At Tribeca Lawsuit Loans, we provide swift pre-settlement funding in the state of Delaware at competitive interest rates to serve the requirements of those presently involved in personal injury lawsuits.
Considering the need to borrow funds from your lawsuit? We are equipped to provide you with a cash advance anywhere between $500 and $2,000,000, contingent upon the value of your injury lawsuit case. We have a highly esteemed reputation, reflected in the reviews by our previous customers, and we maintain an extensive reach across Delaware. We can furnish you with a cash advance in a timeframe as short as 24 hours! Apply Now!
Our enterprise’s Lawsuit loans (alternatively known as case loans or lawsuit funding) can be utilized to cover any expenditures that crop up while the plaintiff’s lawsuit (your lawsuit) is still unresolved and prior to receiving your justifiable compensation from a victorious trial verdict or settlement against the defendant. A multitude of clients utilize the funds we are capable of disbursing for needs such as medical bills, rent or mortgage payments, utility bills, or even routine expenses like food or transportation.
Take the first step towards your funding today! Contact our approachable and seasoned team at (866) 388-2288 or reach out to them via this accessible online form, for any questions or worries you might have about the pre-settlement funding process. For our lawsuit settlement loans, no credit check or proof of income is required because if your case doesn’t succeed, you aren’t obligated to repay Tribeca Lawsuit Loans.
Three Steps To Your Cash Advance
Step 1: APPLY for Lawsuit funding in Delaware now
Submit your application to us for funding. Our lawsuit loan application includes the following process:
- No credit check
- No income verification
- No asset evaluation
- No hidden fees
- No money up-front
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 Lawsuit Loans sends a contract detailing terms of funding. Cash is distributed quickly and securely.
Specific Laws and Regulations regarding Lawsuit Funding in Delaware
Legal Aspects of Lawsuit Funding in Delaware
In Delaware, Tribeca Lawsuit Loans offers funding ranging from $500 up to $2,000,000, dependent on the case value. Delaware uses the Modified Comparative Fault 51% Bar, as per 1 Del. C. § 8132 and Brittingham v. Layfield, 962 A.2d 916 (Del. 2008). If the plaintiff’s fault exceeds 50%, they can’t recover if the defendant’s conduct is merely negligent.
Key Timeframes and Financial Figures
The Statute of Limitations in Delaware is 2 years (Title 10, Ch. 81, Sec. 8119). The minimum policy limits for bodily injury & property damage are $25,000 per person, $50,000 per accident for bodily injury liability, and $10,000 property damage liability per accident. The state also has set minimum auto insurance liability at 25/50/10 and PIP at 15/30.
Eligibility and Limitations for Workers’ Compensation
Workers’ compensation cases are eligible for funding. However, legislation in Delaware restricts companies from funding cases linked to workers’ compensation and soft tissue injuries. If a plaintiff has previously sought funding elsewhere for the same case, a lien will be filed as per Delaware law and will need to be settled.
How Pre-settlement funding works
The process of obtaining pre-settlement funding or a lawsuit loan in Delaware begins with the plaintiff, the individual or entity who is suing another party, known as the defendant. The plaintiff often finds themselves in a situation of pressing financial need. For instance, a resident of Dover, who suffered a car accident and is unable to work, may seek a lawsuit loan to cover living expenses and medical bills while they await a settlement or judgment.
The plaintiff initiates the application process with a trusted funding company, such as Tribeca Lawsuit Loans, detailing their case merits, the lawsuit type – which could be personal injury, workers’ compensation, or a civil rights case, among others – and their legal representation. For example, a plaintiff with a personal injury case in Wilmington, who has hired a well-respected local attorney, could have a better chance at approval due to the strong representation.
Once the application is submitted, it triggers the approval process. The funding company carries out a risk assessment, evaluating the strength of the case, the potential settlement amount, and the likelihood of a successful outcome. If our plaintiff in Wilmington has substantial evidence proving their claim, such as clear liability and serious injury, their chances for a successful outcome – and loan approval – increase.
Upon approving the application, the funding company determines the loan amount – the sum of money the plaintiff can borrow against their potential settlement. In the case of a Delaware plaintiff with a strong wrongful termination lawsuit, they might be able to secure a higher loan amount due to the potential substantial settlement.
The approved loan is a non-recourse loan, meaning if the plaintiff loses their case, they are not required to repay the borrowed amount. For example, a Newark resident with a high-risk medical malpractice claim may appreciate this safeguard as it means they won’t be saddled with unmanageable debt if their case is unsuccessful.
Terms of the loan, such as the interest rate and repayment terms, are then negotiated. The interest rate denotes the rate at which the loan accrues cost over time. Suppose a plaintiff from Middletown agrees to a loan with an annual interest rate of 15%. This would mean that the cost of the loan would increase by 15% each year until repayment.
Once all terms are agreed upon, the funding company advances the loan to the plaintiff. The funding speed – how quickly the funds are disbursed – can often be crucial for the plaintiff. For instance, a New Castle resident facing imminent eviction due to their inability to work post-injury might need the lawsuit loan funds disbursed quickly to avoid losing their home.
The process doesn’t end here. Once the lawsuit is resolved, and if it results in a settlement, the plaintiff must adhere to the repayment terms, returning the principal loan amount, interest, and any associated fees. This means our New Castle resident, after winning their personal injury lawsuit, would repay the loan from their settlement funds.
Throughout this process, there are legal and ethical considerations but regardless the process usually goes smoothly. Some considerations include the implications of borrowing against a future settlement, the potential influence on the litigation process, and the terms of the loan agreement. For example, a plaintiff from Milford would need to understand the impact of the lawsuit loan on their overall settlement and ensure their attorney is fully aware and supportive of the decision.
In conclusion, obtaining a lawsuit loan is a multifaceted process. It involves the plaintiff, their case, the funding company, and many moving parts, including the application and approval processes, risk assessment, and eventual repayment. It serves as a financial bridge for those in need, like the accident victim in Dover or the wrongfully terminated employee in Wilmington, while they await the resolution of their legal battles.
Delaware Lawsuits Loans Are Legal and Safe
In past years, there have been several challenges to the practice of litigation funding in Delaware. However, Delaware Supreme Court Judge Jan R. Jordan denied such challenges in an official opinion in 2016. As it stands, courts have consistently upheld the right of plaintiffs to engage in litigation funding while their case settles.
Tribeca Lawsuit Loans provides funding in a host of other states across the Union as well, some of which have much stricter policies regarding lawsuit loans. Our pre-settlement arrangements abide by all industry best practices and are totally safe for you. We consider our Delaware lawsuit loans risk-free for you because:
- Your personal finances are not a source of repayment.
- We do not seize any collateral apart from the agreed-upon portion of your compensation package.
- If you end up losing your lawsuit, you don’t have to pay us back at all!
Who Can Get a Delaware Lawsuit Loan?
As long as you are the plaintiff in a lawsuit and stand to be paid compensation, you probably qualify for a lawsuit loan. Pre-settlement funding is a way to pull money from your future settlement or jury award so that you don’t have to suffer financial insecurity in the months or years before your case resolves.
Tribeca Lawsuit Loans has provided legal funding for clients with cases like:
- Car accident claims
- Labor law violations
- Employment discrimination cases
- Business disputes
- Whistleblower or Qui Tam litigation
- Medical malpractice or defective drugs claims
- Faulty products
It’s completely free to apply, with no hidden fees or charges. Let us know about your case by filling out our application form and we will respond as soon as possible with information about how much legal funding we can potentially provide.
Apply for a Delaware Lawsuit Loan Today
You can find our application form by clicking on the Apply Now button above. If you’d like to discuss an existing application, get more information on Delaware lawsuit loans, or need assistance with any other related matter, call our office at (866) 388-2288.
What is the civil lawsuit process typically like in Delaware?
In Delaware, the civil lawsuit process usually starts with filing a complaint in a court that has jurisdiction over the matter. The defendant is then served with the complaint and must respond within a certain timeframe. Next, both parties engage in a discovery process to gather information about the case. This may include depositions, interrogatories, and document production. Settlement negotiations can take place at any time during this process. If no settlement is reached, the case goes to trial where a judge or jury decides the outcome.
Can I get a lawsuit loan for any type of lawsuit in Delaware?
Generally, lawsuit loans are available for a variety of civil lawsuits in Delaware, including personal injury, wrongful termination, and civil rights cases. However, there are restrictions, as the state’s legislation prevents companies from offering financial support for cases related to workers’ compensation and those arising from soft tissue injury. Also, if you have previously applied for funding elsewhere for your case, a lien might be filed which will need to be paid off.