Legal funding like Illinois lawsuit loans can help you meet your needs while you endure a long, drawn-out litigation process. If you’re involved in a lawsuit, you could be waiting years before seeing compensation.
Thankfully, there’s a solution. An Illinois lawsuit loan acts as a cash advance on your future settlement that enables you to meet your current expenses. Unlike other forms of funding, lawsuit loans in Illinois do not have to be used for any particular expense. You can use the money to pay for rent or mortgage, utility bills, medical debt, or even as a replacement for lost income due to injury.
Illinois Lawsuit Loan Eligibility
Tribeca Lawsuit Loans funds a wide range of lawsuit settlement loans in Illinois, including for cases of:
- Personal injury claims (such as car accidents or product liability)
- Medical malpractice
- Employment or labor law violations
- Federal whistleblower lawsuits
- Cases related to the Jones Act
- Defective drug lawsuits (including class action suits)
The list of cases we fund goes on and includes mass torts.
You likely qualify for a lawsuit loan in Illinois if you meet the following criteria:
- The plaintiff in an existing lawsuit
- Living in Illinois
- Aged 18+
- Represented by an attorney
Studies have shown that plaintiffs represented by legal counsel are more likely to win their case and achieve a larger settlement than those who represent themselves. Working with a lawyer helps increase the likelihood that your case will end successfully and cuts back on risk for both you and us. At Tribeca, we have a case acceptance rate for qualifying applications of over 94%!
Illinois Lawsuit Loans – How Do They Work?
In Illinois, lawsuit loans use your anticipated settlement as the collateral for the loan. However, unlike most loans you are likely familiar with, an Illinois accident loan, personal injury loan, or other forms of legal lending is considered a non-recourse loan. A non-recourse loan is one where the lender has no recourse to any source of money other than the collateral to repay the loan. In other words, your personal finances, property, and assets will never be touched to repay the Illinois settlement loan.
Because we will never see a cent of your own money, our application asks for:
- NO income verification
- NO credit check
- NO employment verification
- NO evaluation of your assets
Your finances will never be a part of your Illinois lawsuit loan repayment, so we leave your private financial information private. However, because your lawsuit’s future settlement will be the source of loan repayment, we DO ask:
- Your total damages in the case
- The percentage of fault, if any, attributed to you
- The anticipated duration of your case
- The likely size of your compensation
We also ask for your attorney’s contact information so that we can discuss your case in detail. We will work closely with your attorney throughout the life of your case.
Applying for an Illinois Lawsuit Loan is Simple
We understand how much financial pressure you may be experiencing, so we have streamlined our Illinois settlement loan application:
- Step One: You Apply – First, you fill out the application form online. It’s completely free, with no hidden costs, and it does not obligate you to accept any lending arrangement.
- Step Two: Our Underwriters Evaluate – Next, our team checks out the details behind your lawsuit to determine how much we can offer you an Illinois lawsuit loan.
- Step Three: Get Your Money – After we have approved your Illinois lawsuit loan application and you have signed the lending agreement, we can have up to $2 million in your bank account in as little as a single day!
It’s really that simple!
As part of Step 2, we will also contact your attorney for additional information about your lawsuit. To get a better understanding of the amount you’ll need, we will look at factors such as:
- Your total expected compensation
- The overall strength of your evidence
- Issues with Illinois’ comparative negligence law (735 ILCS 5)
- Previous awards in similar cases
With this information, we will determine how much of an Illinois lawsuit loan we can offer you.
How Do You Repay Lawsuit Loans in Illinois
Another way non-recourse Illinois lawsuit loans differ from typical loans is in repayment — there are no monthly payments to worry about! Just like you, we will wait for your case to conclude before seeing our money. Once your lawsuit concludes, your attorney will get a check from the other party for the settlement or jury award. Out of that amount, they will send us a repayment check for the agreed-upon portion of the compensation package.
Since Illinois lawsuit loans are non-recourse, your personal bank account or income is never a source of repayment. We don’t touch your finances. Instead, you simply send us a portion of your compensation. If you lose your lawsuit, you don’t have to pay us back at all!
Choosing a Legal Lender for Your Illinois Lawsuit Loan
Tribeca Lawsuit Loans is a widely respected legal lender in Illinois and across the country. We value our clients and will treat you with due respect. We charge only a simple, non-compounding interest rate, and we fully disclose all charges upfront in clear, easy-to-understand language. If you need a malpractice settlement loan in Illinois, an Illinois personal injury lawsuit loan, or any other type of legal funding — we want to help!
Applying for an Illinois Lawsuit Loan is FREE!
If you have an ongoing lawsuit and need cash to help you and your family through the next months and years, an Illinois settlement loan could be the right solution for you. Tribeca Lawsuit Loans is a respected legal lender in Illinois and offers completely free applications.
We offer lawsuit loans across the Prairie State, including the following locations:
If you live in Illinois and are the plaintiff in a lawsuit, we can help you pay your current expenses while pursuing the best possible settlement for your case. Visit our Apply Now page to take that first step toward the money you deserve with a lawsuit loan in Illinois. Feel free to contact us online or call us at (866) 388-2288 to speak with a friendly member of our team. We welcome your questions.
We can provide the money you need to pursue the full compensation you deserve.