At Tribeca Lawsuit Loans, we provide swift pre-settlement financing in the state of Ohio at affordable interest rates, tailored to serve the needs of individuals currently engaged in personal injury lawsuits.
Seeking financial support from your lawsuit? We are prepared to provide you an advance anywhere from $500 to a staggering $2,000,000 in cash, contingent on the worth of your injury lawsuit case. Our excellent reputation is reflected in the high ratings and positive reviews from our previous clients, and our significant presence all over Ohio. We can expedite a cash advance to you in a mere 24 hours! Apply Now!
Our organization’s Lawsuit loans, also recognized as case loans or lawsuit funding, can cater to any financial burdens that emerge while your lawsuit is in progress and before you receive your legitimate compensation from a victorious trial verdict or settlement against the defending party. Many of our clients channel the funds we distribute to them towards medical bills, rent or mortgage payments, utility bills, or even everyday expenses like groceries or transportation.
Secure your funding today! Dial (866) 388-2288 to reach our approachable and seasoned team or use this brief online form to communicate any queries or apprehensions you might have about the pre-settlement funding journey. We don’t require a credit check or income proof for our lawsuit settlement loans because you’re not obligated to repay Tribeca Lawsuit Loans if your case isn’t successful.
Three Steps To Your Cash Advance
Step 1: APPLY for Lawsuit funding in Ohio 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.
Ohio Lawsuit Funding Laws and Regulations
Average Funding per Case
In Ohio, Tribeca Lawsuit Loans average case funding varies but can go up to $2,000,000 depending on your lawsuit.
According to Ohio’s Modified Comparative Fault law (Ohio Rev. Code Ann. § 2315.33), a plaintiff may be barred from recovery if their liability surpasses the defendant’s.
Statute of Limitations
The statute of limitations for filing a lawsuit in Ohio is 2 years (Title 23, Ch. 5, Sec. 2305.10).
Insurance Policy Limits
The minimum policy limits for bodily injury and property damage in Ohio are $25,000 per person and $50,000 per accident for bodily injury liability, and $25,000 per accident for property damage liability.
Uninsured/Underinsured Motorist Coverage
The minimum liability for Uninsured/Underinsured Motorist Coverage (UIM) in Ohio is 25/50/25.
Workers’ Compensation Cases
Workers’ compensation cases are not eligible for lawsuit funding in Ohio.
Regulation of Pre-settlement Funding
In Ohio, pre-settlement funding is regulated through Ohio Rev. Code Ann. § 1349.55. This law requires litigation finance companies to explicitly state they have no control or involvement in personal injury cases. The state does not regulate fees, interest, or the duration for which fees can be charged.
If you have previously applied for a loan with another lender for the same case, you will not be eligible for financial support from Tribeca Lawsuit Loans.
How Pre-settlement Funding Works
The process of obtaining pre-settlement funding or a lawsuit loan in Ohio 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 example, an Ohio resident injured in a car accident might struggle with medical bills, rehabilitation costs, and lost wages. They look to use funds from a lawsuit loan to cover these various expenses 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. The quality of their attorney or law firm can often influence the decision of the funding company. For instance, an Ohio resident with a solid personal injury case and represented by a reputable Ohio-based law firm may have a higher chance of approval.
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. The type of lawsuit can significantly impact the eligibility and loan amount, as can the estimated settlement timeline. An Ohio plaintiff with a strong medical malpractice suit and a high estimated settlement, for instance, may be eligible for a larger loan amount.
Upon approving the application, the funding company determines the loan amount – the sum of money the plaintiff can borrow against their potential settlement. This decision is influenced by several factors, including the case merit and the potential settlement amount. To illustrate, an Ohio worker with a solid employment discrimination case may receive a loan amount commensurate with the projected settlement of such a case.
The approved loan is a non-recourse loan, meaning if the plaintiff loses their case, they are not required to repay the borrowed amount. This characteristic of lawsuit loans introduces considerable risk to the funding company, further underlining the importance of a detailed case review. This element of risk makes it essential for the funding company to review Ohio-specific laws and regulations, such as Ohio Rev. Code Ann. § 1349.55, which governs pre-settlement funding in the state.
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. Fees, such as origination or processing fees, may also apply, contributing to the total repayment amount. For example, an Ohio resident might agree to an interest rate of 3% per month, meaning their loan balance grows by that rate monthly until the case is resolved.
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, an Ohio resident in urgent need of funds for medical treatment would greatly benefit from a fast disbursement.
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. Let’s consider an Ohio plaintiff who won their personal injury case; they would then use a portion of their settlement to repay the loan principal, accrued interest, and any associated fees to Tribeca Lawsuit Loans.
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 instance, Ohio’s specific laws ensure litigation finance companies don’t interfere with the lawsuit, further protecting the plaintiff’s interests.
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. For an Ohio plaintiff facing financial hardship due to an ongoing lawsuit, it serves as a financial bridge while they await the resolution of their legal battles.
How Lawsuit Loans Protect Your Personal Finances
In many situations, such as litigation against large corporations with seemingly limitless resources, you could be looking at several years’ worth of negotiations before seeing the compensation you are owed.
There are several types of loans you could take out in order to cover your expenses while you wait, but only one can safely be called “risk-free”: lawsuit loans. Legal funding protects you from unnecessary risk in several ways, due to the fact that it is all considered non-recourse debt.
- Your bank account. Since the loan is tied to your eventual settlement or compensation package, we cannot and will not pursue repayment from your personal finances.
- Limited collateral. The collateral, or material backing the loan, is the agreed-upon portion of your compensation package. We can’t pursue repayment by claiming any of your property.
- No repayment if you lose. That’s right – if you lose your lawsuit, Tribeca simply takes the loss. You don’t have to pay us back a penny, so you’re never left in a worse spot than when you started.
Is Pre-Settlement Funding Legal in Ohio?
Sounds too good to be true? It’s not! Lawsuit loans are legal in Ohio and are regulated by Ohio Revised Codes (ORC) §1349.55. The law requires specific information to be given to you so that you aren’t left in the dark with any underhanded practices. It also stipulates what must be present in a contract in order to be valid.
Lawsuit loans are available across all of Idaho. Whether you’re looking for pre-settlement funding in Cleveland or in one of the state’s smaller communities, Tribeca Lawsuit Loans is ready to assist you.
No Credit Check Necessary
Tribeca can provide anywhere from $500 to $1,000,000 in legal funding to plaintiffs in Ohio. The determining factors listed below all have to do with your lawsuit since the collateral (and the risk to our investors) is tied to your compensation. Here’s what that means for you when you apply:
- NO credit check
- NO bank statements needed
- NO proof of income needed
- NO invasion of your financial privacy
How We Determine the Value of Your Ohio Lawsuit Loan
Our underwriting team determines how much we can supply you with for your Ohio lawsuit loan. They do this based on information like:
- The overall strength of your claim, including evidence
- Your expected compensation or settlement amount
- How long your lawsuit is expected to last
- The total amount of damages you are claiming
For plaintiffs who have been harmed more severely, and thus stand to receive a larger settlement, we are usually able to provide higher amounts as a loan.
Apply for Your Ohio Lawsuit Loan for FREE
Let’s get you the money you need, fast. Fill out the FREE form on our Apply Now page to get started, or call our team at (866) 388-2288 to learn more about the process.
We offer lawsuit loans in the following locations:
What is the civil lawsuit process typically like in Ohio?
In Ohio, the civil lawsuit process begins with the plaintiff filing a complaint against the defendant. The defendant then has a specified period to respond. Discovery follows where both sides exchange information. If the case isn’t settled, it proceeds to trial, and a judge or jury decides the outcome.
Are lawsuit loans in Ohio non-recourse?
Yes, lawsuit loans in Ohio are non-recourse. This means that if you lose your case, you are not required to pay back the loan. The repayment of the loan is contingent upon winning or settling your case.