Lawsuit loans are loans issued to plaintiffs expecting a cash reward or settlement in a suit.
How Do You Qualify for a Lawsuit Loan?
The main determining factor in getting a lawsuit loan or legal funding is the strength of the case. You don’t need to have good credit. In fact, (at Interstate lawsuit Funding) there is no credit check at all. The plaintiff, you, the client doesn’t actually repay the loan at all. The loan is repaid by the representative attorney after the case is settled.
What Do You Do First?
The first thing you do before you call us for a lawsuit loan is get an attorney. If you have an attorney and he or she takes your case on a contingent basis, then you can call us or fill out our Simple 30-Second Application. We only need some very basic information from you such as, your name, your phone number, the nature of your case and your lawyer’s contact information.
How Much Money Can I Get in Advance Of My Settlement?
Our typical amount to lend in a lawsuit loan is between $500 and $2000. However, there are instances where we lend up to $5000. The amount of money you can get is largely based upon the merits of your case and how much money you need. Because there is no guarantee you will win your case or a sufficient settlement, we take all the risk.
How Can I Spend The Money I Get With A Lawsuit Loan?
The money you get in a lawsuit loan is yours to spend any way you wish. If you’re out of work and you need money to pay bills, use it for bills. If you want to take a vacation, fix your car or buy a new TV, you can do any of those things too. It’s your money to use any way you wish.
What if I Run Out of Money and I Need More?
Lawsuits almost always take more time to settle than everyone expected. That’s one of the reasons people end up needing the loan in the first place. But if you run out of money before your case settles and you need more, contact us again and we can review the situation with you and your lawyer. We will certainly try to find a way to help you.
My Lawyer Does Not Recommend A Lawsuit Loan. What Should I Do?
Only you know for sure how much you want to tap into your money in advance of the settlement. Your lawyer can give you advice but he or she is working for you. Not the other way around. If you need the money or you want the money, it’s up to you, no one else.
What Happens if I Lose My Case?
If you lose your case (and it does happen), you keep the money we sent you. We only get paid if you win. That’s why we call it a No-Risk Loan. You, the client, the plaintiff takes no risk. In a sense, taking a small lawsuit loan of $500-$1000 is like insurance. for example, of you’re expecting a $25,000 settlement and you lose your case, the $1000 pre-settlement loan we sent you is yours to keep. You paid nothing and you get to keep the $1000. It’s kind of a no-brainer.
The Lawsuit Funding Loan Summary:
A lawsuit loan is a no-risk way for a plaintiff to access money in a pending lawsuit. If the suit wins or there’s a good settlement, the lender gets paid back the principal with interest and then money comes directly from the attorney and the plaintiff gets the balance of whatever is left of the settlement after expenses. If the lawsuit loses, the plaintiff keeps the lawsuit loan cash. So if a case loses, the plaintiff still wins.
Are you in a lawsuit and expecting a cash settlement? Get cash now, in advance of your settlement. If the case loses, you still win- You keep the money.