Plaintiffs in Alaska lawsuits can end up waiting years before getting their rightful compensation. Stall tactics favor the at-fault party since you are more likely to feel pressure to settle for less as your bills and expenses pile up. Lawsuit Loans from Tribeca can help you draw from your eventual settlement package so that you can hold out for more.
Legal funding, also called pre-settlement funding, is a form of cash advance on your future compensation. It is totally safe and comes risk-free to you. In fact, if you lose your lawsuit, you don’t have to pay us back at all!
The Legality of Lawsuit Loans in Alaska
Lawsuit 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 pre-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.
How Lawsuit Loans Protect Alaska Plaintiffs
This isn’t just any type of loan. 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.
Apply Today to Get Your Money Fast
Tribeca Lawsuit Loans 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!