It is not always easy to pursue justice after an injury or illness, especially if the at-fault party is a large company with deep pockets and a team of lawyers. Often, the only way to stand a chance is by joining a class action with others who’ve also been wronged.
Although often effective, class action lawsuits tend to drag on for years. This is because the defense will delay, trying to force the lowest possible settlement while you wait for your much-needed compensation. Thankfully, you may be able to access your payment now with class action legal funding from High Rise Financial.
What You Need to Know About Class Action Lawsuits
The plaintiffs in a class action suit are a group of people who have suffered similar damages because of the actions of a single person or corporation. Rather than filing several individual claims, the group pools its resources to fight the injustice more effectively.
Joining a class action may boost your odds of success against the at-fault party, yet it could also mean a lower settlement than what you could receive by yourself. Class members agree to accept the suit’s outcome, and they are not permitted to file another lawsuit outside the class action for the same damages.
A class action lawsuit is typically filed against large, wealthy, or powerful entities like banks, manufacturing companies, or government agencies. The goal is to recover some of your losses and also prompt the negligent organization to make changes to protect others from suffering similar damages in the future.
Can You Get a Cash Advance on a Class Action Lawsuit?
Like any other personal injury lawsuit, you can get an advance of up to 20% of your expected settlement in a class action lawsuit. In addition, the class members do not apply for lawsuit funding as a group, which means each plaintiff in the suit is free to pursue financing individually.
Qualifying for legal funding from a third-party company like High Rise Financial differs from qualifying for a bank loan. We don’t run a hard inquiry on your credit report, analyze your bank account statements, or require proof of income or collateral. Instead, your eligibility depends entirely on the strength of your lawsuit.
If the class action is successful, the pre-settlement funding you have received plus fees and interest are paid back out of your settlement. If it fails, you are not personally responsible for repaying any of the money, and the funding company has no recourse to get it back from you. This protects you and your assets from risk.
Why You Need Class Action Pre-Settlement Funding
The nature of class action lawsuits often leads to lengthy, drawn-out court battles and extensive back-and-forth negotiations to determine the final settlement amount. Even after both sides reach an agreement, it can still take time for the plaintiffs to get their share.
As you wait for your class action suit payment, you may struggle to stay on top of your medical bills or other day-to-day living expenses. In addition, if your injuries were severe enough to interfere with your ability to work, you might also have to adjust to living with a reduced income.
Class action pre-settlement funding can place your settlement money into your hands today so that you don’t have to wait months or years to be compensated. Although you may not be allowed to pay for legal services with the money you receive, you can use it toward any other expense, including:
- Medical costs like doctor bills and medication
- Mortgage or rent payments
- Utility bills
- Child care costs
- Car payment or repairs
- School tuition
Class Action Examples That May Qualify for Legal Funding
For a group of people to join in a class action, they must be bringing similar complaints against the same defendant. Additionally, there must be a large enough group in the class that individual suits would be an impractical burden to the legal system.
Typical class action cases include incidences of:
- Faulty merchandise, medical devices, or medication cause consumer injury or illness
- Artificially inflated prices by companies who stifle competition or engage in price gouging
- Employers that discriminate against a group of their employees based on their religion, age, or gender
- Financial scams that mislead and steal from investors
- Negligent business practices that endanger a community through chemical or radiation exposure
Any class action lawsuit with a high probability of success will likely be eligible for legal funding. For example, we work with plaintiffs involved in legal action against the manufacturers of the following faulty medical devices and defective drugs:
Fund Your Class Action Suit With High Rise Financial
Why wait for your settlement when you can get the money you need right away? At High Rise Financial, we offer fast funding with no hidden fees or risks to you. Our transparent pricing means you’ll never be surprised by unexpected costs when your settlement comes in.
Plus, if your class action ends without a settlement, the money is yours to keep. So, let us help you get back on the path to financial freedom. Apply for legal funding to access your class action settlement by filling out our online contact form today.