Frisco lawsuit loans can prove critical to your fight for the justice you deserve. A lawsuit can take years to settle, and during the process you could face financial pressure to accept a lower award. The defense is likely counting on this, especially if they know they’re responsible for your damages.
With a lawsuit loan, also known as legal funding, you can borrow against your future settlement now. Unlike other loans, you don’t have to worry about paying it back if you lose your case. This makes legal funding a risk-free way to maximize your settlement.
Do You Have to Pay a Lawsuit Loan Back if You Lose?
Lawsuit loans in Frisco are a type of financing that is specific to settlement cases. It allows you to borrow against this expected award to pay for expenses that you face now. You could be looking forward to a sizable settlement, if you can win your case. However, getting to that part is a challenge, especially for families or those who suffered significant losses after an accident.
Legal funding allows you to overcome the financial stress that can go hand-in-hand with a lawsuit. What’s more, legal funding is offered on a nonrecourse basis, meaning you’re under no obligation to pay it back if you lose your case. The IRS classifies legal funding as an investment, which means the legal funding company bears all of the risk.
Why Do You Need Legal Funding in Frisco, TX?
Settlements can take a long time to work through negotiations or the courts, and you need to pay your bills. Healthcare costs, rent and mortgage payments, and daily living expenses can pile up quickly, especially if you lost income or had to change jobs due to the incident that led to your settlement. Legal funding presents a potential source of funds for your legal fight.
The defense will try to drag out negotiations in the hope that you feel the financial pinch. This is especially common in cases in which they believe you will win, as they are guaranteed to have to make a payout to you. With pre-settlement funding, you’ll be in a stronger position to negotiate for the full value of your award.
What Kinds of Cases Are Covered By Legal Funding?
Legal funding can be used in a wide range of cases. In short, if you’re waiting on a settlement, it’s likely that you can obtain a lawsuit loan. Here are a few of the types of cases we fund:
- Car accidents
- Personal injury
- Premises liability
- Medical malpractice
- Defective devices
- Jones Act
- Whistleblower cases
- Qui tam cases
Why Is it Easy to Get Legal Funding in Texas?
Texas has little regulation over how its court cases can be funded, which has made it a leader in the pre-settlement legal funding industry. Much of the modern legal funding industry has its roots in Texas and its laissez-faire attitude to the funding of court cases.
To this day, Texas remains one of, if not the easiest, states in which to obtain legal funding. If you’re in the Lone Star State, you may want to speak to your lawyer about whether getting a lawsuit loan in Texas is the right choice for your situation.
Do I Qualify for Legal Funding?
If you’re looking to get legal funding for your case, you’re in luck: if you’re waiting on a settlement, it’s likely that you qualify for a lawsuit loan. The conditions for receiving pre-settlement funding in Frisco are simple: you must have a pending settlement and a contingency-based lawyer.
Your credit history has nothing to do with whether or not you’ll qualify for legal funding. All that we’ll look at is the quality of your case and the odds of you winning your settlement. This makes lawsuit funding an attractive alternative to other types of fincianing, such as a personal loan, a second mortgage, or more credit cards.
How Much Does Legal Funding Cost?
The amount you’ll pay for a lawsuit loan will vary depending on the strength of your case and which legal funding company you decide to work with. The industry is loosely regulated at best, giving legal funding companies significant leeway in setting prices. As such, it’s impossible to say ahead of time how much you can expect to pay before you apply for a lawsuit loan.
Despite this, there are some commonalities between legitimate legal funding companies that can affect your pricing. For one, you should only expect to pay a low, simple interest rate. Unscrupulous legal funding companies will try to charge an exorbitant interest rate with additional fees that leave you with little (or even nothing) left after your case ends.
Apply for Legal Funding Today
Getting a lawsuit loan in Frisco can turn the tide of your settlement negotiations in your favor. With Tribeca Legal Funding, you can get all of the assistance that you need to fight for the maximum value of your settlement. With a streamlined application process, you can apply in just minutes and be approved and receive money in your account in just 24 hours.
Contact us today to speak with a live agent or visit our site to apply. Legal funding can tip the balance in your case and give you the financial strength that you need to keep up your fight.