Whether it’s a personal injury claim or a civil action because of fraud, going through litigation is expensive and stressful. However, the process can feel even more overwhelming if you initiated the lawsuit because you’ve been hurt financially by the action. How can you possibly wait out the settlement negotiations for your case when you do not have the money to pay your bills?
Rather than suffer through the stress and financial hardship of mounting bills during interminable lawsuit negotiations, you can get a Tampa lawsuit loan. This is essentially a cash advance on your future settlement. Our team at Tribeca Lawsuit Loans is very familiar with the process of lawsuits. This is why we can offer lawsuit loans in Tampa for individuals fighting for civil justice. We provide a free and simple application for our legal loans.
What are Pre-settlement Loans in Tampa?
Legal lending, like lawsuit loans or pre-settlement loans in Tampa, is quite different from conventional loans. Traditional loans require collateral or that you agree to wage garnishment if you’re unable to repay the loan. Monthly payments to repay the loan begin immediately. If you fall behind on payments, you may lose property or find your paychecks are lighter. Your credit score will be negatively impacted, and you will be flooded with harassing phone calls demanding repayment.
Unlike these conventional loans, Tampa lawsuit loans are non-recourse loans. The primary distinction with a non-recourse loan is that the loan’s collateral — in this case, your lawsuit’s future settlement — is the sole source of funds that can legally be used to repay the loan. The lender has no recourse to attach any other funding for repayment. If we fund your Tampa settlement loan, we will be prohibited by law from asking you for payment or sending your loan to collections. In fact, if you were to lose your lawsuit, you won’t pay us a dime!
Because your future settlement is the sole source of funds to repay your Tampa lawsuit loan, you will never face monthly payments. We wait for our money until after your compensation is paid. Then, your attorney gets a check for the entire settlement. They cut us a check for our agreed-upon portion; they take their own payment and then send you the balance.
How Tampa Lawsuit Loans Can Help You Get a Better Settlement
As the plaintiff in a lawsuit, you have been damaged by the actions of another person or organization. As a result, you may have expensive medical bills, property damage that must be repaired, or you may have even lost work. Your bills are piling up, stress abounds, and the settlement negotiations drag on.
The defendant’s defense attorney and/or insurance company are invested in keeping your compensation as low as possible. A common strategy they use is to drag out the settlement negotiations far longer than the already slow progress of the law. This highly effective stalling tactic attempts to leverage your stress and financial pressure against you until your financial circumstances force you to settle for a mere fraction of the compensation you deserve.
The purpose of Tampa pre-settlement loans is that they give you access now to the money in your future settlement. You can use that money to pay your medical bills, housing, groceries, and even as income replacement. The pre-settlement funding enables you to live your life free of the financial stress that benefits the defense. You then have the financial wherewithal to let your attorney get you the best settlement possible.
Furthermore, once Tribeca Lawsuit Loans funds your lawsuit, we are invested in its successful conclusion — it’s the ONLY way we will be repaid, after all. That’s why we may also provide case funding for your attorney to cover expert witnesses or other steep litigation expenses that can bolster your case.
What Sort of Cases Qualify for Legal Funding in Tampa, FL?
We provide legal funding to clients across Florida to help them through their civil lawsuits. In the past, we’ve helped litigants with cases such as:
- Car accidents
- Slip and falls
- Medical malpractice
- Defective drug
- Premises liability
- Civil rights
- Commercial litigation
- And much more
The list of cases we fund is always growing and includes mass tort litigation. If you don’t see your case type listed, the best way to know if your case qualifies for pre-settlement funding is by speaking with one of our Tampa lawsuit loan specialists today.
We Provide Pre-Settlement Funding in Tampa for Fraud Claims Too
People love visiting Tampa and many retired people find their forever home there. Unfortunately, because The Sunshine State is well-known for its retiree population, there are a number of scammers trying to take advantage of people. Even companies like the Tampa real estate investment firm EquiAlt have been accused of defrauding people.
If you’re attempting to pursue a person or company for a Ponzi scheme or other fraud, we may be able to provide you with pre-settlement funding in Tampa to get cash back in your pocket now when you need it the most.
How Can I Use My Tampa Lawsuit Loan?
A lawsuit loan acts like a cash advance of your future lawsuit award. If your attorney and our underwriters anticipate that a court will award you $100,000 for your case, we will provide you with a portion of that amount to spend now instead of waiting for your lawsuit to resolve. Since some lawsuits can take years to resolve, why wait when you can have access to your money now?
Because legal funding in Tampa, FL, acts as a cash advance for your future settlement, we never tell you how to spend your money. If you were a victim of that Ponzi scheme, you might choose to take the legal loan and replenish your savings. Or you may want to spend it on a lavish vacation to calm your nerves and stress.
Can I Apply for a Tampa Settlement Loan if My Credit Score is Low?
Since the only money that can repay a Tampa lawsuit loan is your future compensation, we do not require you to give us your credit score, income verification, or financial history. The requirements for applying for a legal loan are as follows:
- Contact information for both you and your legal counsel
- Information about your case
- How long the case is expected to last
- What you’re seeking for your settlement
We make our decision to fund your lawsuit by talking with your legal team and assessing your legal needs. When we approve your Florida lawsuit loan, we are saying that we believe there is a strong likelihood that you will win your case regardless of your personal finances.
What is the Interest Rate of a Lawsuit Loan in Tampa?
We discuss your legal case with you and your legal team during the application process. Each situation is different and involves a different set of circumstances. The amount we can loan and the interest we charge on each lawsuit loan in Tampa varies, depending upon the specifics of your case. While we cannot quote your interest rates without first examining your case, we set a simple, non-compounding interest rate that reflects your situation and is designed to help keep you from being pushed into debt.
Applying for Your Tampa Pre-Settlement Funding is Free!
We are available 7-days a week, and our friendly staff is 100% committed to getting you the funding you need to pursue just compensation. Our application is simple, quick, and FREE.
Let us help you to relieve your financial stress and get the settlement you deserve.