Suffering a personal injury or negligent accident in Maine can be difficult and overwhelming. Such an incident can result in minor or major injuries, leading to medical bills, lost wages, and other out-of-pocket expenses. Even though you can file a lawsuit or insurance claim to recover damages, getting compensation can take a long time. If you are struggling financially and need immediate funds to pay bills and cover living expenses, you may apply for a risk-free lawsuit loan in Maine.
At High Rise Financial, we provide affordable pre-settlement funding as financial support to accident victims and plaintiffs throughout Maine. Our lawsuit loans in Maine are non-recourse, and you don’t need to repay the pre-settlement funding if you don’t get a successful outcome. In addition, getting legal funding is fast and easy, and you can use the money to pay for your medical expenses, outstanding debts, food, car loans, groceries, utility, feeding, and other daily expenses.
Are Lawsuit Loans in Maine Legal?
Yes, lawsuit loans are legal in Maine, and they are validated by state courts. However, there are state laws that regulate these settlement loans to ensure transparency and to protect consumers. Also, the lawsuit funding company providing the cash advance must register with the state and adhere to specific guidelines, such as providing clear and coherent legal funding agreements.
In addition, the state of Maine does not impose an interest rate cap on lawsuit loans. It only mandates that lawsuit funding agreements should be written in such a way that consumers can easily understand. Also, personal injury attorneys in Maine are prohibited from lending money to their clients. This is to help ensure that legal funding remains a separate, regulated industry.
Who Can Get Legal Funding?
Legal funding, also known as lawsuit loans or settlement funding, is one of the financial options that are available to plaintiffs with ongoing personal injury or accident cases. These non-recourse cash advances can be a lifeline to help claimants achieve financial relief during such a difficult period. However, in order to get a lawsuit loan, you must meet the following requirements:
- You must be involved in an ongoing lawsuit with a strong likelihood of a favorable outcome.
- You must have an attorney representing you, and your lawyer must be willing to cooperate and consent to your pre-settlement loan application.
- You must be willing to provide comprehensive details about your ongoing case, including documentation that supports your claims.
- Your case must be eligible for pre-settlement funding. For instance, personal injury lawsuits, wrongful death, medical malpractice, slip and fall, car accidents, and other civil cases.
Furthermore, the lawsuit funding company will consider the merits of your case, your prospects of winning, and how long it may take your case to settle, among other factors, to approve your legal funding request. For this reason, the stronger your ongoing lawsuit, the higher the prospects of a lawsuit loan approval.
Steps to Apply for Lawsuit Loans in Maine
Applying for our lawsuit loan in Maine is an easy and straightforward process that is designed to provide quick financial relief to plaintiffs involved in legal cases. Here are the steps to follow:
Notify Our Team
Inform our trusted representatives that you have an ongoing case and you would like to get a settlement loan. You can get in touch with us through calls, text messages, or emails.
Gather Necessary Documentation
Collect all relevant documents related to your case, including medical records, accident reports, and any other evidence supporting your claim. This information will be crucial when applying.
Submit Your Application
Fill out the lawsuit loan application form. You can easily do this online through our website. Provide details about your case, your attorney’s contacts, and any other required information.
Authorize Contact with Your Attorney
Allow us to contact your attorney to verify the details of your case and examine its strengths. We will also evaluate your chances of a favorable outcome and your expected settlement.
Review and Approval
Our dependable financial specialists will review your case details and determine if you qualify for a cash advance. We will evaluate the potential settlement amount and decide on the lawsuit loan amount.
Receive Funds
Once approved, you can receive the funds within a short period, often within 24 hours. You can use the funds to cover living expenses, medical bills, food, car loans, and legal fees while your case is ongoing.
Are There Upfront Fees and Monthly Payments With Lawsuit Loans?
Before applying for a lawsuit loan, many clients often wonder whether there are associated fees like upfront costs or monthly payments. At High Rise Financial, there are no upfront fees with our lawsuit loans in Maine. The pre-settlement loans are structured to provide financial relief without adding immediate financial burdens to you. Instead of charging any fees upfront or monthly payments, we will only take our fees and the loan repayment from your settlement or award if you win the case.
Furthermore, the non-recourse nature of our legal funding means that if you don’t win your case, you don’t have to repay the settlement loan, including any fees. This structure helps you cover essential expenses like medical bills, rent, and living costs while your case is pending. You don’t have to worry about paying out-of-pocket costs from the beginning. Thus, making our Maine lawsuit loans a viable option for claimants who need financial support during the often lengthy and complicated legal process.
Contact Us for Non-Recourse Lawsuit Loans in Maine
Do you need risk-free settlement loans in Maine before your case settles? Contact us at High Rise Financial today for a simple consultation and to know more about the cases we fund. Our trusted financial specialists can determine your eligibility and walk you through the application process. Call our toll-free at (866) 407-6404 today to apply. We’re proud to serve clients throughout the state of Maine.