At Tribeca Lawsuit Loans, we offer same day pre-settlement funding in Rhode Island at very competitive interest rates.
We provide lawsuit loans to those currently in a plaintiff’s lawsuit, including civil and personal injury lawsuits 🙂
We can facilitate an advance ranging from $500 to $2,000,000 in cash, contingent on the value of your injury lawsuit case. We have garnered very positive reviews and ratings from previous customers and have a broad presence throughout Rhode Island. We’re capable of providing you with a cash advance in as fast as 24 hours! Apply Now online or call us at (866) 388-2288
No credit check or proof of income is necessary for our lawsuit settlement loans since you don’t need to repay Tribeca if you lose your case.
Three Steps To Your Pre-Settlement Funding
Step 1: APPLY for Lawsuit funding in Rhode Island now
Apply for free via our online application. Our settlement 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 Capital Group (our underwriter) sends a contract detailing terms of funding. Cash is distributed quickly and securely. You can get your same day pre-settlement loans as soon as your application is approved.
What Cases Do We Lend for in Rhode Island?
We at Tribeca offer litigation financing for a diverse array of cases in Rhode Island. Our legal funding company provides settlement advances to help plaintiffs navigate the Ocean State’s unique legal landscape.
In Rhode Island’s compact mix of urban areas, coastal communities, and historic towns, accidents and legal disputes can arise in various settings. We offer lawsuit cash advances for cases involving:
- Car crashes on I-95 and Route 146
- Boating accidents in Narragansett Bay and along the coastline
- Truck accidents at the Port of Providence and major distribution centers
- Pedestrian incidents in busy urban areas like Providence and Newport
- Bicycle accidents on the East Bay Bike Path and other popular routes
- Weather-related incidents, including nor’easter-related accidents
- Construction zone collisions in rapidly developing areas
- Public transit accidents involving RIPTA buses and trolleys
- Tourist-related incidents at popular beaches and historic sites
These accidents often lead to severe injuries like traumatic brain injuries, spinal cord damage, and complex fractures. Our pre-settlement financing also covers slip and fall cases at popular tourist destinations, workplace injuries in manufacturing and healthcare industries, and premises liability claims at events like the Newport Folk Festival.
Beyond personal injury loans on settlements, we provide legal claim funding for medical malpractice suits, employment disputes in various sectors, and environmental lawsuits. Our litigation advance services even extend to unique Rhode Island scenarios like injuries from maritime industry accidents, cases related to the state’s jewelry manufacturing sector, and disputes involving historic preservation or coastal property rights.
Tribeca’s lawsuit financing options ensure Rhode Island plaintiffs can stand up to large corporations or government entities without financial strain, allowing them to seek justice in the spirit of the state’s founder, Roger Williams, who championed individual rights and fair treatment.
Your Case Determines How Much You Receive as a Rhode Island Lawsuit Loan
One of the most common questions people ask is how much money they can expect, and what determines that amount. Our underwriters look at the details of your Rhode Island lawsuit when estimating how much funding we can provide.
Factors that have an impact on the amount of pre-settlement funding we can approve in your case include the expected duration of your lawsuit, how much you expect to receive as compensation of course, your total damages, and any issues related to fault or liability that may reduce the amount of compensation you receive.
What Interest Rates can Rhode Island Plaintiffs Expect for Pre-Settlement Funding?
Rhode Island plaintiffs can expect competitive interest rates for pre-settlement funding, typically starting around 2-3% per month. Tribeca Lawsuit Loans offers ONLY simple interest rates, which means interest is calculated only on the principal amount borrowed. The exact rate depends on various factors, including the strength of the case, expected settlement amount, and anticipated duration of the legal proceedings.
It’s important to note that Rhode Island does not have specific regulations capping interest rates on lawsuit loans. However, reputable lenders like Tribeca strive to keep rates reasonable and transparent. Plaintiffs should carefully review the terms and discuss them with their attorneys to ensure they fully understand the interest structure before accepting a legal funding offer.
What Expenses are Associated with Lawsuit Cash Advances in Rhode Island?
Lawsuit cash advances in Rhode Island come with specific costs that borrowers should understand. The primary expense is the funding fee, which is a percentage of the advance amount and varies based on the case’s complexity and duration. Tribeca Lawsuit Loans typically charges simple interest, avoiding compound interest that can escalate costs.
Additional fees may include underwriting and wire transfer charges, though these are often minimal. It’s important to note that Rhode Island residents only repay the advance if they win their case, as these are non-recourse loans. The total cost is deducted from the settlement amount, ensuring transparency and preventing out-of-pocket expenses for plaintiffs during their legal proceedings.
What is the Maximum Amount Available for a Rhode Island Lawsuit Loan?
The maximum amount available for a Rhode Island lawsuit loan varies depending on the specific case details. Typically, Tribeca Lawsuit Loans offers funding ranging from $500 to $2,000,000 for qualified plaintiffs. The exact amount is determined by evaluating several factors, including the strength of the case, expected settlement value, and potential duration of the legal proceedings. Rhode Island’s legal landscape and the nature of the lawsuit also play a role in determining the maximum funding amount.
It’s important to note that most lenders, including Tribeca, generally limit the advance to 10-20% of the anticipated settlement to ensure the plaintiff retains the majority of their compensation. This approach helps maintain the integrity of the legal process while providing necessary financial support.
How Rhode Island Lawsuit Loans Are Repaid
Since our funding is non-recourse, you never have to worry about repaying a lawsuit loan from your personal bank account. Instead, the agreed-upon repayment amount is taken directly from your eventual settlement or jury award, and you keep the rest!
Your personal injury attorney will receive a check for your compensation package and will write Tribeca a repayment check out of that amount. There are no monthly fees to worry about, no risk of default, and no need to repay us at all if you end up losing your claim. That’s why we say our Rhode Island lawsuit loans are risk-free for you.
Are Lawsuit Loans Legal in Rhode Island?
Yes, it’s legal to enter into a legal funding arrangement in Rhode Island via a lawsuit loan. However, in 2015, legislators found that many companies were providing lawsuit loans at rates that would have been unacceptable for other forms of lending. To help protect consumers, the state enacted House Bill 5762, which officially includes lawsuit loans under anti-usury laws.
Tribeca Lawsuit Loans provides litigation funding (both pre and post-settlement funding) in RI–we are fully licensed to offer pre-settlement funding in Rhode Island and we adhere to all industry best practices. That includes:
- Charging only simple interest rather than compound interest
- Providing non-recourse loans exclusively
- Never holding you personally liable for any loan-related debt
- Requiring NO REPAYMENT at all if you lose your lawsuit
Laws and Regulations of Lawsuit Funding in Rhode Island
Fault Laws in Rhode Island Pure Comparative Fault:
Plaintiff’s negligence may be considered in his right to recovery under R.I.G.L. § 9-20-4.
Statute of Limitations
23 years as per Title 9, Ch. 1, Sec. 9-1-14.
Minimum Policy Limits for Bodily Injury & Property Damage:
Bodily injury liability: $25,000 per person and $50,000 per accident. Property damage liability: $25,000 per accident.
Minimum UIM Auto Insurance Limits:
Liability limits are set at 25/50/25.
Worker’s Compensation Information
Workers are eligible for compensation. All employers within Rhode Island must provide worker’s compensation insurance. This no-fault system compensates those injured on the job for medical bills, lost injuries, and permanent impairments resulting from their injuries. This includes both traumatic injuries and occupational diseases.
Fill Out Our Free Rhode Island Lawsuit Loan Application Today!
Need relief from financial stress? Apply for a Rhode Island lawsuit loan today, so your attorney can keep fighting for the compensation you deserve while you focus on healing. Enjoy peaceful moments at Newport’s Cliff Walk or Narragansett Beach, without the worry of bills.
Call us at (866) 388-2288 for help with the application or to learn more about the process. We provide personal injury and post-settlement funding to support you through your legal journey.
We offer lawsuit loans in the following locations:
- Providence
- Warwick
- Cranston
- Pawtucket
- East Providence
- Woonsocket
- Newport
- Central Falls
- Westerly
- North Providence
- South Kingstown
- West Warwick
- Coventry
- Cumberland
- North Kingstown
- Johnston
- Lincoln
- Bristol
- Smithfield
- Barrington
Just like the steady Point Judith Lighthouse, our team is experienced in dealing with insurance companies and is here to guide you every step of the way.
FAQs
How do I qualify for a lawsuit loan in Rhode Island?
In the event of an injury caused by another individual or entity, you immediately become eligible for pre-settlement funding in Rhode Island.
How does the insurance company factor into lawsuit loans?
Insurance companies often try to delay settlement negotiations, hoping plaintiffs will accept lower offers due to financial pressure. With a lawsuit loan, you can better withstand these tactics and give your personal injury attorney time to negotiate a fair settlement.
How safe are settlement loans for Rhode Island residents?
Settlement loans are generally safe for Rhode Island residents due to their non-recourse nature. These financial products are designed to protect borrowers from financial risk. If the plaintiff loses their case, they owe nothing to the lender, eliminating the burden of repayment in unfavorable outcomes.
Reputable companies like Tribeca Lawsuit Loans adhere to ethical lending practices, ensuring transparency in their terms and conditions. The safety of these loans is further enhanced by the fact that they don’t require credit checks or collateral. However, it’s crucial for Rhode Island residents to carefully review agreements and consult with their attorneys before accepting any pre-settlement funding to fully understand the terms and potential impact on their case.
What are the advantages and disadvantages of obtaining legal funding in Rhode Island?
Obtaining legal funding in Rhode Island offers several advantages and disadvantages.
The primary benefit is immediate financial relief, allowing plaintiffs to cover living expenses and medical bills during lengthy litigation. This financial buffer can prevent plaintiffs from accepting low settlement offers due to financial pressure. Additionally, legal funding is non-recourse, meaning borrowers owe nothing if they lose their case.
However, the main drawback is the cost, as interest rates can be higher than traditional loans. Some critics argue that legal funding may complicate settlement negotiations or prolong litigation. It’s also important to note that the funding amount is limited to a percentage of the expected settlement. Plaintiffs should carefully weigh these pros and cons, consulting with their attorneys to determine if legal funding aligns with their case strategy and financial needs.
Are personal injury settlements subject to taxation in Rhode Island?
Personal injury settlements in Rhode Island are generally not taxable at the state or federal level, with some exceptions. The portion of the settlement compensating for physical injuries or illness is typically tax-exempt. However, any part of the settlement allocated for lost wages, punitive damages, or interest may be subject to taxation. Rhode Island follows federal tax guidelines in this regard.
It’s important for plaintiffs to consult with a tax professional or personal injury attorney to understand the specific tax implications of their settlement. The structure of the settlement agreement can significantly impact its taxability, so proper planning is essential. Tribeca Lawsuit Loans recommends that Rhode Island residents seek expert advice to navigate the tax considerations of their personal injury settlements effectively.