If you were seriously injured in a car accident and suffered injuries or ill health due to the negligence of others, you may have hired a lawyer to file a legal claim or personal injury lawsuit. Sometimes, though, it can feel as if the case is taking forever to come to a proper conclusion.
If this is true for you, then money may be getting tight, especially if you are unable to work because of your injuries. The good news is that if you are in the middle of a personal injury case and are working with a lawyer, you CAN borrow against your settlement.
High Rise Financial helps people like you every day with pre-settlement legal funding. If this sounds like something that could help you make ends meet, fill out the form on our Apply Now page. You can also call us at (866) 407-6404 with questions.
How Pre-Settlement Legal Funding Works
At High Rise Financial, we do things a little differently than other loan companies or traditional banks. With pre-settlement legal funding, you are essentially borrowing against your eventual settlement. The amount you are able to borrow has nothing to do with your debt-to-income ratio. Instead, it has everything to do with your expected settlement or jury award. That means:
- NO credit check
- NO proof of employment
- NO providing tax documents
When you apply for our lawsuit settlement loans, we analyze your case, and our underwriters determine what your settlement is likely to be. We then use that number to figure out how much money we can offer you. In some cases, we can provide as much as $250,000 in legal funding.
Once we come to a number, we will present you with a written offer, which you and your attorney must sign before we can proceed. Your financial agreement will spell out how much funding you will receive, what our service fee is, and the total amount that you will need to pay back.
Since pre-settlement legal funding is different from a typical loan, the terms of your agreement are different as well. This means:
- NO monthly payments
- NO compound interest
- NO paying us back if you lose your case
When you borrow against your settlement, you agree to pay us back the amount you borrowed, plus a one-time fee. This ensures that you know exactly how much you will have to eventually pay us back. With us, there is no need to worry about high interest rates that could raise your loan amount two to three times what you borrowed, which can happen with other lenders.
To apply for free, call (877) 735-0016
To apply for free, call (877) 735-0016
Can You Borrow Against Your Potential Settlement?
Pre-settlement funding is available to claimants facing financial challenges when their personal injury lawsuit or civil claims are ongoing. Thankfully, you can borrow against a potential settlement through pre-settlement funding or pre-settlement loans. Here are some key points to consider:
Legal Funding: This type of funding allows you to access funds before your lawsuit is resolved. You can use the cash advance to cover medical bills, living expenses, and other costs while you wait for your settlement.
Personal Injury Lawsuit: If you’re involved in a personal injury claim, you may qualify for pre-settlement funding to manage your financial needs during the legal process. We will examine your case strengths, prospects of winning, and expected compensation.
Traditional Loans vs. Pre-settlement Loans: Unlike traditional loans or personal loans, pre-settlement loans do not require a credit check or credit score. They are based on the potential settlement amount.
Settlement Money: Borrowing against your settlement money can provide immediate financial relief without affecting your credit.
Immediate Cash Advances: These pre-settlement loans offer cash advances based on the expected settlement amount. You can use the lawsuit cash advance to pay medical expenses, cover living costs, and manage financial hardship.
Legal Funding Companies: Legal funding companies specialize in providing funds to plaintiffs involved in lawsuits. They evaluate the potential settlement and offer loans accordingly. Ensure that you work with a pre-settlement funding company.
Non-recourse Loans: Many pre-settlement loans are non-recourse, meaning you only repay the loan if you win your case. If you lose your case, you don’t owe us anything.
Reasonable Settlement Loan: It’s important to make an informed decision when choosing a funding company to ensure you receive a fair settlement loan.
Additional Funding: If you need more funds, some pre-settlement funding companies offer additional funding options based on the progress of your case.
Understanding the Costs and Benefits of Borrowing Against Your Potential Settlement
However, there are often pros and cons of borrowing against your potential settlement before your case concludes. Here are some things to keep in mind:
Funding Fees: Be aware of any funding fees associated with pre-settlement loans. These fees can vary and may impact the total amount you need to repay upon winning your case.
Mortgage Payments: If you’re struggling to make mortgage payments, borrowing against your settlement can provide temporary relief.
Lawsuit Loan Companies: Lawsuit loan companies offer various loan options tailored to plaintiffs involved in personal injury lawsuits or other legal claims. Understand the terms and conditions before taking their offer.
Future Settlement: Consider the potential impact on your future settlement when borrowing against it. Ensure the terms are favorable and manageable.
Potential Settlements: Personal injury settlements can provide significant financial compensation, but accessing funds early through pre-settlement loans can help cover immediate expenses.
Personal Injury Plaintiffs: Personal injury plaintiffs often face financial challenges during their legal battles. Pre-settlement funding can offer much-needed support. It is available to claims in a wide selection
Personal Injury Case: If your case involves an auto accident, pedestrian accident, motorcycle accident, premises liability, product liability, or more, pre-settlement funding can help cover medical expenses and other costs while your case is ongoing.
Non-recourse Cash Advance: A non-recourse cash advance means you only repay the loan if you win your case, reducing financial stress and risk.
Utility Bills: Managing utility bills and other essential expenses can be easier with pre-settlement funding.
Financial Decision: Making a financial decision to take out lawsuit funding against your settlement requires careful consideration of the terms and potential impact on your overall financial stability.
Maintaining Financial Stability: Taking out lawsuit advances against your settlement can help maintain financial stability during the legal process.
Favorable Settlement: Aim for a favorable settlement by choosing a reputable funding company and understanding the terms of the loan.
How You Pay Us Back
As mentioned earlier, settlement loans are a form of non-recourse funding. Once you get a successful outcome and receive the pre-settlement cash advance, you only need to pay us back in full when your case settles, or you receive a jury award. Your personal injury attorney will receive a check from the other party, and then they will pay High Rise Financial directly out of those funds. Your lawyer subtracts their legal fees, and then you receive the remainder of the funds.
In the unlikely event that you lose your case, you don’t have to pay us a penny. That’s because legal funding is a type of non-recourse loan. We take the risk of loaning you the money, knowing we cannot go after you in court if you lose your case and can’t pay us back—and that’s okay!
We cannot force you to liquidate any assets to pay us back. We also cannot garnish your wages. Pre-settlement legal funding truly is risk-free.
Complete a Free Application form now
Apply for Pre-Settlement Legal Funding Today
If you’re having trouble making ends meet while you wait for your personal injury case to come to a resolution, you can borrow against that settlement. All you need to do is apply for pre-settlement legal funding with High Rise Financial. To get started, fill out the Apply Now form. You can also call us at (866) 407-6404 if you need help or have questions.
High Rise Financial will process your application as soon as we have all your information and we have consulted with your personal injury lawyer. The application process is quick and usually only takes a couple of days. Once we approve your application, we can usually have the funds in your account within 1-2 days. Once you receive the funds, you can use them as you wish. Our clients have used their legal funding to pay their medical bills, mortgage, and other monthly bills, to give you some ideas.
Legal funding can help you stop worrying about bills and instead lets you focus on working with your attorney to get the best settlement possible.
Call or text (877) 735-0016 or fill out our form to apply today for free.
Call or text (877) 735-0016 or fill out our form to apply today for free.