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High Rise Financial offers loans to those involved in personal injury lawsuits. Our team can discuss our legal funding options with you. For more information, reach out to us.
Personal Loan Options
A bank or credit union may offer a personal loan you can use while you are in the middle of an injury lawsuit. A personal loan is not necessarily available to everyone. To find out if you qualify for one, you may need to undergo a credit check, share your financial history, and submit an application.
The process of getting approved for a personal loan may take days or weeks to complete. If a lender accepts your request, you may receive a loan in accordance with its terms and conditions. You may be charged interest on your loan and be required to make monthly payments on it.
Regardless of how your injury case turns out, you are responsible for paying back a personal loan. A bank or credit union does not account for the fact that you may not receive any compensation in your lawsuit. In the worst-case scenario, a judge or jury may rule in a defendant’s favor, you may not get any damages, and you may be stuck having to pay your loan out of your own pocket.
To apply for free, call (877) 735-0016
Legal Loan Options
If you have a pending lawsuit, you may be eligible for legal funding. To secure this funding, you must hire an attorney. From here, your lawyer may help you submit your application and serve as your point of contact with your pre-settlement funding company.
A lawsuit funding company may not need to check your credit or financial history. It may look at the details surrounding your injury case. This information helps the business determine your eligibility for a loan and how much money it may be able to offer.
When you get a legal loan, you do not have to make monthly payments on it. The loan is contingent on your case result. If you do not get any damages, you do not have to repay your funding.
How the Pre-Settlement Loan Application Process Works
You may be able to apply for pre-settlement funding online or over the phone. During the application process, you may be asked for your contact information and details about your injury case. The entire process may take only a few minutes to complete.
It may take about 24 hours to process a legal loan request. A pre-settlement funding provider can give you a personalized loan quote. It provides the terms and conditions of its loan and makes sure you understand all it entails.
At High Rise Financial, we make sure you do not have to wait too long to secure legal funding. We can help you request pre-settlement funding. To learn more, contact us today.
What You Have to Pay to Get a Loan on a Pending Lawsuit
There are no upfront fees when you apply for legal funding. You can submit your application free of charge. If you decide not to move forward with a loan after you apply for funding, you do not get charged anything.
A legal loan may include an interest rate. Your legal funding company provides information about your loan’s interest rate when it gives you a quote. At this point, you can share any concerns or questions you have about this rate and other aspects of your loan.
No other fees are applied outside of interest on a legal loan. You do not have to pay a processing fee if you get compensation and have to repay your funding. Along with this, your attorney may help you with loan repayment.
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How to Pay Back a Loan from a Pending Lawsuit
If you get a legal loan and receive compensation in your injury case, you are required to pay back your funding. Your attorney may take care of your loan repayment. They can deduct the amount you owe from your settlement, pay your legal funding company, and give you the remainder.
In a case where you receive no compensation, your attorney lets your lawsuit funding company know. They notified the business and explained that no money was given to you. This prompts the company to dismiss your loan balance, and you keep the money already provided to you.
Once you receive compensation and pay back your legal funding, you are in the clear. If you are ever involved in another injury case, you may qualify for a lawsuit loan again. You may be able to reach out to the lawsuit funding company you previously worked with to request another loan.
When to Request a Loan Due to a Pending Lawsuit
Legal funding is available to those involved in a personal injury case. There is no such thing as a one-size-fits-all injury lawsuit. Some of the types of cases where plaintiffs may pursue lawsuit funding include:
- Car accident
- Motorcycle accident
- Truck accident
- Pedestrian accident
- Slip and fall accident
- Workplace accident
- Defective product
- Medical malpractice
- Nursing home abuse
- Dog bite
If you are weighing the pros and cons of getting a personal loan versus other options, consider all that lawsuit funding has to offer. Legal funding gives you money you can use right away without the risks that come with many traditional loan options. In addition, your lawsuit loan may help you stay financially afloat while your lawsuit is ongoing and remain in the best position to secure a reasonable amount of compensation.
Explore Pre-Settlement Funding Options
High Rise Financial is a leading provider of legal funding to those who want to get a loan on a pending lawsuit. We offer pre-settlement loans to plaintiffs across the United States and can help you secure up to $100,000 in funding. To get started, contact us today.
Call or text (877) 735-0016 or fill out our form to apply today for free.