If you’ve been injured due to the negligence of another and are seeking compensation through a personal injury lawsuit, you may be worried about your financial situation.
The entire process could take well over a year. And if your case goes to court and you receive a decision, it can be even longer before you receive a settlement check.
All the while, your medical bills and other financial obligations keep adding up.
Feeling stressed about your circumstances as you wait for the outcome is a great reason to consider pre-settlement funding.
Our lawsuit loans provide cash advances to parties in anticipation of a financial settlement or reward from a lawsuit.
However, before you can get a pre-settlement lawsuit loan, you must have an attorney representing your case.
Can My Lawyer Prevent Me from Getting My Lawsuit Loan?
The first step before applying for pre-settlement funding should be speaking to your legal representative.
With an attorney on your case, your chances of winning a settlement increase dramatically. It’s important to have your attorney on board with the lawsuit.
While an attorney can’t prevent you from getting a lawsuit loan, it is unlikely you’ll get funded without your attorney’s approval.
In fact, we require your attorney’s signature before approving your application. Since repayment for lenders is contingent on the outcome of the case, we cannot take a risk on plaintiffs without an attorney.
Many factors go into your attorney determining whether they want you to proceed with a pre-settlement lawsuit loan. The most common reasons for rejection include:
- You live in a non-fundable state (AR, CO, KY, MD, NE, NC, OK, and SC),
- You have exceeded the number of advances you could take out,
- Your claim is too early to fund,
- Your attorney won’t work with pre-settlement lenders, or
- Your attorney feels the purpose of the loan isn’t urgent (e.g., housing, transportation, electricity bills, and food).
If you were denied a pre-settlement loan, it doesn’t mean you won’t qualify later. In many cases, you may qualify if your case becomes stronger.
For example, if you were denied because your case could not establish liability, you can reapply once your lawyer establishes fault.
You’ll also incur fewer fees the closer your claim moves to trial because the time for repayment is much shorter.
If you still need an attorney, the good news is that many law firms work on a contingency fee basis, which means you don’t pay them unless you win your case.
But since having a lawyer also increases your chances of getting a larger settlement, the fee you pay them is well worth it.
Wondering About a Pre-Settlement Loan?
At Ally Lawsuit Loans, we’ll work closely with your attorney to review and understand your lawsuit during the application process.