Your Most Pressing Questions About Pre-Settlement Loans Answered
At Ally Lawsuit Loans, we are committed to offering plaintiffs better, faster, and more affordable pre-settlement funding.
If you are waiting for your personal injury settlement, your workers’ compensation payments, or the resolution of any other lawsuit, we have immediate funding options available.
Here, our lawsuit funding specialists answer some of the frequently asked questions we receive about pre-settlement lawsuit financing.
Will I Be Able to Qualify for Lawsuit Funding?
Your eligibility for a pre-settlement lawsuit loan will depend on a number of different factors; most notably, the value of your legal case and the likelihood that liability will be established. The more likely you are to win your case, the more likely your lawsuit loan application will be approved.
To be clear, your credit score and your personal financial situation do not matter. They will not be considered. Further, our company will not deny settlement funding because of debts that are unrelated to your case or other adverse financial information in your past.
Every application for lawsuit funding will be reviewed and assessed on a case-by-case basis. If you were injured in an accident and you are bringing a claim against another party, there is a good chance that you will qualify for some level of pre-settlement funding.Return to top ↑
How Long Does it Take to Get Funding?
Our team is committed to helping clients get lawsuit loans as fast as possible. When approved, you will receive your lawsuit funds in as little as 24 hours. How long will it actually take to get approval? The length of time will vary based on several different factors. In general, the most important variable is how long it takes us to get all of the relevant documents and records from your personal injury attorney.
The faster your attorney can supply our company with the information that we need, the sooner you will get your pre-settlement lawsuit loan. This means that you can expedite the process by working with your lawyer to get us the information more quickly.Return to top ↑
OUR LOWEST RATES: SETTLEMENT FUNDING
Find Out Why Ally Lawsuit Loans Offers the Best Rates in the Industry
How much will the interest rate be? It depends on the specific nature of your case. It is important to remember that we offer no-risk lawsuit funding.
Will My Personal Injury Attorney Be Involved?
Yes. Your personal injury lawyer will be directly involved in obtaining this loan. Not only will your lawyer need to submit some key information to our company, but your legal representative will also likely be required to sign a document called an ‘Acknowledgement by Counsel’ form that ensures that you fully understand the terms of the lawsuit funding agreement. We strongly recommend that you consult with your lawyer before signing any agreement with any lawsuit funding company.Return to top ↑
How Much Funding Will I Receive?
How much money you will be eligible to receive in pre-settlement funding depends entirely on the severity of your injuries and the strength of your legal case. As a broad rule, settlement funding companies will offer lawsuit funding that is worth somewhere between ten and twenty percent of the value of the underlying case.
That being said, regardless of how much you are qualified to receive, we strongly recommend that you only take what you actually need. Lawsuit funding is not free.
While Ally Lawsuit Loans offers funding at the lowest interest rate — 100 percent guaranteed — we do not want you to pay any more than is necessary. We simply want you to get the funds that you need to pay your medical bills, cover your living expenses, and support your family while you await your settlement.Return to top ↑
What are Your Pre-Settlement Loan Rates?
Pre-settlement lawsuit funding can be complicated. Unfortunately, there are some companies that offer this type of funding at high rates or with hidden fees. We are committed to providing plaintiffs with pre-settlement lawsuit funding at the lowest interest rate. The specific rate will always vary depending on the nature of your case.
The stronger the underlying case, the lower the financial risk for our company. We pass those savings on to our clients. That is what separates us from other companies. If you were seriously injured and you have a very strong personal injury case, we can offer you a lower interest rate. Remember, interest rate matters. As noted by the National Endowment for Financial Education (NEFE), compound interest can add up quickly.Return to top ↑
What Happens If I Lose My Case?
Unless your case has already been settled and you are simply waiting for the insurance company to process the check — meaning you might need post settlement funding — there is some level of risk involved with bringing a legal claim. If you are considering applying for lawsuit funding, you may be concerned that you will get stuck with the bill if you do not win your case. Do not worry. At Ally Lawsuit Loans, we offer clients risk-free funding.
A lawsuit settlement loan is what is known as a non-recourse loan. As explained by the Internal Revenue Service (IRS), a non-recourse debt is one that does not grant the lender the right “to pursue anything other than the collateral.” In other words, when we offer funding, we are purchasing a percentage of your future value your case. If that case turns out not to be worth anything — because the case was lost — then you do not have to pay back anything. No strings attached.Return to top ↑
How Do I Choose a Lawsuit Funding Company?
Picking the right legal financing company can be challenging. There is a seemingly never-ending list of options available. You need to find a reliable lawsuit funding company that will provide pre-settlement loans at the lowest rates and under fair terms. At Ally Lawsuit Loans, our company has your back when you need it most. We offer:
- The lowest interest rates — guaranteed;
- No hidden fees or disguised costs;
- Clear and concise terms;
- A fast and easy to understand application process; and
- Top-rated customer support services.
Get Help From Our Pre-Settlement Lawsuit Funding Specialists Today
At Ally Lawsuit Loans, our lawsuit funding specialists are standing by, ready to help you get access to the financial support that you need to pay your bills. We make applying for pre-settlement funding a breeze. To learn more about your options for a lawsuit loan, please do not hesitate to contact us today.