Pre-settlement funding, or legal funding, is a safe way to get cash to pay your bills while you wait for your personal injury case to resolve. Personal injury cases can take months if not years to resolve. This can put financial pressure on anyone, especially if you can’t work because of the severity of your injuries. And while it can be a financial solution, pre-settlement funding does need to be paid back when you win your case.
In This Article
How the Pre-Settlement Funding Process Works
As long as you are involved in a personal injury case or wrongful death action and are represented by an attorney, you are eligible to apply for pre-settlement funding.
Fill out the form on the Apply Now page to get started.
When you fill out the application, you’ll notice it is much different than applying for a personal loan. We base your legal funding on your predicted settlement, rather than your creditworthiness.
This means the only information you have to give us is your name and contact information, the state you live in, and your lawyer’s contact information. We then get all the information about the specifics of your case from your lawyer or legal team.
You DO NOT have to supply us with:
- Your debt information
- Proof of employment
- Tax information
How Much Pre-Settlement Funding You Will Get
We approve most applicants. The only reasons we would not approve you for legal funding is if we thought you were likely to lose your case, or if your state laws don’t allow litigation funding.
Once we approve you, our underwriters examine the details of your case to determine how much we can offer in pre-settlement funding. Some of the aspects we look at include:
- The severity of your injuries
- Permanent injuries, such as the loss of a limb or a spinal cord injury
- Pain and suffering
- Lost wages (current and future, if applicable)
- Property damage
- Medical bills, both now and in the future
- Whether you are seeking punitive damages
- How close your case is to settling or going to trial
Each case is different, but we can compare your injuries and losses to similar cases in your state and see what the settlements or jury awards were. Based on that information and our own industry calculations, we will come up with a figure we can offer you.
In general, the more severe your injuries, the higher you can expect your settlement to be. And with a higher projected settlement, we can offer a higher amount of legal funding.
Once our underwriters give us a figure, we will present you and your attorney with a written offer. If you agree to the terms and you both sign the document, we can usually get you your pre-settlement funding within 24-48 hours.
To apply for free, call (877) 735-0016
How Much You Owe When You Win Your Case
You will always know how much money you owe us. That’s because, at High Rise Financial, we don’t charge compound or variable interest on your pre-settlement funding amount. Other legal funding and lawsuit loan companies may charge compound interest that can leave you owing an exorbitant amount—especially if your case takes a long time to settle.
We do charge a one-time, flat-rate fee based on the amount of money we provide you. When you win your case, the total amount (pre-settlement funding and fee) will be due. Your lawyer will pay High Rise Financial directly from your settlement funds or jury award. They will then deduct their legal fees and any other required payments (such as back taxes or a medical lien), and the remainder of the money is yours.
If You Lose Your Case
Of course, if you lose your case you do not have to pay us back. Even if you still have some pre-settlement funding left in your bank account, that money is yours to keep. This is because legal funding from High Rise Financial is a non-recourse loan. This means we provide you with legal funding based on the collateral of your prospective settlement.
If you lose your case, there is no collateral to recover. And because of the non-recourse terms, we have no legal recourse. We cannot go to court to garnish your wages or force you to sell other assets so you can pay us back.
As you can see, pre-settlement funding really is a risk-free financial solution.
Get the Cash You Need and Fast
If you’re having trouble paying the bills while you wait for your personal injury or wrongful death suit to settle, pre-settlement funding can help. As long as you are actively involved in the case and have a lawyer representing you, you’re eligible to apply. Just fill out the form on the Apply Now page to get started.
Depending on the specifics of your case, if you’re approved, we can advance you anywhere from $500 to $250,000. Once you sign the financial agreement, we can generally transfer funds to your bank account within 24-48 hours.
If you have questions or need assistance, please call us at (866) 407-6404.