If you apply and are approved for pre-settlement funding from High Rise Financial, you may be wondering whether you need to disclose this information to the defendant’s insurance company or attorney. The answer is, it all depends on whether your case settles in or out of court.
In This Article
If You Negotiate Out of Court
If you and your lawyer are negotiating an out-of-court settlement, you are not required to inform the defendant’s insurance company or attorney if you receive pre-settlement funding. In fact, if they did find out, they might be more inclined to come up with a fair settlement offer sooner.
That’s because they know that if they continued to drag out negotiations, you would no longer be tempted to settle for a lowball offer. Legal funding gives you the funds you need to meet your financial obligations. This, in turn, gives your personal injury lawyer more time to negotiate a better settlement.
Since the vast majority of personal injury claims result in a settlement, the other side may never know you even received pre-settlement funding.
Interested? Complete the form on the Apply Now page to get started.
To apply for free, call (877) 735-0016
If You Go to Trial
If you go to trial, your lawyer may be required to inform the defendant’s insurance company or attorney that you received pre-settlement funding. It all depends on the state in which you are suing. Pre-settlement funding and insurance company disputes often run together, which can streamline the process for obtaining your funds.
State Laws Differ
Pre-settlement funding, (also known as legal funding or litigation funding) is regulated by some states but not all. If your personal injury lawsuit goes to trial, you and your lawyer may be required to inform the other side that you applied for and received pre-settlement funding.
Your lawyer will know the laws in your state. For instance, Utah, Wisconsin, and West Virginia, to name a few, have passed laws regulating the legal funding industry. These laws are designed to protect you from unscrupulous companies.
Utah’s H.B. 312 Maintenance Funding Practices Act, for example, requires companies like High Rise Financial to register with the state and be fully transparent in our pre-settlement funding agreements. This is, of course, no problem for us.
Wisconsin and West Virginia both require the disclosure of your pre-settlement funding agreement in certain court cases. This is up to your lawyer to disclose, not us.
But this is really nothing for you to worry about. The defendant’s legal team can’t use the fact that you were hurting financially against you. They could, however, try to get a judge or juror disqualified if that person were somehow connected to the legal funding industry.
In some cases, if it was revealed to the jury how badly you suffered financially from your injuries, it might actually increase their sympathy toward you as the victim.
Applying for Pre-Settlement Funding Is Fast and Easy
As an associate member of the Alliance for Responsible Consumer Legal Funding, we abide by a strong code of ethics designed to protect personal injury plaintiffs like you. We help clients from all across the country apply for and receive pre-settlement funding to help tide you over while you wait for your claim to settle or go to court.
The only requirement to apply is that you need to have filed a personal injury claim and have a lawyer representing you. If we think you have a strong case, we are likely to approve you for anywhere between $500 and $250,000. The amount you receive depends on the severity of your injuries and the specifics of your case.
The Application Process
Some things you should know about our application and approval process:
- Applying is free.
- There is no credit check.
- You get a decision on approval as fast as one hour.
- If approved, you can get your money in as little as 24-48 hours.
- The funds are yours to spend, no strings attached.
Applying for pre-settlement funding is different from a lawsuit loan. Learn more about pre-settlement loans here. This is because the amount you receive is based on your eventual settlement rather than your creditworthiness.
If we don’t approve you for legal funding, it is most likely for one of two reasons:
- You don’t have a lawyer representing you.
- We don’t think you have a strong enough case to receive a settlement large enough to pay back your funding.
You can always reapply in the future if you and your lawyer build a stronger case. And if you have a strong case but don’t have a lawyer, you can reapply after hiring one.
Having a lawyer protects your interests, both in negotiating a settlement and in pursuing pre-settlement legal funding as a financial stopgap while you wait for your case to resolve.
Your Financial Agreement Terms if You’re Approved
At High Rise Financial, we strive to make the terms of your agreement easy to understand. We spell out the specifics of repayment, the funding amount, and our fee in a written contract.
You are not obligated to accept our offer. But if you and your lawyer agree, some of the financial terms include:
- You pay NO interest.
- There are NO monthly payments.
- You pay us back the funding amount and our one-time fee when you win your case.
- You DON’T pay us back if you lose your case.
Pre-settlement funding, unlike a standard loan, poses no financial risk to you. If this sounds good to you, get started by completing the form on the APPLY NOW page. You can also call us at (866) 407-6404 for assistance.