Frequently Asked Questions About Lawsuit Funding
What cases are eligible for lawsuit funding?
Almost any case of personal injury for which you have hired an attorney is eligible for a type of lawsuit funding. We have funded a wide variety of cases including class action, civil rights, product liability, motor vehicle injury, nursing home malpractice, and more. For pre settlement funding, you will need to provide more detailed information than for post settlement funding.
Is lawsuit funding a loan?
Though lawsuit funding is sometimes referred to as a lawsuit loan, this type of financial transaction is not a loan in the traditional sense. With a loan, you are responsible for payment regardless of your situation. Legal funding allows you to borrow against your settlement safely. If your case is lost, you do not need to pay the money back.
What upfront fees are associated with lawsuit funding?
There are no upfront costs or fees for the plaintiff with lawsuit funding. Payments are not due until after the case is settled and your settlement payment has been received.
Is lawsuit funding costly?
Repayment of your lawsuit loan can be an expensive prospect. Therefore, this shouldn’t be your first plan of action. Banks and credit cards are more cost effective sources for loans when you’re in need of money. We encourage you to turn to lawsuit lending as a last resort in times of need.
How can I determine my eligibility?
If you’re ready to start the application process for a lawsuit loan, you can fill out our online application, or begin the process by phone. Just call 1-800-577-6115 for more information or to get started.
How long is the application process?
Most cases are reviewed within 24 to 48 hours after the case information has been received.
How can I use my lawsuit loan funds?
The funds provided to you through a lawsuit loans are your own personal money that can be used however you like. You can use these funds to further your case, pay for legal fees, or deal with your own personal expenses.
What happens to my funds if I don’t receive a settlement?
If you do not receive your settlement because you lost your case or lost to an appeal, you are under no obligation to pay your loan back. The money is yours to keep.
Are lawsuit loans available for workers compensation cases?
In some states, funding is available for both workers compensation cases against an employer and workers compensation cases against a third party. The process for obtaining this funding is different from that which is used for traditional lawsuit loans. You can get more information and begin the application process by calling 1-800-577-6115. This service is not available in all states.
Can I obtain lawsuit loans from multiple lenders?
You may be able to qualify for a loan from us in addition to other loans you have already received, depending upon the circumstances of your individual case.
How is my information protected?
All information that is provided to us regarding your case is kept 100% confidential. Case information is only used for the purposes of evaluating your funding eligibility and making financial recommendations. Information will only be disclosed under a subpoena, court order, or the direction of the client or attorney.
How much can I get in my lawsuit loan?
Lawsuit loans are available for a minimum of $500. Maximum loans have been provided in excess of $1,000,000. The amount you receive will be based upon the details of your case.
How are you involved in my case?
As your lending company, we are not involved in the legal proceedings of your case in any way. This is controlled by your attorney.
Do you offer legal advice?
We do not offer any kind of legal advice for your case. You must have an attorney to obtain a lawsuit loan. All legal questions pertaining to your case should be directed to your attorney.
Are lawsuit loans legal?
The lawsuit loans that we provide are completely legal, and are executed with the approval and cooperation of your attorney. The funding that we provide does not fall into the parameters of traditional loans because we do not receive payment if your case is lost.