When you are involved in complex legal matters and expect to be awarded a sizable settlement, it can be frustrating to have to wait for your case to be resolved. More than frustrations, you may also find yourself dealing with severe financial issues due to your inability to earn a living. Fortunately, with High Rise Financial loan specialists backing you up, you can get the financial support you need at a time when you need it most.
We have the potential to fund a wide array of cases, including personal injury claims, car accidents, employment law violations, and any other type of civil matters. When you live in or around Islip, you do not need to jump through hoops to get the help you need.
Our Islippre-settlement funding is available to those who meet our eligibility requirements. Find out whether you meet the criteria when you fill out our application or contact our team for help today.
When You Need Immediate Cash Apply for Lawsuit Loans in Islip Today
You must understand your rights before filing your personal injury case and setting yourself up with a lawsuit funding firm. The state has an imposed three-year limit for most personal injury cases.
The New York court system won’t likely accept your case when the time has run out. As a result, you will lose your right to claim compensation for your injuries and other damages. Some victims hesitate to file a lawsuit because of the financial implications of legal battles. They are complex and often take time to settle. This may leave them financially dry and struggling.
Thus, the lawsuit loan. It is a settlement funding to help victims pay for daily living expenses, mortgage/rent, insurance, tuition, debts, etc. Applying for lawsuit loans can help you get immediate funds before your case settles. Call us today to get settlement funding in Islip, New York.
To apply for free, call (877) 735-0016
Defining Settlement Loans
Settlement loans are non-recourse loans where borrowers are not obligated to pay for the borrowed amount if they do not win the case. Furthermore, the loan amount is based on the future court award, not collateral or personal assets.
Lawsuit Loans vs. Personal Loans
Both options aim to address financial worries. However, these two have more differences than similarities.
Personal loans involve collateral. A secured bank loan means the lender assumes ownership of the collateral if the loan is not paid. On the other hand, an unsecured bank loan means that the lender can pursue legal action if the borrower cannot pay the balance.
Lawsuit loans do not need collateral. The settlement loan providers take the risk and thus, only accept applications with the highest chances of winning their claim. Plaintiffs will not have to pay for the lawsuit funding if the case isn’t won. However, not all legal funding firms have the same contingency, so reading the fine print before signing the lawsuit loan agreement is essential.
Islip Pre-Settlement Funding Lawyer Near Me (877) 735-0016
How Much Pre-Settlement Funding You Can Qualify For
Plaintiffs use pre-settlement loans to cover expenses, bills, and initial costs of their lawsuits. Legal funding firms boast quick and easy processes for settlement loans.
Typically, pre-settlement funding providers like High Rise Financial can offer up to 10% of the total amount of the expected compensation. You can apply for multiple lawsuit loans if you still have not borrowed the maximum amount.
Therefore, the amount depends on the strength of your case and the payout when the case is won. You can receive legal funding of somewhere between $500 to $500,000 within 24 hours of application.
How Islip Legal Funding Repayment Works
One of the top reasons more individuals dealing with civil claims hesitate to take out a lawsuit loan is because they are worried about what will happen if their attorney does not win their case. The good news is our non-recourse loans are contingent upon your attorney winning.
If your lawyer does not produce a financial recovery, you will not have to pay anything back after receiving your legal funds. If your lawyer does win your case, they will pay us back with a portion of your settlement and then write you a check for the remaining amount, minus their attorney’s fees.
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Pros and Cons of Lawsuit Loans Lawsuit Loans in Islip
There are benefits and drawbacks to settlement loans. It’s essential to consider these things before applying.
Pros: When You Are in a Financial Bind
Insurance companies often drag the process and push victims to settle for lowball offers. You are no longer forced to accept compensation you don’t deserve.
Pros: Zero Risk
The pre-settlement funding providers assume most of the risk, not the borrowers. You do not put your asset as collateral, so you won’t lose anything if you don’t win the case.
Cons: High-Interest Rates
Let your attorney check the settlement loan agreement before signing. Spot any hidden charges. Ask for the interest rate, whether compounding or non-compounding. Pre-settlement funding providers typically have an annual 27% to 60% interest rate.
Look around and shop for a reputable lawsuit loan firm. Compare quotes and interest rates, and do not hesitate to mention that you are looking out for other options. Be straightforward and ask for transparency.
Apply for Pre-Settlement Funding Today
High Rise Financial is a firm that values integrity and honesty. Every case that comes through our doors is assessed and treated as an investment and an opportunity to help. Find out whether you qualify for a settlement loan with us today when you call our loan specialists or fill out our convenient contact form.