Salt Lake City lawsuit loans can make recovering from damages someone else inflicted on you a little easier. They can also put you in a better position to win the maximum value of your settlement. Without having to worry about how you’ll pay your bills, you can win your case.
Defendants in settlement negotiations often bet on plaintiffs running out of money to fight their case. They can face crushing medical expenses and relentless living expenses, rent, and mortgage payments. Legal funding can relieve much of this pressure and allow you to fight.
What Is Pre-Settlement Funding?
Pre-settlement legal funding, also known as a lawsuit loan, relies on a basic concept: you’re waiting on money from your settlement, so why not get it now? Legal funding allows plaintiffs to borrow against their expected future settlement. This can be a lifesaver, as the money from the settlement a plaintiff would otherwise lose can be used when they need it most.
With a lawsuit loan, you can get the extra money that you need to stave off the financial pressure that could force you to settle for less than you could win. What’s even better is there’s absolutely no risk for borrowers of lawsuit loans. If you lose your case, you don’t have to pay anything back, making this a great financing option for many plaintiffs.
How Does Legal Funding in Salt Lake City Work?
In practice, Salt Lake City lawsuit loans are a fairly straightforward concept. First, you’ll apply for a lawsuit loan with a legal funding company, which specializes in offering this type of financing. Next, they’ll speak with your lawyer and review your case, and if they approve you, will offer a portion of your expected settlement up-front.
And that’s it – legal funding in Salt Lake City doesn’t require a credit check or employment verification. Once you win your case, your legal funding will be repaid from your settlement, since the IRS classified it as a nonrecourse debt. You won’t ever owe more than your legal funding is worth, making it a truly risk-free financing option.
How Do You Qualify For Legal Funding in SLC?
In general, if you’ve filed a lawsuit against someone in Utah and you are waiting on a settlement, you’ll face a much easier time qualifying for legal funding than you would a typical loan or mortgage. Here’s what a legal funding will consider when determining if they want to offer you a lawsuit loan:
- Whether or not you have a pending settlement
- The quality of your case
- Whether you’ve hired a lawyer who works on a contingency fee basis
That’s it – all a legal funding company cares about when determining if they’ll offer you pre-settlement cash advance is if you can win your case and if your lawyer approves of legal funding. The latter step is especially important, as legal funding is how your lawyer will be paid. Unfortunately, if they don’t want to receive legal funding, we won’t be able to work with them.
What Kinds of Cases Does Legal Funding Cover?
A lawsuit loan in Salt Lake City, UT, can be used for a wide variety of cases. In short, if you have a pending lawsuit or are waiting on a settlement, it’s likely that you can obtain legal funding for it. Here are some of the common types of cases that qualify for pe-settlement legal funding:
- Personal injury
- Car accidents
- Medical malpractice
- Defective devices
- Workplace injuries
- Wrongful death
- Jones Act
- Whistleblower/Qui Tam cases
If your specific type of lawsuit isn;t listed here, don’t worry. Speak with a reputable legal company to find out if your case is covered and what legal funding options are available to you.
Get a Lawsuit Loan Today in Salt Lake City
Tribeca Lawsuit Loans offers affordable legal funding for clients across the Salt Lake City area. We serve clients nationwide and can offer you up to $1 million in legal funding within 24 hours of the approval of your application. In just a few hours, you can get the financing you need to fight for the justice you deserve.
We make it easy to apply for legal funding, and it takes just minutes to do so on our website or with one of our live agents. Contact us today to learn more about what we have to offer and if we’re the right fit for you. You could soon be on your way to winning the maximum legal settlement with our help.