When you’ve been injured because of someone else’s actions, you deserve repayment for your losses. Although a personal injury lawsuit can eventually provide compensation through a settlement or jury award, this is an often lengthy ordeal. In addition, while you wait for a resolution, your financial reserves are likely dwindling.
To stay afloat during this process, you can get a portion of your settlement now and repay it when you win your case. Known as a lawsuit loan or pre-settlement funding, High Rise Financial can advance up to 20% of the settlement you expect to receive at the conclusion of your lawsuit.
In This Article
Pre-Settlement Funding Payment Limits
The amount of money you can get with legal funding varies based on the laws in your state and the limits established by the financing company you are working with. They will only be able to offer you a specific percentage, typically between 10 and 20%, of your case’s value.
The funding company will assign a value to your case after considering the following factors:
- How likely you are to win compensation based on the strength of the evidence
- The total sum of your economic loss, which includes doctor bills, medication costs, and lost income
- The estimated monetary value of non-economic damages like emotional trauma, pain, and suffering
- Projected punitive damages
- The defendant’s ability to pay
Financing companies may also have a maximum limit on the amount they’re willing to extend. That means that if your case has an unusually high value, the legal funding offered to you may be less than 10% of your expected settlement.
To apply for free, call (877) 735-0016
Why Can’t You Get Your Entire Settlement With Legal Financing?
The settlement you plan to receive at the end of your lawsuit is rightfully yours, so it makes sense that you would want to control as much of it as you can. However, even if you could find a company willing to extend more than 20% of your case’s value, it is not advisable to get such high levels of legal funding.
Until your case officially concludes, you and the defendant have not agreed to any specific compensation amount. Therefore, your case’s value at this stage is only an estimate. It is far from guaranteed since negotiations can bring your final settlement number higher or lower than you expect.
Pre-settlement funding limited to 20% ensures room for fluctuation in this final number. It also reassures the funding company that they will recover everything owed to them after other fees and legal expenses are deducted from the settlement.
This limit makes Los-Angeles affordable legal funding, or wherever you may live, more widely accessible.
Other Legal Costs That Must Be Paid From Your Settlement
When the defendant in your case eventually pays what they owe for causing your injuries, the money is not sent directly to you. Instead, it is funneled to you through your lawyer, who is responsible for dispersing the funds.
You will only receive your settlement money after other high-priority obligations are met. This is another reason you are limited to 20% of your case’s value; there must also be money available for these other expenses. Your attorney will use the funds to pay:
- Court costs related to your case
- Medical liens placed on the settlement by the doctors or hospitals that treated you
- Attorney fees
- Pre-settlement funding you received, including the original amount extended to you plus any applicable fees or interest
You Can Get More Legal Funding If Your Circumstances Change
Pre-settlement funding may be limited by your case’s value, but this amount often changes over time. For example, your expected compensation, and therefore the value of your case, could increase if:
- New facts emerge to strengthen your case, such as additional evidence of the defendant’s negligence
- Your out-of-pocket costs for treatment or rehabilitation are higher than expected
- Your injuries turn out to be more severe than you initially thought
- The defendant makes an offer higher than your projected settlement
Therefore, even if you already received the entire 20% allowed, you may be able to access more money as your circumstances change. This means there is no limit to the number of times you can apply for pre-settlement funding, and you can access as much as your case will support.
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High Rise Financial Is Your Pre-Settlement Funding Solution
Many lawsuit financing companies can offer a standard range of 10 to 20% of your case’s value. What sets High Rise Financial apart is our commitment to transparency and trustworthiness in every transaction we complete.
You’ll experience the difference for yourself when you contact our team today. We’ll start by evaluating your case at no cost to you and we can let you know within hours whether you qualify.