Bellevue lawsuit loans are available if you’re facing lengthy settlement negotiations. It can take months or sometimes even years for you to receive the money from your settlement. Unfortunately, few people have the financial means to wage a long fight such as this.
With a lawsuit loan, also known as a pre-settlement loan or litigation funding, you can borrow against the expected value of your future settlement. This money can be enough to tip the scales of your legal fight in your favor. Find out how to get a lawsuit loan and if it’s right for you.
What Is a Bellevue Lawsuit Loan?
Bellevue pre-settlement funding allows plaintiffs to get access to money from their expected settlement now. This money comes in the form of a non-recourse loan that doesn’t need to be repaid if you lose your case. If you win your case, your attorney will repay the loan from your settlement, but if you lose, you owe nothing.
Defendants, especially insurance companies, have deep pockets and often try to drag out settlement negotiations. Their hope is that you will eventually throw in the towel and accept a lower settlement simply because you can’t afford to keep up your legal fight. A settlement loan can level the playing field while presenting no risk to your own finances.
What Are the Advantages of Lawsuit Loans in Bellevue?
Lawsuit loans offer a number of advantages and have to be seen in comparison to alternatives such as personal loans or credit cards. For one, they don’t need to be repaid if you lose your case, unlike those other forms of recourse debt. The IRS considers legal loans to be a form of non-recourse debt and even treats it as an investment, leaving lenders to hold all of the risk.
It’s also much easier to obtain a lawsuit loan than it is to get a second mortgage or personal line of credit. Typically, you can obtain legal funding in Bellevue in as little as a day, even if you have poor credit or no employment history. A lawsuit loan also removes some of the risk from your own lawsuit, allowing you to get some of the money now at no risk instead of leaving it on the table.
Are Lawsuit Loans in Bellevue Legal?
Settlement loans are legal in Bellevue, but there’s very little official regulation around them. This means you’ll need to carefully research any potential legal funding companies that you work with. A reputable legal funding company like Tribeca Lawsuit Loans will have a transparent application process and won’t overcharge you for your lawsuit loan.
How Do You Get a Lawsuit Loan in Bellevue?
The process for obtaining a lawsuit loan in Bellevue is simple if you’re involved in a pending settlement. Take the following steps and you may be able to get the funding you need quickly and without hassle.
Apply for a Lawsuit Loan
In order to get a lawsuit loan, you’ll first need to apply with a Bellevue legal funding company that offers them. They’ll want to see information about your case but won’t consider your financial state when lending to you. You can have poor credit and no assets and still receive a loan. This is because lawsuit loans are nonrecourse and your settlement is the collateral for it.
The Underwriting Process
To determine how much pre-settlement funding in Bellevue you can receive, the legal funding company’s underwriters will speak with your lawyer about your case. They’ll determine how much money to lend to you based on the potential size of your settlement. If it seems clear that you share no fault in your damages, you’ll be able to receive more legal funding at a lower rate.
Receiving Your Money
After a brief wait, often 48 hours or less, you’ll receive a decision from the lawsuit loan company and your money should they decide to fund your case. The money is yours to spend however you want and you don’t have to worry about paying it back. If you win your case, any repayment will come exclusively from your settlement, and if you lose, you will repay nothing.
Apple for a Bellevue Lawsuit Loan Today
If you’re facing settlement negotiations, you can apply for a lawsuit loan in Bellevue today. At Tribeca Lawsuit Loans, we can offer generous financing with low interest rates. We’ll work closely with you to get you the best offer possible for your legal loan. Contact us today to see if you qualify for the settlement loans you need to fight for the justice you deserve.
Once you receive your funding, it’s yours to keep and spend however you want and you don’t need to worry about paying it back. You’ll never owe more than your settlement is worth, and most of our clients have a substantial amount of their settlement left over once their lawsuit loan is repaid.