While traditional lawsuit loans help in certain situations while waiting for your settlement, medical emergencies may leave you struggling financially regardless. Even when you have health insurance, certain types of treatment might exceed your coverage or not be covered at all. If you cannot pay for your treatment after receiving it, a medical lien might be taken out by the hospital or healthcare provider on your personal injury lawsuit. A medical lien, much like other liens, entitles the hospital to a portion of your settlement to pay for your treatment. However, once the provider places a medical lien on your personal injury lawsuit settlement, they might refuse to give you further treatment until you pay to remove the lien. If you ever find yourself in this situation, medical lien funding may help you continue to get the care you need. How Does Medical Lien Funding Differ from Other Pre-Settlement Lawsuit Loans? Medical lien funding, much like pre-settlement lawsuit loans, is a cash advance given to plaintiffs for a portion of their settlement. However, they differ slightly from traditional lawsuit loans. A company that provides medical lien funding usually purchases the lien from the hospital or healthcare provider who installed it on your lawsuit. The funder then pays the provider for your ongoing care, using a portion of your settlement as collateral. However, this type of personal injury lien funding shares some aspects with traditional lawsuit loans. Much like regular legal funding, medical lien funding must be paid back with interest using a portion of the settlement. In addition, if you do not win your lawsuit, you don’t have to pay the medical funding agency back. How Do I Qualify for Personal Injury Lien Funding? To be considered for medical lien funding, you must have an active lawsuit over an accident that’s not your fault. You must also have an attorney retained for your case. Need Help While Waiting for Your Settlement? Consider Legal Funding from Ally Lawsuit Loans When you suffer injuries in an accident, you might have trouble paying for things while you recover or receive treatment. If you need help staying financially afloat while you wait for your personal injury settlement, pre-settlement funding from Ally Lawsuit Loans can help. Our pre-settlement lawsuit loans help plaintiffs pay for many kinds of expenses while waiting for their case to settle, including medical bills, rent, groceries, or other living expenses. Most importantly, our loans are risk-free, meaning you don’t pay us back unless you win your case. If you would like to ask questions about personal injury lien funding or would like to apply for a pre-settlement lawsuit loan, give us a call today at 844-545-6246. We guarantee the lowest interest rates in the industry and send cash to approved applicants within 24 hours.
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While conventional loans have been around for a long time, lawsuit loans are relatively new. For the most part, lawsuit lending is unregulated at the federal level. However, some states have strict laws in place for lawsuit lending companies to protect borrowers. Since lawsuit lenders remain mostly unregulated, you must take extra care when applying for a lawsuit loan. Here, we discuss how a lawsuit loan works and what regulations exist at both the state and federal level. What is a Pre-Settlement Lawsuit Loan? A lawsuit loan is a cash advance that lenders send to plaintiffs in exchange for part of their future settlement. Typically, lenders give these loans out to those who already have a lawyer retained and have an active lawsuit. If you get a lawsuit loan, the lender expects you to pay it back, with interest, once you receive your settlement or judgment. Plaintiffs often use a lawsuit loan to pay for expenses while they wait for their settlement, including legal fees, medical bills, rent, and more. Some people criticize the legal lending industry due to their high fees and lack of transparency. This often makes applying for lawsuit loans difficult since so many lenders aren’t honest about fees, interest rates, or terms. At Ally Lawsuit Loans, we provide our clients with this information upfront. State and Federal Lending Laws and Regulations Unlike other types of lending institutions, legal lending isn’t regulated by the federal government. However, a few states have consumer protections in place due to recent legislation. The lawsuit lending industry argues that it shouldn’t be regulated because lawsuit loans technically aren’t loans because they are non-recourse. Non-recourse means that if the plaintiff loses their case, they don’t need to repay the loan. Instead, the lenders consider the loan purchase of potential proceeds from a future settlement. In Many States, Lawsuit Lending is Unregulated The amount of regulation differs across the country, but most states don’t regulate lawsuit lending. For example, in Texas, legal lending isn’t regulated at all and it’s very easy to obtain a lawsuit loan in the state. This is due to the fact that Texas helped popularize contingency fees for legal representation in the US. California handles legal funding a little differently. While the state allows most forms of lawsuit loans, they restrict funding for workers’ compensation cases. They do this because in workers’ compensation cases the plaintiff and their attorney both receive checks for attorney’s fees and the plaintiff’s portion. This means that the lender cannot secure their lien against the trust account of the attorney. In contrast, Colorado heavily regulates the legal lending industry. In 2015, the Colorado Supreme Court ruled that lawsuit loans count as traditional lending. Thus, legal lenders must follow the same laws as traditional lenders in the state. Find Out if a Lawsuit Loan is Right For You At Ally Lawsuit Loans, we hold ourselves to the highest standards with transparent, risk-free lending. Like many other legal lenders, we offer non-recourse loans that you don’t have to pay back unless you win. However, we guarantee the lowest interest rates in the industry. If you have any questions about pre-settlement lawsuit loans or would like to apply for funding, give one of our lending specialists a call at 844-771-2957. Once approved, we send you cash within 24 hours.
If you’re considering getting a pending lawsuit loan, you’re not alone. Every day we provide cash advances on pending lawsuit settlements to plaintiffs across the county. As with any financial decision, it’s important that you get all the facts before making the decision to seek pre-settlement funding. Because civil lawsuits like personal injury or employment law claim lawsuits can take months or even years to resolve, plaintiffs often face financial hardships, especially if a claim-related injury prevents them from working. If you are in this situation, getting a cash advance against your pending lawsuit could help. Settlement loans help plaintiffs regain financial independence while they wait for a settlement. Pending lawsuit loans can even help you get a higher eventual settlement by taking the pressure off of your attorney to settle your case faster for a lower value. Any reputable lawsuit loan company ought to be fully transparent about the application process and the overall cost of a cash advance on a pending lawsuit. Here are 6 important facts about pending lawsuit loans that you ought to know before you apply. If you have questions or would like to speak with a member of the Ally Lawsuit Loans team, contact us today. Pending Lawsuit Loans Are 10-20% of Your Case Value Typically, most lenders disburse a cash advance on a pending lawsuit equal to 10-20% of the settlement value. They determine this amount based on the severity of your injuries, the length of your case, and your own estimate. To get the best estimate, discuss the value of your potential settlement with your attorney before applying for a pending lawsuit loan. Lenders Put High-Interest Rates on Pending Lawsuit Loans There are sharks in the lawsuit loan industry who charge upwards of 200% interest. Don’t select a lender that charges more than 1-3% monthly or 12-36% annually. Only take out a cash advance for a pending lawsuit that covers basic living expenses and necessities. Are you ready to apply?We offer 24-hour approval on structured settlement loan purchases. Then, we bring your structured settlement to the court for approval.Get Started Pending Lawsuit Loan Brokers Have Expensive Service Fees Always avoid working with brokers that deal with direct loan companies. These brokers usually add 15-20% to the cost of your pending lawsuit loan. They also send your case information to dozens of companies that may call your attorney without your consent. This unnecessarily diverts your attorney’s attention from your case. Lenders Cannot Disburse Pending Lawsuit Loans Until They Review Case Documents from Your Attorney Make sure you collect the following case documents from your attorney prior to applying for a pending lawsuit loan: Medical reports;Police reports;A copy of your complaint; andYour demand letter. Most lenders request this information from your attorney when reviewing your application. To save time waiting for your cash advance on a pending lawsuit, prepare these documents before you apply for a pending lawsuit loan. Your Attorney Will Respond to Lenders Faster If You Talk to Your Them Before Applying Always give your attorney a heads-up before applying for a pending lawsuit loan. This helps them prepare documents requested by the lender. Since lenders cannot disburse your cash advance until they review your case, you should keep your attorney and your lender in sync. Related: Lawsuit Loans Without an Attorney Getting a Cash Advance on Your Pending Lawsuit Could Buy Your Attorney Time to Reach a More Favorable Settlement Our clients frequently tell us that because they were able to get immediate cash against their lawsuit, their attorney actually was able to achieve a higher settlement than they would have in the absence of the lawsuit loan. In most civil claims, the defendant (normally an insurance company) wants the plaintiff to settle quickly. This is because a fast settlement typically means that they expend less resources, and get away with a lower settlement. If financial stress is causing your attorney to consider taking a lower settlement offer for your case, a pre-settlement cash advance may be the perfect solution to buy them time to keep applying pressure, and ultimately achieve a higher payout. Contact Ally Lawsuit Loans to Apply for a Pending Lawsuit Loan Today If you need a cash advance on a pending lawsuit to help with bills or living expenses, contact Ally Lawsuit Loans. We have the lowest interest rates in the industry and review applications within 24 hours. In addition, we work on a contingency fee basis, which means you repay nothing if you lose your case. To apply for a risk-free, low-interest rate pending lawsuit loan, call us today at 844-771-2957 or apply now.
If you need pre-settlement funding for your lawsuit, it is essential to shop around for the best lawsuit funding rates. Many legal funding companies offer pre or post-settlement loans and cash advances to plaintiffs in exchange for a portion of their settlement. In many cases, lawsuit loans help people avoid financial difficulties like foreclosure, eviction, utility shut off, bankruptcy, and debt collection. However, since pre-settlement loans often cost more than a personal loan from a bank, you should make sure to get the best pre-settlement funding interest rates. What Are Typical Lawsuit Funding Rates? Lawsuit funding rates depend on the value of your case and the amount of risk associated with it. Since lending money towards a legal settlement is very high, interest rates are usually higher than a personal loan. The return for lawsuit loan lenders is contingent on you winning your case, so there’s a chance that they lose their money. For example, if you pay back a $5,000 lawsuit loan with a monthly interest rate of 3% in six months, the lawsuit loan lender gets $5,900 from your settlement. However, they do not get a full $900 return. Most lenders have a loss of 8-10% in addition to the money they pay to borrow capital. In the case of the $5,000 loan above, the lender has $300 in costs and $472 in losses. This means that it costs the lender $5,772 to give you the loan. Once you pay back the loan with interest, they only make $128. For this reason, most pre-settlement funding interest rates are 1-5% monthly. How Much Will My Funding Cost? The cost of your funding depends on the value of your case and how much funding you need. These two factors help a lender determine their lawsuit funding rates. If your case carries high risk, you may have a higher interest rate. Are There Any Hidden Fees or Rates? At Ally Lawsuit Loans, there are no hidden fees or rates. However, other lawsuit loan lenders may charge additional processing fees for their cash advances. Make sure to ask about potential fees when shopping around for the lowest pre-settlement funding rates. How to Get the Best Lawsuit Loan Interest Rate If you want to get the best lawsuit funding rates, you should find a reputable lawsuit loan company that answers your questions upfront. Here are some ways you can ensure you get the best rate. Ask the Lender What Their Pre-Settlement Interest Rates Are It is important to ask every lender what their rates are over the phone or through email. Advertisements provide a range of rates because the rate often depends on the case. Get Lawsuit Funding Rates in Writing When a lender offers you a rate, always ask for the quoted rate in writing. This will help you shop around for the best interest rate and prevent deceitful lenders from making a false claim on their pre-settlement funding rates. Get Funding Through Ally Lawsuit Loans Today At Ally Lawsuit Loans, we make the lawsuit loan application process easy. Whether you suffer from a personal injury or are fighting for workers’ compensation, we are here to help you maintain financial stability. We offer the lowest pre-settlement funding interest rates in the industry guaranteed. Most importantly, our funding is risk-free. If you do not win your case, you do not need to pay us back. If you want the best lawsuit funding rates, apply now or give us a call at 844-545-6246 to get started. We approve applications for funding within 24 hours. Reviews of Lawsuit Funding Companies Find the best reviews from around the web of lawsuit loan companies and hear what others have to say about their experience with some lawsuit companies. We have taken an approach to gather some of the best reviews for some lawsuit companies out there.
It is incredibly common for employees and their employers to have disagreements or tension in the workplace. The most extreme forms of workplace conflict include discrimination, intentional harassment, and wrongful termination. However, one of the most frustrating ways an employer retaliates against an employee is by not paying them. Fortunately, the Fair Labor Standards Act of 1938 protects workers from bitter employers. Some employers, however, still refuse to pay their employees for their work after a disagreement. Taking an employer to court to get back those unpaid wages is a long, tedious process. If you filed an unpaid wages lawsuit, a pre-settlement loan from Ally Lawsuit Loans can help hold you over until your case settles. We provide cash advances to plaintiffs waiting for unpaid overtime settlements or general labor lawsuit settlements. Apply online today to get started on your lawsuit loan! Unpaid Wage Lawsuits – Facts & History in the United States Prior to the 1940s, it was common for employers to underpay workers. Due to several strikes and growing backlash against child labor, Senator Hugo Black introduced the Fair Labor Standards Act, which Congress passed in 1938. The act established a minimum wage, a 40-hour workweek, and overtime pay. There are several other provisions that make this act a landmark in labor law. For example, the minimum wage must update with inflation and employers must pay time-and-a-half to employees who work overtime. Unfortunately, many companies still try to find ways around this legislation. One way an employer may sneak out of paying their employees is by making verbal agreements instead of written ones. Some may also distribute working hours in a way that prevents adequate payment. Many people don’t report their employers fearing that they may lose their job or more of their wages. Thankfully, attorneys help level the playing field by representing employees in unpaid wage lawsuits. Are you ready to apply?We offer 24-hour approval on structured settlement loan purchases. Then, we bring your structured settlement to the court for approval.Get Started What is My Unpaid Wage Claim Worth? The value of your unpaid overtime lawsuit depends on a lot of factors. Some plaintiffs may try to collect double-overtime wages, while others might just get paid a lump sum for a project they weren’t paid for. State laws also change the value of an unpaid wage claim. For example, since minimum wage varies between states, a case may be worth more if you work in a state with a higher minimum wage. How Long Will It Take My Unpaid Wage Claim to Settle? A significant factor that affects the length and value of a case is the number of plaintiffs. Some cases are between one employee and their employer, while others involve thousands of employees. In 2013, Bank of America paid a massive overtime lawsuit settlement of $73 million to 180,000 employees after having them work off the clock. In addition, some companies offer labor lawsuit settlements quickly to help them mitigate bad press. However, many companies may fight in court for as long as it takes. This makes it difficult to know how long it takes for a case to settle. If you find yourself filing an unpaid wages lawsuit against your employer, a loan from Ally Lawsuit Loans can help you while you wait for your overtime lawsuit settlement. How Ally Lawsuit Loans Can Help At Ally Lawsuit Loans, we understand how difficult an unpaid wages lawsuit can be. We provide pre-settlement loans for those waiting for their unpaid overtime settlements. It is easy to apply for our funding. After submitting an application, we review it with your attorney to determine the value of your case. If you’re approved, we can deliver cash to you within 24 hours. Most importantly, our pre-settlement loans are risk-free. If you do not receive a labor lawsuit settlement, you pay us nothing. Apply today or call 844-771-2957 to learn more about our pre-settlement lawsuit loans.
When you’re involved in a lengthy lawsuit, your cash flow may run low as your stress runs high. While your attorneys spend months negotiating a settlement, your bank account plummets. You may worry about paying your bills and wonder where to find funding for a lawsuit. We have a simple lawsuit funding suggestion. During this long settlement process, you can apply for a lawsuit cash advance. You may have some questions about a settlement advance. What is a settlement advance? How do you qualify for a cash advance? Why would you get denied funding for a lawsuit? Keep reading for answers to common lawsuit funding questions. What is a Settlement Advance? A settlement advance involves you borrowing from your future settlement award. The simple process follows these four steps: You apply with a lawsuit funding lender.The lender talks to your attorney about the merits of your case.The lender informs you if you qualify for a lawsuit cash advance.The lender delivers your cash advance within 24 hours. You don’t pay back your lawsuit advance until you receive your settlement award. If you don’t win your lawsuit, you owe nothing on your lawsuit cash advance. How Do You Qualify for a Cash Advance? Lawsuit cash advances differ from other loans. For traditional loans, lenders qualify the borrower based on credit score and income. Instead, for lawsuit funding, lenders evaluate the borrower’s potential settlement. Lenders gain the confidence to fund your lawsuit if they think that you are likely to win a substantial settlement. After you apply for a settlement advance, the lender investigates your potential to win a settlement award. The lender calls your attorney to see where your case stands. From this communication, the lender wants to learn a few things about your case: How likely are you to settle?When are you expected to settle?How big of a settlement should you receive? These case factors determine whether you qualify for a lawsuit cash advance. Why Would You Get Denied Funding for a Lawsuit? If a lender denies you a cash advance funding for your lawsuit, you probably feel disappointed. You may wonder what factors lenders evaluated before denying you funding. There are several reasons why a lender may decide not to fund your lawsuit cash advance. Cash Advances Violate State Law Most states allow lawsuit cash advances. However, there are a few states that prohibit this form of financial assistance. Currently, three states ban settlement cash advances: MarylandColoradoTennessee If you live in one of these three states, a lender cannot provide you a lawsuit cash advance. Even if you have a strong case, state law prohibits a lender from offering you an advance. You Don’t Have an Attorney A lender needs to speak to your attorney before offering a lawsuit cash advance. If you don’t have an attorney, the lender cannot make an informed decision on your loan. Even if you present a strong case, the lender needs to understand where you stand legally. Hiring an attorney increases your settlement potential and settlement amount significantly. A lender insists that you hire an attorney because the lender wants you to have the best chance at winning your case. Hire an attorney to expedite your case and your potential for a settlement cash advance. Most personal injury attorneys work on a contingency fee, meaning that you don’t have to pay your attorney up-front. The contingency fee varies by the attorney. You should read your attorney-client contract carefully to make sure you understand contingency fee details. A lawyer working on contingency wants your case to settle for as much as possible. This motivation should make an attorney work even harder for you. Consult several attorneys, and sign on with the one who seems like your best advocate. You Have Other Funding If you already have a cash advance, that doesn’t automatically disqualify you from obtaining a new settlement advance. The second advance functions as a lower interest refinance on the previous settlement advance. However, if you owe more than a lender thinks your settlement is worth, the lender won’t issue another advance. After all, the lender needs to believe that you can pay back the advance. Lenders don’t issue a predetermined cap on cash advances because each case is unique. Each advance depends on the settlement potential of the associated lawsuit. If your previous advance balance falls below your potential settlement, a new lender could offer you another cash advance. Get Pre-Settlement Funding Now Even if a lender has denied your settlement advance before, we will give it a second look. Some of the factors that disqualified you previously may have changed. If you need cash while you wait for your lawsuit settlement, call us at (800) 760-0704 or apply today!
When you file a personal injury lawsuit, you travel a long legal road to settlement. You hire attorneys, give depositions, and collect medical records. You wait while the lawsuit drags on. You worry about your dwindling bank account. You can avoid some of that financial stress with a settlement advance. You can’t hurry the legal process along, but you can tap into your settlement before your case closes. In this process, you borrow from your damage awards and pay back the lender once your case settles. To obtain a settlement advance, apply with a legal cash advance lender. The lender discusses your case with your attorneys and determines whether you qualify for a legal cash advance. If the lender approves you for a settlement advance, you get cash in 24 hours. You pay nothing back until you receive your settlement. You should know a few things about settlements before taking a settlement advance. How are settlements paid out? What steps does the process involve? Here’s what you need to know. 9 Steps to Settlement Reaching a settlement involves work. Parties investigate, negotiate, file insurance claims, and conduct medical evaluations.Settlements take time. The process may span a year or more. You sign stacks of paperwork. When negotiations end, you sign the Order of Settlement. You also sign a release, promising the defendant that you won’t file a future lawsuit on your injury. Terms and conditions are important. Your attorney reviews all documents before submitting them. If your attorney disagrees with terms and conditions, he or she negotiates with the defendant’s attorney.A judge steps in to resolve disputes. If the attorneys cannot reach an agreement on settlement terms and conditions, they go to a judge. This judicial involvement delays the settlement process.The insurance company cuts the check. The defendant’s insurance company pays you after they receive the Order of Settlement and release. The insurance company should issue your check promptly, but they sometimes delay.Your attorney holds onto the check. The insurance company makes the check payable to you and your attorney and sends the money to your attorney’s office. Your attorney deposits the check-in an escrow account, while it clears. Debts have first dibs. You pay any outstanding liens, such as medical bills, child support, or attorney fees. Your attorney takes the amount outlined in your contingency fee agreement.You finally get your cash. Your attorney sends you a check with the remaining settlement award. So, to answer that question, “How are settlements paid out?” It takes time and work. You may feel discouraged reading about such a lengthy settlement process. But know that a big check waits at the end of that ordeal. Apply for a 24 Hour Settlement Advance If you need cash while you wait on your settlement, we can help. We offer a settlement advance with 24-hour cash approval. Contact us by filling out our online form or calling us at (800) 760-0704. If you qualify for a lawsuit cash advance, we’ll send you cash within 24 hours!
Do you feel like you’re stuck between a rock and a hard place while you wait for your lawsuit to settle? You filed a personal injury lawsuit, and you hope to win damages for your injury. The money won’t repair all you’ve suffered, but it will help. However, the average cost of a lawsuit is high. Until you get that settlement, how do you make ends meet? Lawsuit settlement advances help plaintiffs pay their bills while they wait on a settlement. If you’re wondering, “How much do lawsuit loans cost?” you’ll want to know several things about settlement advances: What is a settlement advance?How do you get a settlement advance?What lawsuit loans interest rates apply?When do you pay back your settlement advance? What Is a Settlement Advance? Taking a settlement advance means you borrow money from your future settlement. If you qualify for a settlement advance, you access your award before your case settles. A settlement advance depends on the amount of your potential settlement. It is difficult to give an average cost of a lawsuit cash advance because every case differs. If you are suing for a substantial amount of money, you may qualify for a bigger cash advance. A settlement advance helps you while you wait for your lawsuit to settle, and you owe nothing on your loan until settlement. How Do You Get a Settlement Advance? You apply for a settlement advance with a reputable lender, who evaluates your case. The lender calls your attorney to gauge your chances of reaching a settlement. The lender investigates these factors before offering you a loan: How soon will you settle?What settlement amount do you expect to receive?Have you received any other settlement advances? If the lender receives satisfactory answers to all these questions, the lender will extend you a settlement cash advance. You should have your money within 24 hours. Our guarantee is simple. Within 24 hours of your qualifying, we wire transfer the loan to your account or overnight a check. What Lawsuit Loans Interest Rates Apply? Interest rates, what a lender charges to lend you money, can be confusing. Even though you don’t owe loan payments until your case settles, interest still accumulates. This ambiguity doesn’t provide an easy answer to the inquiry, “How much do lawsuit loans cost?” The amount of interest you pay on your lawsuit loan depends on two things: Your interest rate. Lawsuit loans interest rates are either simple or compounded. Simple interest is easy to calculate. Determine simple interest with this formula: Principal Loan x Annual Interest Rate x Length of Loan. Compound interest, based on your original loan plus the interest accrued, is more difficult to calculate. The formula for compound interest depends on how often your loan compounds: monthly, quarterly, or yearly. How long your case takes to reach a settlement. Accumulated interest climbs higher if you have a longer loan. So, if your case takes a long time to settle, you will owe more in loan interest. While you can’t know exactly how much your lawsuit loan costs, interest rates help you compare lenders. How to Evaluate Settlement Lenders When you evaluate lenders for your settlement cash advance, each lender should give you a payment chart for your loan. The chart doesn’t provide the average cost of a lawsuit cash advance, but it details the lender’s interest rates. If the lawsuit lender does not provide you with a lawsuit loans interest rates chart, beware. You want to work with a lender that is straightforward about lawsuit loan fees. You don’t want any surprises when you settle and pay back your loan. Look carefully at lawsuit loans interest rates before accepting the advance. Consider these details when evaluating any potential lawsuit lender: The lender should detail all fees and provide a simple payment chart.The lender should charge no up-front fees.The lender should provide you a free consultation. Besides interest fees, you may see other fees noted on your contract. Lenders sometimes charge application fees, underwriting fees, and origination fees. However, these fees should not amount to much money. If you see a lender charging exorbitant fees, look elsewhere for your lawsuit loan. When Do You Pay Back Your Settlement Advance? You owe no payment on your lawsuit loan until your case settles. When your case settles, you owe the lender the loan principal plus interest. If you lose your lawsuit, you owe the lender nothing. Although loan interest adds to the cost of your lawsuit, plaintiffs weigh the benefits of these loans against the cost. Lawsuit cash advances help plaintiffs pay bills and relieve stress while plaintiffs wait for a settlement. Get Pre-Settlement Funding Now If you are struggling to make ends meet while you wait for your settlement, we can help. We send cash within 24 hours and guarantee the lowest rates. You owe us nothing if you lose. Stop stressing about cash, and call us at (800) 760-0704 or apply today!
Even if you have a strong and well-supported legal claim, it can take a significant amount of time to recover full and fair financial compensation through a lawsuit. As described by the American Bar Association (ABA), the typical tort claim — such as a personal injury lawsuit — will take somewhere between three months and twenty-four months to reach a resolution. This raises a potential problem for plaintiffs: What do you do if you need money right now? One option available is that you can borrow money from your settlement. There are, of course, pros and cons to getting a loan against a lawsuit. Still, for many people, lawsuit funding is the most cost-effective way to get bills paid now. How Does Lawsuit Borrowing Work? If you are getting money for a lawsuit or a loan against a lawsuit, you are technically getting something called a ‘non-recourse cash advance’. Although the term ‘loan’ is often used in the industry, lawsuit funding is not technically a loan at all. Instead, plaintiffs “sell” a portion of the value of their case in exchange for immediate cash. This means that your eligibility to borrow against your lawsuit is based on the strength and value of that lawsuit. The higher your settlement is expected to be, the more cash you will likely be able to access today. With lawsuit borrowing, there are no credit checks and there is no income verification. Approval may take as little as a single day. That being said, a lawsuit lending company will need some basic information from your attorney before it can proceed in reviewing your application for a settlement advance. Do I Pay Any Out-of-Pocket Fees if I Borrow Money from a Pending Lawsuit? No. The most reputable lawsuit lenders do not charge any upfront fees or out-of-pocket costs. Since lawsuit loans are not technically loans, there aren’t any fees to process the cash advance. No Monthly Payments — You Only Pay if You Recover Financial Compensation When you are looking for the right lawsuit lending company, two of the most questions you need to ask are as follows: Are there monthly payments? Do I have to repay anything if I lose my case? The answer to both questions should be ‘no’. Lawsuit funding is non-recourse funding. That being said, there should be no monthly payments and you should only be required to pay if you get a settlement or trial verdict. Though there are no monthly payments, it is still important to consider your case. Make sure you find the lowest rate lawsuit funding. When your case is finally resolved, you will want to pay back as little as possible. Sadly, some lawsuit lending companies charge clients sky-high interest rates. There are better options available — Ally Lawsuit Loans guarantees the lowest rates in the entire industry. What Are Your Interest Rates? Your interest rate depends on the nature of your case. We can beat other lending companies by offering interest rates that correlate to the strength of your case. In other words, the stronger your personal injury case is, the lower your interest rate is. Unlike other lawsuit loan companies, we keep the costs of borrowing money from a pending lawsuit low by not taking on every case. Instead, we take cases that have clear liability and severe injuries. More importantly, we don’t check your personal credit history, employment history, or income. We base your interest rate solely on the details of your case. What Types of Cases Do You Fund? At Ally Lawsuit Loans, we fund a full range of personal injury cases, including but not limited to: Automobile accidents;Bicycle accidents;Pedestrian accidents;Work injury claims;Workers’ compensation claims;Medical malpractice;Slip and falls;Nursing home neglect or abuse;Dog bites;Defective products;Defective medical devices;Dangerous drugs; andWrongful death. If you don’t see your case type listed above, you are probably still eligible to borrow money from a pending lawsuit. Please give us a call to discuss the details of your claim. How Long Does it Take to Receive My Loan? This depends on how quickly your lawyer or law firm sends us your case information. In many cases, you may qualify and receive your payment in as little as 24 hours. We can wire transfer the funds to your bank account, send a check, send funds through Western Union, and more. What Can I Use My Cash Advance to Pay For? If you borrow money from a pending lawsuit, you can use it on anything! Most borrowers use their pre-settlement funding to pay for medical bills, rent, utilities, groceries, legal fees, and other expenses. How Much Money Can I Borrow? The size of your offer depends on the value of your case. We have previously offered lawsuit loans from as little as $500 to as much as $750,000. Typically, we offer 10-20% of your expected settlement amount. Apply for Lawsuit Funding Today At Ally Lawsuit Loans, we are proud to provide the lowest cost pre-settlement lawsuit funding to plaintiffs across the country. If you are interested in borrowing money for your lawsuit, please do not hesitate to submit your application today. Give us a call at 844-545-6246 if you have any questions about our pre-settlement lawsuit funding. Our customer support team is here to answer any questions that you might have and to walk you through all aspects of the application process.
Waiting for a lawsuit settlement can be stressful and frustrating. As the American Bar Association (ABA) explains, personal injury claims can take months or even years to reach a final resolution. Unfortunately, your bills are not going to wait that long. This is where a settlement advance offers an answer. In the most simple terms, a settlement advance is a way to trade part of the future value of your lawsuit settlement or trial verdict for immediate cash funding. In other words, a settlement advance can be a cost-effective way for plaintiffs to get some much needed financial breathing room while they wait for the defendant or insurance company to take action. Lawsuit Settlement Advances: Three Important Things You Need to Know Settlement Advance Funding is Not Technically A Loan You may hear a settlement advance referred to as a lawsuit cash advance loan, a personal injury lawsuit loan, or pre-settlement funding. Indeed, many different terms are used within the industry to describe the same thing. Notably, while a settlement advance is often called a “loan”, that is technically a misleading term. Pre-settlement funding is non-recourse funding. This means that you are not required to pay anything if your case never settles or you lose it in court. Instead of getting a loan, plaintiffs are “selling” a portion of their settlement for a cash advance. Eligibility Depends on the Strength of Your Case You are not automatically qualified for settlement funding. Eligibility for this type of cash advance will depend on the strength and total value of your legal case. To be clear, this means that your credit history is irrelevant. At Ally Lawsuit Loans, we do not do credit checks, nor do we require income verification or employment verification. Your financial circumstances will not block you from getting access to the cash advance that you need. The Cost of Lawsuit Funding Matters Finally, it is important to remember that lawsuit funding is not free. While there are no monthly payments and you will owe nothing if you lose your case, you are selling a portion of your settlement. It is imperative that you look for a lawsuit lending company that offers affordable, fair rates. At Ally Lawsuit Loans, we are proud to provide plaintiffs with the lowest rate settlement advance funding— guaranteed. We lookout for the financial interests of our clients. Our team wants you to take only what you need to pay your bills and support your family while you wait for the settlement check. Apply for a Lawsuit Settlement Advance Today At Ally Lawsuit Loans, we are committed to providing the lowest cost settlement advances to plaintiffs. If you are interested in obtaining a cash advance on a pending lawsuit, we are here to help. We encourage you to apply now— you may qualify in as little as 24 hours. Have specific questions? Our top- rated customer service team is standing by, ready to walk you through all of the steps of the application process.