If you have a pending labor law lawsuit, you are likely worried about paying bills and living expenses.
Labor law lawsuits can take a considerable amount of time to resolve, which means you are left waiting for your potential settlement.
Consider labor law lawsuit funding instead of waiting a year or more for your case to settle. Consumer legal funding through Ally Lawsuit Loans can help ease your financial worries during pending litigation.
Although pre-settlement legal funding is often called a lawsuit loan, it isn’t necessarily a traditional loan. The reason is that you don’t have to pay the funding back should you lose your case.
Your funding is a non-recourse cash advance rather than an actual loan. However, it is typically referred to as a loan in the industry for simplicity.
Also, most companies use the term loan because most people have not heard of non-recourse cash advances.
How Labor Law Lawsuit Loans Work
Labor law lawsuit funding can provide someone with the cash needed for living expenses. This assistance can be critical to help plaintiffs while they are fighting to obtain the maximum settlement possible in labor law lawsuits.
As previously noted, labor law lawsuit loans are not loans in the traditional sense. If a plaintiff receives funding and loses their case, there is no repayment schedule.
There are no harassing bill collectors or negative marks on the person’s credit. Labor law lawsuit funding is a risk-free option to get money from a potential settlement.
How Can Labor Law Lawsuit Funding Help You?
Applying for a lawsuit loan can provide much-needed financial assistance while litigation is pending. It is available for many different case types, including labor law lawsuits.
Legal funding companies like Ally Lawsuit Loans can give you money that you need to cover essential expenses you are facing after an accident.
You can use the funding in various ways. Some of the more common expenses that labor law lawsuit loans are used to cover include the following:
- Medical bills accumulated to date,
- Lost wages,
- Rent or mortgage,
- General living expenses,
- Car payment and related costs,
- Entertainment costs,
- Insurance policy premiums, and
Depending on the circumstances, your lawsuit could take years to resolve. Bill collectors aren’t going to be understanding or put your payments on hold for months or years waiting for the outcome of your case.
The stress and financial pressure of covering your bills are enough to force some people to take a lower settlement. However, with lawsuit funding, you can take care of your bills in a timely manner.
Once your pre-settlement funding is approved, you have the right to spend it however you need. Should your attorney negotiate a settlement or a jury issue an award, repayment will come from your settlement or award.
Federal Employers Liability Act (FELA) Lawsuits
The Federal Employers Liability Act (FELA) covers injured railroad workers. The act applies to railroads and employees. The United States Congress passed FELA in 1908 because the railroads had not yet created their own protections.
If you are the victim of a railroad accident, you could potentially qualify for a FELA labor law loan. There are several requirements to qualify for a FELA lawsuit loan, which you may already have met.
To apply for a FELA lawsuit loan, you need to:
- Be over the age of 18,
- Have filed a FELA claim in court, and
- Have an attorney representing you on a contingency basis.
There are not many qualifications for these types of cases. The reason is that the details of your case will determine whether you will be approved and for how much. Ally Lawsuit Loans doesn’t do any credit checks, so there are no inquiries on your record. Your potential settlement is the collateral in your case, not your personal assets.
How Much FELA Labor Law Lawsuit Funding Can You Receive?
The specifics of your case will determine how much funding you might receive. Every case is different, so there is no set amount. Some of the most critical determining factors include:
- The severity of your injury;
- Whether your injury is permanent;
- Any disfigurement;
- Medical bills, including expected medical expenses;
- Lost wages;
- Loss of earning capacity; and
- Aggravation of a pre-existing condition.
Someone who was hospitalized and is permanently injured is more likely to receive more money than someone who healed quickly from their injuries.
Your attorney will discuss with you what your potential case is worth.
Applying for Labor Law Lawsuit Loans with Ally Lawsuit Loans
Are you interested in applying for labor law lawsuit funding through Ally? Start by calling one of our helpful representatives or contacting us online to apply for funding.
You will need to provide some basic information about you and your claim. All Ally, we will work with your attorney to review your lawsuit. Our goal is to understand your case and your potential settlement.
Assuming your case is a good fit, we will approve your labor law lawsuit funding right away. You could have your money within 24 hours of approval.
Ally Lawsuit Loans offers some of the lowest rates in the industry. We can beat other companies because we keep our rates as low as possible by not accepting every case.
Your interest rate is not dependent on your creditworthiness. We won’t verify your employment history or income either.
Contact Ally Lawsuit Loans Today
Ally Lawsuit Loans offers the lowest lawsuit loan interest rates and no hidden fees or unfair financing charges. Our agreements contain language that is clear and concise.
If you have any questions, our representatives can assist you with answers. Don’t add to your financial concerns by waiting until your case settles to receive your money.
Labor law lawsuits can take years to resolve, while you are left struggling to pay your bills in the meantime.
We understand what a stressful time this is for you and your family. Let us be the ally you need during pending litigation. Contact Ally Lawsuit Loans today.