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FINANCE YOUR LAW FIRM

WHAT YOU NEED TO KNOW TO GET A LAW FIRM LOAN

For the academic year 2019 to 2020, the average annual cost of private law school was a staggering $49,548. That’s the bare midpoint cost per year, and law school takes at least three or four years to complete. That means law students pay a minimum of $150,000 to $200,000 to get their education.Most studends have to at least consider How to Get a Law Firm Loan

These education expenses don’t end with law school, though, as there’s higher ed to think about too. Many

IT COST A SMALL FORTUNE TO BECOME A LAWYER

IT COST A SMALL FORTUNE TO BECOME AN ATTORNEY

graduates have to take law specialization courses as well.

So, it’s no wonder that law firm loans have become the norm for startup practitioners. Without legal funding, it would be close to impossible to launch a new legal practice.

Ready to begin your legal funding application? Then be sure to read this guide first!

 

1. A LAW FIRM LOAN Loan Can Help Your Startup Succeed

If you’re thinking of starting your own law firm, a business loan can help you succeed. A study found that loan-backed businesses had twice the revenue. That’s in comparison with companies without any form of credit at all.

 

2. Traditional Lenders Want to Know What You Need the Loan For

Do you need the funds to cover monthly office expenses, such as rent, utilities, and research? Perhaps you need funding for filing fees, insurance, payroll, or other operating costs. You may even need TO GET A LAW FIRM LOAN  to cover the advances and deposit for the actual office itself.

It’s crucial to make a list of all these expenses as traditional lenders will ask you what you need the loan for. For instance, many banks will want to know if the money you’ll borrow will go toward rent or equipment costs. The Small Business Administration (SBA) has even more stringent requirements.

If you don’t want to go through all these, non-recourse solo attorney case loans are your better option. These come with more relaxed lending standards, and you can use the funds for whatever you need. You can even use the cash to cover your law firm’s advertising and marketing expenses.

CREDIT HISTORY MATTERS

CREDIT HISTORY MATTERS – SORRY

3. Most Lenders Would Review Your Credit Score

In the US, almost one in five young people (18 to 22 years old) don’t have a credit report. Those who do (such as those who already use credit cards) have an average credit score of 672. By Experian standards, that’s below what classifies as a “good score.”

If the same goes for you, you’re likely to have a hard time qualifying for a bank-issued business loan. Credit scores, after all, are one of the most crucial factors to be eligible for traditional loans. If you don’t have a credit score of at least 700, most business lenders will say no to your application.

This isn’t the case with law firm financing programs from legal funding lenders. They’re not like usual business loans, as they don’t require an in-depth look at your credit history. Instead, they will base your qualification on the merits of your pending cases.

4. Business Bank Lenders Also Look at Cash Flow

When reviewing applications for small law firm loans, most lenders look at cash flow too. This is a measurement of the amount of expendable cash that a borrower has. It has to be dispensable, as traditional lending firms will consider this as a way to pay back what you owe them.

These lenders often don’t grant business loans for law firms if the borrower has too little cash on hand. Unfortunately, most lawyers who want to start their own firm fit this bill. For many, a lack of cash flow is the reason they need to take out a loan in the first place.

Non-recourse legal funding for attorneys and law firms won’t require this from you. They understand that many attorneys are still paying back their law school loans. After all, as many as six in 10 student debt borrowers say they’ll be in their 40s by the time they pay off all their debts.

Instead, legal funding firms will only have to verify the success potential of your cases. If the lender sees that your claim has a strong possibility of winning, you’re likely to get the funds you need.

5. How You Get Paid Matters to Most Lenders – but not so for law firm loans

Many lenders may also be unwilling to extend credit to contingency-fee lawyers. In such cases, litigators who act for plaintiffs often don’t get paid for weeks and even months. At the very least, personal injury settlement checks can take up to six weeks to release.

Some cases, such as wrongful incarceration, can even take several years to settle.

It’s because of this payment structure that most lenders shy away from such attorneys. There are too many variables in contingency fee-based cases, all of which are too risky for banks.

As such, if your firm focuses on personal injury, consider cash funding on litigation. Lenders that specialize in legal funding make decisions based on the laws itself. It won’t matter if your cases will take months to settle; what matters if it has a high likelihood of

HOW DO YOU GET PAID?

HOW DO YOU GET PAID?

success.

6. How Soon Do You Need the Funds?

The current health situation has led to numerous delays in the justice system. Many courts, including the Supreme Court, even went on a temporary closure. For guilty defendants, this is great news, but terrible for attorneys and plaintiffs.

If the backbone of the justice system itself had to close, then you can expect lenders to have been the first to do that. They continue to operate, yes, but they do so with a skeletal workforce. As a result, it can take even much longer to process business loan applications.

The thing is, most lawyers and plaintiffs cannot afford to wait for an uncertain period of time. Mortgages, rent, utilities, and basic needs won’t stop just because of the lockdown.

This is where the quick turnaround time of litigation funding firms come into play. Lawsuit Cash 911, for instance, issues non-recourse loans within 24 to 48 hours. The team will process your application right away, and if you qualify, you’ll get the funds in just one or two days.

7. How Do You Plan to Pay Back the Loan?

When comparing your law firm financing options, consider their repayment structure. As with most traditional loans, these come with monthly interest rates. With such funding programs, you’d need to repay the lender every single month.

Even a single delayed payment of these loans can already damage your credit score. If you took out a secured loan, failure to pay it back would lead to the loss of the collateral. The secured loan lender will take possession of the security as a means to recoup your unpaid loan.

This can have a devastating impact on your law firm, especially if you used essential assets. You risk losing much of what you’ve invested in your practice due to the non-payment of secured loans.

If you fail to repay a non-secured bank loan, then your entire financial future will suffer. Your credit score will drop, and you’ll have a hard time applying for other loans.

If you’d rather not risk any of your assets, then custom solo attorney loans may be better suited for you. You’d only need to pay back a non-recourse litigation funding program if you win the case. If not, the lender won’t pursue you for repayment.

8. Factor In When You Need to Repay the Lender

As mentioned above, most traditional loans require monthly payments. Specialized litigation funding, on the other hand, usually only have a one-time repayment. You’d only need to pay back the latter if and when you win the lawsuit for your client.

A LINE OF CREDIT MATTERS

A LINE OF CREDIT MATTERS

9. The Need for Continuous Access to Financial Resources

Since most lawsuits take months to years, it’s best to have access to continuous funding. A line of credit account custom-designed for your law firm is one of your best options. With this, you’d always have resources to tap for any ongoing expenses.

10. Law Cash 911 Only Need Three Basic Requirements

Law Cash 911 provides attorney practice loans and tailored loans for law firms. These litigation funding programs are non-recourse and act more as a cash advance than a loan. Meaning, you don’t have to worry about monthly repayments or paying back the debt at all if your case doesn’t win.

Law Cash 911 will not base your eligibility on credit history, cash flow, or outstanding debts. There are only three primary factors you’d need to qualify for legal funding.

First, the active lawsuits that you’re handling should have established merit. The defendant of these cases should also have a strong financial foothold. They should be capable of paying the settlements or have adequate insurance.

The third factor is the amount of damages that you and your client is suing for. The more significant this is, the higher the likelihood of legal funding qualification.

Raise Your Law Firm’s Chances of Success With the Best Law Firm Loans Now

As you can see, there are a lot of factors that traditional lenders of law firm loans take into account. If you don’t meet even just one of these, especially credit score, you’re unlikely to get a yes from them. Law Cash 911 won’t put you through the same hoops and stringent

CLICK TO APPLY FOR A LAW FIRM LOAN

CLICK TO APPLY FOR A LAW FIRM LOAN NOW

loan application process.

If you need funding for your law firm as soon as possible, we are ready to help. Apply for your attorney and law firm funding loan with us, and we can get you the funds you need in as little as 24 hours.

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CORVID-19 IS HERE TO STAY

HOW YOU CAN GET PRE SETTLEMENT LAWSUIT FUNDING DURING COVID-19

WHAT IS CORONA VIRUS?

WHAT IS CORONA VIRUS?

Each year, three million people in the US sustain non-fatal injuries due to road accidents. Worse, these crashes cost the lives of thousands, many of which are wrongful death cases.Thus the need for Pre Settlement Lawsuit Funding During COVID-19

Millions of US workplace injuries also occur each year. In 2018, for instance, some 2.8 million workers suffered from job injuries and illnesses. In many of these cases, someone else was negligent enough to have caused the work accident.

Settlements for such claims already take many weeks and even months. Unfortunately, the COVID-19 pandemic has made things worse.

There’s still some good news, though. Pre-settlement lawsuit funding can provide financial aid as settlements get delayed.

If you’re wondering what this type of funding is and how it works, this post is for you. Keep reading to learn how these cash advances on lawsuit settlements work.

How the COVID-19 Pandemic Affects the Justice System

Since the pandemic has erupted, thousands of businesses have closed. Many of them have even shut down for good, filing for bankruptcy. These have contributed to at least 40 million Americans losing their jobs.

That’s how disruptive COVID-19 has been to Americans. As if that’s not bad enough, the virus has also sunk its claws in the US justice system.

The Supreme Court Building itself has shut its doors to the public until further notice. It continues to operate but has postponed numerous activities such as proceedings.Maybe you can use Pre Settlement Lawsuit Funding During COVID-19

Many state and local courts have also canceled hearings due to the virus. Others, like Arizona, have suspended local court rules. Some jurisdictions have also allowed older litigants to excuse themselves from court activities.

Seeing as how deadly the Coronavirus is, all these suspensions are no doubt crucial. However, these will also further exacerbate the case backlog of all US courts.

Court Backlogs Mean Delayed Lawsuit Conclusions

Since many courts have had to close temporarily, existing litigations have to wait. There’s no telling how long this waiting game will be. It could be months from now, what with potential vaccines still undergoing tests.

Unfortunately, crimes, injustices, and injuries still occur every single day. The pandemic has even spurred more of these crimes, as it left people gripped by fear. The more of these criminal acts occur, the more massive the court backlogs will become.

Domestic Violence – Pre Settlement Lawsuit Funding During COVID-19

Depression Can Cause Violence in Otherwise Normal People

Depression Can Cause Violence in Otherwise Normal People

Domestic violence is one example of crimes that have spiked since the pandemic. One report found that these incidents have increased by 10% to 30% in many areas around the US. This may have to do with most people forced to stay at home.

Domestic violence and sexual abuse have always been huge problems in the US, though. If you have an ongoing lawsuit, you may qualify for an assault or battery lawsuit cash advance. If you don’t have one yet, speak to an attorney right away so they can help you start the process ASAP.

Racial Injustice

Amidst the deaths caused by COVID-19 are the unjust killings of Black Americans. There’s George Floyd’s case, which is one of the most recent instances of police brutality. Mr. Floyd’s death, captured in videos, was so horrifying that it led to protests all over the world.

Way before the pandemic, Black Americans have been in the center of racial inequality. They are 2.5 times as likely to die a wrongful death in the hands of police than white Americans..Pre Settlement Lawsuit Funding During COVID-19

Black Americans are also more prone to wrongful convictions and malicious prosecution. From false arrests to false imprisonment, they’ve taken the brunt of it all.

Floyd’s death is one of the many stark reminders of how the police can easily abuse their authority. However, even with heightened scrutiny, some of them have continued to commit brutality. In a single week back in June 2020, for instance, videos have captured nine separate cases of such.

If you have a case in court for police brutality or false arrest, you may qualify for a lawsuit cash advance. The same goes for wrongful imprisonment or injury due to excessive use of police force.

Employment Discrimination

Adding to the list of racial injustice is the unfair impact of the virus on Black Americans. It has been so unjust that come August 1, COVID tests will start requiring race and ethnicity data.

Supporters of Black Lives Matter have even become victims of employment discrimination. In one case, for instance, an employee claimed that she got fired for wearing BLM masks. The employer is now facing litigation for wrongful termination.

Aside from BLM-related cases, there’s also discrimination amongst people of Asian descent. While the novel virus may have come from China, it’s not the “China virus,” nor is it the “Chinese virus.” Unfortunately, such terms have made Asian Americans the subject of racial slurs.

If you haven’t filed a lawsuit for these discriminatory acts against you, now’s the best time to. Remember: the courts are already suffering from massive backlogs. If you postpone suing the perpetrators, then it will take much longer for your case to conclude.

If you already have an ongoing discrimination lawsuit, however, you can get a cash advance. In doing so, you don’t have to wait for the courts to reopen just to get the financial aid you need now.

Clergy Abuse

CLERGY ABUSE CAN HAPPEN TO ANYONE

CLERGY ABUSE CAN HAPPEN TO ANYONE

Since the 1950s, clergy sexual abuse of children alone has cost the US Roman Catholic Church $2.6 billion. This amount doesn’t even include those relating to sexual crimes involving adults. Unfortunately, studies suggest that such crimes have a prevalence rate of up to 15%.

Fast forward to 2019, and things got even worse, with the Church facing a flurry of at least 5,000 more lawsuits.

All these prove just how prevalent sexual molestation is in today’s society. What’s even scarier is that many of the perpetrators are the same people who preach morality.

Worse, it can take months to prove the crimes committed by a figure as powerful as the Church. There’s even one victim who had to wait half a century before the law allowed him to sue the Church.

If you have an active clergy sexual abuse lawsuit, you don’t have to wait for the courts to reopen. You don’t need to wait for who knows how long to receive the compensation you deserve. So long as you have an open court file and you have a lawyer handling it, you may qualify for a lawsuit cash advance.

Unlawful Sexual Activity and Sex Abuse – Pre Settlement Lawsuit Funding During COVID-19

Jeffrey Epstein’s case is just one of the many instances of sexual molestation in the US. What’s even worse is that it’s one of the many sexual-related crimes that go unpunished. The sex offender, had, after all, committed suicide before he could pay for his sins.

Sexual-reported crimes have always been such a common tragedy in the US. Reports show that 20 people in the country get abused by their intimate partner every minute. That’s 1,200 abused individuals in an hour, 28,800 in one day, and over 10.5 million in a year.

Unfortunately, it’s more than likely that these figures are conservative estimates. After all, many victims choose not to tell anyone about the pain and suffering they go through.

If you are one of these victims, please know that help is available. You don’t have to suffer in silence, nor should you feel alone or ashamed. The Department of Justice has a complete list of organizations that can assist you.

It is also your every right to file a lawsuit against the person violating your rights. If you haven’t yet, now is the time to speak to a sexual abuse or assault lawyer. This can help put a stop to that person’s criminal and very demeaning acts.

Once you have an active lawsuit, you may already qualify for pre-settlement funding. You can then use the money you receive to start your journey to recovery.

WASH YOUR HANDS - PLEASE

WASH YOUR HANDS – PLEASE

What Is and How Pre-Settlement Lawsuit Funding Can Help

Aside from the above, many other types of cases can qualify for pre-settlement funding. These include active workers’ compensation cases and motor vehicle accident lawsuits. What’s most important is that the case is open and that a lawyer handles them.

If you meet these two factors, then you may be able to “borrow” against your expected settlement. It’s because of this that some call lawsuit cash advances as “pre-settlement loans.”

The big difference between cash advances and loans is that you don’t always have to pay back the former. If you end up not winning your case as the plaintiff, you won’t have to repay the cash advance.

Also, unlike standard loans, such as those that you get from a bank, your credit score won’t be a factor. Even if you have a poor FICO score, for example, you can still qualify for a pre-settlement advance.

Litigation funding specialists understand how difficult the situation can be for plaintiffs. Especially during these days wherein the pandemic rages on. That’s why they have more relaxed “lending” rules for victims who need financial aid.

Once you receive your cash advance, you can use it for any legal purpose that you see fit. You can spend it on groceries, rent, mortgage, medication, or utilities.

Speaking of receiving the funds, if you qualify, you can expect the cash to get to you in as little as 24 to 48 hours. That’s how fast litigation funding firms work to assist victims and lawsuit plaintiffs.

Get the Funds You Need Now to Start Recovering Your Losses

As you can see, injuries, accidents, and discrimination still occur despite the pandemic. However, the Corona virus has made it a lot more difficult to achieve prompt justice.Thus the need for Pre Settlement Lawsuit Funding During COVID-19

So, if you have an active court case, consider pre-settlement lawsuit funding. This way, you can get access to financial resources without waiting for the courts to reopen.

If you’re ready to apply for a lawsuit cash advance, we here at Law Cash 911 can provide you what you need. Please get

CLICK TO APPLY FOR A SETTLEMENT LOAN NOW

CLICK TO APPLY FOR A SETTLEMENT LOAN NOW

in touch with us now so we can review your case ASAP.

 

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SAME DAY LAWSUIT LOANS ARE AVAILABLE

SAME DAY LAWSUIT LOANS

SAME DAY LAWSUIT LOANS

        In a single year, over $3 billion gets paid out in medical malpractice settlement payouts. That averages about one payment every 43 minutes. Each of the recipients of these payouts went through the lawsuit and settlement process.This process can take several months and even years. In the meantime, the victim may not be able to work and therefore have no income. This can make paying the bills challenging. Same day lawsuit loans can make going through the legal process much more manageable. If you’re currently pursuing a personal injury claim, keep reading and learn how this special type of lawsuit loan can help you.

How Do Same Day Lawsuit Loans Work

24 hour lawsuit loans proceed in the same as other loans in that you’ll need to apply -, then get approved by the lender,- receive your money, and then at some point,repay the loan. There are some significant differences in the details of the procedure, though..

HAVE THE RIGHT TYPE OF CASE

You need to have the right type of case that the lender is willing to fund. These are generally personal injury types of cases, but they can vary from lender to lender. Here are some common types of cases, but this is not an exhaustive list.

GOOD LAWSUITS

GOOD LAWSUITS ARE GOOD

   It’s best to speak directly with the lender to find out if they fund your type of claim. These types of cases tend to settle for a specific dollar amount before ever getting to the trial phase. About 95-96% of personal injury cases settle in the pretrial stage.

HAVE AN ACTIVE AND MERITORIOUS LAWSUIT

You can apply for same day lawsuit loans at any point during your case. The one requirement is that you have a case. So you can’t apply for your loan before you file your claim.

The further along in your case you are, the more solidified your claim will be. This makes it more likely you will get approved. The lender will be able to estimate your settlement award more accurately.

The earlier in your case you take out the loan, the longer you’ll have to pay interest on it. Ask the lender about caps to ensure your fees don’t compound to larger than you expect. It can be unpredictable how long your lawsuit will take; you need security on how much you’ll ultimately be liable for.

HAVE AN ATTORNEY RETAINED ON A CONTINGENCY BASIS

You cannot represent yourself and qualify for a settlement loan. The lender wants to ensure you have the best possible odds of winning your case. This means hiring qualified legal representation.

Think of it as the lender wants to protect their investment. The company you finance a car purchase through insists that you have full coverage on the car to protect their loan proceeds. Requiring you to hire a lawyer for your lawsuit is a similar type of protection.

LIABILITY IS BAD

LIABILITY IS BAD

LIABILITY MUST REST WITH THE DEFENDANT

You need to be the victim in the lawsuit. You can be the primary one responsible or the one liable for the damages

.

WHAT YOU DON’T NEED FOR SAME DAY LAWSUIT LOANS

Because the lender is letting you borrow money against your settlement award, they aren’t concerned with your credit score, credit history, monthly income, or assets. You don’t need to make monthly payments like you would a traditional loan, so these factors don’t influence the approval decision.

CHOOSE THE CORRECT LENDER

There are plenty of reputable companies that you can work with to borrow money from. But there are also several not so reputable companies out there. These companies operate more like loan sharks and look to take advantage of people in tough financial situations.

Carefully research any company before you decide to work with them. Look at their online reviews and learn what other people experienced when they borrowed from the lender.

Ask the lender what their policies are for interest and fees. Ask how they calculate interest. Find out if it’s compounding as this can increase your costs quickly.

Find out how fast you can expect the money after approval and completion of the loan paperwork. If you need the money right away, you don’t want to have to wait for a check in the mail that could take up to two weeks to get to you.

Finally, ask the lender if there is a cap and what it is the total amount that you could owe. This will help you plan and budget for repayment.

CONSULT YOUR ATTORNEY

CONTACT YOUR ATTORNEY

CONTACT YOUR ATTORNEY FIRST

If you’ve hired an experienced attorney, chances are they’ll have had clients who’ve used lawsuit loans. They can help advise you on lenders that may be more predatory to avoid.

Your attorney can also review the loan contract terms with you before you sign it. This will ensure you don’t agree to a predatory contract without realizing it.

FILL OUT AN APPLICATION

Once you know that you meet all of the requirements, you can fill out an application. Make sure the information is complete and accurate; otherwise, you risk delaying the lender’s response.

REQUEST AN APPROPRIATE AMOUNT

Don’t expect to get approved for the full amount of money you expect to get in your settlement. You also shouldn’t expect to get the average settlement amount, though the statistical averages can help you estimate your expected settlement total.

Different types of personal injury awards can vary greatly. Personal negligence awards average $1,146,473, while product liability awards average $5,076,430.

Take into consideration that your attorney works on a contingency fee. This averages about 30% of your award. Then if you have medical bills, the medical provider can place a lien on your award for up to 30%.

This leaves 30% of your award value that the lender can use to lend against.

MULTIPLE LOANS

You can take out multiple lawsuit loans against your settlement. But keep in mind that the overall limit is still limited

MULTIPLE LOANS ARE OK

MULTIPLE LOANS ARE OK

to the available portion of your settlement.

SAME DAY LAWSUIT LOANS APPROVAL AND PAYMENT

Once approved, you’ll need to sign some documentation where you agree to the loan and the terms of repayment. Then you’ll need to set up with the lender how you’ll receive your funds. Most lenders can wire the money directly into your bank account or mail you a check.

HOW DO YOU REPAY?

Unlike traditional personal loans or other financial lending tools, you don’t have to begin repayment immediately. The loan becomes due when your lawsuit settles. The defendant will make the payment, and the funds will get dispersed.

This will make repayment easy as your attorney can handle the repayment of the loan for you. That way, you’re not tempted to spend the money instead of repaying your loan.

BENEFITS OF SAME DAY LAWSUIT LOANS

The most significant benefit of quick lawsuit loans is the immediate injection of cash. A personal injury lawsuit can take several months or even years to go through the judicial process. In the meantime, you may not be able to work.

MEET FINANCIAL OBLIGATIONS

Without the help of lawsuit funding, you may not have the ability to pay your financial obligations, even buy groceries. Your other creditors won’t wait for your lawsuit to settle to obtain their money owed.

Your settlement loan can prevent your car from getting repossessed, your home getting foreclosed on, and defaulting on personal loans. It can also allow you to maintain your life by paying for daily expenses such as groceries or gas.

STRONGER SETTLEMENT POSITION

Once you know your bills will get paid, you can breathe easier and feel less pressure to finish the lawsuit. The other party in these types of lawsuits is typically an insurance company. They have substantial financial backing and know

NON RECOURSE

NON RECOURSE

that you probably don’t.

A common strategy is to wait you out until you become financially strapped and willing to settle. Then they’ll offer you a low ball offer that you feel pressured to accept. A settlement loan prevents all of this.

IT’S A NON RECOURSE LOAN

If for some reason you don’t win your case, you won’t have to repay your loan. This is called a non-recourse loan.

You can take out the loan risk-free knowing that if your lawsuit doesn’t end in your favor, you won’t be on the hook for the money.

APPLY FOR YOUR SAME DAY LAWSUIT LOAN

Same day lawsuit loans give you the financial freedom you need to pursue your claim. Don’t lose your stronghold because of the stress of money getting tight. A lawsuit loan can give you the financial backing you need to focus on pursuing your claim properly.

Contact a lender today and discuss with them how much you could qualify for. Then fill out the application, get

CLICK TO APPLY FOR A SETTLEMENT LOAN NOW

CLICK TO APPLY FOR A SETTLEMENT LOAN NOW

approved, and receive your same day funding.

Check that we fund your type of case and apply for your loan today.

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SETTLEMENT LOANS

         Could you afford a sudden emergency expense? What if it was more than $400? or $2,000?. Nearly 40% of Americans can’t afford a surprise expense that large. So what do you do when someone else injures you, and you’re facing sudden expenses that total – Settlement Loans mat help.

NEED A LOAN

DO YOU NEED SOME HELP?in the thousands? (a settlement loan can help)

Your first step is filing a lawsuit against the person who caused the injury and their insurance company. But pursuing a lawsuit is a long, expensive, and arduous task. In the meantime, your bills continue to grow.

Pre settlement loans can help you meet your financial responsibilities while you wait for your litigation to proceed through the system.

WHAT IS A SETTLEMENT LOAN?

When you file a lawsuit against another party, your case doesn’t go straight to trial. Before this step, the legal system allows you and the other party to settle. About 97% of civil cases get settled and never see the inside of a courtroom.

But even the settlement process can take months. A settlement loan can help you pay bills and living expenses while you wait for your settlement completion.

The most common cases that require settlement funding are personal injury claims. The cases that qualify for a settlement loan include a wide range of lawsuits that include but aren’t limited to:

If you’re unsure if your case qualifies, the best course of action is to speak with a lender directly. They can discuss the details of your case and help you determine if you qualify.

MONEY FROM HEAVEN

MONEY FROM HEAVEN

WHY WOULD YOU TAKE OUT A SETTLEMENT LOAN?

You’re injured and have filed a case in court to seek compensation for your injuries and loss. But in the meantime, you need to continue to pay your bills and living expenses. This becomes challenging or almost impossible if you can’t work due to your injuries.

The other party is often an insurance company that knows you can’t work. Their goal is to exhaust you financially until you feel stressed and pressured to accept any offer. They’ll then make a low ball offer.

A settlement loan enables you to remain financially stable. Now you can wait for the insurance company to make a larger settlement offer.

WHAT CAN I USE THE MONEY FOR?

You can use the money to pay your medical expenses and living costs. You can use the money how you see fit to cover your bills while waiting for your case to settle. Here are some possible bills you can pay with your cash advance.

  • Car payment
  • Mortgage
  • Rent
  • Utilities
  • Medical bills
  • Groceries

HOW ARE SETTLEMENT LOANS DIFFERENT FROM STANDARD LOANS?

Unlike a traditional loan, you aren’t required to start repayment immediately. This is because the loan you agree to is taken out against your finalized settlement award. So the lender doesn’t expect repayment until your case settles.

Repayment is easier; your lawyer can issue the payment for you out of the payment proceeds. Then the repayment balance will get sent to you.

The qualification and approval process is easier. Approval is based on your claim and court case. This is different from traditional loans that focus on your credit score, credit history, and collateral offered.

SETTLEMENT LOAN DRAWBACKS

While many loan products are heavily regulated, settlement loans aren’t one of them. They’re a type of short term financing, which means they can have high interest rates. The best solution is to shop around to find a reputable and trusted lender for your settlement loan.

Another drawback is that some lawsuits can take years to settle. If this happens, you could end up paying high-interest charges and fees on your loan for a long period of time. You can avoid this by vetting lenders and their policies before agreeing to a loan.

ARE THERE LIMITS TO THE AMOUNT?

The short answer is yes, but giving an exact limit can be challenging. The maximum amount you qualify for will depend on the estimated value of your settlement. This can vary significantly from state to state and the type of claim.

FINANCE YOUR CASE

A LITTLE FINANCING NEVER HURTS

The average settlement amount for an auto accident claim is $24,000. But a retailer slip and fall claim averages a settlement amount of $2,000. Then medical malpractice claims average $300,000.

As you can see, someone with a slip and fall claim will likely qualify for less than someone with a medical malpractice claim. Also, keep in mind that these are averages, the specific details of your claim will dictate the value of your settlement, which can vary significantly from the average settlement amount.

Most settlement loan lenders will limit their offer to a percentage of the total estimated value of your settlement. You won’t be able to get a loan for the entire estimated value.

Keep in mind that most personal injury attorneys take about a third of your award as their contingency fee. Then if you have medical costs, you could have medical liens of up to a third of your award value. That leaves about one-third of your settlement total that belongs to you.

Settlement lenders use this remaining amount to base their loan total.

HOW LONG DOES THE PROCESS TAKE?

You can qualify for some settlement loans in 1 day. Lenders of these loans understand that the reason you’re contacting them is because you’re struggling financially. They make the process as quick as possible to ensure you get your money as quickly.

Some lenders can get you cash within as little as a day after finalizing your loan agreement paperwork. You may here these fast loans called 24hr settlement loans.

HOW TO QUALIFY FOR A SETTLEMENT LOAN

To qualify for fast settlement loans, your lender must offer loans for individuals in the state that you reside in. Once you find a lender operating in your state, you need to show that your court case has merit.

Loan Approvals

Loan Approvals in 24Hrs

YOU MUST HAVE A VALID LAWSUIT FILED

Start by having a valid case filed with a court. If you don’t have a case filed, you have nothing for the lender to evaluate or base their loan on. The good news is that you can be at any stage of your claim and qualify for a loan.

ATTORNEY REPRESENTING YOU ON A CONTINGENCY BASIS

You need to show that you have an attorney representing your case. Your attorney must work on a contingency fee basis. If your attorney bases their fee on a victory of your claim, you’re more likely to get approved for a higher amount in your loan request.

LIABILITY MUST BE CLEARLY THE DEFENDANTS

You can’t be the party that’s responsible for the accident or the one liable for the damages. A good rule of thumb is to look at the party who bears the liability. If the other party bears the burden of proof, then you’re more likely to get approved for your loan.

NEED MONEY FOR YOUR OWN REASONS

Why would you take out a loan if you didn’t need it? If you’ve exhausted your other options and still face mounting debt, then a settlement loan is a perfect solution.

YOUR CASE MUST MEET THE UNDERWRITERS CRITERIA

Even if you qualify for a settlement loan under all of the other requirements, you need to have the right type of case. It needs to be the right type of claim with the right details.

The lender will look at the details of your case and determine the likelihood of you winning your case or receiving a favorable settlement offer. While you may feel that you’ll win your case, the lender could disagree. If one lender denies your application, try another, different lenders have different standards for approval.

WHAT IF YOU LOSE YOUR CASE

If you don’t win your case, you don’t owe the lender anything. Your loan is based on you winning your claim and the proceeds you receive from it. If you don’t succeed, there are no proceeds.

This makes your settlement loan a risk free solution.

TIPS FOR OBTAINING A GOOD SETTLEMENT LOAN

TIPS FOR APPROVAL

TIPS FOR APPROVAL

 

When considering different lenders, ask what their application fees are. Most lenders won’t charge them, but some do. You could eliminate the ones that charge these fees, or you could ask if they will waive the fees for you.

Ask the company how they calculate interest and if it’s compounding. Then ask if there’s a maximum cap that once reached, the company stops adding interest.

Finally, check to make sure your lender doesn’t have a conflict of interest. Don’t borrow from a lender that has financial ties to a lawyer or medical provider involved in your case.

START COMPARING VARIOUS SETTLEMENT LOANS

If same day settlement loans sound like the solution you need, then it’s time to start seeking financial help. Getting approved for

CLICK TO APPLY FOR A SETTLEMENT LOAN NOW

CLICK TO APPLY FOR A SETTLEMENT LOAN

one of these loans can relieve your financial stress and enable you to pursue your legal claim.

Work with a reputable lender to determine if your case qualifies and how much you could get approved for.

Verify that we service your state and type of case to apply for your settlement loan today.

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