Florida Legal Funding
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Stay afloat with cash through pre-settlement legal funding.
Dealing with the financial effects after a personal injury accident is often overwhelming. Added to the stress of medical bills and lost time at work, you may also face a long legal battle to recover compensation from the party who caused your injuries.
Pre-settlement funding, commonly known as a lawsuit loan, helps victims and their families who are awaiting fair compensation. And High Rise Financial offers legal funds in Florida to lawsuit plaintiffs while they wait to earn their settlement or court award.
This money can help meet your basic needs during litigation, including food, housing, shelter, and healthcare. In addition, it has all the benefits of a loan without risking your personal finances. You don’t have to worry about repaying it unless you win your case.
Requirements for Legal Funding in Florida
The qualifications for applying for legal funding can vary depending on where you are in the United States. For example, there are limits on how much you can receive in some states, while other states do not allow legal funding.
In Florida, however, there are no laws in place that ban or even strictly regulate these financing instruments. Since Florida allows pre-settlement funding, it’s easy to qualify and apply for lawsuit funding. To be eligible for lawsuit loan funding in Florida, you only need to meet the following requirements:
- Your injuries must be due to an accident caused by someone else.
- You must have an injury claim filed in civil court.
- You must be living in Florida or have a pending personal injury case in Florida.
- Your lawyer must approve of your legal funding. If your lawyer doesn’t want to use third-party legal funding for your case, we, unfortunately, won’t be able to help you.
What Types of Accidents Are Covered by Legal Funding in Florida?
The types of accidents covered by pre-settlement legal funding vary from state to state. Other than Florida, there are many states that allow legal funding. The following are types of cases that qualify for legal financing through our office here in Florida:
- Car accidents – car accident loans
- Personal injury
- Jones Act
- Defective medical devices
- Medical malpractice
- Wrongful death
Car accidents are the most common cases, both because of the relative strength of the evidence and the sheer number of accidents each year. For example, according to crash reports from the Florida Department of Highway Safety and Motor Vehicles (FLHSMV), there were about 401,867 total crashes statewide and 236,753 injuries in 2019.
If your specific case isn’t listed, you may still be able to receive pre-settlement legal funding from us. We cover nearly every type of personal injury case.
Fault Laws in Florida
Florida is a “no-fault” state. Under the system, victims injured in a car accident may turn to their own insurer to make injury claims regardless of who caused the accident.
However, this no-fault system does not bar you from filing a personal injury lawsuit as well, also learn more: legal funding for class action lawsuit. For example, if your damages totaled more than what you recover through your personal injury protection (PIP) insurance, you can sue the at-fault party for additional compensation.
Also, Florida uses the “pure comparative fault” principle. The rule allows you to recover damages, even if you were partially at fault for your injuries. It is worth noting, though, that your total compensation will be reduced by the same percentage as your degree of liability.
How to Apply for Lawsuit Funding
Applying for a pre-settlement loan in Florida is quick and easy. The application form on our website is easy to fill out, and we’ll be in contact with you after you submit it. You will need to provide us with the following pieces of information:
- Your name
- Phone number
- Case type
- Contact information for your lawyer
Once you fill out and submit your application form for pre-settlement loans, our trusted pre-settlement loan experts will handle the rest. Our team will work with your lawyer to determine your chances of winning the lawsuit and how much compensation you’re likely to get.
Is There Interest on Florida Lawsuit Loans?
No, we do not charge any kind of interest on your legal funding in Florida. Instead, we charge a one-time flat rate fee for our funding services. Regardless of how long your case takes to settle, the fee’s amount will not change. You will know how much the fee is when you receive the lawsuit loan agreement.
In contrast, traditional lawsuit loans often charge compound interest on funding which can end up being expensive. The longer your case goes on, the greater the amount of interest adds to your total amount you are required to pay. This can be unfair because, it is often the defendant who tries to drag out the case longer, which can be costly with traditional lawsuit loans.
Can I Apply for Legal Funding More Than Once?
Yes, you can apply for pre-settlement funding more than once in Florida. If you have run out of the money you received from your initial legal funding, you may be eligible for more money.The maximum amount of legal funding you can get is 20% of your estimated compensation.If you have not taken the full 20% yet, you may be able to get more funding.
Our specialists will review your case to determine if you’re approved or not. There are a few factors that will impact the amount of additional funding you can receive. Factors that influence the amount of funding you may receive include:
- Percent of legal funding you have already received
- Total estimated loss of wages
- Severity of your injuries
- Likelihood of full recovery
- Punitive damages and state limits on them
Our specialists have your case on file, so there’s no need to apply again if you need more funding. Whether you’re running out of money because of expensive medical bills or your settlement has increased but your case will take longer, we are flexible when providing more funding.
How Long Will It Take to Receive My Pre-Settlement Funding?
If you are approved for pre-settlement funding, you can expect to see your funds in your bank account or receive a check within 24 to 48 hours. In order to receive your legal funding you and your lawyer must complete the paperwork for the lawsuit loan agreement.
The paperwork states the amount of legal funding you’ll receive, the one-time flat rate fee, and the loan’s repayment terms. There a couple ways you and your lawyer can sign the paperwork. You can use electronic signatures or print out hard copies, sign them, and send the paperwork back to us.
Why Should You Use Legal Funding?
A settlement can take months or even years to resolve. The defendant often takes advantage of this, drawing out your case, especially if they expect to be found liable. You could face mounting financial pressure to accept less money than you deserve during this time.
The good news is you can beat these stall tactics with pre-settlement funding in Florida. Pre-settlement funding is a cash advance on the potential value of your settlement. You could get the money from your settlement upfront to cover bills and other expenses, giving you the financial strength to fight for your maximum award.
Unlike a traditional loan, the IRS classifies legal funding as non-recourse debt, which carries no repayment obligation. Any repayment will come from your settlement, not your personal finances. That means you’ll only pay it back if you win your case, and if you lose, you owe nothing.
You Can Get Pre-Settlement Funding Even With Bad Credit
Low income, insufficient financial history, and poor credit scores — any of these factors could prevent you from borrowing money through traditional sources like a bank loan or a traditional lawsuit loan. That’s because a spotty personal financial statement is an indication that you may have trouble repaying the loan in the future.
However, legal funding is not a loan, and you do not repay the financing company directly. Instead, they recover their funds through your attorney, who will take the money from your settlement or court-ordered award.
You are never personally liable for the funds you receive, so the strength of your credit is not a factor. We will not ask you for bank statements or proof of income, which keeps the approval process fast and straightforward. Plus, we don’t perform hard inquiries with the credit bureaus or take any action that could impact your credit score.
Choose High Rise Financial for Your Pre-Settlement Loans
If you or someone you know is trying to apply for legal funding in Florida, contact High Rise Financial to schedule a one-on-one consultation. Our legal funding specialists will be available to discuss your unique situation and explore your alternative options for a lawsuit loan.
We will send you cash as soon as your application for a pre-settlement loan is approved. Learn more about Florida legal funding and find out today if you qualify.