Overwhelmed with all the different legal financial products around? Tribeca understands that in a time when you are stressed and the urgency of needing money is overwhelming, terms and conditions are the last things you want to worry about. Therefore we will try to give you an easy overview of what to look out for and the key differences between lawsuit loans and legal funding, and which one to choose.
Facing a lawsuit will leave you suffering a financial impact more often than not in combination with irreplaceable damage to your health. Your life is disrupted and you cannot do anything about it but wait until you get a settlement. On top of that insurance companies usually try to get out of paying what they owe you, or pressure you to take an earlier settlement. To prevent this from happening, you can use legal funding to receive part of your settlement that you are entitled to in advance so you can continue covering your bills and living expenses.
Legal funding is far superior to lawsuit loans in terms of benefits to the plaintiffs
When looking for a legal financier, lots of terms will come your way and if you are not an expert, things might seem very complicated. Words like legal funding, cash advance, pre-settlement funding, legal loans, all of them seem to do the same things, yet there is a slight difference. And when you are struggling to keep things together you want to make sure you choose the type of funding that supports you and not the financier.
For a free consultation, call 866-388-2288
No Credit Checks With Legal Funding
Lawsuit loans perform credit checks, while legal funding does not require this. A reason why legal funding is superior to lawsuit loans. Legal funding like pre-settlement funding products from renowned legal financiers do not require this. The reason being is that they offer financial help depending on your legal case. If they believe you have a winning case and you have all your paperwork in order, pre-settlement funding can usually be offered within 24 hours of approval of your application.
No Bank Account Reviews with Legal Funding
Lawsuit loans require rigid background checks of your financial life to make sure you will be able to pay them back. This is not the case with legal funding as your personal finances do not make an impact on the application process, because in the case you do not see any form of settlement, you are not obligated to repay a single penny. Therefore this non-recourse structure can be considered the fundamentals of legal funding products.
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If You Lose Your Case You Won’t Have To Repay Legal Funding
The non-recourse nature stipulates that, in case you lose your case, you will never be asked to repay. Legal funding financiers offer the loan on the basis that they believe you have a winning case. This is a chance they take and it is a type of investment, they supply you with part of the settlement to bridge the gap until you receive the larger part of the settlement. Lawsuit loans will always ask you to repay the finances they supplied, no matter what even if you do not win your case, therefore a pre-settlement loan from a reputable legal financier is always your safest option.
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Legal Funding is Not a Loan
Legal funding is different from a lawsuit loan as legal funding is not seen as a loan. In essence, they offer the same thing, which is fast cash to help alleviate financial stress. To make sure you do not get another big financial stress looming above your head, legal funding will never expect you to repay your lawsuit loan when your lawsuit does not reach a settlement. The Lawsuit Loan as the name suggests is a loan that is always repayable. Again legal funding outweighs in benefits compared to lawsuit loan products.
What’s Next?
Give us a call at 866-388-2288 or fill out the online contact form. We have a team of experts at your disposal who can answer all the questions you might have. If you have suffered a major injury because of the fault of someone else and have a lawyer who has started the legal procedures you might be eligible for legal funding.
If you’ve lost your job as a consequence of your injury, and your debt is spiraling out of control, and managing daily expenses is becoming a struggle then Tribeca is here to help supply you with pre-settlement funding products that are in your favor.
Give us a call now and upon approval of your application, we can have your bank account replenished within 24 hours.
Call Now 866-388-2288
Call 866-388-2288 or Apply Now
