If you have been the victim of someone else’s negligence and are currently involved in a personal injury lawsuit as the plaintiff, are you struggling to pay your bills? Do you wonder how you’re going to get by until your lawsuit settles or results in a jury award?
If so, you’re in luck. A specific settlement funding option called a lawsuit loan can give you the money you need with no strings attached.
How you qualify for lawsuit loans
Not everyone qualifies for lawsuit loans. To do so, you have to be a plaintiff in a personal injury lawsuit, and that lawsuit has to be likely to settle or result injury award. You must also have hired your lawyer on contingency, meaning that he or she won’t get paid unless you win, and your lawyer must agree that applying for this type of presettlement funding is a good idea.
There are no financial hoops to jump through, no credit reports check, no collateral to provide. Your collateral is in effect your status as a plaintiff in a personal injury lawsuit, with that lawsuit likely to result in some sort of monetary compensation.
How lawsuit loans work
Assuming that you meet the qualifications, you apply for a lawsuit loan through one of the companies that offer these types of litigation financing vehicles. You receive the money, usually about 10% of what is expected to be your jury award or settlement, once you’re approved.
You don’t have to pay the money back unless you win your case
Unlike most types of loans, lawsuit loans won’t saddle you with a debt you’ll have to pay back whether or not you win your case. That creates further hardship for you, and it’s hardship you likely don’t need.
Instead, you’ll be expected to pay back the amount you borrowed once you win your case, plus interest and fees. If you lose, however – and this is very important – you won’t have to pay back anything. These companies are very, very careful when they decide which candidates are qualified to receive this type of settlement funding, so when you’re offered this money, it’s considered a good risk to them that you win your case. If you don’t, they absorb this risk and release you from any financial obligations to them free and clear. Simply get on with life, sure in the knowledge that you’ll have no financial obligations to worry about.
Are you a personal injury victim? Have you been injured as a result of someone else’s negligence, such as in a slip and fall accident? Are you struggling to recover from your injuries, such that paying bills is difficult? Have you been unable to work – or been working only part-time – since the incident?
If the above are true, there’s a type of loan you can get that was created especially for you as a personal injury victim. These loans are called settlement loans, and they’re meant to provide a portion of your expected jury award or settlement while you wait for your case to wend its way through the courts.
How do you apply for settlement loans?
Before you apply for settlement loans, you first have to talk to your lawyer about doing so. You must have hired your lawyer on contingency, and he or she must agree that you can indeed apply for these loans. If your lawyer won’t sign off on the loan, you won’t be able to qualify.
However, if your case is likely to settle out of court or result injury award AND your lawyer agrees that you can apply for one, the next thing to do is to contact a settlement loans company. They’ll review case to make sure it’s valid and verify that your lawyer agrees it’s a good idea to do so. They’ll also make sure your case is likely to result injury award or settlement. With all of those requirements met, you are given the money you need, usually about 10% of the expected final amount once your case is complete.
Is it necessary to pay the money back?
Usually. If, as expected, your case results injury award or settlement, you’ll be expected to pay the money back plus fees and interest. However – and this is important – if you don’t win your case and receive a jury award or it doesn’t settle out of court, you’ll obviously have received no money from your lawsuit as expected. In that case, you owe nothing to the settlement loans company and can simply walk away with no debt from this experience. That’s very different than taking out a traditional loan, which requires collateral and income verification in addition to the requirement that you must pay the money back.
Why worry about money while you wait for your lawsuit to make its way through the courts? Take advantage of a special type of litigation financing called settlement loans – created especially for you – and take care of those financial worries today.
Are you the victim of someone else’s negligence? Have you suffered a personal injury, such that you have filed a personal injury lawsuit against the offending party? Is your case likely to settle or win in court? Are you having difficulty making ends meet while you wait for your lawsuit to complete?
If you’ve answered “yes” to these questions, you may be eligible to apply for something called a lawsuit loan. Lawsuit loans, sometimes also called “personal injury loans,” are loans that in effect let you borrow against your expected jury award or settlement when you are a personal injury lawsuit plaintiff.
How this type of settlement funding works
Applying for lawsuit loans isn’t anything like applying for traditional loans. You don’t need collateral, and your credit history will not be checked. Instead, companies that specialize in this type of litigation financing take a look at the personal injury case you’re involved in, and will determine if it’s likely to settle or result in jury award.
There are a couple of other requirements as well. Your attorney must have been hired on contingency (meaning that he or she will not collect monies from you unless you win your case), and your attorney must agree that applying for lawsuit loans is a good idea. If these requirements are met, the company you’ve applied through will give you a percentage of your expected settlement or award, most often about 10%.
This gives you the money you need to pay bills and other living expenses while you wait for your final settlement or jury award to arrive. When it does, the company will recoup what it lent you, plus fees and expenses.
There’s no risk
The good news is, if you are found eligible for one of these loans and you don’t win your case after all, the litigation financing company involved simply absorbs your lawsuit loan. You don’t have to pay back the money you’ve borrowed. This makes it a much better option for you if you’re already struggling with finances; you can simply dispense with any further worry about the loan and move on with your life.
Don’t wait. These litigation financing companies understand how difficult it is to try to heal from injuries AND continue to pay bills, which can be difficult to impossible if you’re not working right now because of your injuries. You may also have medical bills to pay as a result of your injuries, such that you need money now. Lawsuit loans can provide you the financing you need with no risk and no obligation.
Has this happened to you? You’re going along with your life as usual, working, taking care of your family, paying bills just fine – and then all of a sudden, you find yourself flat on your back and unable to do much of anything, thanks to someone else’s negligence.
Suddenly, life comes screeching to a halt. You can’t work, you can’t pay your bills – and you begin to struggle financially. While not much can be done about your injuries and recovery time, there is a way to receive money while you wait for your personal injury lawsuit to settle or win in court. You can do so through something called lawsuit loans.
What are lawsuit loans through Mayfield Settlement Funding?
Lawsuit loans are a kind of litigation financing whereby you can in effect “borrow against” your expected settlement or jury award in your personal injury case. There are a few requirements you must meet in order to qualify for one of these loans. Number one, you must be the plaintiff in a personal injury lawsuit case that is likely to win or settle out of court. Number two, you must have hired your learner on contingency, meaning that he or she does not get paid unless you win your case. And number three, your lawyer must agree that applying for lawsuit loans is a good idea. If you meet these three requirements, you can qualify for this type of litigation financing.
No collateral, no financial hoops to jump through
Unlike other types of loans, you don’t have to provide collateral – except the proof that you are involved in a valid personal injury lawsuit case that’s likely to win or settle out of court. In effect, your future settlement or jury award is the collateral for this loan.
Money to use for whatever you wish
When you qualify for one of these loans, you can expect to receive about 10% of your future expected jury award or settlement. You can use it to pay bills, or for whatever you wish. When you do win your case or it settles out of court, you’ll pay the company back the money borrowed, plus fees and interest. Importantly, though, if you don’t win, you don’t have to pay the money back at all. That’s right. You are free to go, owing nothing in return for having been loaned this money.
Why wait? Lawsuit loans can give you the money you need to take care of bills so that you don’t have to worry while your case wends its way through the courts. Just focus on recovery and on getting back to normal life.
You may have heard the term ‘lawsuit loans’ on television or seen it in newspapers and wondered about how it works. Unless you are a plaintiff involved in a personal injury lawsuit, you would really have no use for litigation funding. However, if you have been injured and are involved in a lawsuit, you will be very interested to know that lawsuit loans are simply a cash advance against the money you expect to be awarded in a lawsuit. In essence, if you qualify you can get a portion of your settlement now, when you need it most.
When you have been seriously injured, you may be unable to work. Between the added medical expenses and inability to work, bills can pile up and you simply cannot pay them all. It’s stressful, particularly when your injuries are not your own fault and your life has been turned upside down by someone who was negligent. Lawsuit loans help ease the stress by providing you with the money to pay your bills and live normally while waiting for your lawsuit to settle.
How does litigation funding work, and how do you know if you qualify?
Lawsuit loans are granted only to those who qualify, which is really determined on the details of your claim and whether it’s valid. For instance, frivolous lawsuits are not considered. Your attorney will gather the necessary information to submit to the funding company for its review. This information will include the nature of your injuries, how serious they are, medical reports, and the details of the accident or circumstances which caused your injury. If your claim is strong and will likely win, you will probably qualify.
Do you have to pay any money out of your own pocket?
No. With lawsuit loans, you only repay the loan along with any applicable fees and/or interest when you have won your lawsuit and have received compensation. There are no monthly payments, no up-front fees. If for any reason your attorney fails to win your lawsuit, you owe absolutely nothing to the litigation financing company.
How much of an advance can you get if you qualify?
Most company who specialize in lawsuit loans offer an advance of approximately 10% of your expected award. So, if your attorney determines that your case is valued at $350,000, you will likely be advanced about $35,000 if you qualify.
This type of funding is ideal for plaintiffs who find they’re facing financial issues while waiting for their lawsuit to settle, but it isn’t right for everyone. Learn more about litigation funding online, or discuss it further with your attorney to determine if it’s the right option for you.
When you hear the term ‘lawsuit loans,’ it’s natural to think that the process is actually related to a loan. Actually, it is a cash advance given against an expected lawsuit settlement to those who qualify. Essentially, if you have a strong case you may be eligible to receive a portion of your own money early, before your lawsuit completes.
Litigation financing has helped thousands of people pay their bills and live comfortably while waiting for a personal injury lawsuit to settle. Lawsuit loans make it possible to pay medical expenses and household bills, or to catch up on financial obligations so that you can avoid further financial issues or possible bankruptcy. In most cases, funding companies advance about 10% of an expected settlement.
Qualifying for lawsuit loans is easy, as long as you have a strong case. Litigation financing companies usually approve those whose cases are viable and likely to win, but do not accept frivolous or weak cases. The only information required from you and your attorney is that which is directly related to your injuries and the accident or circumstances that caused them. Whether you have bad credit or even no credit makes no difference. Employment verification or background checks are not necessary, either, as the funding company will recoup its money if you do win your lawsuit.
Lawsuit loans are a good solution for many personal injury plaintiffs who need money, simply because there are no up-front costs or fees to make an already difficult financial situation worse. You never repay a dime until you win your case and have control of your money. At that time you will repay the litigation financing company the amount of the advance, as well as any applicable fees or interest. The remaining money is yours to do with whatever you please. In the event you are not successful in winning your lawsuit, you owe nothing.
The process of applying is quick and easy, and if you qualify you can expect to have the money you need in as little as 24 hours. For many who have suffered injuries caused by negligence, settling for what the insurance company offers will not do; however, proceeding forth with a lawsuit is costly. Lawsuit loans allow you to level the playing field, so that you are not forced to accept a low-ball offer from the insurance company and can live normally while your attorney fights for the full compensation you deserve.
Are you the victim in a legitimate personal injury case? Even though you are in the process of getting justice for what you’ve gone through so that you can have the financial resources to take care of yourself and your family as you recover, you’re probably struggling to pay bills and make ends meet right now. You may not be able to work anymore as a result of your injuries, and you may find that you can’t pay for everything you need to, including medical expenses that have cropped up as a result of the treatment you’ve needed and the expenses of everyday life.
Your settlement will take care of that, of course, once it comes through, but what you do before that day comes? Fortunately, there’s a type of funding called settlement loans that can help you make ends meet until your settlement or jury award is finalized.
How can these loans help you?
* They give you financial assistance until your settlement comes through
Settlement loans in effect lend you a given amount based upon your expected settlement or jury award amount. This loan is meant to tide you over until settlement is reached and the monies can be disbursed. Once you have received monies from your settlement, you pay back the litigation funding giving you through settlement loans, plus fees and interest. Usually, the amount of money you receive in the settlement loan is about 10% of your expected jury award or settlement.
* You don’t have to pay the money back if you don’t win your case
Companies that specialize in these settlement loans review your application carefully to determine if you’re eligible. If your case is very likely to settle in your favor, you’ll likely be approved for the loan. However, on the off chance you would don’t win your case, you don’t have to pay back the loan you’ve gotten from the settlement loan company. Instead, you simply walk away free and clear, and rebuild your life after injury.
* Things to keep in mind
With this type of litigation funding, your attorney has to sign off on your settlement loan application, in that he or she has to think it’s a good idea for you to apply for this loan. Your attorney will also have to be hired on contingency, which simply means he or she won’t be paid if you don’t win your case. These things provide reassurance to the lending company that your case is indeed valid.
Pre-settlement funding is a process in which a plaintiff who has been injured and is involved in a personal injury lawsuit may qualify to get an advance (usually about 10%) against a pending or expected settlement. Personal injury cases are widely known for taking months to settle; in the meantime, those who are the victims often suffer financially due to medical costs, the inability to work, and the fact that their lives have been turned upside down.
Litigation financing companies make it possible for individuals who qualify to get a portion of their expected settlement almost immediately. To qualify for pre-settlement funding, you must have a strong lawsuit. That is basically the only requirement, as it makes no difference if you have bad credit or are not currently employed. In order to learn if you qualify, your lawyer will provide the litigation funding company with information regarding the accident or situation that left you injured, and medical reports and other information regarding the seriousness of the injuries you sustained.
With pre-settlement funding you can have an advance on your pending claim usually within 24 hours if you qualify. This money may be used to pay medical and household bills, to buy groceries, even to pay attorney fees. Essentially, you can live without financial stress and pay the bills while waiting for your lawsuit to settle. This money can also help your attorney have the financial resources he or she needs to build a strong, effective case on your behalf.
Do you repay the litigation funding company, and how does it work? Yes, you will repay the funding company, but only when your case has been won and you have access to your money. There are no monthly payments or upfront costs to put you further in debt. You only repay the money when you actually have it. Pre-settlement funding is a process that is no-recourse, which simply means that if you lose your lawsuit, you do not repay the advance or any associated fees and/or interest.
Your attorney can help determine if pre-settlement funding may be a good option for you. Personal injury lawyers are very familiar with litigation funding and how it works, so you may want to discuss the process with your attorney. There is also plenty of information available online to help you better understand how it works. This type of loan can help you avoid financial distress, and possibly even bankruptcy by giving you the money you need immediately.
Pre-settlement funding is simply a process in which an injured victim who qualifies may get an advance on a pending personal injury lawsuit settlement. If you qualify for litigation financing, the money you receive can be used to pay household bills, medical costs, to buy groceries, for attorney fees and more.
Personal injury plaintiffs often face a very difficult situation financially; between medical costs and lost wages, it can become nearly impossible to pay the bills and meet financial obligations. This is where an advance comes in handy, and can possibly prevent foreclosure or bankruptcy.
How much of an advance can you get if you qualify for pre-settlement funding? In most cases, about 10% of what you expect to win in your lawsuit. For instance, if your attorney filed a lawsuit for $375,000, you can expect an advance of about $37,500 if approved for an advance.
What does it take to get approved? Your lawyer will submit the necessary information to the litigation financing company regarding the lawsuit, how your injuries occurred, and the seriousness of those injuries. Most applicants who have strong cases which are likely to be won do qualify. Frivolous or “weak” cases are not accepted. In addition, it makes no difference if you have bad credit or no credit. Litigation funding companies are interested only in the validity of your claim, not your background record or employment status.
How do you repay the advance? Pre-settlement funding is a process which is no recourse, which means that you only repay the advance and applicable fees and/or interest if you do win your lawsuit. If you do not, you owe nothing. You will only repay the funding company at the time your lawsuit is won and you have your money in hand, so there are no monthly payments to worry about.
There are no up-front costs or out-of-pocket expenses with pre-settlement funding, and you can get the money you need almost immediately if you qualify. In essence, you are simply “borrowing” against your own money. Once you repay the litigation financing company the amount that was advanced to you plus fees and interest, what remains is yours.
Pre-settlement funding makes it possible to live comfortably and keep creditors from hounding you while you wait for your lawsuit to reach completion. Your attorney knows all about this process, so discuss the benefits and whether it would be a good option for you today. You could have the money you need by tomorrow!
You may have heard of settlement loans, particularly if you are the plaintiff in a personal injury lawsuit. The name is a little misleading, considering this type of litigation funding is actually not a loan at all, but a cash advance given against a pending lawsuit settlement to those who are approved. Essentially, if you qualify you are getting a percentage of your own money, that which you expect to be awarded in your lawsuit. So, how does it work?
Basically, the litigation funding company must approve settlement loans, which is easily accomplished. If you are the victim of negligent circumstances and have suffered legitimate injuries, chances are you will qualify. Settlement loans are not given for lawsuits which are considered frivolous; however, if your case is a legitimate one which is likely to win, you will likely qualify. You and your attorney will submit the required information to the funding company, which will include the details of your injuries and the accident or circumstances which caused them. Personal information such as credit rating, employment history or status, and criminal background will not be required.
Once the litigation funding company has all of the information for review, it will be determined whether you qualify quickly. With settlement loans, you can expect to get the money you need to pay household bills, medical expenses, attorney fees, and more within 24 hours of approval. In most cases, the financing company will advance about 10% of your expected settlement, so if your attorney valued your claim at $237,000, you can expect an advance of about $23,000 to $24,000.
Most personal injury plaintiffs find themselves in a financial bind because of their injuries, related medical costs, and inability to work. You will not be asked to pay any fees up-front with settlement loans, and there are no out-of-pocket expenses to make a bad financial situation worse. Repaying the loan is simple; you repay the litigation funding company only when your lawsuit has been won, and you have your money. Any interest and/or fees which apply will be paid at that time as well. If for any reason you fail to win your lawsuit, you will not repay the funding company, as settlement loans are no-recourse.
Settlement loans make it possible for those involved in personal injury lawsuits to get the money they desperately need quickly, without putting themselves at financial risk. If you are the plaintiff in an injury lawsuit, speak with your attorney about this type of funding to learn if it may be a suitable option for you.
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