Waiting months or years for a lawsuit in Alabama to resolve can leave plaintiffs high and dry when it comes to daily bills, mounting medical debt, and other expenses. One safe solution is to get an Alabama lawsuit loan to help make ends meet while you wait for the compensation you deserve.
Tribeca Lawsuit Loans can provide clients with up to $1 million in legal funding in as little as 24 hours after your application is approved. That money can be used however you see fit and is simply paid back when you get your eventual settlement or compensation package.
How Lawsuit Loans Work
Legal funding, lawsuit loans, pre-settlement funding—all these terms refer to the same essential concept. Tribeca provides you with up to $1 million to help you and your family while your lawsuit resolves. Once you win your case, you pay us back the agreed-upon portion of your compensation package and keep the rest.
In this way, you can think of an Alabama lawsuit loan as a form of cash advance on your settlement package. Here’s another significant bonus to getting a lawsuit loan over some other kind of lending practice: since lawsuit loans are non-recourse, you never pay us back out of your own personal bank account. We only get repaid out of your eventual compensation.
Do You Pay Interest on a Lawsuit Loan in Alabama?
Yes, we do charge interest on our lawsuit loans. However, we’re dedicated to the following two promises:
- We’ll always provide you with the best possible interest rate for your situation.
- We only charge simple interest, NOT compound interest like some other competitors.
What if You Lose Your Lawsuit?
Many clients worry about signing a lawsuit loan agreement because they fear losing their lawsuit and being “on the hook” for repayment. Our legal funding is different.
If you lose your lawsuit, you don’t pay us back at ALL. That’s why we say Alabama lawsuit loans from Tribeca are risk-free for you!
Legal Restrictions on Alabama Lawsuit Loans
Lawsuit loans, as well as other types of consumer loans, are regulated by the Alabama Consumer Credit Act “Mini Code.” Unlike some other states, Alabama sets limits on the amount of financing, charges, and other important aspects of lending. While this makes some companies turn away from providing Alabamians with lawsuit loans, Tribeca is dedicated to helping plaintiffs and abiding by all the state and federal loan regulations.
In short, lawsuit loans are completely legal in Alabama, but there are specific rules on how they must be provided. Additionally, the Superintendent of Banks in Alabama’s State Banking Department can set further regulations and is given leeway to interpret the rules. Tribeca is fully licensed to provide lending in the state and operates according to all applicable laws.
Apply Today for FREE
You can have the money you need in your bank account in as little as 24 hours after approval, so what are you waiting for? There’s no fee to fill out our online application! If you have questions or concerns about the lawsuit loan process in Alabama, call our office at
(866) 388-2288 to speak with a friendly representative.