Risk-Free Lawsuit Loans in Yonkers, New York
You don’t have to think about your financial worries during the lengthy legal battle. With settlement loans, you can support your family, pay the bills, and other expenses. At High Rise Financial, we aim to provide victims with the lowest lawsuit funding.
What is a Lawsuit Loan?
Lawsuit loans come in many names. Others refer to it as settlement funding, settlement loan, or pre settlement funding. Lawsuit loans are for victims waiting for a future court award for a personal injury case.
Legal funding is still a highly criticized option despite the benefits. In 2017, the New York attorney general and theConsumer Financial Protection Bureauclaimed that a pre settlement loans provider scammed victims of the 9/11 bombing by offering overly expensive lawsuit funding.
Still, many plaintiffs resort to settlement loans as a quick solution to their financial problems.
Settlement Loan FAQs
Settlement loans are newer financing options for plaintiffs. Granted, there are still several questions surrounding it. Here are a few.
Can my lawyer provide a loan instead?
It is unethical to ask your attorney for legal funding. This may result in a conflict of interest in the end.
How can I qualify for pre-settlement funding?
You are eligible for a settlement loan if you have an ongoing personal injury case and if you have a legal representative. New York has a three-year statute of limitation, so make sure you file your claim within that period. You will have a higher chance of getting approval for your loan if you have a solid case.
How does it work?
Credit history isn’t a basis here. However, the strength of your case does. The application process is quick and often available online. Pre-settlement funding companies ask for the necessary information about the case and call the legal representative to verify the information provided.
Once the initial assessment is done, the firm decides on the legal funding amount to offer. Usually, this is no more than 10% of the expected settlement amount when the case is won. However, you are not obligated to pay for the loan if the case isn’t won in your favor.
Can I apply for multiple lawsuit loans?
Yes, you can. However, you can only do so from one pre settlement funding provider. If the firm doesn’t approve your application, you may look for another provider. The following firm will then reach out to your first lender and pay out the loan you owe.
Tips To Consider When Applying for Legal Funding
Here are some tips to consider before you apply for lawsuit loans.
- Look for a firm with the lowest interest rates and fewest fees. Check for pre settlement loan providers with non-compounding and capped rates.
- Don’t get brokers. Deal with the lawsuit loan providers yourself instead of getting a broker. They often charge higher fees for their services when you can use this money to pay your bills and other expenses.
- Don’t sign right away. Review the contract and let your attorney check the pre settlement funding agreement. Some providers hide their additional fees and hidden charges in pages of contracts. So, read and understand everything stipulated in the settlement loan agreement.
Need a Settlement Loan? Choose High Rise Financial Today
Schedule a one-on-one consultation with us. Our lawsuit loan specialists are always available to address your woes. Furthermore, our pre settlement funding is risk-free. You don’t have to worry about your lawsuit loan repayment options while the case is ongoing.