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The sudden death of a loved one due to someone else’s gross negligence can place an immense financial burden on families. However, even if you have a solid wrongful death case, it could be months or even years until you see the money from your settlement. The waiting period for your settlement can be frustrating and anxiety provoking.
With a wrongful death lawsuit loan, you can get cash now from your expected future settlement. In addition, this settlement loan will help you fight against the stall tactics of the defendant, who will drag their feet in the hopes that you accept a smaller settlement than you deserve.
Pre-settlement funding can help you pay for essential expenses while you wait for your lawsuit to settle.
What Qualifies As Wrongful Death?
A wrongful death is one that results from negligent or illegal actions of another person, group, or entity. According to the Centers for Disease Control and Prevention (CDC), 173,040 people died in 2019 because of unintentional injury deaths. This makes wrongful death the third leading cause of death in the nation on average.
Wrongful deaths shouldn’t go unpunished, but lawsuits for them often take a long time to settle in court. If your wrongful death lawsuit is taking too long to reach a settlement, you don’t have to put yourself in financial ruins waiting. A legal funding company can help you pay off your bills and expenses during the trial.
How does Legal Funding Work?
Unlike other forms of financing, legal funding is considered a non-recourse debt by the IRS. This means that you have no obligation to repay it from your personal finances, leaving your potential settlement as the only source of repayment. Our legal funding is a non-recourse source of cash that you use to pay off various expenses, such as:
- Any lingering medical bills
- Mortgage or rent payments
- School or tuition fees
- Groceries and living expenses
- Any financial obligations that the deceased took care of
There are zero restrictions on how you choose to use our legal funding. As a bonus, because your funds are non-recourse, you aren’t liable for them if your lawsuit doesn’t go as planned. In other words, if you don’t win your lawsuit and receive compensation, you don’t owe us anything in return guaranteed.
Other places that provide lawsuit loans tack on high-interest rates and other hidden fees. You will never have to pay any upfront fees whatsoever when you apply for legal funding with us. We also don’t charge any interest fees or monthly payments on your funds, so you can relax and focus on what matters the most — your lawsuit.
Who Can Ask for a Wrongful Death Lawsuit Loan?
Many states have limits on who can legally bring forth a wrongful death claim. Usually, it’s limited to people who had a financial dependence on the deceased, like a spouse or a child. We can only offer loans to the person who brought forth the lawsuit.
When we speak to your lawyer, we’ll get all the details of who can receive the income. It is a requirement that you have a lawyer working on your case before we can lend to you. This is important because it lets us know you have a chance of winning your case.
How Much Legal Funding Can You Get?
The amount of wrongful death lawsuit legal funding you can qualify for will depend on the specific circumstances of your case. Your legal funding company will examine the following factors to determine how much pre-settlement funding they are willing to offer you:
- The deceased’s finances and earning power
- The scale of your family’s dependence on the decedent
- Their pain and suffering immediately before their death
- The mental anguish of those around the decedent
Benefits of Pre-Settlement Funding for Wrongful Death Lawsuits
There are several key benefits that legal funding can provide you with during a wrongful death lawsuit. Pre-settlement funding can help relieve stress that you may feel as bills start to pile up when you are grieving your loved one.
Traditional lawsuit loan companies may make it harder to receive and repay the money you take from your settlement. Our pre-settlement funding makes it an easy and stress-free process during this difficult time.
Getting Money You Need Fast
While you’re fighting your wrongful death lawsuit, you may be in a tight financial situation. Dealing with a wrongful death can be mentally and financially crippling, and you may need support fast to make payments.
When you apply for wrongful death legal funding, our financial experts will work fast to get you approved quickly. You can receive a notification of approval within 24 hours and will receive your funds shortly after. Typically, most people get to cash in their accounts within 48 hours or less.
Please keep in mind that there are some things that we cannot control, like your bank’s processing times and the mail service speed. But we are working hard to get you the pre-settlement funding you deserve.
No Need for a Credit Check or Financial Documents
You don’t have to provide any financial documents, such as proof of employment or pay stubs. Additionally, we don’t require your credit score, so there’s no credit check required. Legal funding isn’t like a traditional lawsuit loan, so there’s no need for anything other than what we ask for on your application.
We don’t require this because we don’t need to know anything about your financial situation — past or present. We won’t be contacting you about any interest you owe years later because we don’t charge interest.
Defend Against the Insurance Companies
Insurance companies are known to drag out negotiations or trials. While this may seem detrimental on their end, the truth is that doing so actually allows them to gain the upper hand. This is because they are trying to exploit you after suffering from the wrongful death of a loved one.
The longer they delay your settlement, the more frustrating it is to be patient. Combined with a rising amount of debt, this will more than likely make you more willing to settle on the insurance company’s terms, which means settling for less. Legal funding can provide you with the cash you need to nullify their stall tactics and keep persevering for the settlement you deserve.
Can I Get More Than One Wrongful Death Lawsuit Loan?
Yes, getting more than one lawsuit loan for the same case is possible. We’ll examine the changes in your case since your first loan to see if you’re eligible for more funding.
To receive more funds:
- You must have only taken a portion of the pre-settlement loan that we offered you in the initial lawsuit loan. If you have not taken the total 20% of your settlement that we offer, you may be eligible for more funding if our specialists agree that you qualify.
- Your case’s expected compensation must have increased due to developments in your case, such as discovering additional negligence of the party you sued. If you and your attorney are seeking an increased amount in damages, you may be eligible for more legal funding.
If you meet the above requirements, we will review your request for more funding. Depending on your case, we may be able to offer additional funding.
Some factors could influence the amount you’re able to receive:
- Details of your case and your state’s laws
- Who filed a claim against (individual, company, government agency)
- The severity of your injuries
- Cost of current and future medical bills
- How likely you are to recover fully
- Total estimated loss of income
- Property damage
- If you can seek punitive damages
- If your case is a wrongful death case
Choosing Your Legal Funding Company
A reputable legal funding company will follow a set of industry-wide standards that govern its behavior and the terms of the funding it offers. The lending specialists won’t exploit and take advantage of you during this stressful and emotional time. Instead, they’ll want to provide you with safe and risk-free funding that can help you win the maximum amount of compensation for your claim.
Beware of companies that charge high-interest rates and compound interest rates. Your case is the only thing that should be evaluated for risk, not your personal finances or credit history. The standards laid out by the Alliance for Responsible Consumer Legal Funding (ARCLF) provide guidelines you can use to evaluate a legal funding company. With this information, you’ll be in a better position to find the help you need for your case.
Apply for Legal Funding Today With High Rise Financial
Legal funding can tip the balance of your settlement case in your favor by making you less reliant on your payout. Instead of waiting to receive your settlement, you can take a portion now to help cover your bills and any other expenses you might face.
You can submit a free no-obligation application for legal funding with High Rise Financial today. We keep everything confidential and never divulge your personal information to anyone. Apply now to take advantage of this option for your wrongful death lawsuit legal funding.