Pre-Settlement Funding FAQ

Your Most Pressing Questions About Pre-Settlement Loans Answered

Pre-Settlement Funding

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.  

Pre-Settlement Loan Questions Answered Here

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.

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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.

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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.


Click here to read about Ally Lawsuits rates


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.

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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.

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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.

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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.

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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.
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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. 

Unpaid Overtime Settlements – Lawsuit Loans

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It is incredibly common for employees and their employers to have disagreements or tension in the workplace. The most extreme forms of workplace conflict include discrimination, intentional harassment, and wrongful termination. However, one of the most frustrating ways an employer retaliates against an employee is by not paying them. Fortunately, the Fair Labor Standards Act of 1938 protects workers from bitter employers. Some employers, however, still refuse to pay their employees for their work after a disagreement. Taking an employer to court to get back those unpaid wages is a long, tedious process. If you filed an unpaid wages lawsuit, a pre-settlement loan from Ally Lawsuit Loans can help hold you over until your case settles. We provide cash advances to plaintiffs waiting for unpaid overtime settlements or general labor lawsuit settlements. Unpaid Wage Lawsuits – Facts & History in the United States Prior to the 1940s, it was common for employers to underpay workers. Due to several strikes and growing backlash against child labor, Senator Hugo Black introduced the Fair Labor Standards Act, which Congress passed in 1938. The act established a minimum wage, a 40-hour work week, and overtime pay. There are several other provisions that make this act a landmark in labor law. For example, the minimum wage must update with inflation and employers must pay time-and-a-half to employees who work overtime. Unfortunately, many companies still try to find ways around this legislation. One way an employer may sneak out of paying their employees is by making verbal agreements instead of written ones. Some may also distribute working hours in a way that prevents adequate payment. Many people don’t report their employers fearing that they may lose their job or more of their wages. Thankfully, attorneys help level the playing field by representing employees in unpaid wage lawsuits. What is My Unpaid Wage Claim Worth? The value of your unpaid overtime lawsuit depends on a lot of factors. Some plaintiffs may try to collect double overtime wages, while others might just get paid a lump sum for a project they weren’t paid for. State laws also change the value of an unpaid wage claim. For example, since minimum wage varies between states, a case may be worth more if you work in a state with a higher minimum wage. How Long Will It Take My Unpaid Wage Claim to Settle? A significant factor that affects the length and value of a case is the amount of plaintiffs. Some cases are between one employee and their employer, while others involve thousands of employees. In 2013, Bank of America paid a massive overtime lawsuit settlement of $73 million to 180,000 employees after having them work off the clock. In addition, some companies offer labor lawsuit settlements quickly to help them mitigate bad press. However, many companies may fight in court for as long as it takes. This makes it difficult to know how long it takes for a case to settle. If you find yourself filing an unpaid wages lawsuit against your employer, a loan from Ally Lawsuit Loans can help you while you wait for your overtime lawsuit settlement. How Ally Lawsuit Loans Can Help At Ally Lawsuit Loans, we understand how difficult an unpaid wages lawsuit can be. We provide pre-settlement loans for those waiting for their unpaid overtime settlements. It is easy to apply for our funding. After submitting an application, we review it with your attorney to determine the value of your case. If you’re approved, we can deliver cash to you within 24 hours. Most importantly, our pre-settlement loans are risk-free. If you do not receive a labor lawsuit settlement, you pay us nothing. Apply today or call (800) 760-0704 to learn more about our pre-settlement lawsuit loans.

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Pre-Settlement Funding & Personal Injury Loans in Las Vegas

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After an injury, you may be left struggling with medical bills, rent, mortgage payments, or general living expenses. Because of these additional financial stressors, going through a personal injury lawsuit makes paying the bills difficult. To reduce stress and anxiety, many people going through a lawsuit apply for lawsuit funding or injury loans. With a cash advance from Ally Lawsuit Loans, you can live comfortably and avoid financial stress while waiting for your settlement. We provide personal injury loans in Las Vegas and around the country. What is a Personal Injury Loan? A personal injury loan is also known as lawsuit funding or pre-settlement funding. Companies provide personal injury loans to victims of personal injury that are in the middle of a lawsuit. Since insurance companies often take months or years to settle a claim, plaintiffs are often stuck trying to recover financially from their accident. The loan is a type of cash advance. Once a company approves an application, they send money to the applicant. The loan accrues interest, usually compounded monthly at around 1-3%. The size of the loan depends on the expected settlement amount of the applicant’s case. If the applicant loses their case, they are not expected to pay back the loan. We give our personal injury loans in Las Vegas to individuals who cannot wait for their settlement checks in order to remain financially stable. In many cases, someone who sustains an injury has large medical bills and cannot work. However your injury happens, if another party is at fault, our lawsuit funding in Las Vegas can help. About Ally Lawsuit Loans At Ally Lawsuit Loans, we understand the financial, physical, and emotional stress of a personal injury case. When waiting for your settlement, you shouldn’t have to struggle with basic living expenses. We help plaintiffs remove that burden and help them when they need it most. Ally Lawsuit Loans provides personal injury loans in Las Vegas for all types of lawsuits and claims, including: Personal injury,Auto accidents,Workers’ compensation,Wrongful termination,Defective drugs, andDefective medical devices. Our application doesn’t require a credit check or employment. The only thing we consider when reviewing your application is the strength of your case. Once you apply for a personal injury loan in Las Vegas, we consult with your attorney and review your lawsuit. Upon approval, we deliver your cash advance. Nevada Communities We Serve – Las Vegas, Boulder City, Enterprise, Green Valley, Henderson, Laughlin, Pahrump, Paradise If you are a resident of Las Vegas or any of its surrounding communities and have an attorney representing your case, you may qualify for our lawsuit funding in Las Vegas. Apply for Lawsuit Funding in Las Vegas Now If you can’t wait for your personal injury settlement, apply for funding through Ally Lawsuit Loans. We offer risk-free personal injury loans in Las Vegas and guarantee the lowest rate in the industry. The application process is very easy and doesn’t require a credit check.  Most importantly, you don’t pay us back unless you win your case. We deliver cash for approved applications within 24 hours. Apply today or call (800) 760-0704 to learn more about our pre-settlement personal injury loans in Las Vegas.

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What is a Structured Settlement & How Do They Work?

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When you file a personal injury lawsuit, you eagerly wait for the day when your settlement payout arrives. However, you may not know about the many detailed decisions involved in the settlement process. For instance, should you accept a lump-sum payment or agree to a regularly disbursed structured settlement?  What is a structured settlement, anyway?   Structured settlements produce some distinct advantages, but they’re not ideal for every situation. If you’re considering a structured settlement, you can always sell it later (with court approval) for a lump sum.  STRUCTURED SETTLEMENT TYPES: Types of Cases Covered Under Structured Settlements Structured settlements first appeared under Canadian law in personal injury cases concerning a 1950’s drug that caused birth defects. From there, structured settlements made their way into common law legal systems, including England, Australia, and the United States.  Structured settlements took advantage of two changing elements in personal injury law: Rising personal injury settlement amountsChanging IRS law that waived tax liability In the US, structured settlements serve as an option in personal injury cases, including pharmaceutical injury and product liability cases.  STRUCTURED SETTLEMENT INFO: Pros and Cons of Structured Settlements Structured settlements provide both benefits and risks to plaintiffs. Here are some factors to weigh before deciding on a structured settlement. Pros of Structured Settlements: Steady income. Structured settlements provide a steady income for many years. You won’t be able to burn through your money quickly.Tax benefits. United States IRS rules give structured settlements favorable treatment. A person receives tax-free disbursements for the life of the structured settlement.Beneficiary allowed. Many structured settlements allow a named beneficiary to receive settlement payments if the plaintiff dies before the settlement pays out.Option to sell. Structured settlements can be sold or assigned through the courts. This option is useful for paying medical expenses or other debts.Stock market-proof. The stock market fluctuations don’t affect your settlement amount.  Cons of Structured Settlements: Loss of interest. You lose interest that could accrue if you got your entire payment upfront.Taxation. Some parts of a settlement award, such as punitive damages or attorney fees, may be taxed.Inflexible payment. Structured settlements stick to a set schedule and are not flexible to meet changes in your financial circumstances.Fees and penalties. Withdrawing from or selling a structured settlement brings fees and IRS penalties. STRUCTURED SETTLEMENT FAQ: How Does a Structured Settlement Work? When you file a personal injury lawsuit, your attorney will negotiate the best settlement for you. Though an attorney should always prepare for trial, most plaintiffs and defendants prefer to reach a settlement. In settlement negotiations, a defense attorney may present the possibility of a structured settlement. At that point, your attorney will bring the settlement option to you. After discussing the structured settlement, your attorney will ask whether you are ready to sign on that option. Once you accept a structured settlement, the defendant will pay you through installments of an annuity contract. You will receive regular installments over an extended period until you reach your full award. Defendants may purchase an annuity for the settlement from an insurance company. The insurance company is then responsible for managing the structured settlement. If a plaintiff later decides that they need a lump sum payment rather than installments, they can sell their structured settlement annuity. Companies such as Ally Lawsuit Loans offer a streamlined structured settlement cashout. The value of the structured settlement at the time of sale depends on: Payments disbursedAmount of scheduled paymentsInterest rates on the annuityInsurance company creditworthiness A judge must approve and sign on the sale of a structured settlement annuity. Apply for a Structured Settlement Today Now that we’ve answered your question, “What is a structured settlement?” you may be considering this option. However, maybe you already have a structured settlement but are looking for a way out of it. If your financial needs changed and you want a lump sum instead of structured settlement payments, contact Ally Lawsuit Loans. We can purchase your structured settlement annuity in exchange for a lump sum of cash. We offer 24-hour approval on structured settlement purchases. Then, we bring your structured settlement to the court for approval. Call us to apply for a structured settlement purchase or ask for more information about this option.  Lawsuit Company Funding Reviews - Reviews From the Web

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