Personal injury claims can take a long time to settle or go to court. Many cases take months or even years to resolve. If your injuries are serious, you may have lost wages because you’re unable to work during your recovery period.
You may have also filed a wrongful death suit because a loved one died due to the negligence of another. And if the death of your loved one resulted in a loss of income, this may mean money is tight, and so you’re considering applying for pre-settlement funding.
To answer your question, no, there is no time limit by which you need to repay interest on pre-settlement funding. However, there is a twist.
Get started by filling out the form on the Apply Now page.
In This Article
We Don’t Charge Interest on Pre-Settlement Funding
This question really has two parts. One part asks about a time limit in which to repay, and one asks about repaying interest. As far as interest goes, unlike a typical lawsuit loan or personal loan, High Rise Financial does not charge interest.
Instead, we charge a one-time flat fee. When you are approved for legal funding, we draw up a financial agreement for you and your lawyer to sign. This agreement will spell out the terms, including how much money we can provide in pre-settlement funding, and what the flat-rate fee will be.
The fee is fixed and will not change, no matter how long it takes for your case to resolve. Compare that with the compound interest that other lenders charge. The longer it takes your case to resolve, the more money you end up paying.
With High Rise Financial, the amount you have to repay is the same today as it is three years from now.
To apply for free, call (877) 735-0016
If You Need More Legal Funding
Sometimes it takes longer for your case to reach a settlement than any of us expected. In this situation, you can apply for another round of pre-settlement funding. Again, based on the specifics of your case and your expected settlement, we will do all we can to provide you with the funds you need.
You do not have to pay back the first round of legal funding in order to qualify for a second round.
How You Pay Us Back
When our underwriters approve you for pre-settlement funding, they also tell us how much money we can provide you. We then draw up the financial agreement that specifies the amount, our one-time flat fee, and the terms of repayment.
In a nutshell, you pay us back the full amount (legal funding amount plus fee) when you win your case. When the other side settles, or you win an award in court, the other side will send your lawyer a check for the full amount, or a first payment if you have a structured settlement.
Your lawyer then writes a check to High Rise Financial to pay us back. Next, they deduct their legal fees and pay back any other money you owe. This might include a medical lien for any healthcare you received or to pay back taxes.
Once all of those payments are made, the rest of the money is yours. This will either be paid to you in one lump sum or in periodic payments as laid out in your contract.
If You Lose Your Case
If you lose your case, you don’t pay us back. That’s it. Much like your personal injury lawyer, whether we get paid is contingent on you winning your case. It’s a risk we take so you don’t have to. Pre-settlement funding with High Rise Financial is a risk-free solution to your financial stress during a personal injury claim.
Unlike a personal loan, we will not go after your other assets or garnish your wages if you lose your case and can’t pay us back. This is part of our agreement.
Complete a Free Application form now
Apply for Pre-Settlement Funding Today
Are you having trouble making ends meet while you wait for your personal injury case to resolve? Pre-settlement funding from High Rise Financial can help take care of your daily living expenses, allowing you to focus on working with your lawyer to develop the strongest case possible.
Applying is free and easy. Just fill out the form on the Apply Now page and we’ll be in touch with you and your lawyer ASAP. Depending on the specifics of your case, we can provide pre-settlement funding anywhere from $500 to $250,000. And once you’re approved, we can transfer funds to your bank account within 24-48 hours.
If you need assistance or have questions, please call our office at (866) 407-6404.