While you’re waiting for the resolution to your lawsuit, you’re still paying out of pocket for medical bills and other expenses, and hoping that you’ll soon be reimbursed. It’s a waiting game at this point, while you wait to receive payment from the defendant or insurance company.
The problem is that, between the time it takes to settle your lawsuit and get paid, your checking account is being eaten away by the expenses you need to survive, like food and rent. What will you do if your child gets sick or if your car breaks down and has to be repaired? You never know when an unplanned expense can have an impact on your finances.
That is where Money First Funding comes in. Our pre-settlement funding is designed to help bridge the financial gap until your settlement is reached, leaving you worry-free about finances and able to focus on your recovery.
Fast Facts About Getting a Lawsuit Loan
A lawsuit loan is a loan that’s made against the expected proceeds of your lawsuit. That means you’ll receive a loan now for a certain amount, depending on the value of your claim. This money can be used for any needs you have during your lawsuit. Then, once your case is over, you’ll pay back that loan from the compensation you receive in court.
With this type of loan, you don’t have to win your case. You don’t have to prove anything. As the lender, we are simply assuming that you will win your case and we will be repaid once you are paid out from the settlement or verdict.
There are no lawsuit loans without an attorney’s signature, so you will need to consult your lawyer about getting this financing. If your lawyer believes your case has merit, they should be prepared to help you get the funds you need in the meantime.
A lawsuit loan is a personal loan that can be used to pay for your expenses and fees. They have many advantages that most people are not aware of. For example, we offer the following benefits:
- No credit checks
- No checks on your employment status
- No repayment until your case settles
It’s a myth that lawsuit loan interest rates are always high. Your rate will depend on current market conditions at the time of your application and other factors we can discuss with you during a consultation.
You can rest easy when dealing with us because we are among the top lawsuit loan companies with a compassionate, prompt customer service team. We know dealing with a lawsuit is a difficult situation, and our team is here to make the process easier for you.
How Lawsuits Loans May Result in Higher Financial Awards
Pre-settlement funding may lead to you receiving more financial compensation. Lawsuits are either settled out of court or go to trial. Sometimes, insurance companies or defendants will offer plaintiffs a quick settlement as long as they promise not to sue in court.
The key is that you must promise not to sue them. This is the reason why you should not accept the first settlement offer in a lawsuit. While it may seem like an advantage to avoid a drawn-out lawsuit in court, it may only benefit the insurance company that’s offering a settlement.
The insurance company or entity that you are suing is not going to offer you a large financial settlement up-front that covers the full value of your claim unless they know you have a good case against them. They want one of the following:
- To settle with you because they don’t think the judge will side with them
- To avoid airing their dirty laundry in public if your case goes to trial or arbitration
- To avoid spending more money on legal fees and court costs than they have to
They know courts often side with plaintiffs over corporations, so they’d rather settle out of court than risk losing everything. If they can avoid paying more for your settlement, they may make an offer that seems friendly, but leaves you without the funds you need.
Lawsuit funding allows you to be more patient throughout the litigation process because your bills will be paid. This gives your lawyer more time to fight to get the maximum financial award for you no matter who you are suing.
Types of Cases That May Need Funding
Pre-settlement funding is a good option for many types of cases. But how do you know you have the right case type for funding?
If you’re worried your case isn’t eligible for a loan, seek out answers with our team. We can discuss your case and help you get answers. In the meantime, we offer a breakdown of some of the lawsuit types you may be facing. Here’s a sample of common claim types that a lawsuit loan can help you fund, getting the financial support you need during this difficult time.
Lawsuit Loan for Personal Injury Claims
If you’re going through a personal injury lawsuit and need cash to pay your bills while you wait for your settlement, a lawsuit loan may be the answer.
Often, people going through a personal injury don’t qualify for any other type of loan. If you want to borrow money from a bank or other financial institution, you’re going to need good credit. Banks use your credit score as an indicator of how likely it is you’ll repay the loan. If your score isn’t high enough, they aren’t going to be interested in lending to you.
Even if you have good credit, it’s not always easy to find someone willing to lend you money when you are injured, stuck in the hospital, and need it the most.
When applying for a traditional loan, lenders often require collateral such as real estate or stocks. They may expect you to show proof of your income before they approve your application and make any kind of commitment on your behalf.
Even if they do decide to lend you money, they will likely want proof that you can repay them within a reasonable amount of time, often within twelve months or less. If your financial situation is more complex because you’re injured, involved in a lawsuit, or cannot work, pre-settlement funding provides a welcome solution.
Lawsuit Loan for Medical Malpractice Lawsuits
If a healthcare professional made an error that caused harm to you or someone you love, a medical malpractice lawsuit may be in order.
Sometimes, these types of lawsuits result in significant settlement amounts. Even so, you need to be patient through the recovery process because negotiations can be lengthy. If your case goes to trial, the court process can take months or even years.
The good news is that pre-settlement funding companies can buy you the time you need to be patient. While the process is ongoing, pre-settlement funding can be used to pay mounting medical bills, keep creditors at bay and ensure you don’t have to go without the necessities of life.
There are many reasons why a lawsuit loan may be a good solution for you if you’re going through a medical malpractice lawsuit:
- You want to know that your family has financial security while you’re incapacitated
- You want to protect your assets so that they don’t have to be used during this time
- You want to be able to pay your bills while dealing with medical and legal issues related to your injury
Importantly, pre-settlement funding negates the need for you to drain your retirement fund to pay hospital bills and therefore protects the equity you’ve spent a lifetime building.
Lawsuit Loan for Wrongful Death Claims
Families are incredibly vulnerable during a wrongful death lawsuit, especially if the loved one who died was the main breadwinner. These funds can bridge the financial gap between the date of your loved one’s passing and the date of your settlement award.
That’s vital when you’re paying for end-of-life expenses. In the event of sudden death, your family member may not have had the chance to save up for certain expenses. That leaves you with the costs of your everyday expenses as well as funeral costs, burial expenses, and end-of-life medical care bills.
Your loved one’s death may have been someone else’s fault, but that doesn’t give you a break from covering these expenses. Worse, they may have been the sole breadwinner, leaving you with no income for your household. Your lawsuit loan should help you cover these costs while you’re juggling the lawsuit, job hunting, and facing the grief and loss you’ve suffered.
When a loved one dies because of someone else’s negligence, you’re facing a devastating loss as well as an unrelenting series of expenses. Your loan can lighten that burden so you can focus on your future.
Lawsuit Loan for Product Liability Cases
If you purchased something new and it later turned out defective or dangerous, then that product’s manufacturer may be held liable. Manufacturers may be at fault if they knowingly released a hazardous product without warning consumers beforehand about its potential dangers or removing the danger.
Large corporations often pay out billions of dollars in product liability lawsuits. Some companies have paid millions of dollars or more due to serious injuries, medication defects, or faulty medical equipment. You shouldn’t have to worry about severe injury or conditions like cancer when you use a product or take medication.
If you are hurt by a defective product, you deserve to file a claim and litigate, if necessary. And if you want to pursue a product liability claim, know that this type of litigation qualifies for a lawsuit cash advance as well. You don’t have to approach your case without financial support during this difficult time.
Product liability cases can be complicated, especially if multiple parties are suing the defendant. The plaintiffs may be required to prove negligence on the part of all defendants and show that they were responsible for the injuries suffered. Gathering evidence, coordinating with other parties, and presenting your case can all be complex steps.
As a plaintiff, you should be able to rest assured that your lawsuit will provide the financial recovery you need when you’re hurt by a product. Unfortunately, your case can take years to resolve, so financial assistance may be vital. Lawsuit loans can help you get your bills paid while awaiting the outcome.
Reach Out for a Lawsuit Loan
A lawsuit loan will get you your money much faster and with less hassle than trying to borrow the money from your family, a bank, or another traditional lender. Plus, our loans rely on future proceeds from your case. You won’t pay us a dime until after your case is over. Because of this, no valuable asset is needed as collateral.
Qualifying for pre-settlement funding may be much easier than you think. Call Money First Funding at 702-623-3333 and find out how you could qualify for a lawsuit loan regardless of your credit history. You’ll improve your odds of winning your case and sleep easier at night knowing the bills are paid.