Pre-settlement funding (or lawsuit loans) is one option many personal injury plaintiffs consider when they are facing financial hardship or having trouble making ends meet during the settlement process. This type of funding involves getting a loan on your upcoming settlement. Meanwhile, pre-settlement loans shouldn’t be confused with traditional loans. Lawsuit funding is usually risk-free and non-recourse. You do not have to pay back if you lose your case. Nonetheless, you should only opt for the pre settlement funding that meets your needs, not just the lowest cost.
What’s more, depending on your case details and other surrounding circumstances, the lawsuit loan company will give you the immediate funds you need to meet your primary needs before your claims reach their conclusion. However, you may not be able to get a lawsuit loan without an attorney’s consent. Before they agree to allow you to get a pre-settlement loan on a lawsuit, your personal injury attorney will need to work with the funding company to determine if your claim is likely to be successful.
Pre-Settlement Funding Eligibility
Applying for pre-settlement funding is free. Hence, there is no risk in applying if you think you qualify. The following factors are considered to determine your eligibility:
- You must have a valid lawsuit.
- Your case or lawsuit must be eligible for pre-settlement funding in your state. Here is a list of the cases we fund.
- You must be represented by a reputable attorney.
Also, you must live in a state that is serviced by High Rise Financial. You can learn more about the states we serve here.
How Does Pre-Settlement Funding Work?
Pre-settlement funding always starts with an application. You need to tell a funding company what your case is and why you need funds. This is usually fairly straightforward. And many people are already pre-approved for the cash they’re looking for.
The funds that you receive will be based on the projected settlement that you’re likely to get. Minor fees may be involved. When you work with pre-settlement funding companies, you won’t have to worry about being stuck with the bill if your personal injury lawsuit is unsuccessful. If you win your case, the company receives its repayment from your compensation package. If you lose, you won’t need to pay back at all.
Getting the Best Pre Settlement Funding Rates
Getting the best lawsuit loans interest rates requires working with the right provider. However, there are several things to keep in mind when choosing a legal funding company. Here are some of them:
Experience: You should look for a pre-settlement funding company that has been operating for a long time. This means they have experience helping clients through the difficult times of filing lawsuits.
Specialization: Also, you should choose a company that specializes in personal injury litigation. This ensures you are dealing with an experienced team of professionals that understands how to handle these types of claims.
Fast and Reliable: You should deal with a company that provides fast approval and payouts.
Are Lawsuit Loans Worth It?
Whether or not a lawsuit loan is worth the cost will depend on each plaintiff’s unique circumstances. If you’re wondering whether or not it would be worth getting a lawsuit loan, note that having more time to settle your lawsuit could result in a larger settlement. Even after paying a lawsuit loan company’s fees, you’ll know that having the survival funds in the meantime was worth it.
How Will I Pay Back My Pre-Settlement Funding?
Paying back your pre-settlement funding may be far easier than you imagine. First, you’ll not be expected to pay back your pre-settlement funding until your attorney produces a financial recovery in your case. If your lawyer doesn’t recover compensation, you don’t have to worry about the company making collection attempts against you.
If your lawyer does win your case, your attorney will be responsible for paying back your lawsuit loan. They will use an agreed-upon percentage of the compensation you are awarded to cover the pre-settlement funds you were issued in advance.
That way, you don’t have to worry about covering additional bills once your case has been resolved. You will finally be able to put your legal experience behind you and move forward with your life.
What Factors Will Affect the Pre-Settlement Loan Interest Rate?
Your personal credit history will not affect your interest rate. Plus, your income or employment history won’t be verified. Our company offers pre settlement loan interest rates that are based solely on the possibility that you’ll win your case.
Interest Rates Matter — Why You Need to Know Your Pre Settlement Funding Rate
If you’re looking for lawsuit funding, you’ll notice that there is no shortage of companies available. You must search and select a trusted legal financing company that can offer reliable lawsuit financing rates.
You Deserve the Lowest Rate and the Best Terms
Beware of lawsuit companies that won’t tell you what their lawsuit loans interest rates will be for your specific case. Compound interest can make a huge difference when it comes to knowing the total costs that you will have to pay for funding. Over time, compound interest can add up.
Thankfully, High Rise Financial offers lawsuit funding at the most favorable terms. Also, there are no hidden fees and no unfair financing charges. Above all, our pre-settlement funding won’t leave you in a worse financial situation.
Get Help From Our Lawsuit Funding Specialists
Getting help from our lawsuit funding specialists at High Rise Financial can make your settlement funding application easier and hassle-free. When you reach out to our trusted team, we will:
- Enlighten you about your available legal funding options.
- Review your case and help determine if you qualify for settlement funding.
- Happily walk you through the application process.
- Help finish your application and ensure that you provide all important details.
- Update you on the status of your settlement loan application throughout the process.
Above all, our specialists will guide you through every phase of your lawsuit loan application and help you navigate crucial decisions.
Apply For Pre-Settlement Funding Today
Do you need an immediate cash advance to pay bills before your case settles? Contact us online today at High Rise Financial to apply for any of our legal funding. You can also get in touch with our dedicated representatives today at (866) 407-6404. We will explore your available options together, and guide you through your application from start to finish.