Lawsuit Loans

Apply for a Lawsuit Loan While Your Case Is Pending

Lawsuit loan funding (also referred to as pre-settlement loans) helps folks with personal injury cases when they are having trouble paying their bills while they wait for their cases to settle. This type of funding involves getting a loan on your upcoming settlement.

Lawsuit Loans Should Not Be Confused with Traditional Loans

In exchange for agreeing to pay the lender back with interest out of your settlement, they will give you the funds you need to see your claim through to its conclusion. You cannot get a lawsuit loan without an attorney on your case. You will need to fill out an application with your lawyer’s help.

How Does a Lawsuit Loan Work?

When you get a lawsuit loan, the lender will agree to give you a portion of your anticipated settlement now in exchange for repayment of this sum plus interest at the time of your claim’s conclusion. If your claim fails to settle and you don’t get an award in court, depending on the company you use, you may still be responsible for paying back the cash and the interest.

You may have heard lawsuit loans described as settlement loans, settlement funding, lawsuit advances, or cash advances. No matter what it is called, what is important is the answer to one critical question: do you have to pay if you lose your case?

What Types of Lawsuit Loans Can You Access?

Lawsuit funding covers a wide area of cases. You can get car accident lawsuit loans – payouts you can receive fast based on the potential value of your future settlement to cover medical bills and other expenses.

Car crash loans are the most frequent, but you can access legal funding for:

• Workers’ compensation and negligence
• Slip-and-fall lawsuit loans for slip & fall accidents, 
• Premises negligence
• Police brutality lawsuits
• Commercial truck accidents 
• Employment and labor law violations
• Whistleblower and Qui Tam complaints
• Defective drugs
• Defective medical devices
• Wrongful arrests 

Depending on the complexity of your case, your attorney will help you choose the best loan terms and conditions for your needs.

Do You Have to Pay a Lawsuit Loan Back if You Lose?

When you get a traditional lawsuit loan, you will be on the hook for the cost of your loan plus interest. If your case does not settle, you will still be responsible for repaying the funds. This is a risk many plaintiffs are unwilling to take and with good reason. However, some lawsuit loan lenders do not require plaintiffs to repay their loans if they lose their case.

Once your representative has reviewed your case, they will determine whether your claim will likely settle. If it is, lenders may be willing to take a risk by giving you cash on your settlement.

How Long Lawsuit Loans Take

The lawsuit loan process may be faster than you think. Once you contact a representative from High Rise Financial, you can begin the application process immediately.

Most applications will be approved or denied within 24 to 48 hours. If your application is successful, you could receive cash for your lawsuit loan in as little as 24 hours.

Lawsuit Loans: How to Get the Best Deal

If you have ever had trouble getting a loan from a bank or credit union, you may know what applying for a lawsuit loan is like. These loans are made available by companies that specialize in lending money to people who have filed lawsuits against another party. They offer a quicker turnaround time and lower interest rates than most banks.

There are several things to remember when choosing a lawsuit loan company. First, you should look for one that has been around for a long time. This means they have experience helping clients through the difficult times of filing lawsuits.

Second, you should choose a company that specializes in personal injury litigation. This ensures that you are dealing with an experienced team of professionals who understand how to handle these claims. Finally, it would be best to only deal with a company that provides fast approval and low-interest rates.

Terms and Conditions

When you apply for a lawsuit advance with High Rise Financial, you will receive a letter explaining all of the terms and conditions of the agreement. You may also receive a phone call from a representative who will explain everything in detail. Once you agree to the loan terms, you must sign paperwork acknowledging that you have read and understood the terms.

How Does A Lawsuit Loan Work?

A lawsuit loan is a type of financing where a lender agrees to pay money to settle a claim against them before they go to court. This means that if you win the case, you do not have to repay the loan. If you lose the case, you still owe the money back. This should not be considered a typical loan agreement.

Lawsuit settlement loans are usually offered at much higher interest rates than other forms of financing. You should first consult with an attorney before using a lawsuit loan. Talking to someone who knows about this kind of financial transaction is essential.

How Much Can I Take Out?

The amount of money we send to your bank account depends on your claim’s value and the litigation cost. Most lawsuits involve multiple parties and usually require expert testimony to prove liability. In many cases, the plaintiff must hire a lawyer to represent their interests. Insurance company records will often be reviewed.

The lawsuit loan company will provide you with a detailed estimate of the costs associated with your case. The total amount of money you will get after paying off the loan will depend on the claim size and the number of defendants involved.

You can use your borrowed money to cover living expenses until your case settles. Many people use this money to pay medical bills, rent, mortgage payments, car insurance, and other necessities. Once the case has been settled, you will receive a check from the defendant, representing the entire payment for your claim – you will not have to pay anything else.

How to Borrow Money from a Settlement

To borrow money from your pending settlement, you must contact a reputable legal funding company representative. At the best lawsuit loan companies, you will work with a single, dedicated representative, so you will not need to worry about being shuffled from department to department when you have questions.

Your representative will communicate directly with your personal injury lawyer to gather information about your claim, letting them know whether you are a good fit for advanced lawsuit funding. In many cases, you can get funding within 24 to 48 hours.

You Do Not Need a Credit Check for Lawsuit Loans

Because traditional lawsuit loan companies require you to repay the funds you borrow from them regardless of the outcome of your case, they may require you to provide tax returns, paycheck stubs, and other financial documents to demonstrate that you can repay the loan on your own.

Some lawsuit loan companies do not need to check your credit score or see any financial documents to get you approved. If some lenders determine that your case will likely settle, the rest of your private financial information can remain confidential.

We only require you to have an attorney working on your case to process your application. Your credit score is irrelevant since our loans are non-recourse and can only be repaid using the settlement funds you won. Your repayment is not based on your source of income or creditworthiness, so we do not need to run your credit score as part of our application process.

How to Choose the Right Lawsuit Loan Company

Before applying for legal funding for personal injury lawsuits, you must ensure you work with a reputable lender before signing any agreements. The right lawsuit loan companies will offer complete transparency throughout the process and the personalized service you deserve when making a serious financial decision that can impact your future.

High Rise Financial offers complete transparency throughout the legal funding process. We are happy to answer your questions about lawsuit loan interest rates and any other aspect of the process. If you need a personal injury lawsuit loan to make ends meet while you wait for a fair settlement, ask your attorney if this funding is proper for you.

What You Can Spend Your Lawsuit Loan Money On

One of the great things about lawsuit loans is the ability to spend your money as needed. No one is monitoring how you spend your lawsuit loan funds, and you will not be expected to keep receipts or report back to our loan specialists regarding how you spent your lawsuit money. This money is yours, just like with your civil litigation or insurance settlement.

It should not be limited by someone else’s definition of what you should spend money on. Most borrowers will spend their funds on household necessities such as: 

• Toiletries
• Groceries
• Utility bills
• Phone bills
• Internet expenses
• Your child’s extracurricular activities
• Outstanding medical and credit card debt
• Gas and electric bills
• Auto, life, renters, home, and health insurance premiums
• Entertainment expenses
• Rent or mortgage payments
• Vehicle repair expenses and rental car costs
• Ongoing medical expenses, including mental health counseling

Ultimately, deciding how your money is spent is up to you.

Lawsuit Loans Are Regulated

There are limited local and federal laws in place that regulate lawsuit loans. However, many laws at the state and federal levels could impact the amount of compensation you can be awarded in your civil or insurance claim. Two of the most important laws you should be aware of include the following:

Contributory Negligence

Contributory negligence refers to a plate of sharing liability for their suffering. If someone shares fault for the injuries and lives in a pure contributory negligence state, they will be barred from recovering compensation through the course system.

However, suppose you live in a state that follows a pure comparative negligence or modified comparative negligence system instead of being barred from recovering compensation. In that case, your injury settlement will be reduced in proportion to your percentage of fault. Your attorney can inform you whether your state’s shared fault laws will impact the outcome of your settlement. If so, High Rise Financial will analyze the facts of your case to determine how much we can authorize for your lawsuit loan.

Statute of Limitations

There is a limited amount of time to pursue civil claims. This is known as the statute of limitations. If the statute of limitations runs out before you file your lawsuit, you will no longer be able to have your case heard by a judge at trial.

Many claimants make the mistake of waiting to take action on their case until the statute of limitations prevents them from otherwise getting justice. If you hope to avoid such a disaster, make sure to get started on your case as soon as possible.

How to Protect Yourself from the Insurance Company

The insurance company may attempt to take advantage of you during your greatest time of need. Insurance companies prioritize their profits and will try to blame you for causing your injuries, manipulate your statement, or they could even attempt to make you a lowball settlement offer.

If you are unaware of how much your case is worth, you could be attracted to settling for less than you might have otherwise deserved. Suppose you hope to avoid being taken advantage of by unscrupulous insurance adjusters. In that case, having an experienced legal advocate is vital to assist you throughout the claims process.

What to Expect if Your Lawsuit Settlement Falls Through

The best thing about non-recourse lawsuit loans is that they are low-risk. Even if your settlement falls through and your lawyer cannot recover compensation in your case, you will not be expected to repay your lawsuit loan.

You will also not need to worry that High Rise Financial will attempt to collect this “debt.” We do not see it as a debt, so you never have to worry about your credit report or score being impacted negatively by an unsuccessful insurance or civil claim.

Contact High Rise Financial for Help Today

High Rise Financial is here to help you access the legal funding you need to avoid financial ruin. Our lawsuit loans are non-recourse, so the risk to you is nearly nonexistent.

Explore your options further and find out how much you could be authorized for when you fill out our online application or contact our office to discuss the details of your case.