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Presettlement funding refers to the provision of financial support to plaintiffs involved in legal cases who require immediate cash before the settlement is reached.
Medical procedure funding is a type of financing that helps patients pay for expensive medical treatments & procedures may not be covered by insurance.
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You Have Questions, and We Have Answers…
A pre-settlement loan is a type of loan that is given to a plaintiff in a lawsuit before the settlement is reached. This type of loan is also known as a lawsuit loan, settlement funding, or legal funding. The loan is given to the plaintiff based on the potential settlement or award that they are likely to receive from the lawsuit.
The purpose of a pre-settlement loan is to provide financial support to plaintiffs who may be struggling to pay their bills, medical expenses, or other living expenses during the lengthy legal process. These loans can be used to cover various expenses such as rent, car payments, groceries, and medical bills.
It is important to note that pre-settlement loans typically come with high-interest rates and fees, and they are not regulated like traditional loans. Therefore, it is important to thoroughly research the terms and conditions of any pre-settlement loan before accepting it.
Yes, you can get a loan against your injury case through a pre-settlement funding company. These companies provide loans to plaintiffs who are involved in personal injury lawsuits and who need financial assistance to cover their expenses during the legal process.
The amount of the loan is based on the potential settlement or award that the plaintiff may receive from the lawsuit, and the interest rates and fees can be high. However, the loan is non-recourse, meaning that the plaintiff is only required to repay the loan if they win the case or receive a settlement.
It is important to note that pre-settlement funding is not available in all states, and the laws regulating pre-settlement funding can vary by state. Additionally, not all personal injury cases may be eligible for pre-settlement funding. It is recommended that you consult with an attorney or a pre-settlement funding company to determine if this option is right for you.
Pre-settlement funding, also known as lawsuit funding or legal funding, is a financial service that provides cash advances to plaintiffs who are involved in a legal dispute or lawsuit. This type of funding is typically offered by specialized companies that provide the plaintiff with a cash advance in exchange for a portion of the potential settlement or judgment amount.
The purpose of pre-settlement funding is to help plaintiffs who are struggling financially during the legal process, such as those who have suffered a personal injury and are unable to work, pay medical bills, or cover other expenses. Pre-settlement funding allows plaintiffs to obtain immediate cash to cover these expenses, rather than waiting for the lawsuit to be settled or resolved.
Unlike traditional loans, pre-settlement funding is non-recourse, which means that the plaintiff is not required to repay the loan if they do not win the case or receive a settlement. Instead, the funding company only collects repayment if and when the plaintiff receives a settlement or judgment amount.
It is important to note that pre-settlement funding can be a more expensive form of financing, as funding companies often charge high interest rates and fees. Therefore, it is recommended that plaintiffs carefully consider all options before deciding to pursue pre-settlement funding.
The time it takes to get a pre-settlement loan can vary depending on the pre-settlement funding company you choose and the complexity of your case. Typically, it takes between 24 to 48 hours to receive approval and funding, but it can sometimes take longer if additional information is needed.
The application process for a pre-settlement loan usually involves filling out an online or paper application, providing documentation related to your case, and speaking with a representative from the funding company. Once the application is approved, the funds can be deposited directly into your bank account or sent to you via check.
It is important to note that pre-settlement funding companies will evaluate the strength of your case before providing funding, so it may take longer if your case is complex or if additional information is needed. Additionally, some funding companies may have a minimum funding amount, so be sure to check with the company to determine if you are eligible for funding.
No, the lawyers do not make money off your pre-settlement loan. Pre-settlement funding is a financial service provided by specialized companies that offer cash advances to plaintiffs in exchange for a portion of their potential settlement or judgment amount. This service is separate from the legal services provided by your attorney.
Your attorney is only compensated for their legal services through a contingency fee, which is a percentage of your settlement or judgment amount. The pre-settlement funding company does not take any part of your attorney's fee.
However, it is important to note that some pre-settlement funding companies may require that your attorney provide information about your case or sign off on the funding agreement. This is typically to ensure that the funding company has accurate information about your case and the likelihood of a successful outcome.
Overall, pre-settlement funding is a separate financial service that does not impact your attorney's fee or compensation. It is important to understand the terms and fees associated with any pre-settlement funding agreement before signing it, and to consult with your attorney before making any decisions about funding.
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