A settlement could take years to work its way through court, but your bills won’t wait for that money to arrive. A Mississippi lawsuit loan could help you weather any financial difficulties you may face as your case progresses. Even better, you won’t have to pay anything back if you lose your case.
Mississippi lawsuit loans, or legal funding, can allow you to tap into your expected payout from a future settlement. With your money, you could breathe easier as you fight for the maximum value of your payout. Find out how a lawsuit loan from Tribeca could help you and if it’s right for your needs.
What is a Lawsuit Loan?
Lawsuit loans differ from traditional loans because they are classified by the IRS as a nonrecourse debt. Unlike with a traditional recourse loan, you have no obligation to pay it back. While you still need collateral in order to obtain one, with a lawsuit loan, that is your settlement, not your personal finance or assets.
This means that lawsuit loans carry no risk to borrowers. This is because you only need to repay your legal funding in the event that you actually win your settlement. However, if you lose, you won’t be on the hook for the money that you did receive. The IRS treats legal funding as an investment, which means the lender for your lawsuit loan shoulders all of the risk.
What Does Legal Funding Cover?
The state of Mississippi sees hundreds of lawsuits every year. In many of these situations, the plaintiff may need to wait for months to see their settlement money. Common reasons for lawsuits include the following:
- Car accidents
- Personal injury suits
- Workers’ compensation cases
- Slip and fall injuries
- Civil rights cases
In these cases, the victims may be facing significant financial challenges if they have lost their job or needed to take a lower skill job due to injury. At the same time, they may be facing high medical bills as well as a repair obligation. The legal system is designed to help, but in many cases, settlement checks can take a long time to arrive.
If you find yourself in any of these situations, applying for Mississippi lawsuit loans may help.
How Lawsuit Loans Work for Missisippi Residents
Depending on your individual circumstances, a lawsuit cash advance may help relieve your financial burdens more quickly. The application process is simple and fast, and interest rates are held low so you can keep the money you deserve to meet daily living expenses as well as financial debts that result from your injury or accident.
However, state law can impact how much legal funding you’re able to obtain. Statute of limitations laws can limit your ability to file a lawsuit after you’ve been wronged. In Mississippi, you have up to three years to file a personal injury lawsuit, but only 90 days to do so if the responsible party is the state government.
Unfortunately, if you file your lawsuit after the statute of limitations has expired, we won’t be able to offer you legal funding. However, provided your case is in motion, we can offer you lawsuit loans at any period. That means if you filed your case and suddenly need part of your settlement, we’re here to help you.
Apply for a Mississippi Lawsuit Loan Today
Tribeca can provide you with up to $1 million in 24 hours if you qualify for a lawsuit loan with us. Applying takes just a few minutes and can deliver you cash you can use for any upcoming expenses. We’ve served nearly 1,700 clients and operate nationwide, making us the right partner for your case no matter where you live.
Contact us to find out how we can assist you in your fight for justice. Since we only look at the details of your case, you may qualify for more legal funding than you anticipated. Let us help you fight for every bit of justice you deserve.