Florida Legal Funding
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Stay afloat with cash through pre-settlement legal funding.
Dealing with the financial effects of 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.
Legal funding, commonly known as a lawsuit loan, helps victims and their families await fair compensation. High Rise Financial offers pre-settlement funds to lawsuit plaintiffs while they wait to earn their settlement or court award. Contact our loan specialists to apply for your legal funding in Florida today. We can help you discover the benefits of legal funding so you are not stuck paying for representation out of your own pocket after suffering an injury.
In This Article
- What Is Florida Legal Funding?
- Common Lawsuits that May Be Eligible for Pre-Settlement Funding
- Requirements for Legal Funding in Florida
- Fault Laws in Florida
- Statute of Limitations for Florida Civil Lawsuits
- How to Apply for Lawsuit Funding
- Is There Interest on a Florida Lawsuit Loan?
- Can I Apply for Legal Funding More than Once?
- How Long Will It Take to Receive My Pre-Settlement Funding?
- Why Should You Use Legal Funding?
- You Can Get Pre-Settlement Funding Even with Bad Credit
- How Can You Spend Your Florida Legal Funds?
- How Much Could You Get Approved for in Legal Funding?
- What do I Do if My Lawyer Loses My Lawsuit?
- Choose High Rise Financial for Your Pre-Settlement Loans
What Is Florida Legal Funding?
When you have suffered an injury or illness due to someone else’s negligence or are otherwise involved in a pending civil case, you may have the right to compensation for the liable party’s conduct. Cases of this nature can take months or even years to resolve. Once the case has been resolved, it could be even longer before you can access the compensation you were awarded.
During this time, you may be temporarily out of work, unable to earn a living, and dealing with substantial financial troubles due to what you have been through. Legal funding in Florida allows these parties to escape financial instability and start rebuilding their lives. You can consider pre-settlement funds the same way you would have cash advance – without the hassle and compound interests that comes with traditional cash advances.
High Rise Financial can provide you with a portion of your insurance or civil settlement before your funds come in, allowing you to cover your costs once more. Then, when your attorney wins your case, your lawyer will pay back your lawsuit loan using your incoming settlement funds. Call an experienced Florida personal injury attorney today to discuss how you can recover compensation for your injuries with the help of legal funding.
Common Lawsuits that May Be Eligible for Pre-Settlement Funding
Virtually any type of civil litigation may be eligible for pre-settlement funding. With that in mind, there are some types of lawsuits that High Rise Financial funds more frequently than others. Some of these types of cases include:
- Motor vehicle accidents
- Premises liabilities
- Labor law violations
- Employment discrimination
- Medical malpractice
- Injuries caused by defective products
- On-the-job injuries
- Jones Act cases
- Personal injury claims
- Wrongful death lawsuits
If you are dealing with another legal matter not described above, you may still qualify for legal funding in Florida. Find out how much you could be approved for when you contact our team to discuss your expected payout.
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 others 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 your legal funding. If your lawyer doesn’t want to use third-party legal funding for your case, we won’t be able to help you. Make sure you have all of the information needed to ensure a smooth and successful application process, or else you could be denied legal funding.
Fault Laws in Florida
Florida is a “no-fault” state. Under the system, victims injured in a car accident may turn to their 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, so long as certain dollar or injury severity thresholds are met. For example, if your damages total more than what you recover through your 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 that the same percentage will reduce your total compensation as your degree of liability.
Statute of Limitations for Florida Civil Lawsuits
To recover the funds you need, you must take action on your civil claim before the statute of limitations passes. Florida law allows injury victims a maximum of four years to get their injury lawsuits and civil claims filed.
If you pursue legal funding in a wrongful death case, your time may be further limited. Florida’s wrongful death statute of limitations only allows for two years to pass before time runs out.
If this deadline expires and your claim has not been received in the civil court system, you will no longer have the right to hear your case. Fortunately, as soon as you reach out to an attorney for help, they can begin working on your case, making sure to adhere to these strict deadlines.
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 will contact 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 a Florida Lawsuit Loan?
No, we do not charge any interest on your legal funding in Florida. Instead, we charge a one-time 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 be expensive. The longer your case goes on, the greater the amount of interest adds to the total amount you are required to pay. This can be unfair because the defendant often 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 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 whether you’re approved. There are a few factors that will impact the amount of additional funding you can receive, including:
- The percentage of legal funding you have already received
- The total estimated loss of wages
- The severity of your injuries
- The likelihood of your 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 are running out of money because of expensive medical bills or your settlement has increased, your case will take longer; we are flexible when providing more funding. Do you have questions about legal funding in Florida? Call High Rise Financial to speak with an experienced member of our team today.
How Long Will It Take to Receive My Pre-Settlement Funding?
If 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. To receive your legal funding, you and your lawyer must complete the paperwork for the lawsuit loan agreement.
The paperwork states the legal funding you’ll receive, the one-time, flat rate fee, and the loan’s repayment terms. There are a couple of 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 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 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 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 indicates that you may have trouble repaying the loan in the future.
However, legal funding is not a loan; 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.
How Can You Spend Your Florida Legal Funds?
If you are concerned that your pre-settlement loan will be restricted, you can breathe more easily. When you are awarded compensation in a civil lawsuit or insurance settlement, no one monitors how you spend it or restricts what you can purchase.
The same is true for your High Rise Financial legal funding. The money we provide you is already yours. We are just allowing you to access it in advance.
People spend their pre-settlement funds on a variety of expenses, but some of the more common include:
- Daily living expenses, including gas, groceries, toiletries, food items, and more
- Extracurricular activity costs
- Credit card debt
- Outstanding utility, phone, and Internet payments
- Vehicle payments and insurance coverage premiums
- Entertainment expenses
- Mortgage or rent costs
- Renter’s or homeowner’s insurance coverage
- Birthday or holiday gifts
- Business expenses
These are only a few ways to spend your legal funding in Florida. Ultimately, the decision is yours. However, remember that your lawsuit loan will need to be paid back when your attorney wins your case, so your settlement will be reduced by the amount of your approved pre-settlement funding. Have questions about legal funding? Let High Rise Financial clear the air about the lending process. Call us today in Florida for more information.
How Much Could You Get Approved for in Legal Funding?
Suppose you are interested in finding out how much our loan specialists could authorize in Florida legal funding. In that case, it is important to consider how much you will be awarded in your insurance claim or civil settlement. Your attorney will likely have gone over how your experience impacted your life. You have the right to be compensated for every loss.
Some of the different types of economic damages and non-economic damages you could be awarded include:
- The funds you lost due to your inability to work.
- Your inability to work will impact your ability to earn a living in the future.
- Your psychological trauma and emotional distress
- The loss of love, support, advice, guidance, protection, love, and society due to the development of depression, anxiety, or emotional trauma
- Vehicle replacement or repair costs and other property damage replacement fees
- The embarrassment associated with extensive skin scarring and disfiguring injuries
- Your physical chronic pain and suffering
Additionally, depending on the details of your case, punitive damages may also be awarded in your civil lawsuit. However, punitive damages are not a loss you should count on recovering.
You do not have the right to recover punitive damages at all. The courts only award punitive damages when they want to punish the liable party for conduct that has been found egregious or grossly negligent.
What do I Do if My Lawyer Loses My Lawsuit?
If your lawyer does not win your civil claim, you can breathe a sigh of relief knowing High Rise Financial will never attempt to hold you accountable for your Florida cash advance.
If your lawyer wins your case, you are only expected to pay back your lawsuit loan. Your lawsuit legal funding is contingent upon being able to pay it back with your settlement funds and your settlement funds alone. If those do not come in, you are not expected to pay back even one cent of your legal funding.
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.
We offer services in the following Florida cities and more: