Employment Law Loans for Wrongful Termination Lawsuits

Wrongful termination occurs when an employee is fired for an unjust or illegal reason, or in violation of an existing contract. Though many states adhere to at-will employment laws, employees still have recourse in many instances where they have been terminated. 

If you’re fighting for a settlement in a wrongful termination case, finding the money to do so can be challenging. An employment law loan for a wrongful termination lawsuit can give you some money from your settlement now. Find out if pre-settlement funding is right for your case.

What Is Wrongful Termination?

Wrongful termination occurs when an employee is illegally fired. Though at-will employment laws give employers broad leeway in hiring and firing, they do not have an unrestricted ability to do so. The three exceptions to an employer’s ability to hire and fire at will are as follows:

• Public policy: Under the public policy exception, employers can’t fire an employee if doing so would be against state employment policy, such as in retaliation for an employee filing a complaint. 
• Implied contract: Under the implied contract exception, employers can’t fire an employee if doing so would break a contract of employment, such as if they state they will only fire someone for a just cause.
• Implied covenant of good faith: The implied covenant of good faith exception is the most sweeping and requires employers to maintain good faith in all employment relations. This gives employees broad protection from arbitrary firing.

While on paper employers in at-will states have expansive powers, courts in recent years have reined these in and given employees more recourse in the event that they are fired. That has made wrongful termination litigation viable for more people than ever. Depending on the circumstances of your termination, you could qualify for a lawsuit and legal funding.

What Are Some Examples of Wrongful Termination?

Wrongful termination cases can take many forms, and some are more recognizable than others. Some of the most common types of wrongful termination lawsuits are due to the following:

• A person’s race, nationality, gender, or age (a violation of Title VII of the Civil Rights Act)
• Legal immigration status (a violation of the Immigration Reform and Control Act of 1986)
• Retaliation (a violation of the Equal Employment Opportunity Commission, equal pay laws, or Whistleblower Protection Programs)
• Gender identity or sexual orientation
• Jury duty
• Disability (a violation of the Americans With Disabilities Act)
• Refusal to take a polygraph test (a violation of the Employee Polygraph Protection Act)
• Medical reasons (a violation of the Family and Medical Leave Act)

Courts have begun to examine a variety of circumstances around a person’s employment to determine if they were wrongfully terminated. Some of the factors that a court would consider to determine if an employee was wrongfully terminated include the following:

• Length of employment
• Performance reviews
• Frequency of promotions
• Promises of continued employment

What’s Your Wrongful Termination Case Worth?

In order to determine the size of your potential wrongful termination lawsuit settlement or award, we need to look at some factors around your employment. Unfortunately, it’s not possible to give an accurate estimate of what you can expect from your case without first looking at these specific facts:

• How long you were employed
• How much you were making at the time you were fired
• Your performance history
• The length of your leave (if applicable)
• Any existing evidence of or witness testimony to malfeasance

Other factors not listed here may be taken into consideration when determining the legitimacy of your case. Though we can’t give you a precise estimate of your potential award yet, some studies indicate that half of wrongful termination lawsuits settle for anywhere from $5,000 to $40,000. At the high end, some wrongful termination cases settle for $6 million or more.

With an employment law loan for your wrongful termination case, you can give your attorney the time they need to fight for the maximum payout possible.

How Long Can a Wrongful Termination Lawsuit Last?

While some companies will try to settle a wrongful termination case early, these instances are relatively uncommon. In most cases, a well-funded company will try to fight against a settlement in court in the hopes that the plaintiff, who may have suffered a total loss of income, gives up their case or accepts a much lower settlement than that they could possibly win.

A wrongful termination lawsuit can last for years, making legal funding a must for many plaintiffs. Instead of waiting to receive their settlement, or taking a gamble that may end in them receiving nothing, a lawsuit loan allows plaintiffs to use some of their expected settlement to pay for costs they face now. With this approach, plaintiffs can be better suited for a long fight.

How Do Employment Law Loans for Wrongful Termination Lawsuits Work?

An employment law loan for a wrongful termination lawsuit is a type of non-recourse debt taken out against your expected future settlement. As a non-recourse debt, your personal assets won’t ever be at stake when it comes to repayment. Since the settlement itself is the collateral for the debt, all repayment will come exclusively from it.

You’re under no obligation to repay legal funding from your own finances. If you lose your settlement case, you can still keep whatever funding you already received, which typically amounts to a maximum of 10-20% of your expected settlement. This means a lawsuit loan is a risk-free way to finance your legal fight.

How Do You Qualify for Wrongful Termination Legal Funding?

It’s relatively simple to qualify for an employment law loan for a wrongful termination case. Provided you meet the following conditions, it’s likely that you’ll be able to obtain funding:

• You have filed a wrongful termination lawsuit
• You have retained a contingency-based lawyer

Once you meet the above requirements, you can apply for a wrongful termination lawsuit loan with a legal funding company. They’ll take a look at the specifics of your case and will speak with your lawyer. Provided that your legal representation approves of receiving third-party funding, you could receive your money within days, or even hours in some cases.

Many applicants wonder if they need to be employed to obtain a cash advance on a pre-settlement loan. Whether or not you’ve been wrongfully terminated, you do not need to be employed to obtain the full benefits of legal funding.

Get a Wrongful Termination Lawsuit Loan Today

At High Rise Financial, we can offer you a wrongful termination legal loan of up to $1 million. You can be approved for the money within hours and it could be disbursed to your account in as little as a day. If you have pressing expenses that can’t wait, a legal loan from us could be an effective way to keep your head above water and stay in the fight for your settlement.

We serve clients across the United States and have become one of the largest providers of legal funding nationwide. Our non-recourse employment law loans for wrongful termination suits come with simple, low interest rates and don’t need to be repaid if you lose your case. Contact us today to get started on the application process.