When you are in the midst of a lawsuit, settling your case can take a significantly long amount of time. Bills may come due, you may start to feel the pressure of lost wages due to your injury, and a host of other complications can make your life stressful while you wait for the wheels of justice to turn. Pre-settlement legal funding is a form of cash advance that draws from your future settlement or jury award in order to give you the financial freedom you need to hold out for an appropriate compensation package. However, it’s common for people to wonder how long they have to wait before they start collecting pre-settlement funding.
The good news is that you don’t “start” collecting this funding at all — you get it all in one lump sum. With Tribeca Lawsuit Loans, you can have up to $1,000,000 in your bank account within as little as 24 hours after we’ve approved your funding request. For approval, we look into several factors pertaining to your case, such as:
- The amount of time you expect your case to take
- Your expected settlement amount (including a list of your legal damages)
- Name and contact information for your attorney or law firm
If you need monetary assistance to wait out the negotiation process, cover your expenses, and take away the pressure placed on you by the opposing party and their attorneys, pre-settlement legal funding could be the answer to your needs. Fill out the Tribeca Lawsuit Loan Apply Now form on our website to start the process and have money in your bank account in as little as 24 hours. You can also call us for any questions or concerns by dialing (866) 388-2288.
Why Pre-Settlement Funding Is Better than a Loan
There has been considerable literature published in the past few years on the risks and dangers of lawsuit loans. While some lenders engage in sketchy or unethical practices that can tie up borrowers with repayment for years, pre-settlement legal funding from Tribeca Lawsuit Loans is not actually a loan at all. It is better understood as a cash advance on the eventual settlement or jury award you receive as compensation in your claim. This has several ramifications that make pre-settlement legal funding a much better option for people in the midst of a strenuous lawsuit.
No Risk to You
Perhaps the most important aspect of pre-settlement legal funding is that it comes at no risk to the borrower. This is true for a variety of reasons, but they all stem from the fact that this type of funding is considered non-recourse debt. All debt can be split into two categories: recourse and non-recourse. Unlike recourse debt, the lender is strictly limited on how they can pursue repayment for a non-recourse debt situation. The most the lender can claim as repayment is the collateral associated with the loan. For pre-settlement legal funding, that collateral is a portion of your eventual compensation package.
Even if you do not earn enough compensation to cover the full value of your pre-settlement legal funding, there is no other avenue of recourse that we, the lender, can take for repayment. That means there is NO:
- Monthly payment plan
- Garnishing of your wages
- Pursuit of repayment out of your personal finances
Unlike a loan, you don’t always have to repay your pre-settlement legal funding. If you wind up losing your lawsuit, you don’t have to pay us back at all!
Easier Qualification Process
Since loans and other forms of financial assistance are tied to your personal finances (and you are held personally liable for them), the qualification process can be stringent and may leave you out to dry. With pre-settlement legal funding from Tribeca Lawsuit Loans, the qualification process is much easier. We DO NOT have to look into your personal finances, since repayment comes not from you but from your settlement or jury award.
- NO credit checks
- NO need to look at your bank statements
- NO invasive questions about your family’s financial situation
Instead, the qualification process centers on details about your lawsuit, the damages you’ve received, the estimated length of time before your attorney expects to arrive at an acceptable settlement agreement, and the amount of compensation you are expected to receive.
At Tribeca Lawsuit Loans, we have a 94% case acceptance rate!
Types of Cases that Warrant Pre-Settlement Legal Funding
Even though we have such a high acceptance rate at Tribeca Lawsuit Loans, there are still some requirements you must meet in order to be eligible for funding. We require all clients to be represented by an attorney or law firm. Not only is that because we work directly with your lawyer when it comes time for repayment, but it’s also just a good idea in general. Studies show that clients who have attorney representation make significantly more in compensation (on average) than their counterparts, even after attorney fees are thrown into the equation.
If you have a lawsuit that centers on the harm done to you through the actions or negligence of another individual or corporation, you likely qualify for pre-settlement legal funding. Previous clients of Tribeca Lawsuit Loans have had cases like:
- Car accidents
- Slip and fall cases
- Product liability
- Defective drugs
- Medical malpractice
- Qui Tam or whistleblower claims
- Employment and Labor Law violations
Get the Money You Need Through Pre-Settlement Legal Funding
It’s time to take control of your lawsuit settlement. If you are ready to reduce the pressure of incoming bills and shrinking budgets while you wait for the compensation you and your family deserve, turn to pre-settlement legal funding from Tribeca Lawsuit Loans.
Call our office with any questions or concerns about the funding or repayment process by dialing (866) 388-2288. To get started, simply fill out the form on our Apply Now page. After approval, you can have anywhere from $500 to $1,000,000 in your bank account in as little as 24 hours!