Naperville lawsuit loans can help you pay your bills as you negotiate your settlement. These negotiations can take months or even years to resolve, and the defense will try to drag them out to increase the pressure. You could face mounting bills and a loss of income in the meantime.
With a settlement loan, you won’t have to accept anything less than the full value of your award. You’ll be in a better position to resist the defense’s pressure tactics and fight for your maximum payout. Find out if a Naperville pre-settlement loan is the right option for your legal fight.
How Do Naperville Pre-Settlement Loans Work?
If you’re involved in settlement negotiations, you could expect a substantial payout defending on the scale of your damages. However, you need to make it to the finish line in order to obtain this award. The defense will do everything they can to stop that from happening, especially if they’re likely to lose.
Unfortunately, many plaintiffs find they have to settle early and for less than they could have won if they didn’t need the money now. That’s where pre-settlement loans come in. These allow you to borrow against your expected settlement, giving you some of that money now to cover your expenses and continue your legal fight.
Unlike typical recourse loans, like a personal loan or credit cards, Naperville lawsuit loans are nonrecourse and don’t need to be repaid if you lose your case. The only collateral used for them is your settlement itself, and if there isn’t a settlement, you have no obligation to repay. This makes them a highly attractive option for those who want a risk-free way to fund their legal fight.
What Are the Requirements for Naperville Lawsuit Loans?
The requirements for Naperville pre-settlement lawsuit loans are far less stringent than those for other types of financing. In order to get a lawsuit loan in Naperville, a reputable legal funding company will only need the following:
- A lawsuit that has been filed
- A contingency-based lawyer
- Permission from your lawyer
And that’s it – so long as you have the above, you’re likely already pre-qualified to obtain legal funding. Since your personal assets won’t be used to repay the loan, all that matters in obtaining one are the above qualifications and the quality of your case. Not only do lawsuit loans carry no risk compared to other financing options, they’re much easier to get as well.
However, we will need permission from your lawyer in order to offer you legal funding. Without their approval, you won’t be able to receive a lawsuit loan from any company. This is because your lawyer will have to pay the legal funding company directly from your settlement, and they may not want to involve a third party in this process.
How Does the Statute of Limitations in Illinois Affect Your Legal Funding?
If you’re filing a lawsuit in Illinois, you only have two years to do so in personal injury cases. Should you try to file a lawsuit after this period, it’s unlikely that you’ll be able to win your case. However, in personal injury cases, the State of Illinois doesn’t cap potential damages.
Illinois also follows a comparative fault doctrine, which can make it easier for you to obtain legal funding. Each party in a lawsuit may be assigned some portion of fault, which can leave you with more or less of your settlement than you expected. In states without this doctrine, plaintiffs can face an all-or-nothing legal fight, which can make it impossible to obtain a legal loan.
How Can You Spend Naperville Lawsuit Funding?
The money from your Naperville lawsuit funding can be used to cover any expenses you might be currently facing or are anticipating. There are no restrictions on how you need to use your money. Once you receive it, it’s yours to spend with no strings attached. As you have no worry of repayment, you don’t even have to worry about using it “productively.”
Many plaintiffs use their settlement loan to cover medical expenses, rent, or mortgage payments. Others may pay off credit cards or cover living expenses for some period of time. Some plaintiffs may even use their legal funding on entertainment or to travel.
Apply For a Naperville Lawsuit Loan Today
At Tribeca Lawsuit Loans, we make sure that each one of our clients has the financial resources they need to fight for justice and win. We can offer you $1 million in legal funding within 48 hours of the approval of your application. All of our lawsuit loans in Illinois are nonrecourse and don’t need to be repaid if you lose your case.
Contact us today online or by calling one of our live team members to apply for legal funding in Naperville, IL. In just a few hours, you could receive the cash you need to cover your expenses and continue your fight for justice. We look forward to helping you fight for your full settlement award.