Lawsuit Loans and Pre Settlement Loans
WE PROVIDE PRE SETTLEMENT FUNDING IN 24 HOURS+ WITH NO CREDIT CHECK!
Lawsuit Loans: What They Are, And Are Not
For starters, from a technical standpoint, lawsuit loans are not loans at all. They are non-recourse, outcome-contingent lawsuit cash advances secured by a small portion of the anticipated future proceeds of a pending lawsuit, settled case or other legal claim.
Pre Settlement Loans Are Non-Recourse
A settlement loan is a non-recourse cash advance that can be for any amount up to about 10-15% of the anticipated net value of a future lawsuit settlement. Our “bread and butter” cases include serious personal injury and wrongful death lawsuits, motor vehicle accidents, premises liability cases such as slip and fall accidents and serious dog bites, medical malpractice lawsuits, defective product and medical devices, dangerous drug and other product liability cases and a variety of employment litigation for workplace injuries, discrimination, sexual harassment and workers comp settlements.
People commonly refer to this type of funding by a lot of different names but regardless of what you call it, they can mean the difference between staying to course and taking home the settlement you deserve or caving early because of intense financial pressure and taking whatever settlement you can get; usually just pennies on the dollar.
How Lawsuit Funding Is Different From A Bank Loan
It’s all just money so who cares what you call it, right?
Well, not exactly. Non-recourse lawsuit settlement loans incorporate some very unique and powerful features and benefits that regular bank loans, personal loans, home equity loans and credit card cash advances are simply not able to compete with.
The most important requirements to qualify for pre settlement funding is that you must have been seriously injured due to someone else’s negligence, you must be represented by a contingent fee attorney and you must be able to show strong liability against a sufficiently insured defendant. That’s because repayment of the lawsuit cash advance is dependent upon the successful outcome of your lawsuit.
Thus, if you win your case, the cash advance gets paid back. If you lose, you keep the money and they don’t get paid anything. That’s important from an investment standpoint because no company could stay in business by consistently losing their investment dollars on low-quality cases.
6 Important Facts About Legal Funding
- Bank loans are credit-based
Borrowers must have good credit; bad credit is a deal-breaker. Qualification for a lawsuit loan, on the other hand, is based on the merit of your case, not your credit score so bad credit is irrelevant.
- Bank loans often charge up-front fees, points and closing costs
Lawsuit cash advances do not have any up-front or out-of-pocket fees or costs.
- Bank loans require income verification and proof of employment history
Lawsuit advances are designed for people who have been seriously injured, are out of work now, or may be unable to return to work…ever, so there are no income verification or employment history requirements.
- Bank loans require monthly payments, no matter what
Conventional loans carry a legal obligation to repay the amount borrowed at a pre-determined rate of interest, on a predetermined monthly repayment schedule and concluding on a pre-determined date. Miss a payment, for whatever reason, and the loan goes into default, you pay additional fees and your credit is negatively affected. A lawsuit cash advance requires no monthly payments and instead, simply gets paid off whenever your case settles.
- Bank loans require collateral, usually real estate
If you don’t have unencumbered real estate collateral to pledge as security, conventional loans are out. Legal loans require only a lien against a portion of your future lawsuit settlement proceeds, just like the lien placed for the payment of attorney fees, medical bills, case costs, etc.
Important Note: Lawsuit funding liens are ALWAYS subordinate to your attorney’s lien for fees
- Bank loans MUST be paid back no matter what
A pre settlement loan ONLY gets repaid if you win your lawsuit or it settles successfully. Obviously we’re not in the business of making advances where we know we’re going to lose money, but if you lose or your case doesn’t settle, you are under no obligation to repay the advance. It is this non-recourse feature, along with all the other flexible benefits, that ultimately make a lawsuit cash advance far superior to bank loans, home equity loans, personal loans, credit card advances, payday loans and many other types of full recourse loans.
How Pre Settlement Funding Works
TriMark Legal Funding LLC provides plaintiffs with immediate cash on their serious personal injury lawsuit, often in as little as 24 hours. It’s fast, free and easy to apply and with no credit checks, no income or employment requirements, no monthly payments and no up-front or out-of-pocket costs, our lawsuit settlement funding is 100% RISK-FREE for plaintiffs, PLUS you only repay the advance if you win your case. If you lose your case or your case doesn’t settle, YOU OWE US NOTHING!
A settlement loan is an excellent financial option for individuals who have exhausted all other options. Lawsuit lending can be thought of as “financing of last resort”. We maintain relationships with a wide variety of private and institutional lawsuit funding companies across the country. Each law suit loan provider has their own specific preferences with regard to the types of tort cases that they like to invest in. Intimate knowledge of those preferences, combined with our high volume, is why TriMark Legal Funding LLC can offer the most competitively priced cash advances in the business.
Legal Loans Can Help Level The Playing Field
A legal loan can help you turn the tables on a deep-pocketed defendant or stubborn insurance company by giving you enough money to hold out for the largest, most appropriate settlement offer your attorney can negotiate.
It is the difference between negotiating from a position of strength versus a position of weakness.
It’s Easy to Apply for a Lawsuit Cash Advance
It only takes a minute or two to apply for lawsuit settlement funding. We’ll get the info we need directly from your attorney. And depending on your case, we can have a decision in as quickly as 1 hour!
After that, we’ll send an agreement to you and your attorney. Once executed and returned, we will wire funds directly into your bank account or Fed Ex you a check overnight. It just couldn’t be any easier.