Victims of sexual abuse cases may have to wait a long time to obtain justice. These lawsuits can take years to resolve and put immense financial pressure on plaintiffs. A personal injury loan for your sexual abuse lawsuit can help you outlast the defense.
In many sexual abuse cases, the defendant draws negotiations to force plaintiffs to accept a lower settlement. Legal funding can serve as a lifeline to help you cover your current expenses. Find out how you can benefit from this risk-free source of financing.
In This Article
How Legal Funding Works in Sexual Abuse Lawsuits
Legal funding for a sexual abuse lawsuit is a potential source of money that presents no risk to your finances. Unlike a personal loan or credit card, a personal injury loan is a non-recourse debt. Thus, your assets can’t be used to repay the cash advances. You only pay for it when the case settles in your favor using the award you get from the defendant.
Pre-settlement legal funding can present an attractive option for many plaintiffs, some of whom may not wish to put their assets at stake in their case. In many other instances, plaintiffs are of limited means and don’t have the collateral necessary for larger loans. A lawsuit loan uses only a particular portion of your settlement as collateral, protecting your finances.
How Much Do Lawsuit Loans Cost?
The cost of your pre-settlement legal funding will depend on the specific circumstances of your case. However, you can expect to pay a low-interest fee when you work with a reputable legal funding company. Some unscrupulous companies charge high compounding interest rates. You are cleaving them with little to no settlement by the end of their case.
A reputable legal funding company won’t just charge a low-interest rate, they’ll also use simple interest. This dramatically reduces the interest you’ll pay by the end of your case. Regardless of how much a company tries to charge you for a personal injury loan on your sexual abuse lawsuit, you’ll never owe more than your settlement is worth.
Do You Need Your Lawyer’s Approval to Obtain a Lawsuit Loan?
You will need the approval of your lawyer to obtain a lawsuit loan. But if your current lawyer disapproves, you may be able to find another. There are a few reasons for this:
- Cases with lawyers have better outcomes: Plaintiffs are likelier to win when a law they’re represents them. Their case is a better investment for a legal funding company.
- Your lawyer will be paid via legal funding: Once you decide to work with a legal funding company, they’ll produce your lawyer. Some lawyers don’t want to involve third parties in this process.
Most contingency-based lawyers work with a legal funding company. However, if your lawyer doesn’t want to accept legal funding, you may need to find new legal representation.
How Do Statute of Limitations Laws Impact Sexual Abuse Lawsuit Loans?
The statute of limitations gives victims of sexual assault more time to come forward. At the same time, many personal injury cases have a two-year statute of limitation. Sexual assault cases, on the other hand, have a ten-year statute of limitation.
In New York State alone, victims of childhood sexual assault may file a criminal claim up until age 28 and have until age 55 to file a civil lawsuit. Pennsylvania, New York, New Jersey, and California have all taken steps to extend the horizon over which victims may file claims.
However, many legal funding companies are still reluctant to fund these cases, as defendants often claim bankruptcy when they lose. That said, some companies will support these cases despite the risks.
Get a Personal Injury Loan for Your Sexual Abuse Lawsuit Today
High Rise Financial offers pre-settlement personal injury loans for sexual abuse cases. We can provide you with up to $1 million in funding within 24 hours of your application’s approval. Applying takes just a few minutes and can be done online or by speaking with one of our team members.
You deserve justice in your case, and legal funding can give you the necessary resources. Our funding options carry no risk to you and don’t need to be repaid if you lose your case. Contact us today to give yourself the advantage you need to win your case.