Victims of sexual abuse cases may have to wait a long time to obtain justice. These lawsuits can take years to resolve and place 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 will try to draw out negotiations to force plaitiffs to accpe to alower 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 form of non-recourse debt. This means that your personal assets can’t be taken to repay it, only the collateral that was used to obtain it—your settlement itself—can be used as repayment.
Pre-settlement legal funding can present an attractive funding option for many plaintiffs, some of whom may not wish to put their own assets at stale in their case. In many other instances, plaintiffs are of limited means and simpy don’t have the collateral necessary for larger loans. A lawsuit loan uses only a certain 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 will charge their clients high, compounding interest rates that leave 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 amount of 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 actually 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 doesn’t approve, you may be able to find another. There are a few reasons for this:
- Cases with lawyers have better outcomes: Plaintiffs are much more likely to win when they’re represented by a lawyer, making their case 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 be involved in the process of paying your lawyer. Some lawyers don’t want to involve third parties in this process.
Most contingency-based lawyers will work with a legal funding company should you decide to hire one, making it unlikely that you’ll face this problem of non-cooperation. However, if your lawyer doesn’t want to accept legal funding as you feel like you need it, you may need to find new legal representation.
How Do Statute of Limitations Laws Impact Sexual Abuse Lawsuit Loans?
Statute of limitations laws have been modified in many states to give victims of sexual assault more time to come forward. Whereas many personal injury cases have a limit of two years within which you can file, some states are giving sexual assault victims decades to file a claim.
In New York State alone, victims of childhood sexual assault may file a criminal claim up until the age of 28 and have until age 55 to file a civil claim. 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 types of cases, as defendants often claim bankruptcy when they lose. That said, there are some companies that will fund 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 resources you need to achieve it. 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.