Can I Borrow Money From My Lawsuit?

Whether it is a personal injury lawsuit, auto accident case, or civil claim, being involved in a lawsuit can be stressful and might lead to financial instability. Medical bills, lost wages, and daily living expenses don’t stop just because you’re waiting for a settlement. If you need money before your case is resolved, pre-settlement funding offers a way to access your expected settlement early.

While some people may consider this as “borrowing money from your lawsuit,” it’s not a traditional loan. Instead, it’s an advance based on the value of your case, and repayment only happens if you win. In this article, we’ll go over how pre-settlement funding works, who qualifies, and if you can apply with bad credit. We will also enlighten you about whether you need to repay it if you borrow money from your lawsuit.

How Pre-Settlement Funding Helps Claimants Get Cash Early

Pre-settlement funding is a financial solution designed for people (plaintiffs) who have active personal injury or civil lawsuits but need money before the case settles. This type of funding provides an advance based on the expected value of your settlement. Hence, lawsuit loans allow claimants to cover essential expenses while waiting for their payout.

One of the biggest advantages of pre-settlement funding is that it is risk-free. Essentially, repayment only occurs if you win or settle your case. Therefore, you don’t have to worry about monthly payments or financial strain. This also makes lawsuit loans quite different from traditional bank loans, which require credit checks, interest payments, and debt obligations even if your case is unsuccessful.

Many claimants use pre-settlement funding to pay medical bills, rent, groceries, and other living expenses. This can help you achieve financial stability during long legal battles. Thus, if you would like to borrow money from your ongoing lawsuit, then you should consider applying for a risk-free lawsuit loan.

The Process of Borrowing Money against a Lawsuit Settlement

Applying for pre-settlement funding with High Rise Financial is a quick and simple process. First, you express interest in applying for legal funding by notifying our dedicated representatives. Then, you need to submit an application to us and provide basic details about your lawsuit. Unlike traditional lenders, we do not require credit checks, employment history, or proof of income—instead, we base our decision on the strength and potential value of your case.

Next, we work closely with your attorney to evaluate your claim. We will also examine how long it may take your case to settle and how much you are likely to get. Since repayment comes from your settlement, your lawyer plays a key role in confirming your likelihood of winning and your expected compensation amount. This allows us to determine if you qualify and how much funding you qualify for.

Once approved, we’ll send funds to your account as quickly as possible, typically soon after attorney confirmation. You can use the money to cover urgent expenses and other financial needs immediately. Unlike traditional loans, there are no monthly payments or upfront fees, repayment happens only after you win or settle your case.

Who Qualifies for a Lawsuit Loan?

However, not all lawsuits qualify for pre-settlement funding. At High Rise Financial, we base our legal funding decisions on the strength and potential value of your case. This means that you must meet certain requirements before you can be eligible. Here are some key eligibility factors:

• You must have an active lawsuit. Lawsuit loans are available only to plaintiffs currently involved in legal cases and seeking financial compensation.
• Your case must have a high chance of winning or settling. If your lawsuit is strong and backed by substantial evidence, you are more likely to be approved for funding.
• You must have an attorney. Our trusted team will work directly with your legal counsel to determine your eligibility, review your case, and ensure proper repayment once your case settles.
• Your expected settlement must be large enough to cover funding. The lawsuit must have a high enough compensation amount to justify financial assistance.
• Your case must be related to personal injury, auto accidents, medical malpractice, or other civil claims.

How Much Money Can You Borrow Against Your Lawsuit?

What’s more, the amount of pre-settlement funding that you qualify for depends on several factors, including:

• The estimated settlement value
• The strength of your legal claim
• Your financial need
• The length of time until your case is resolved
• Your attorney’s cooperation in the funding process

Since lawsuit loans are based on expected settlement payouts, funding providers determine the advance amount based on your case’s worth and likelihood of success. 

Can I Borrow Money From My Lawsuit If I Have a Bad Credit Score?

Yes! Bad credit does not affect your ability to qualify for pre-settlement funding. Unlike traditional loans, which rely on credit scores and income verification, lawsuit loans are approved based on your case’s strength. This means that even if you have poor credit, no credit score at all, or past financial struggles, you can still receive funding as long as your lawsuit has a high chance of winning.

Also, since repayment comes from your settlement, not your personal finances, we do not require credit checks, collateral, or employment verification. This makes our lawsuit loans at High Rise Financial one of the best financial solutions for claimants who need cash assistance but don’t qualify for bank loans due to credit history.

If I Borrow Money from My Lawsuit, Do I Have to Repay?

Furthermore, our pre-settlement loans are non-recourse. As such, repayment for the legal funding only happens if you win or settle your case. Unlike regular loans, where monthly payments are required no matter what, lawsuit loans are totally safe. This means that you never owe anything if your case is unsuccessful.

If you win, repayment is handled directly from your settlement amount, meaning you don’t have to pay out of pocket. Your attorney will ensure that we receive repayment before your remaining settlement is transferred to you. This removes financial stress and ensures that you receive the financial support you need during your legal battle.

Contact High Rise Financial for Affordable Lawsuit Funding

If you’re struggling to pay bills while waiting for your settlement, applying for a lawsuit loan may be right for you. Contact us at High Rise Financial for a one-on-one consultation to determine your eligibility. Our trusted experts can enlighten you about the cases we fund and guide you through the application process. Call (866) 407-6404 today to apply.