The good news: You do not have to be employed to get a cash advance on a pre-settlement loan with High Rise Financial.
If you’re exploring your options as far as a cash advance on a pre-settlement loan, you’re making a smart move. At High Rise Financial, we’re in the business of helping personal injury plaintiffs like you meet your financial obligations.
If you’ve been seriously injured in a car accident or other accident due to the negligence of another, money may be tight. You have medical bills piling up, and you’ve probably blown through the savings you had. You may be unable to work due to your injuries. Being unemployed disqualifies you for most loans—but not pre-settlement funding!
Fill out the form on the Apply Now page if you were hurt in an accident and need cash now.
In This Article
A Pre-Settlement Loan Is Not a Standard Loan
A pre-settlement loan is not a typical loan. There are several key differences that encompass the application and repayment processes and set them apart from your average loan from a credit lender. These differences make applying for pre-settlement legal funding a risk-free proposition for you.
Pre-settlement legal funding is not a typical lawsuit loan or personal loan. We base the amount of money you receive on your eventual settlement, not your creditworthiness. That means we don’t:
- Perform a credit check
- Ask for proof of employment
- Ask invasive financial questions
- Require references
Instead, when you apply, we’ll need some basic information, including:
- Your name and contact information
- Your lawyer’s name and contact information
- The state you live in
Once we receive your application form, we contact your lawyer for the specifics surrounding your claim. We can usually let you know if you’ve been approved in an hour or so.
To apply for free, call (877) 735-0016
Determining the Amount of Your Pre-Settlement Loan
If we think you have a strong case, you will most likely be approved. Once we have approved you for legal funding, our team of underwriters goes about determining the amount of your pre-settlement loan. They do this by thoroughly reviewing your case, using industry calculators, and comparing your case to similar cases in your state.
The specifics of your case that we review include:
- How your accident happened
- The severity of your injuries
- Your prognosis and whether you will fully recover
- Pain and suffering
- Medical costs, both current and future
- Lost income due to your injuries, both current and future
- Property damage
- Who you are suing
- If you can seek punitive damages
Depending on the exact circumstances of your case, you can receive anywhere from $500 to $250,000. Higher amounts are reserved for clients with the most severe injuries or those involved in wrongful death suits.
We’ll present you and your lawyer with a written offer. If you agree to the terms, you sign it, and we then transfer the funds to your bank account within 24-48 hours.
The Repayment Process
A lawsuit settlement cash advance, or pre settlement loan, also differs from a typical loan in how you pay us back. We put all of this in writing in your financial agreement, but here it is in a nutshell:
- We do not require monthly payments.
- We do not charge interest.
- You pay us back in one lump sum when you win your case.
Once you have accepted legal funding from High Rise Financial, it is yours to spend. You don’t have to worry about holding back a portion to make a monthly payment. And you will always know the final repayment amount because we don’t charge interest.
The amount you need to repay includes the total amount of your legal funding plus our one-time, flat-rate fee. That amount will be detailed in the financial agreement you and your lawyer sign.
How Repayment Works
When you receive a court award or win a settlement, the other side will pay the required amount to your lawyer’s firm. Your lawyer will then cut us a check for the amount we are owed. Then, your lawyer deducts their legal fees, and any other required payments, including:
- A medical lien
- Any back taxes you owe
- Back child support
- Possible alimony payments depending on your divorce agreement
Once all of the necessary payments are made, the rest of the money is yours. In most cases, if your settlement is for $150,000 or less, you will receive a lump sum. If your injuries are severe and you win a larger settlement, your lawyer may recommend a structured settlement.
In this situation, you get multiple payments over several years. Your lawyer would then ensure that the first payment was large enough to cover all required payments.
If You Lose Your Case
While most of our clients win their cases, it is possible that you could still lose your case. Juries can be fickle, and the other side can even withdraw a settlement offer. If this happens, you are protected — your pre-settlement loan/cash advance is yours to keep. That’s right, if you lose your case, you don’t have to pay us back.
This is because the collateral we based your legal funding on is your settlement. If there is no settlement, we can’t collect. This is why a pre-settlement loan in the form of legal funding is your safest way to get the cash you need now.
Apply for a Pre-Settlement Loan Today
A pre-settlement loan, or lawsuit cash advance, is one of the few ways you can borrow money if you are unemployed. It’s also risk-free. If you need cash now to pay the bills, High Rise Financial is ready to help. We work with personal injury plaintiffs from all across the country.
To get started, simply complete the form on the Apply Now page, and one of our trusted team members will be in touch shortly. If you have questions, you can call us at (866) 407-6404.