Is There a Maximum Amount I Can Receive for Legal Funding?

maximum amount i can receive for legal funding

Waiting for compensation from your lawsuit can be challenging. Settlement negotiations take time.

And if your case goes to court, receiving your compensation can take longer. Meanwhile, your financial situation may be in ruins.

A pre-settlement loan (also called legal funding or a lawsuit loan) is a cash advance on your expected lawsuit settlement.

The maximum amount of legal funding you can receive depends on the facts of your claim.

At Ally Lawsuit Loans, we can help you get your money fast and get your life back on track while your lawsuit is pending. We can be your Ally.

How Much Is the Maximum Amount for Legal Funding?

Generally, there is no set rule on how to calculate the legal lending limit. The maximum amount depends on the facts of each case and what your settlement is expected to be. At Ally Lawsuit Loans, we have provided lawsuit loans from $500 to up to $750,000.

Factors we consider when determining the amount of a lawsuit loan include:

  • Type of claim. The type of claim may affect the amount of legal funding. Some states may have set statutory limits on the amount of compensation for some claims.
  • The severity of injuries. The more severe your injuries are, the higher the medical bills are. Bills can include doctor visits, hospital stays, prescriptions, rehabilitation, and therapy.
  • Effect on employment. The amount of legal funding also depends on how much income you lost from time off work. Any future earnings that were affected can also be considered.
  • Property damage. Any property damage is factored into the calculation of legal funding.
  • Punitive damages. Punitive damages may be considered if permitted under state law for the particular claim.
  • Statutory limits. Some states limit the amount of legal funding a person can receive per claim. For example, Nevada caps pre-settlement loans at $500,000.

Generally, the higher the predicted settlement is, the higher the amount of legal funding.

What Are the Criteria for Legal Funding?

Approval for legal funding is handled on a case-by-case basis. The criteria scrutinized include the facts of your case, the merits of your claim, and the likelihood that you will succeed.

Note that your credit score and financial situation are not factored into the legal funding approval.

How Does Legal Funding Work for a Lawsuit?

The following are the steps to receive legal funding:

  1. Contact Ally Lawsuit Loans. Call us or contact us online. We will ask you to give information about yourself and your pending claim.
  2. Discussion with your lawyer. We will speak with your lawyer to better understand your lawsuit.
  3. Deliberation. We will analyze your application. If we decide to move forward, you will get your funding approved and money sent to you in as little as 24 hours.
  4. Cash advance. Money can be sent to your bank account, mailed as a check, or sent with Western Union.

Interest rates with Ally Lawsuit Loans depend on your case. We guarantee the lowest rates. Also, our lawsuit loans are non-recourse. That means you don’t have to pay us back if you do not receive compensation for your claim.

Can I Get More Than One Pre-Settlement Loan?

Yes. It is generally permissible to take out more than one pre-settlement loan. Common reasons for applying for an additional pre-settlement loan include:

  • The claim takes longer to settle,
  • Bills are too expensive to maintain, and
  • Time off work is more than expected.

If you did not meet the limit with your first pre-settlement loan, you may be able to take out additional ones.

Contact Ally Lawsuit Loans for Your Legal Funding

You don’t have to struggle financially to make ends meet while waiting for your lawsuit to settle.

Ally Lawsuit Loans can help you get an advance on your settlement so you can get the cash you need now.

We guarantee the lowest interest rates, and you won’t owe us anything if you lose your case. Apply for a pre-settlement loan now, and see how we can help you.

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