How Much Do Lawsuit Loans Cost?

How Much Do Lawsuit Loans Cost

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:

  1. 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.
  2. 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!

Actos Lawsuit Cash Advance

| Read Time: 4 minutes

Actos was a prescription drug manufactured by Takeda Pharmaceuticals and marketed by Eli Lilly and Company. The drug was used to treat type 2 diabetes. However, the drug was linked to significant injuries in those who used it. Many people suffered from things like an increased risk of developing bladder cancer and heart failure.  A series of cases in the 2010s accused the makers of Actos of destroying and downplaying evidence that linked the drug to bladder cancer specifically. While those lawsuits have been settled by now, many people either still suffer from the negative effects of Actos or have not received compensation for the damages that Actos caused them. As a result, the makers of Actos are currently on the receiving end of new litigation.  If you were injured by Actos and have not received compensation, you may still have a claim for damages. In the event that you decide to file a lawsuit against Actos’s makers and need cash, a lawsuit loan from Ally Lawsuit Loans can help you now. Actos Lawsuit Settlement Amounts The Actos settlement payouts from 2014 and 2015 are quite significant. One party’s Actos settlement amount was initially a $9 billion verdict. In that case, courts eventually reduced the final judgment to $36.8 million, but that was just one case. Later, as more claims rolled in, the lawsuits were consolidated into a class action case with roughly 9,000 parties in the class. The eventual Actos settlement agreement was $2.4 billion. And those are just the older cases that are all settled and paid out. In the case filed against Actos’ makers in 2020, lawyers for the plaintiff are seeking $10 million in damages. Thus, you can see that if Actos caused you damage, it is well worth your time and effort to file a claim. After all, the value of your Actos settlement is probably quite significant. When Will Actos Settlements Be Paid? Parties to the 2014 and 2015 lawsuits have already collected their settlements. However, as noted earlier, litigation is ramping up once again. If you are filing your own lawsuit against Actos, it is unclear when the official Actos settlement will occur. Litigation takes a long time. Furthermore, with damage amounts as high as they are in many of the Actos lawsuits, the litigation can take even longer. Because it is impossible to know when your lawsuit will eventually settle, it’s hard to plan your finances accordingly. Thus, if you need cash now, an Actos lawsuit settlement loan can bring you financial stability. Best of all, at Ally Lawsuit Loans, we guarantee that you will have your money within 24 hours of your loan’s approval.  How Can a Cash Advance Help Me? A cash advance will help you fight your case to the end, so you can maximize your eventual settlement. Often, powerful parties like insurance companies and other large corporations (like pharmaceutical drug manufacturers) will purposely offer parties with fewer resources a lowball settlement offer. A lowball settlement offer doesn’t account for all your damages, so it isn’t typically one that you want to accept. Entities with deep pockets know that the people suing them may find themselves in a financial bind. Their hope is that the other party will accept the lowball settlement offer out of financial necessity.  If you find yourself in this situation, it can feel like you are between a rock and a hard place with two equally bad options. Luckily, there is a third option available: a lawsuit loan. With a lawsuit loan, you get cash in your pocket straight away. With that cash, you can take care of your immediate financial needs so you can continue to fight your case to the end. That way, you maximize your chances of recovering all the damages you suffered.  How Does a Lawsuit Loan Work? A lawsuit loan, which we sometimes call a pre-settlement loan or pre-settlement cash advance, is a unique type of loan. Lawsuit loans are unique in that they are what is known as “non-recourse loans.” Most loans are recourse loans. If you take out a loan and later default on it, the lender can claim back the assets you put up as collateral. With a recourse loan, however, the lender can pursue recovery against the entirety of your assets if the collateral is not sufficient: house, car, land, investments—anything that you own.  Conversely, with a non-recourse loan, you specify the collateral in your initial loan agreement. When you default on a non-recourse loan, your lender can only seize whatever you put up as collateral. With lawsuit loans, which are a specific type of non-recourse loan, the collateral is your eventual settlement. Thus, if you default on your loan, your settlement is the only thing your lender can seize. The practical implications of this are that if you take out a lawsuit loan and lose or fail to settle your lawsuit, you don’t owe your lender anything. In that way, a lawsuit loan is risk-free. Ally Lawsuit Loans Can Help You Fight Your Actos Lawsuit to the End If you are filing an Actos lawsuit and need immediate financial assistance, Ally Lawsuit Loans can offer you a non-recourse lawsuit loan. That way, you can continue to fight your case until you get a settlement offer that covers the entirety of your damages.  There are three things that set Ally Lawsuit Loans apart from other lawsuit loan providers in the industry. First, once you apply for your loan, we will come back with an offer within 24 hours of your application. That way you can get cash in your pocket as soon as possible. Second, we offer the lowest rate in the industry guarantee. If someone else offers a better rate, we will match it. Finally, no matter the situation, if you lose your case or do not reach a settlement, you won’t owe us a penny.  Life won’t wait for your settlement, and you deserve an ally. You have one in Ally Lawsuit Loans, so […]

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Why Sell Your Structured Settlement and Annuity Payments

| Read Time: 4 minutes

Structured settlements and other forms of annuity payments are very useful financial products. With them, you can spread income through a repeating series of payments. For many people, annuities allow them to balance their finances and ensure financial stability in the long term. Sometimes, however, unexpected things happen in our lives. This is particularly true of finances. When accidents happen and bills need paying, there really are no two ways about it. In such a situation, the income you receive from your annuity may not be enough for what your current needs are.  Luckily, if you find yourself in such a situation, you still might have options. One of the best options you have is to sell your annuity payments. Ally Lawsuit Loans can help you by giving you cash for your annuity payments. Ally Lawsuit Loans can also serve you as a structured settlement buyer. By selling your annuity payments to Ally, you can take care of whatever your imminent financial needs are. How Do Structured Settlement and Annuity Payments Work? Not everybody knows about annuity payments and structured settlements. This is because, unlike a credit card, an annuity isn’t something we typically encounter in our day-to-day lives. If you find yourself on this page, someone might have already offered you an annuity or a structured settlement, so it is important to know how they work. Annuities in General Structured settlements are a form of an annuity, so it is helpful to understand annuities in a general sense before going into structured settlements.  At the macro level, an annuity is a contract between two parties. In the agreement, one party agrees to hold onto the assets of the other party and distribute those assets at set intervals. The assets are either transferred through a one-time payment or through periodic payments such as a percentage of a person’s paycheck.  Often, the party holding on to the assets agrees to invest the assets while they are in their control. This is typically what happens when workers pay into a 401k or other sort of retirement fund. They set up annuity payments for when they retire, thus ensuring stable income aside from social security or other government-funded retirement income. As with most contracts, the structure of the annuity is fairly open. As a result, annuities can come in many different forms. Structured Settlements A structured settlement is a specific type of annuity. Structured settlements arise out of claims in civil court. One party ends up owing another party for damages they caused them. Although litigants always have the option of recovering their damages in a lump sum, they can alternatively recover their damages at regular intervals by negotiating a structured settlement. If that happens, the defendant will owe the plaintiff a specified amount of money at whatever interval they agree to. How Can Selling My Annuity Payments or Structured Settlement Help Me? As we noted earlier, life is unpredictable. You may have negotiated a structured settlement or set up annuity payments for the future, but things change. Getting cash for annuity payments now helps you maintain financial flexibility. With that flexibility, you can take care of whatever your immediate financial needs are. Some of the most common things that people use their money for are: Paying bills,Starting a business,Buying a house, andPaying for school. You may still wonder, why sell my settlement payments? Won’t I lose money? Although you will often receive less money in the end by selling your annuity, that loss is often offset by the benefit of having cash in your hand now. To illustrate this, read through the following examples. Pay Bills If your bills are starting to pile up, it is often difficult to dig yourself out of a financial hole. As more bills come in and remain unpaid, they gain interest. Sometimes, as with credit card debt, that interest is no small sum. Regardless of what bills you have to pay, selling your annuity or structured settlement payment can help you dig out of the financial hole. Often, in the end, you will save yourself from paying a lot of interest in the future by taking advantage of selling your annuity payments. Start Your Own Business Owning a business is a significant part of “The American Dream” and our shared national heritage. After all, the wealth of our country was built by business owners. Even our founding fathers themselves were business owners. Getting your business off the ground, however, can take a lot of money. If you don’t have the resources to start your business, you might consider a business loan. Like other loans, a business loan will have an interest. If you have a structured settlement or annuity, however, you can get your business started now without losing a lot of money to interest on a business loan. Put a Down Payment on a House Like starting a business, buying a house is expensive. Nevertheless, buying a house is typically a financially prudent decision. Real estate tends to grow in value pretty consistently. Like other loans, mortgages have interest rates. As a result, in the end, you may pay six figures more for your house than you initially thought. The more you can put into your down payment, the less interest you owe. Thus, selling your structured settlement or annuity payments to help bolster the down payment on your home can save you a considerable amount of money.  Pay for College Like everything else in this list, college is quite expensive. Student loans are doubly so. You may have a child or grandchild that you want to help put through college, or you may want to go to college yourself. A college education will usually pay for itself in increased income over a lifetime, so college is a good investment. Whether you are saving for college for yourself, saving for someone else, or just want to pay off your student loans, selling your annuity payments can help you reach that goal. How Do I Sell […]

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Essure Lawsuit Loans

| Read Time: 3 minutes

Essure was a birth control product produced by Bayer Pharmaceuticals. In 2018, Bayer halted Essure’s distribution in the United States after safety issues arose with the product. In the years before its discontinuation, thousands of women suffered severe injuries after using Essure.  If you are one of those women, you can sue Bayer for damages or join a recent class-action lawsuit.  In any case, settlements can take a while. If you are pursuing an Essure claim but need cash now, an Essure pre-settlement loan from Ally Lawsuit Loans may be just what you need. With a cash advance for your Essure lawsuit, you can pursue your claim to its fullest without dealing with added financial stress. What Was Wrong with Essure? Essure was an internal birth control device. Unlike an intrauterine device (IUD), which is implanted in a uterus to prevent pregnancy, Essure prevents pregnancy via fallopian tubes. The device, two short metal coils that are placed into each fallopian tube, prevents pregnancy by creating scar tissue in the fallopian tube opening and thus blocking the ovaries. The injuries that Essure caused were excruciating. Some women reported that Essure pierced the walls of their fallopian tubes, causing intense pain. Others reported that the product came loose entirely. In both instances, aside from excruciating pain, other medical complications have arisen, including reproductive health issues. This was the case for some of those affected who ended up needing hysterectomies to remove the device. These problems are widespread. In fact, the FDA tracks and publishes incidents of problems related to Essure each month. Bayer’s Settlement In 2020, Bayer agreed to a $1.6 billion settlement in an Essure class action lawsuit. The money is meant to account for the injuries that Essure caused to thousands of women over the years. The $1.6 billion is intended for distribution to individual plaintiffs as well as those joining the lawsuit as a class. Thus, if you were injured by Essure, you can join the class action suit or file an individual claim. A Settlement Loan Can Alleviate the Stress of the Legal Process We know the legal claims process is a stressful one. It is particularly stressful if you are still dealing with your injury. If you are in pain or otherwise continuing to suffer from your injuries, you may also be unable to work. This can cause financial stress on top of everything else.  An Essure lawsuit loan can help alleviate financial strain so you can fight your case to the end. Don’t let the responsible party bully you into accepting a lowball settlement offer by exploiting your financial situation. Instead, let Ally Lawsuit Loans help you with your immediate financial situation so you can take the time needed to get the full compensation you deserve. Contact Ally Lawsuit Loans Today for Essure Settlement Loans If you need financial help while the legal process takes its course, apply now with Ally Lawsuit Loans for your Essure settlement loan. You don’t need the added financial uncertainty on top of everything else, so let us provide some relief. We offer financing within 24 hours, provide the lowest rate in the industry guarantee, and strive to lead the industry in every way. For more information on our lawsuit loans, be sure to check out our frequently asked questions page. 

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