What Can I Use Pre-Settlement Funding On

What Can I Use Pre-Settlement Funding On?

Tribeca Lawsuit Loans provides pre-settlement legal funding to clients in the midst of the often long and drawn-out lawsuit negotiation process. More akin to a cash advance than a traditional loan, pre-settlement legal funding is money you can use today with the expectation of repayment once you receive your compensation package at the end of your case. Once it’s in your bank account, that money is yours to use as necessary. Typically, clients use their funds to replace lost income as well as to pay for items like:

  • Medical bills
  • Clothes
  • Food
  • Court costs
  • Rent
  • Mortgage payments

There is no limit to what you can spend your pre-settlement legal funding on. Additionally, it usually is not taxable, since it is tied to your non-taxed compensation package. However, using your funding to make investments would also move that money over into the taxable category.

If you are in the middle of a lawsuit, consider getting pre-settlement legal funding to help ease your financial burdens while you wait for the compensation you deserve. Call Tribeca Lawsuit Loans at (866) 388-2288 to speak with a member of our team about any questions or concerns you may have. Fill out the form on our Apply Now page for FREE to get the process started.

How to Get Your Pre-Settlement Legal Funding

Our process at Tribeca Lawsuit Loans is simple and requires little effort on your part. First, consider the kind of case you have. While we have a 94% case acceptance rate, there are some requirements you must meet in order to be eligible for pre-settlement legal funding.

Eligibility Requirements

Pre-settlement legal funding is only for cases that involve a lawsuit in which you have been harmed by the actions or negligence of another person. Examples of cases we’ve funded before include:

  • Personal injury claims (such as car or motorcycle accidents)
  • Medical malpractice incidents
  • Qui Tam or whistleblower lawsuits
  • Jones Act cases
  • Product liability claims
  • Defective or dangerous drug claims

Still, this is just a smattering of the kinds of cases that qualify for pre-settlement legal funding. If you are unsure, remember that applying is FREE, so there is no harm in checking your eligibility.

Additionally, we want all our clients to be represented by an attorney. Not only does this give you a better chance at earning the true value of compensation you deserve, but it also enables us to provide an easy, no-stress repayment process. We work with your lawyer or law firm when it comes time to repay your pre-settlement legal funding. That way, you don’t have to worry about missing any monthly payments. Your attorney sends us a check for the agreed-upon amount and that’s the end of the matter!

What to Include in Your Application

Pre-settlement legal funding is not a loan in the traditional sense. Since it isn’t based on your personal finances and operates as non-recourse debt, there is no risk to you. We also do not need to run a credit check or perform an invasive deep dive into your financial history. Instead, you should include information in your application like:

  • The name and contact information of your attorney or law firm
  • Details about your case type
  • The expected duration of your case
  • Your expected settlement amount or jury award (based on the damages you suffered)

Repaying Your Pre-Settlement Legal Funding

The repayment process is one of the best parts of the pre-settlement legal funding process because, at Tribeca Lawsuit Loans, it is so easy. Below is a short outline of how the usual process works.

  1. After negotiation, you reach a settlement arrangement or your case resolves at trial.
  2. Your attorney receives a check for the compensation amount from the at-fault party.
  3. Your attorney writes us a check for the agreed-upon repayment amount.
  4. After any lawyer’s fees, you keep the rest!

Since pre-settlement legal funding is non-recourse, there is no financial risk to you. A portion of your compensation package serves as the collateral, and that’s all we can pursue as payment. That means no monthly pay structure, no compound interest, no wage garnishment, and no hounding you for payment until the end of time. It also means you don’t have to pay us back at all if you wind up losing your lawsuit. You keep the funding!

Apply for Your Pre-Settlement Legal Funding Today

If you have current expenses weighing you down while your lawsuit languishes and stalls, it might be time to get help from Tribeca Lawsuit Loans. Apply for pre-settlement legal funding for FREE by filling out the form on our Apply Now page. For any questions, issues, or concerns about the funding process, give us a call toll-free at (866) 388-2288.

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