Pre-settlement legal funding from Tribeca Lawsuit Loans is designed to help lawsuit claimants pay their expenses while resolving a lawsuit. A host of different lawsuit types can qualify for pre-settlement legal funding, and it is not restricted to any specific area of law.
Lawsuit loans are non-recourse, which means they are repaid from the settlement or jury award you receive when your case concludes. Therefore, it’s easier to get legal funding for lawsuits more likely to result in compensation awards—regardless of the lawsuit type.
What Lawsuit Types Qualify for Legal Funding?
Clients pursue most pre-settlement legal funding with personal injury claims, but the option is available to most lawsuit cases. Tribeca Lawsuit Loans has provided financial assistance to clients with a wide range of lawsuits, including:
- Employment law
- Qui tam and whistleblower cases
- Car accident injuries
- Medical malpractice claims
- Slip and fall accidents (premises liability)
- Faulty design or manufacture (product liability)
- Injuries covered under the Jones Act
When determining your funding chances, your lawsuit’s status, value, length, and representation are more important than the area of law to which it applies.
Understanding How Pre-Settlement Legal Funding Works
When you are in a serious legal battle, you understand how slowly the wheels of justice can turn. Lawsuits sometimes take months or years to resolve. Meanwhile, you are stuck with injury-related bills, including ongoing medical care and property repair costs, plus your everyday expenses like gas, food, and rent.
This is where pre-settlement funding can help. Essentially, you are pulling from your future settlement or jury award to cover current costs. You can spend the money however you choose, relieving your day-to-day financial pressure and giving your attorney time to negotiate a fair settlement.
How Long Does it Take to Get a Pre-Settlement Loan?
Since repayment is not tied in any way to your personal finances, we won’t have to take the time to investigate your bank statements or proof of income. For this reason, pre-settlement loan approvals can occur much faster than with other types of loans.
Specific timelines for funding will vary depending on how quickly your attorney provides the information we request. Once you are approved, Tribeca Lawsuit Loans can have anywhere from $500 to $1,000,000 in your bank account in as little as 24 hours.
Repaying Your Pre-Settlement Legal Funding
While the best part of pre-settlement legal funding is undoubtedly the money itself, a close second is that it functions as non-recourse debt. “Non-recourse” means that the lender (i.e., Tribeca Lawsuit Loans) cannot pursue repayment from anything other than the collateral associated with the funding.
In other words, the most we can take as repayment for your pre-settlement legal funds is the agreed-upon percentage of your eventual compensation package. There are:
- NO monthly payments.
- NO bank account withdrawals.
- NO credit score repercussions.
Once your case settles or concludes in court, your attorney sends a payment to Tribeca Lawsuit Loans for the repayment amount. You keep the rest, and you don’t have to lift a finger to write a check or remember monthly payments.
Here’s the best part: if you end up losing your lawsuit and are left without compensation, you don’t have to repay us at all!
Important Lawsuit Loan Qualification Factors
Though your lawsuit type doesn’t necessarily affect your ability to get pre-settlement legal funding, a few other factors do. These qualifying factors revolve around the viability and value of your claim.
Claimant Status
Pre-settlement legal funding is based on the assumption that you are pursuing an eventual compensation package.
If you are the lawsuit’s at-fault party, you do not stand to collect a settlement or jury award; therefore, pre-settlement legal funding would not apply to your case.
Representation by an Attorney
Having attorney or law firm representation increases your chances of receiving significant compensation. For that reason, legal representation is a requirement to secure pre-settlement legal funding from Tribeca Lawsuit Loans.
We will deal directly with your lawyer when it comes time for repayment, making it easier on you. Your lawyer must:
- Be hired on contingency, which means he or she only gets paid if you win your case.
- Give his or her consent to your lawsuit loan arrangement.
- Agree to pay your loan back out of your judgement proceeds.
A Strong Likelihood of Collecting from the At-Fault Party
Even if there is a good chance that you’ll win your lawsuit, there’s no guarantee that the defendant will pay the judgment.
For us to approve your legal funding application, we will need to confirm that the at-fault party in your case has the ability to satisfy the judgement. Generally, this means that he or she must have an insurance policy that will cover the costs of your compensation.
Fill Out a Pre-Settlement Legal Funding Application for FREE
Regardless of your type of lawsuit, legal funding from Tribeca Lawsuit Loans is within your reach. Pre-settlement funding can relieve your financial burdens while your case drags on, and it costs absolutely nothing to apply.
Please fill out the form on our Apply Now page to get started. Then, if additional information is needed, we will contact you or your lawyer with any questions we have. Or, to speak to a representative of Tribeca Lawsuit Loans, call our office today.