How Many Pre-Settlement Loans Can I Get?

pre settlement loans

Pre-settlement lawsuit funding exists to help injured victims pay their bills and support themselves while they are waiting for their settlement check.

Unfortunately, in many cases, it can take months or even years for plaintiffs to get a full and fair settlement from defendants or insurance companies.

Of course, your bills are not going to wait that long for the claims process.

At Ally Lawsuit Loans, we offer the lowest rate of pre-settlement funding for lawsuits. If you already received a pre-settlement loan, you may still be eligible to obtain a second loan or even a third loan. Apply today and we'll determine if you qualify within 24 hours.

We frequently work with clients who have already received a lawsuit loan from another company.

Your eligibility for an additional loan will depend entirely on the estimated value of your settlement and the total amount of your initial loan. We will not deny you simply because you have already received a loan.

Your application will be reviewed on its merits. Here, we explain the most important things that you need to know about applying for additional pre-settlement funding.

PRE-SETTLEMENT FUNDING STEPS:

You Can Always Apply for an Additional Pre-Settlement Loan

There is no set limit to the number of lawsuit loans you can take out. In fact, plaintiffs frequently take out a second or third loan on their case. This is normal and understandable: it is very difficult to predict exactly how much pre-settlement funding you and your family will need.

In some cases, personal injury claims take far longer to settle than was initially anticipated. In other cases, a person’s day-to-day expenses may turn out to be higher than was expected.

It could be because their medical bills are higher, because they were forced to miss more time at work than they initially thought, or simply because they ran into some unexpected bills.

Regardless, if you took out less than the maximum available loan the first time, you will likely be qualified to obtain additional pre-settlement funding.

PRE-SETTLEMENT FUNDING STEPS:

We Will Determine Your Current Loan Eligibility

As a starting point, our pre-settlement funding specialists will calculate your maximum loan eligibility. Of course, you do not have to take the maximum loan.

Indeed, we recommend that our clients only take what they need. You can always come back from another loan. At the same time, we also want our clients to know what options they have available.

If you have already taken out a previous lawsuit loan, you may still be eligible to obtain additional funding — especially if you took out less than you were offered as a ‘maximum’ loan the first time.

We know the lawsuit funding process can be complicated, particularly if you have taken out a previous pre-settlement loan. If you have any questions about the lawsuit lending process or your eligibility, we have put together a guide to pre-settlement funding that addresses many of the most common issues.

For specific questions, please contact our customer service team right away.

PRE-SETTLEMENT FUNDING STEPS:

Why You Should Work With Ally Lawsuit Loans

If you are considering applying for a second pre-settlement loan, it is essential that you work with the very best lawsuit financing company. At Ally Lawsuit Loans, we are committed to providing the best services in the industry.

Sadly, some unscrupulous companies take advantage of plaintiffs — charging hidden fees or disguising terms.

You need a company that you can trust. We offer:

  • The lowest rate pre-settlement funding — guaranteed;
  • A clear, fair, understandable application process;
  • Your loan in as little as 24 hours; and
  • The best customer support services.

Applying for pre-settlement lawsuit funding can be a complicated and stressful process — especially if you have already taken out a previous lawsuit loan on the same settlement.

No matter the specific nature of your situation, our expert customer support team will walk you through the application process and help you find the best available solution.


Learn About Other Lawsuit Funding Companies


Apply for a Settlement Loan Today

At Ally Lawsuit Loans, we are committed to helping plaintiffs get access to the funds that they need to support themselves and their family throughout the personal injury claims process.

Our pre-settlement loan specialists are here to answer all of your most pressing questions. To apply for a pre-settlement lawsuit loan, please do not hesitate to contact us today at (800) 760-0704

How to Find the Best Lawsuit Loan Companies

| Read Time: 3 minutes

If you need financial stability while waiting to settle your lawsuit, you’re probably aware that there are several pre-settlement loan companies who want a portion in exchange for a cash advance. It is essential that you know how to separate the best pre-settlement loan companies from the deceptive ones. The lender you choose has an impact on the amount of money you receive from your settlement, so it’s very important to do research into potential lenders to make sure the company you choose is a good fit. Here’s how to find the best lawsuit loan companies for your case. Best Lawsuit Loan Companies Below is a list of the top 10 settlement loan companies to compare when shopping around for lawsuit funding. Click on each lawsuit loan company to read about reviews around the web. Make sure to consider all of your options. Ally Lawsuit LoansPeachtree Financial SolutionsOasis Legal FinanceThe Legal Funding GroupBuckeye Legal FundingPrime Case FundingMomentum FundingFair Rate FundingCase CashCherokee Funding Top 5 Questions to Ask a Lawsuit Loan Company While looking for the best lawsuit funding companies, it is important to ask each lender questions that help you gauge the potential cost of the loan. Asking these questions will help you choose the best lawsuit pre-settlement loan company. #1: How Do You Set Interest Rates on Pre-Settlement Loans? The best lawsuit loan companies determine interest rates on a case-by-case basis based on the strength of each case. Interest rates largely depend on the likelihood of your case resulting in a good settlement or verdict. Do not work with a pre-settlement funding company that charges the same interest rate for every customer. #2: What is the Interest Rate for My Pre-Settlement Cash Advance? When you get an offer for pre-settlement funding, a lender should tell you upfront what your interest rate is before you sign paperwork. The best lawsuit funding companies will usually give you an interest rate between 1-3% monthly. If a lender gives you a rate higher than 3%, consider looking for another offer. #3: What Are the Terms and Conditions of the Loan? Since filing for a lawsuit is very overwhelming, the terms and conditions of pre-settlement funding should be simple. The best settlement loan companies offer clear, concise terms and conditions for their loans. Never work with a lender that refuses to answer questions about the terms of your loan. #4: Will You Discuss My Funding Application With My Lawyer? Before you get a pre-settlement loan, you need to be represented by a lawyer and have a lawsuit filed on your behalf. The best lawsuit loan companies will always ask to speak to your lawyer about your case when you apply for funding. Your lawyer gives the lender information about your case to assist in case evaluation and underwriting. #5: How Quickly Will I Get My Pre-Settlement Cash Advance? Since reputable settlement loan companies don’t require a credit or background check, most lenders transfer money to you within 24 hours of approval. Why You Should Choose Ally Lawsuit Loans If you are trying to find the best lawsuit loan companies, consider funding from Ally Lawsuit Loans. At Ally Lawsuit Loans, we understand how difficult it is to maintain financial stability during a lawsuit. We provide legal funding for those waiting on their settlement for cases ranging from personal injury to workers’ compensation. Lowest Rates Guaranteed No matter what type of case you have, we guarantee the lowest rate in the industry. If you find a low-interest rate while searching for the best pre-settlement loan companies, we will beat it. Risk-Free Our loans are 100% risk-free. That means if you don’t win your case or get a settlement, you pay us nothing. Quick and Easy Application Assuming your case is a good fit, we send you a cash advance within 24 hours of application approval. Contact a Reputable Settlement Loan Company Today If you need a risk-free, low-interest rate loan to keep your head above water while waiting for a settlement, give Ally Lawsuit Loans a call today at 844-545-6246 or apply now. We offer the lowest interest rates in the industry and provide cash advances within 24 hours of approval.

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Are Car Accident Settlements Taxable?

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If you receive a settlement from a personal injury case involving a car accident, you might be wondering if you owe any taxes on your settlement earnings. According to the IRS, if you receive a settlement due to physical injuries or sickness and don’t take an itemized deduction for medical expenses due to the injury, your settlement isn’t taxable. However, there are some exceptions to this rule depending on the details of your personal injury case. So, are car accident settlements taxable? In this article, we will explore the different factors in your case that affect the taxability of your settlement earnings. What Portion of My Car Accident Settlement is Taxable? Your car accident settlement might be taxable in certain instances. The type of compensation the IRS finds taxable in personal injury cases includes: Lost wages;Damages due to emotional distress;Punitive damages; andInterest earned on a settlement. Since lost wages replace what you would have earned working, the IRS considers this type of compensation as regular wages. In fact, the IRS taxes compensation for lost wages similarly to regular wages. However, if you receive multiple years of lost wages in your settlement, you might be taxed as part of a different tax bracket. For example, if you usually earn $30,000 per year and you receive $90,000 of lost wages in your settlement, your federal tax bracket changes from a 12% income tax rate to 24%. What Parts of My Car Accident Settlement are Tax-Exempt? Usually, compensation for physical injury isn’t taxable in a car accident settlement. Whether you settle your case before or after filing a lawsuit, you don’t have to pay taxes on your settlement earnings.  Generally, any damages you recover as a result of an injury or illness aren’t taxable at the state or federal level. This includes pain and suffering in many cases. How to Reduce Your Car Accident Settlement Tax Obligation If you work with an attorney, you might be able to reduce or even eliminate your tax obligation. To reduce the amount of taxable earnings in your settlement, ensure that you classify your damages carefully.  You might also consider exploring structured settlements instead of a lump sum settlement. Since structured settlements split your compensation into multiple installments, you may be able to exclude some of your settlement earnings from your current tax year. Need Help Paying Bills While Waiting for a Settlement? Apply for Funding Through Ally Lawsuit Loans Today If you sustain injuries in a car accident, you might not know how to keep financially afloat while you recover. While waiting for your personal injury settlement, expenses like medical bills, attorney’s fees, rent, and more might pile up, especially if you can’t work. If you ever find yourself in this position, consider pre-settlement legal funding from Ally Lawsuit Loans. Our loans give plaintiffs peace of mind while they wait for their lawsuit to settle. Not only do we guarantee the lowest rates in the industry, but we also offer risk-free funding. If you don’t win your case, you don’t have to pay us back. If you would like to apply for a lawsuit loan or want to know if your potential car accident settlement is taxable, give us a call at 844-545-6246. We deliver cash to applicants within 24 hours of approval.

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Hit and Run Lawsuit Loans

| Read Time: 2 minutes

Like any accident, hit-and-runs leave a devastating impact on your physical and financial well-being. If you sustain injuries from a hit-and-run accident, you might need help paying for medical treatment or other living expenses while you recover. Thankfully, pre-settlement funding can help you keep you financially afloat while you wait for your hit-and-run lawsuit to settle. Here’s what you need to know about hit-and-run injury claims and how a lawsuit loan may help. What to Do If You Are a Victim of a Hit-and-Run If you ever get hit by a driver and they flee the scene, immediately contact the police. When the police find the suspect, you may file a claim against their insurance company. However, if the police cannot find the driver, you must file a claim with your auto insurer.  In the event of a hit-and-run accident, you should follow these steps to ensure your safety and build your case: Call 911 and request an ambulance if you are injured;Try to write down as much information as you can about the suspect’s vehicle including the model, year, color, and license plate number;Get checked out by a doctor even if you don’t have serious injuries to make sure you don’t have any internal injuries;Take photos of the scene, including your injuries and damage to your vehicle;Record statements from potential witnesses who saw the accident; andContact a personal injury attorney before speaking with the insurance company. If you end up filing a hit-and-run lawsuit, this information may help strengthen your claim. Do not take any blame for the accident or allow the insurance company to take a recorded statement. They might use this information to lower or completely deny your claim. Check Your Insurance Policy for Uninsured Motorist Coverage Make sure you check your auto policy to see if you have uninsured motorist coverage (UIM). This type of coverage typically covers damage you or your car sustains in a hit-and-run accident, especially if police cannot catch the suspect. This portion of your policy also covers medical treatment costs, lost wages, and other damages if you have injuries. Apply for Legal Funding Through Ally Lawsuit Loans Today We understand how difficult it is to recover after suffering injuries in a hit-and-run crash. Often, these injuries put you out of work, causing bills to pile up as you receive treatment. At Ally Lawsuit Loans, we provide pre-settlement funding to plaintiffs who cannot wait for their hit-and-run lawsuit to settle. Our risk-free loans provide cash to you for a variety of expenses while you recover, including rent, groceries, medical bills, legal fees, and more. Most importantly, you don’t have to pay back the loan unless you win your case. If you have any questions about our hit-and-run lawsuit loans or would like to apply, give us a call at 844-496-6446. We guarantee the lowest interest rates in the industry and provide cash to approved applicants within 24 hours.

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