Plaintiff Legal Funding: How it Works

When you get injured in an accident, you might struggle to keep up with your finances. Since many personal injuries take a while to recover from, you may not have enough money to pay for medical bills, rent, utilities, groceries, or other expenses.

Thankfully, you don’t need to suffer through financial strain while waiting for your settlement. At Ally Lawsuit Loans, we provide plaintiff legal funding for those who can’t wait for their settlement.

What is Legal Funding?

Plaintiff legal funding, often referred to as pre-settlement lawsuit loans, are cash advances sent to plaintiffs with an active lawsuit in exchange for a portion of their settlement. Unlike regular loans, lawsuit loans do not require a credit check or income verification. In addition, they are non-recourse, which means you don’t have to pay back the loan if you lose your case. 

Plaintiffs use legal funding to pay for many types of expenses while they wait for a settlement, including any medical treatment they receive due to their injuries, general living expenses, and even legal fees. 

Steps to Receive Plaintiff Legal Funding

If you need cash to keep you afloat after being injured in an accident, here are the steps you need to take to receive plaintiff funding.

Retain Legal Representation

In order to qualify for a lawsuit loan, most reputable lenders require you to have a lawyer and have an active lawsuit against another party. If you file a lawsuit and decide to represent yourself, you cannot get legal funding.

Discuss Plaintiff Legal Funding With Your Lawyer

Once you have a lawyer, discuss your funding options with them. Your personal injury lawyer will help you determine whether a lawsuit loan is right for you or if you have any other options. Typically, individuals who cannot work and don’t have enough money to pay for basic living expenses use legal funding more often than those who have cash reserves.

Apply for Legal Funding

Submit an application for plaintiff legal funding to a trusted lawsuit loan lender. At this stage, the lender reviews the details of your case to determine if you qualify for your requested loan amount.

Ask Your Lawyer to Send Case Information to the Lender

Before the underwriting process begins, your lawyer must send case information to the lender. This helps the lender determine the strength of your case and the likelihood of you receiving a settlement. Make sure to tell your lawyer about your application before you submit it.

Get Approved and Receive Your Cash

At Ally Lawsuit Loans, we approve most applications within 24 hours. Once approved, there aren’t any extra origination fees or out-of-pocket costs. We send you cash advance immediately by wire transfer, check, or money order; whichever you prefer.

Contact Ally Lawsuit Loans Today

We understand the stress and anxiety that plaintiffs go through while recovering from their injuries. You shouldn’t have to suffer from financial instability after an accident.

At Ally Lawsuit Loans, we provide pre-settlement legal funding to plaintiffs while they wait for the outcome of their lawsuit. Whether it is an auto accident, a workers’ compensation claim, or medical malpractice, we are here for you. We have the lowest interest rates in the industry and offer 100% risk-free loans. That means if you lose your case, you don’t have to repay anything.

Apply for a lawsuit loan online today or give one of our specialists a call at 844-545-6246 to learn more about our plaintiff legal funding.

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