Pre-settlement funding, also known as lawsuit loans, can provide a lifeline for personal injury plaintiffs facing financial difficulties during the settlement process. Unlike traditional loans, pre-settlement funding is usually risk-free and non-recourse, meaning you don’t have to repay it if you lose your case. However, it’s important to choose the funding option that best suits your needs, rather than simply focusing on the lowest cost.
Eligibility for Pre-Settlement Funding
Applying for pre-settlement funding is completely free and carries no risk, so it’s worth considering if you believe you qualify. To determine eligibility, the following factors are taken into account:
- Valid Lawsuit: You must have a legitimate lawsuit.
- State Eligibility: Your case must be eligible for pre-settlement funding in your state. Check the list of cases we fund to see if yours is included.
- Reputable Attorney: It’s essential to be represented by a reputable attorney.
Additionally, please note that High Rise Financial only serves certain states. Visit our website to learn more about the states we operate in.
How Pre-Settlement Funding Works
The process of obtaining pre-settlement funding begins with a simple application. You will need to provide details about your case and explain why you need the funds. This step is usually straightforward, and many applicants are already pre-approved for the cash they require.
The amount of funding you receive is based on the projected settlement amount you are likely to receive. Minimal fees may be involved. When working with a pre-settlement funding company, you won’t have to worry about repayment if your personal injury lawsuit is unsuccessful. If you win your case, the company will receive the repayment from your compensation package. If you lose, there is no obligation to pay back the funding at all.
Securing the Best Pre-Settlement Funding Rates
Obtaining the best interest rates on lawsuit loans requires choosing the right provider. When selecting a legal funding company, consider the following factors:
Experience: Look for a pre-settlement funding company that has a long-standing reputation. Experience matters when it comes to helping clients through the challenges of filing lawsuits.
Specialization: Opt for a company that specializes in personal injury litigation. This ensures you are dealing with a team of professionals experienced in handling these types of claims.
Fast and Reliable: Choose a company that offers speedy approval and payouts.
Are Lawsuit Loans Worth It?
Whether a lawsuit loan is worthwhile depends on each plaintiff’s unique circumstances. If you’re unsure about pursuing a lawsuit loan, keep in mind that having more time to settle your case could lead to a larger settlement. Even after paying the fees associated with a lawsuit loan, you may find that having the funds to cover your needs during this time is well worth it.
Repaying Pre-Settlement Funding
Repaying your pre-settlement funding is simpler than you might think. You won’t be expected to make repayments until your attorney secures a financial recovery in your case. If your lawyer is unable to obtain compensation, there is no need to worry about the funding company pursuing collection efforts against you.
If your lawyer does win your case, they will be responsible for repaying the lawsuit loan. An agreed-upon percentage of the compensation you receive will go towards covering the pre-settlement funds that were advanced to you. This ensures that you won’t face any additional financial burdens once your case is resolved, allowing you to move forward with your life.
Factors Affecting Pre-Settlement Loan Interest Rates
Your personal credit history, income, and employment won’t impact the interest rate for your pre-settlement loan. At our company, interest rates are based solely on the likelihood of winning your case.
The Importance of Interest Rates
When seeking lawsuit funding, you’ll find numerous companies offering their services. It’s crucial to choose a trusted legal financing company with reliable and transparent rates. Compound interest can significantly affect the total cost of funding, so knowing the rates upfront is essential. Over time, compound interest can accumulate and potentially create financial difficulties.
Fortunately, High Rise Financial offers lawsuit funding with favorable terms, without any hidden fees or unfair financing charges. Our pre-settlement funding is designed to improve your financial situation, not worsen it.
Consult with Our Lawsuit Funding Specialists
Obtaining assistance from our team of lawsuit funding specialists at High Rise Financial can streamline your settlement funding application, making it hassle-free. When you reach out to us, our trusted specialists will:
- Educate you on the available legal funding options.
- Review your case and determine if you are eligible for settlement funding.
- Guide you through the application process.
- Ensure that all important details are included in your application.
- Keep you updated on the status of your settlement loan application throughout the process.
Our specialists will support you through each phase of your lawsuit loan application and help you make informed decisions.
Apply for Pre-Settlement Funding Today
If you need an immediate cash advance to cover expenses while your case is ongoing, apply for legal funding at High Rise Financial online today. You can also contact our dedicated representatives at (866) 407-6404. Together, we will explore your options and guide you through the application process from start to finish.