At Tribeca Lawsuit Loans, we provide swift pre-settlement funding in the state of Oklahoma at competitive interest rates to cater to the demands of individuals involved in personal injury lawsuits.
In need of funds from your lawsuit? We can provide you with a cash advance ranging from $500 to $2,000,000, subject to the merit of your injury lawsuit case. With an impressive presence across Oklahoma, we come highly recommended by our past clients. We can make a cash advance available to you in a span as short as 24 hours! Apply Now!
Our company’s Lawsuit loans (alternatively referred to as case loans or lawsuit funding) are a versatile financial solution that can be utilized for any expenses that pop up while your lawsuit (the plaintiff’s lawsuit) is under process and until you secure the rightful compensation from a successful trial verdict or settlement against the defendant. A lot of clients use the money we release to them for expenses such as medical bills, rent or mortgage payments, utility bills, or even everyday costs like food and commuting.
Secure your funding today! Dial our friendly and proficient team at (866) 388-2288 or reach out to them using this easy-to-use online form, if you have any queries or reservations about the pre-settlement funding procedure. Our lawsuit settlement loans do not require a credit check or proof of income as you are not required to repay Tribeca Lawsuit Loans if you do not win your case.
Three Steps To Your Cash Advance
Step 1: APPLY for Lawsuit funding in Oklahoma 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.
Laws and Regulations of Lawsuit Funding in Oklahoma
Average Funding and Case Value Limits by Tribeca Lawsuit Loans
In Oklahoma, Tribeca Lawsuit Loans average case funding varies but can go up to $2,000,000 depending on your lawsuit.
Oklahoma’s Fault Laws
Under the Modified Comparative Fault – 51% Bar rule, a plaintiff cannot recover if they are 51% or more at fault. If 50% or less at fault, the plaintiff can recover, but their recovery is reduced by their degree of fault, as per Okla. Stat. Ann. Tit. 23 § 13.
Statute of Limitations in Oklahoma
Oklahoma’s statute of limitations is 2 years, as stated in Title 12, Ch. 3, Sec. 95.
Minimum Policy Limits for Bodily Injury & Property Damage
The minimum policy limits in Oklahoma are $25,000 for bodily injury liability per person, $50,000 bodily injury liability per accident, and $25,000 property damage liability per accident.
Minimum UIM Auto Insurance Limits in Oklahoma
The minimum underinsured motorist (UIM) auto insurance limits are Liability: 25/50/25.
Workers Compensation Eligibility
In Oklahoma, workers are eligible for workers compensation.
Eligibility of Cases and Adherence to State Laws for Settlement Loans
Unlike many other states, all types of cases in Oklahoma are eligible for settlement loans. However, any advances must conform to state laws, particularly Senate Bill 1016 passed in 2013, which regulates settlement loans. Tribeca Lawsuit Loans strictly follows all regulations, such as possessing a valid license, granting clients a right to rescission, and not influencing the case.
Provision for Secondary Funding
Tribeca Lawsuit Loans can offer secondary funding for clients who have already received financial support for a case. To facilitate this, the previous financial support must be disclosed so that the lien can be repaid.
How Pre-settlement Funding Works
The process of obtaining pre-settlement funding or a lawsuit loan in Oklahoma begins with the plaintiff, the individual or entity who is suing another party, known as the defendant. For instance, a plaintiff might be a construction worker in Tulsa, Oklahoma, who suffered a debilitating injury on the job and is suing his employer for negligence. As his case proceeds, he finds himself in a financial crunch, unable to work and with mounting medical bills. He looks to use funds from a lawsuit loan for various expenses while he awaits a settlement or judgment.
The plaintiff initiates the application process with a trusted funding company like 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. To illustrate, the construction worker may be represented by a renowned personal injury attorney in Oklahoma City, which can often influence the decision of the funding company.
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. For example, a medical malpractice case in Oklahoma might have a different timeline and potential settlement amount compared to a slip-and-fall accident case.
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. For instance, if a plaintiff in an auto accident case in Norman, Oklahoma is expected to receive a substantial settlement due to severe injuries and clear liability, the loan amount might be higher.
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. As an example, if a plaintiff in a defective product case in Stillwater, Oklahoma fails to prove the product’s fault, the funding company absorbs the loss.
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, a plaintiff from Broken Arrow, Oklahoma might agree to an interest rate of 6% and a processing fee of $250.
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. A quick disbursement might allow an accident victim from Edmond, Oklahoma to pay for urgent medical treatments, for instance.
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. For instance, if our Tulsa construction worker receives a settlement from his negligence case, he would repay the loan, including principal, interest, and any fees.
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 example, our hypothetical construction worker from Tulsa needs to understand the full terms of the loan agreement before committing.
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. It serves as a financial bridge for those in need while they await the resolution of their legal battles, such as the construction worker in Tulsa or the auto accident victim in Norman.
Are Lawsuit Loans Legal in Oklahoma?
Yes! Pre-settlement funding is regulated by Oklahoma’s Consumer Litigation Funding Act, which sets forth requirements regarding:
- Lending licenses
- Oversight agencies
- Avenues for complaint
- Appropriate lending practices
In addition to the laws that regulate lawsuit funding in the state, Tribeca Lawsuit Loans also abides by industry best practices. We are dedicated to helping Oklahomans have the financial security to get the justice they deserve without risk.
How Our Funding Is No-Risk
Oklahoma lawsuit loans are considered non-recourse lending. That means you are NOT held personally liable for the debt. Instead of being tied to your personal finances, the debt is tied to your eventual payout in your lawsuit.
You repay Tribeca the agreed-upon portion of your compensation package once your case concludes.
- The agreed-upon portion is all the collateral we can take.
- We never touch your bank account for repayment purposes.
- If you lose your case and do not get a payout, you don’t have to pay us back at all!
Is There Interest on Oklahoma Lawsuit Loans?
Tribeca does charge interest on our legal funding. However, unlike some other lenders you might run into, we only charge simple interest. This means that each month, the interest rate is charged to your original principle rather than the total amount accrued.
While allowing our investors to cut back on their risk, simple interest also saves you money over the more expensive compound version.
Cases that Are Eligible for Oklahoma Legal Funding
Tribeca Lawsuit Loans provides funding to Oklahomans in a variety of litigation circumstances. We’ve helped thousands of clients in a range of cases like:
- Car accident claims
- Whistleblower or Qui Tam cases
- Employment discrimination
- Labor law violations
- Product liability
- Premises liability (slip and fall accidents)
- Medical malpractice lawsuits
As long as you are the claimant who stands to receive compensation, and as long as you are represented by an attorney or law firm, you likely qualify for an Oklahoma lawsuit loan. Apply today and tell us about your case. As quickly as possible, our underwriting team will get back to you with an estimate of how much funding we can provide in your situation.
Pre-Settlement Funding for Out of State cases
Oklahomans can also qualify for pre settlement loans for cases that are being negotiated out-of-state. You’ll need to meet the same qualifications as in-state lawsuit loans to apply for these legal loans. Tribeca Lawsuit Loans offers nationwide coverage and can assist you regardless of where your lawsuit was filed.
Get Your Oklahoma Lawsuit Loan Fast
Tribeca Lawsuit Loans has a 94% client acceptance rate, and we’re ready to add you to our list of satisfied customers. Fill out the form on our Apply Now page to get the ball rolling. You can also call our office at (866) 388-2288 to speak with a team member with questions about the legal funding process, help on your application form, or other matters.
We offer lawsuit loans in the following locations:
FAQs
What is the civil lawsuit process typically like in Oklahoma?
The civil lawsuit process in Oklahoma typically starts with the filing of a complaint, which outlines the plaintiff’s case against the defendant. Following this, the defendant is served with a copy of the complaint and is required to respond within a given timeframe. After the initial pleadings, both parties engage in discovery, a pre-trial process where evidence is gathered. This can include depositions, interrogatories, and requests for documents. If the case is not settled out of court, a trial will take place where the court or jury decides the outcome based on the evidence presented. If the plaintiff prevails, the court will award damages. This entire process can be lengthy, often taking months or even years to resolve.
How does pre-settlement funding work in Oklahoma?
Pre-settlement funding, often referred to as a lawsuit loan, is a cash advance given to a plaintiff in a lawsuit, based on the expected settlement or judgement. In Oklahoma, the process starts with the plaintiff applying to a trusted lawsuit funding company, detailing their case and legal representation. The company then evaluates the case’s strength, potential settlement amount, and likelihood of a successful outcome. If approved, the company determines the loan amount based on these factors. This loan is non-recourse, meaning if the plaintiff loses, they don’t have to repay the amount. Once the lawsuit concludes and if a settlement is reached, the plaintiff repays the loan principal, interest, and any associated fees.