send you more pre-settlement funding money. However, this depends on a variety of factors and is only available in some cases.

How Can I Spend My Pre-Settlement Funding?

There are no restrictions or requirements in the way that you can spend your lawsuit funding. It’s simply a cash advance with which you can do as you see fit for financial relief.

Spend it on any expenses that crop up while you wait for your lawsuit to resolve, like:

  • Medical bills
  • Upfront costs for legal counsel
  • Daily living expenses
  • Rent or mortgage payments
  • Child care expenses
  • Car payments
  • Repairing or replacing damaged property
  • Replacing lost wages

Settlement funding can relieve a huge financial burden from your shoulders and keep you from accepting a lowball offer. By covering medical expenses and lost wages with a lawsuit advance, you can manage general living costs and give your lawyer more time to work on your case. This will help your lawyer establish and win the fair settlement that you deserve!

How Can Pre-Settlement Funding Help Me Win A Fair Settlement?

Pre-settlement funding can help you win a fair settlement by protecting you from financial pressure. Many people know how long lawsuits can take before they’re finally settled. While the legal system is overworked and needs more help, one of the biggest reasons is that defendants and their lawyers will use every delaying tactic in the book.

Defendants, their law firm, and their insurance companies will often stall negotiations, knowing that this will put you under financial pressure. They’re hoping that this stress will force you to accept a low offer instead of holding out for a fair settlement just so you can cover your increasing expenses.

This won’t be the case if you have pre-settlement funding. With a litigation advance, you’ll have the financial help you need to manage your bills and give your lawyer enough time to get a fair settlement.

It’s in our financial interest to see your court case succeed. After all, if you don’t win your case, you don’t have to pay your pre-settlement funding loan back. This is why we also offer case funding to your attorney in addition to your pre-settlement funding. This extra money can be used to pay for documentation, expert witnesses, and other things you may need to establish your case.

Apply For Pre-Settlement Funding From Tribeca Today

It can be tough to keep your head above water while you’re waiting for your final settlement. As the medical bills and other expenses pile up, injury victims may feel crushed by the financial burden. Sadly, this means many settle for less than the fair settlement they deserve.

If you have a pending lawsuit or plan to file one, get financial assistance from Tribeca Lawsuit Loans. We may be able to provide you with the pre-settlement loan you need to manage your finances and win your legal battle.

Call our office at (866) 388-2288 or get in touch with us via our contact page to speak with a representative. With Tribeca Lawsuit Loans, you can meet your family’s needs today while waiting for tomorrow’s compensation.

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