Illinois, located in the Midwestern region of the United States, has a rich history, and it boasts a diverse population and a strong industrial and agricultural economy. In such a vibrant state, it is not uncommon for accidents, personal injury, and other mishaps to occur. When these unfortunate events happen, plaintiffs awaiting the resolution of their legal cases might face financial hardship. Thankfully, lawsuit loans in Illinois can provide immediate funds to cover medical bills, food, and other living expenses.
At High Rise Financial, we specialize in providing risk-free and non-recourse settlement funding to accident victims and claimants across the state of Illinois. Our Illinois legal funding can be a lifeline by providing you with the necessary financial support during such a difficult period. In addition, our lawsuit loans in Illinois are non-recourse, and you don’t need to repay anything if you don’t win your case. With a hassle-free application and approval process, you can get the money you need in as little as no time.
Are Lawsuit Loans Legal In Illinois?
Yes, lawsuit loans are legal in Illinois. These loans, also known as pre-settlement funding, provide plaintiffs with financial support while they await for their ongoing case to settle. Claimants who are approved for settlement funding can typically receive their cash advance within 24 hours of approval. The funding is non-recourse, and you only have to repay the settlement loan upon winning your case.
However, there are some restrictions with lawsuit loans in Illinois. Illinois regulates lawsuit funding as loans and are subject to the Illinois Uniform Consumer Credit Code (UCCC). Also, the state imposes a rate cap of 36% APR and a funding cap of $40,000. Regardless, lawsuit funding can be a valuable resource for plaintiffs who might be facing financial instability while their case is pending.
Benefits of Lawsuit Loans
Furthermore, lawsuit loans can be really beneficial for claimants awaiting the resolution of their legal cases but going through financial distress. Some of the benefits of getting a lawsuit loan include:
Immediate financial relief: They provide quick access to funds for living expenses, medical bills, and legal fees while your case is pending.
No risk if you lose: Since these loans are non-recourse, you only repay if you win your case. This minimizes financial risk during an already stressful time.
Focus on recovery: For plaintiffs who are struggling financially, lawsuit loans in Illinois can help alleviate your financial burden. With this, you can focus on your recovery and the legal battle ahead rather than scrambling for funds.
Equal footing: They level the playing field against defendants who are well-funded or have significant financial resources. This helps ensure that you also have the resources to pursue fair compensation.
Preserve credit rating: Unlike traditional loans, lawsuit loans don’t impact your credit score. In fact, there are no credit checks when you apply. They help preserve your financial health and ensure you do not accumulate more debts.
Peace of mind: Knowing you have finances are sorted during such a difficult period can provide peace of mind. This will allow you to make better decisions about your case.
More time for attorney: Getting a lawsuit loan will give your attorney or legal team more resources to gather evidence and work on your case. Also, they will have more time to negotiate with the insurance provider and recover your deserved financial compensation.
What Types of Cases are Eligible for Legal Funding in Illinois?
High Rise Financial is committed to offering financial assistance to plaintiffs and personal injury victims across Illinois and other states throughout the country. Some of the cases and legal issues that we fund include:
- Personal injury claims
- Hernia mesh lawsuit
- Spinal cord injury claims
- Car accident lawsuits
- Wrongful death claims
- Bicycle accident lawsuits
- Police brutality lawsuits
- Medical malpractice lawsuits
- Slip and fall lawsuits
- Pedestrian accident lawsuits
- Wrongful arrest lawsuits
- Hip implant lawsuit
- Workplace injury claims
- Dog bite claims
However, this is not a well-detailed list of all the cases that we fund. If your case isn’t mentioned above, you can give us a call. Our trusted team will examine your situation and advise you about your available lawsuit funding options. We are here to help you achieve financial relief during such a difficult period.
How to Apply for a Lawsuit Loan in Illinois
Applying for our Illinois lawsuit loan is simple, straightforward, and fast. There are no unnecessary credit checks or job history reviews. First, you should start by notifying our dedicated experts that you have an ongoing case and you need legal funding. Next, you should visit our website to complete your forms, provide your personal information, and submit your application.
In addition, we usually require that you provide important details about your ongoing lawsuit. We want to know more about your case to enable us to ascertain how much cash advance we can offer you. However, if you don’t have much information, then that’s no problem. You can simply provide your lawyer’s contact information, and our team will reach out to them.
Furthermore, our professional team will meet with your lawyer to evaluate your case details, discuss the merits of your lawsuit, and determine how much you may get. Our reliable financial specialists will evaluate your settlement loan application and make a decision. If you are approved for our Illinois lawsuit loan, you will receive your cash advance within the next 24 to 48 hours.
Get Risk-Free Lawsuit Loans in Illinois Today!
If you are facing financial distress while your lawsuit is ongoing, applying for non-recourse settlement funding may be right for you. The lawsuit loans can provide you with much-needed cash advances to cover bills, outstanding debts, utility, and day-to-day living costs. Contact us at High Rise Financial today to learn more about our lawsuit loans in Illinois and the cases we fund. We are always happy to help.