You have just gone through a traumatic experience. Thanks to someone who was negligent, your accident has left you with severe injuries, pain and suffering. It has also left you with a massive amount of medical bills and, because you are not able to work, no way to pay them.
If you have filed for a lawsuit in Berkeley because of your accident, pre-settlement funding provided by Tribeca Lawsuit Loans may be the solution for you during this overwhelming time. The cash advance can help you pay your bills and more, plus buy you more time for your attorney to properly fight for your case.
Why Are Lawsuits So Expensive?
Filing a lawsuit in Berkeley may be necessary, but the process comes with a price – especially if you are battling a big company defendant complete with a big budget and insurance companies that can afford to draw out the case.
Expenses depend on the type of case, of course, but the breakdown of costs overall add up, such as:
- Court filing and service fees
- Lay witness depositions
- Expert witness depositions
- Miscellaneous costs, such as an audio-visual technician for any technical equipment used during trial, processing charges for medical records, or travel costs
Aside from your attorney’s contractual fees, total lawsuit costs can range from $5,000 to more than $100,000, depending on how complicated the medical treatment and legal issues are.
What Is the Approval Process for a Berkeley Lawsuit Loan?
The lawsuit loan approval process is as simple as three easy steps:
- Apply for legal funding online. Make sure you include your attorney’s contact info.
- One of our Tribeca lawsuit loan professionals will review your case with your attorney, then our team will evaluate the corresponding loan amount.
- Once that is decided, we will send a contract detailing the terms of your Berkeley pre-settlement funding for you and your attorney to sign.
Your cash advance will be distributed to you as securely and as quickly as possible – often within 24 hours. Pre-settlement funding in Berkeley will relieve the financial pressure you are experiencing in the courtroom, where the defendant may be forcing you and your attorney to settle, and out, where you are facing increasing debt.
Is a Berkeley Lawsuit Loan a Personal Loan?
There are some similarities between traditional personal loans and lawsuit loans, but more major differences between the two forms of pre-settlement financing. Here are a few of those differences:
- Personal loans have strict qualifications and repayment requirements.
- Lawsuit loans do not even require a credit check to qualify.
- Personal loans tend to have high interest rates.
- Lawsuit loans from Tribeca carry some of the lowest interest rates out there.
- Personal loans will need to be repaid, regardless of how the case settles.
- A lawsuit loan in Berkeley is non-recourse debt, which means it does not need to be repaid if you lose your case.
Also, lawsuit loans are usually non-taxed. Because it comes out of your legal compensation package, it is not considered taxable income. You may have to pay taxes on it, however, if you use the legal funding to make an investment.
Bottom line, lawsuit loans are of no risk to you! This non-recourse type of legal funding in Berkeley allows lenders, like Tribeca, to only take collateral if you win your case because the collateral is the plaintiff’s settlement.
How Much Money Can We Provide for Your Case in Berkeley?
Personal injury lawsuits can take months, even years, to settle. Because of that, we have helped thousands of clients get approved for pre-settlement loans to financially support them until the case is resolved.
Our Berkeley legal funding specialists at Tribeca Lawsuit Loans can provide up to $1 million to cover those many expenses that are accrued until you are rightly compensated. Some clients’ cases did not require as much of a cash advance to cover expenses – as little as $500 – but even this little amount can help with everyday expenses.
The way we determine the value of your lawsuit loan depends on several factors: how severe your injuries or the damages were in your accident, the amount of evidence available in your favor, and the length of time your case is expected to last in the courtroom. Normally, 10 to 20 percent will be funded by a lawsuit loan.
How to Apply for Your Berkeley Lawsuit Loan
If you are a plaintiff in a lawsuit, you may qualify for a Berkeley lawsuit loan. The first step is to apply online. One of our underwriters from the Tribeca team will reach out to your attorney to discuss your case as soon as possible.
We are here to help you.