Pre-settlement funding isn’t the same as standard loans. Qualifying for funding and the amount you may receive is dependent on the strength of your personal injury case rather than your creditworthiness. You likely already know that the only way you can apply for legal funding is if you have filed a personal injury claim and you have a lawyer representing you.
Simply put, the chances of you being approved are higher if you have a strong case. But even if you have a strong claim, you can still be denied pre-settlement funding.
Fill out the form on our Apply Now page to seek pre-settlement funding.
Reasons Why You Might Be Denied Pre-Settlement Funding
While High Rise Financial approves legal funding for most who apply, there are a few reasons why you may be denied pre-settlement funding. These reasons include:
You Don’t Have an Attorney
You will automatically be denied pre-settlement funding if you do not have a lawyer representing you. This is true for all legal funding companies. This is because we get the necessary information about your case from your lawyer, including any supporting legal documents.
You can reapply once you have a personal injury lawyer representing you.
Your Case Is Weak
A pre-settlement funding company such as High Rise Financial may determine that you are unlikely to win your case. If so, they do not want to take on the risk that you would not be able to pay them back.
However, this is not the end of the world. If you and your lawyer are able to strengthen your case, you can always reapply for pre-settlement funding and be approved, based on the new information.
Your State Doesn’t Allow It
While High Rise Financial is based in California, we work with personal injury plaintiffs across the country. However, there are a few states that have laws that strongly regulate pre-settlement funding no matter how strong your case is. This is because they recognize a legal doctrine called champerty which, in a nutshell, prohibits an outside party from funding someone in their litigation against another party. This is also known as litigation funding.
According to a 2019 Law Review article written by Parabellum Capital, LLC, these states include:
Just this year, the Minnesota State Supreme Court abolished the champerty doctrine, as it was based on common law, like in the case of Maslowski v. Prospect Funding Partners LLC.
In New York, cases involving pre-settlement funding have settled differently. For instance, in one case the court dismissed a claim because a plaintiff had received legal funding. However, in another case, the court ruled that pre-settlement funding was not, in fact, an attempt to control the litigation.
It is always worth applying for pre-settlement funding if you need help making ends meet. This is because state laws regarding pre-settlement legal funding are always changing.
For a free legal consultation, call (877) 735-0016
Types of Cases We Approve for Pre-Settlement Funding
If you are involved in a personal injury claim, and you have a skilled lawyer or law firm representing you, your chances of approval for pre-settlement funding go up. This is because most reputable personal injury lawyers will not take on a case they don’t think they can win.
High Rise Financial uses the same method. We evaluate your case and the possibility that you will not win before approving you for pre-settlement funding. That said, we provide legal funding in the following types of personal injury cases, where claims are often the strongest:
- Traffic Accidents
- Pedestrian Accidents
- Slip and Falls
- Dog Bites/Attacks
- Wrongful Death
- Medical Malpractice
- Nursing Home Negligence
- Faulty or Defective Medical Devices
- Product Liability
- Workers’ Compensation
- Jones Act Maritime Cases
We work with personal injury plaintiffs and their legal counsel to help folks make ends meet financially while waiting for their case to resolve. By relieving your financial stress, we can help you focus on aiding your lawyer in negotiating the strongest settlement possible.
Apply for Pre-Settlement Funding Today
Applying for pre-settlement funding is a risk-free way to help tide you over until your personal injury case resolves. High Rise Financial does approve most applicants, so it is worth your while to fill out our simple application form. Go to our Apply Now page to get started.
In some cases, you will have our decision within an hour. If you and your lawyer agree to the terms, we can have the cash in your account within 24 hours. You can also call us at (866) 407-6404 if you have any questions or need assistance.