Lawsuit loans have been decried by some media outlets, like the New York Times, for their risk. However, the term actually applies to a wide range of lending products, some of which are much safer than others. For example, Tribeca Lawsuit Loans specializes in providing pre-settlement legal funding to people in the midst of lawsuits. This type of funding is totally safe, as it is non-recourse debt and the lender (i.e. Tribeca Lawsuit Loans) takes on all the risk. Essentially, this is a form of lawsuit loan that provides funding today in the expectation of repayment from your eventual settlement or jury award in your case.
Think of pre-settlement legal funding as a way to borrow forward from your future self. By getting the money you deserve now, you allow your attorney the time they need to pursue appropriate compensation instead of the lowball settlement offers you’re likely to get from the opposing party. You also can meet your personal expense needs, such as:
- Replacing wages lost due to injury
- Paying medical bills
- Making rent or mortgage payments
- Purchasing necessary items like gas or food
Tribeca Lawsuit Loans can provide you with anywhere from $500 to $1,000,000, depending on the facts of your case. Applying is totally FREE and is as easy as filling out the form on our Apply Now page. For more information on the pre-settlement legal funding process, or to discuss any concerns you may have, call our office at (866) 388-2288.
How Pre-Settlement Legal Funding Is Better than a Lawsuit Loan
Traditional loans can put you on the hook for perpetual monthly payments until your owed amount is paid off. With recourse debt, loans often hold you (the borrower) personally liable for the full amount you owe. In addition to suffering under exorbitant compound interest rates, you can be forced to pay back the debt out of your personal finances. That means the lender could feasibly pursue repayment from you indefinitely, even going so far as to garnish part of your paycheck.
On the other hand, pre-settlement legal funding from Tribeca Lawsuit Loans functions as non-recourse debt. This puts all the risk on us rather than on you, as you are not held personally liable. With non-recourse funding, the most the lender can take as repayment is the collateral associated with the loan. In this case, that collateral is a portion of your eventual settlement or compensation package.
Benefits of Non-Recourse Debt
When you get pre-settlement legal funding from Tribeca Lawsuit Loans, you can rest assured that you are taking on completely safe and risk-free debt. Here are some of the benefits you can expect:
- NO credit check, since approval is not based on your personal financial situation
- NO monthly payments, since repayment comes in a lump sum from your eventual compensation package
- NO repayment at all if you lose your case
That’s right. If you wind up not winning your claim, you do not have to pay us back. You keep the funding and we take the hit. See? No risk!
Cases that Qualify for Pre-Settlement Legal Funding
Tribeca Lawsuit Loans has a high case acceptance rate of 94%, since our goal is to help as many people as possible pursue the justice they deserve. Typically, cases that qualify for this type of funding include situations that involve some form of harm suffered because of the actions or negligence of another person or business. “Harm,” also known in the legal world as “damages,” can come in a variety of forms, including:
For example, if you are physically injured at work, you might be able to sue for compensation. If you are wrongfully terminated from your job, that can count as financial or emotional harm, and you might qualify for a lawsuit. Regardless of the type of harm, most of these kinds of cases may qualify for pre-settlement legal funding.
Types of Cases We Have Funded
At Tribeca Lawsuit Loans, we have helped fund the cases of clients with a wide variety of claim types. These include, but are not limited to, the following:
- Auto accident claims
- Employment or Labor Law cases
- Whistleblower claims
- Cases related to the Jones Act
- Medical malpractice claims
- Defective or dangerous drugs claims
- Product liability
Additionally, we require that the cases we fund involve an attorney. That’s because we work directly with your lawyer or law firm when it comes time for repayment. Here’s how that process works.
- Your attorney receives a check for the settlement or jury award amount.
- Your attorney writes a check for the repayment amount to Tribeca Lawsuit Loans.
- That’s it!
By working with a lawyer, you also put yourself in a much better position to get the compensation you deserve. Time and time again, people represented by qualified legal counsel do much better off in a settlement negotiation or trial than people who represent themselves.
Apply for Lawsuit Funding Today for FREE
If you have a lawsuit that you believe qualifies for pre-settlement legal funding, get the money you need by applying today for FREE. Tribeca Lawsuit Loans has a high case acceptance rate of more than 9/10 applications, and we can have up to $1,000,000 in your bank account within as little as 24 hours after you are approved.
Fill out the form on our Apply Now page to get started. Make sure to include information about your case, the identity and contact information of your law firm or attorney, and your expected compensation amount. If you have any questions, we’re happy to help. Just call us toll-free at (866) 388-2288 and a member of our team will assist you.