Top Questions You Should Ask Before Getting Lawsuit Settlement Funding

Top Questions You Should Ask Before Getting Lawsuit Settlement Funding

At Ally Lawsuit Loans, we recommend that all our clients consult with their attorney before applying for legal financing with our firm.

Regardless of your application’s details, we will always need to talk to your attorney before approving your loan. We talk to your attorney to do a few things.

Namely, our purpose is to learn more about your case. The important information we need includes details like:

  • The entire narrative of your case from an outside perspective;
  • Your case’s chances of success or settling out of court; and
  • An estimation of the potential value of your claim.

We learn more about your case and its chances of success to determine whether we can viably finance your claim. If you lose your claim, after all, we cannot recoup our expenses in your case.

In the same way, we look at your claim’s potential value to determine how much we can offer to loan you. If we loan you more than your claim is worth, again we won’t recoup all our expenses.

Always Consult With Your Attorney

While we won’t deny your application outright if you neglect to speak with your attorney before applying, we highly recommend you do. That way, your lawyer is not caught off guard by our call, and everything will go as smoothly as possible.

More than that, however, it is important to speak with your attorney to learn more about legal funding and lawsuit loans in general.

Your lawyer is the third party to our transaction, so they have every incentive to give you their honest opinion. They also know what, perhaps, we don’t know about your case, and they may be able to offer some insight or advice.

The best way to approach your lawyer about legal funding is to do so with a list of questions in mind. That way, you won’t forget anything.

If you’re not sure where to start with your list of questions, feel free to borrow from our list of important questions you should ask before getting lawsuit funding.

State Limits and Restrictions

Always ask your attorney about your own state’s regulations on legal funding. While not all 50 states heavily regulate the legal funding industry, some do.

Some states allow lawsuit loans only for specific types of civil cases, while others limit interest rates. Your lawyer can tell you all the relevant regulations.

Prior Experience

Get an insider’s op[inion by asking your attorney about previous clients who have used lawsuit loans. Is it common? What was their experience? Are there any lenders you should watch out for? These are all valid and pertinent questions.

Reasonable Fees and Interest Rates

Talk to your attorney about what fees and interest rates are reasonable given your case’s circumstances. Your lawyer can help you parse through different loan agreements and help you spot any hidden or otherwise unreasonable fees.

The Value of Your Claim

Always ask your attorney how much your claim is worth. The value of your claim will end up dictating the amount of money you can borrow, so it helps to have a ballpark estimate beforehand. Always keep in mind that any estimate is just an estimate.

Your Case’s Chance of Success

Like your claim’s value, your chances of success will impact your lawsuit loan. If your case is likely to lose, your lawyer will know and tell you that your loan may not get approval.

If you find yourself in this situation, make sure you verify with your attorney that it is worth the time and effort to fight for your claim.

Ready to Apply?

If you’re ready to apply for legal funding, Ally Lawsuit Loans has you covered. We offer all our clients three separate guarantees:

  1. Lowest possible rates in the industry;
  2. Approval of your loan application within 24 hours; and
  3. Never pay us a penny if you lose your case.

With this guarantee backing all our lawsuit funding, you can rest assured that you are getting the best service that the settlement funding industry has to offer.

Don’t wait: talk to your attorney about legal funding, then apply with Ally Lawsuit Loans to get cash in your pocket ASAP.

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