At Tribeca Lawsuit Loans, we offer immediate pre-settlement funding in The Last Frontier State of Alaska at competitive interest rates to meet the needs of those currently in personal injury and other plaintiff’s lawsuits.
Are you in need of borrowing money from your lawsuit? We have the capacity to advance you any sum from $500 to $2,000,000 in cash, contingent on the value of your injury lawsuit case. We are a top-rated company with numerous positive reviews from past customers, and we maintain an extensive footprint throughout Alaska. A cash advance could be yours in as little as 24 hours. Don’t hesitate, apply today!
Our company’s lawsuit loans (also referred to as litigation funding, lawsuit funding or case loans) can be utilized for any expenditures that emerge while your lawsuit is ongoing and before you receive your rightful compensation from a successful trial verdict or settlement against the defendant. Many clients leverage the funds we disburse for them to cover medical bills, rent or mortgage payments, utility bills, or even everyday expenses like food or transportation.
Secure your funding today by Applying Now! Reach out to our friendly and experienced team at (866) 388-2288 or connect with them using this swift online form, for any inquiries or concerns you have about the pre-settlement financing process. The best part is, no credit check or proof of income is necessary for our lawsuit settlement loans because if you lose your case, you owe Tribeca Lawsuit Loans nothing.
Three Steps To Your Cash Advance
Step 1: APPLY for Lawsuit funding now
Submit your application to us for funding. Our loan application includes:
- No credit check
- No income verification
- No asset evaluation
- No money up-front
- No hidden fees
Step 2: REVIEW
Our fast and proficient team will review your case. We support many different types of cases including personal injury, car accident, premises negligence, workers’ comp, class action and more.
Step 3: FUNDING
Tribeca sends a contract detailing terms of funding. Cash is distributed quickly and securely.
What is an Alaska Lawsuit Loan?
A lawsuit loan in Alaska provides plaintiffs with a financial lifeline during ongoing legal battles. These non-recourse loans, also known as pre-settlement funding, allow plaintiffs to access a portion of their anticipated settlement funds to cover essential expenses while their case progresses.
The loan is repaid solely from the settlement proceeds, ensuring that the borrower’s personal assets and income remain protected. To qualify for a lawsuit loan, plaintiffs must be represented by an attorney and have a strong case with expected damages.
The loan amount is determined by assessing factors such as the case’s strength, anticipated settlement size, and estimated duration. By working with reputable lenders, plaintiffs in Alaska can obtain the financial support they need to level the playing field against defendants’ stall tactics and pursue the compensation they deserve without compromising their financial security.
Are Lawsuit Loans Legal in Alaska?
Yes. Lawsuit loans are legal in Alaska and are endorsed by state courts. Tribeca offers lawsuit funding in this state.
All settlement loans must abide by strict requirements in order to be legal. This is because, across the U.S., the act of “champerty,” by which one person finances another person’s litigation, is illegal under specific circumstances.
Alaska’s Supreme Court continues to uphold its anti-champerty laws in decisions like:
- Wichman v. Benner (1994)
- Deal v. Kearney (1993)
However, the courts in Alaska have not found lawsuit lending companies to be guilty of champerty, which means settlement funding is legal in Alaska. Tribeca is one of the few companies that provides Alaska plaintiffs with the funding they need since we offer loans in a variety of states. We know the laws and abide by industry best practices.
Laws and Regulations for Lawsuit Funding in AK
Average Funding Range
On average, Tribeca’s funding range varies between $500 and $2,500,000, depending on the case value.
Fault Laws
Alaska operates under the Modified Comparative Fault 51% Bar, stipulated by I.C. § 34-51-2-6. This law bars plaintiffs from recovery if they are more than 50% at fault. If under 50% at fault, their damages will be reduced pro-rata.
Statute of Limitations
The statute of limitations in Alaska for filing a lawsuit is 2 years, as per Sec. 9.10.070.
Insurance Policy Limits
The minimum policy limits for bodily injury and property damage in Alaska are as follows: $50,000 bodily injury liability per person, $100,000 bodily injury liability per accident, and $25,000 property damage liability per accident.
UIM Auto Insurance Limits
The minimum Underinsured Motorist (UIM) auto insurance limits in Alaska are defined as 50/100/25 for liability.
Workers’ Compensation Eligibility
Workers are eligible for compensation in Alaska.
While settlement funding can be seen as an act of champerty—an illegal agreement in which a party funds a lawsuit they had no previous interest in to share in the proceeds—Alaska’s stance is more nuanced. The Alaska Supreme Court, despite the common law prohibition of champerty, hasn’t enforced this in any recent litigation funding case, leading to no settlement funding agreements being invalidated on champerty grounds.
Tribeca Lawsuit Loans is a fully licensed provider of legal advances in Alaska. The plaintiffs can use their lawsuit cash advance in any manner they see fit, which can prove valuable for managing debts, medical bills, and other expenses.
How Are Plaintiffs’ Protected?
Litigation financing isn’t just any type of loaning, only certain companies can offer it, and a lawsuit cash advance is considered non-recourse debt, which means:
- You are NOT personally liable for the debt.
- We are NOT repaid out of your bank account.
- The most we can take as repayment is the agreed-upon portion of your compensation.
- If you lose your lawsuit, you don’t owe us anything at all!
In such an arrangement, the lender takes on all the risk. We think that’s fair since you and your family have already suffered enough as the plaintiff in a serious lawsuit.
How Much Money Can You Get?
Since repayment comes directly out of your compensation package, the details of your lawsuit determine how much funding we can provide. The FREE application form will ask for information like:
- How long your lawsuit is expected to last
- How much you expect to get in compensation
Additionally, we may need to evaluate the apportioned fault in your case. Alaska uses a system called contributory negligence when determining compensation awards in court, per Alaska Statutes §09.17.060. For example, if you are found to be 15% at fault for your damages, your total compensation would be reduced by 15% as well.
How Much Money Can I Get in an Alaska Lawsuit Loan?
Curious about the potential funds from an Alaska lawsuit loan? The amount varies depending on your case, typically ranging from $500 to $2 million. Reputable lenders like Tribeca Lawsuit Loans determine the loan amount by collaborating with your attorney to assess your needs and case details.
They provide transparent contracts outlining the exact loan amount and a simple, non-compounding interest rate, ensuring clarity and professionalism throughout the process.
Whether your lawsuit is a short or long-term endeavor, you can count on receiving the necessary financial support without the burden of hidden fees or repayment obligations if your case doesn’t reach a favorable outcome.
What Are The Expenses Associated with Lawsuit Loans in Alaska?
A lawsuit loan in Alaska entails a percentage of your eventual compensation, clearly outlined prior to contract signing. The settlement from your lawsuit acts as the loan’s collateral and is solely responsible for repayment.
Your personal finances remain secure, with no risk to your income or assets. Reputable legal funding companies typically waive application fees and apply a simple interest rate, avoiding compounding interest for transparency and fairness.
Are There Interest Charges on Alaska Lawsuit Loans?
In Alaska, lawsuit loans entail a portion of your future settlement, typically outlined before signing. This collateral-backed loan incurs a simple monthly interest rate, often starting at 3%.
Repayment relies solely on the lawsuit settlement. Reputable lenders are the only ones who can ensure transparent terms so you can avoid compounding interest and application fees.
Are Lawsuit Loans Safe in Alaska?
When obtained from reputable lenders like Tribeca Lawsuit Loans, these loans are entirely safe for borrowers. Operating as non-recourse loans, they pose no personal liability, with repayment solely dependent on the lawsuit’s future settlement — protecting your income and assets.
Plus, with no credit checks or employment verification, it’s a secure option even for those with less-than-ideal financial histories. So, rest assured, your Alaska lawsuit loan won’t compromise your financial security, offering a reliable hand during legal proceedings.
Apply Today with Tribeca
Tribeca helps fund a variety of cases for Alaska plaintiffs, including personal injury claims, car accident lawsuits, faulty products, and even lawsuits related to employment law violations.
If you have a lawsuit in which you are the plaintiff, you likely qualify for legal funding from us. Apply for FREE on our website or call our office at (866) 388-2288 to speak with a team member. After we approve your loan, you can have the money in your bank account in as little as 24 hours!
FAQs
Explain the typical civil lawsuit process?
Initiating a lawsuit or seeking settlement funding begins with the plaintiff – the person or entity lodging a legal complaint against another party, the defendant. The plaintiff must file their claim in a court that has the authority to hear and decide on their case. This claim details the reasons for the action and the specific grievances or damages the plaintiff is looking to recoup from the defendant.
This stage involves drafting pleadings – documents that lay out the respective stands of the plaintiff and defendant. These pleadings also contain preliminary evidence backing their claims. Both the plaintiff and the defendant are represented by their chosen lawyers.
Subsequently, the lawsuit enters the discovery phase. This pre-trial stage allows each side to gather additional evidence from their adversary to reinforce their case. The onus is generally on the plaintiff to provide enough evidence to substantiate the validity of their case.
The case then proceeds to trial, which is overseen by a judge and, possibly, a jury. The jury’s role is to deliver a verdict based on the evidence put forward, while the judge ensures the appropriate application of the law. Previous court rulings, known as legal precedents, might also influence the court’s decisions.
It’s worth noting that not all cases reach a full trial. Quite often, the plaintiff and defendant arrive at a settlement, resolving the case before a final verdict. In case the parties can’t settle or they disagree with the trial result, an appeal can be lodged with a superior court to review the judgment of the lower court.
Am I eligible for a lawsuit loan in the state of Alaska?
If you’ve suffered a personal injury in Alaska due to another person or entity’s actions, you are eligible forplaintiff’s funding. This injury entitles you to apply for funding, a process that is free and expedient.