Top Reasons Why Plaintiffs Get Denied for Lawsuit Funding

lawsuit funding

When you’re involved in a lengthy lawsuit, your cash flow may run low as your stress runs high.

While your attorneys spend months negotiating a settlement, your bank account plummets. You may worry about paying your bills and wonder where to find funding for a lawsuit.

We have a simple lawsuit funding suggestion. During this long settlement process, you can apply for a lawsuit cash advance.

You may have some questions about a settlement advance.

  • What is a settlement advance?
  • How do you qualify for a cash advance?
  • Why would you get denied funding for a lawsuit?

Keep reading for answers to common lawsuit funding questions.

What is a Settlement Advance?

A settlement advance involves you borrowing from your future settlement award.

The simple process follows these four steps:

  • You apply with a lawsuit funding lender.
  • The lender talks to your attorney about the merits of your case.
  • The lender informs you if you qualify for a lawsuit cash advance.
  • The lender delivers your cash advance within 24 hours.

You don’t pay back your lawsuit advance until you receive your settlement award. If you don’t win your lawsuit, you owe nothing on your lawsuit cash advance.

How Do You Qualify for a Cash Advance?

Lawsuit cash advances differ from other loans.

For traditional loans, lenders qualify the borrower based on credit score and income. Instead, for lawsuit funding, lenders evaluate the borrower’s potential settlement.

Lenders gain the confidence to fund your lawsuit if they think that you are likely to win a substantial settlement.

After you apply for a settlement advance, the lender investigates your potential to win a settlement award. The lender calls your attorney to see where your case stands.

From this communication, the lender wants to learn a few things about your case:

  • How likely are you to settle?
  • When are you expected to settle?
  • How big of a settlement should you receive?

These case factors determine whether you qualify for a lawsuit cash advance.

Why Would You Get Denied Funding for a Lawsuit?

If a lender denies you a cash advance funding for your lawsuit, you probably feel disappointed. You may wonder what factors lenders evaluated before denying you funding.

There are several reasons why a lender may decide not to fund your lawsuit cash advance.

Cash Advances Violate State Law

Most states allow lawsuit cash advances. However, there are a few states that prohibit this form of financial assistance. Currently, three states ban settlement cash advances:

  • Maryland
  • Colorado
  • Tennessee

If you live in one of these three states, a lender cannot provide you a lawsuit cash advance. Even if you have a strong case, state law prohibits a lender from offering you an advance.

You Don’t Have an Attorney

A lender needs to speak to your attorney before offering a lawsuit cash advance.

If you don’t have an attorney, the lender cannot make an informed decision on your loan.

Even if you present a strong case, the lender needs to understand where you stand legally.

Hiring an attorney increases your settlement potential and settlement amount significantly.

A lender insists that you hire an attorney because the lender wants you to have the best chance at winning your case.

Hire an attorney to expedite your case and your potential for a settlement cash advance.

Most personal injury attorneys work on a contingency fee, meaning that you don’t have to pay your attorney up-front.

The contingency fee varies by the attorney. You should read your attorney-client contract carefully to make sure you understand contingency fee details.

A lawyer working on contingency wants your case to settle for as much as possible.

This motivation should make an attorney work even harder for you.

Consult several attorneys, and sign on with the one who seems like your best advocate.

You Have Other Funding

If you already have a cash advance, that doesn’t automatically disqualify you from obtaining a new settlement advance.

The second advance functions as a lower interest refinance on the previous settlement advance.

However, if you owe more than a lender thinks your settlement is worth, the lender won’t issue another advance.

After all, the lender needs to believe that you can pay back the advance.

Lenders don't issue a predetermined cap on cash advances because each case is unique.

Each advance depends on the settlement potential of the associated lawsuit.

If your previous advance balance falls below your potential settlement, a new lender could offer you another cash advance.

Get Pre-Settlement Funding Now

Even if a lender has denied your settlement advance before, we will give it a second look.

Some of the factors that disqualified you previously may have changed.

If you need cash while you wait for your lawsuit settlement, call us at (800) 760-0704 or apply today!

Settlement Checks: How Long Can a Lawyer Hold Money in Escrow?

| Read Time: 2 minutes

Litigation can last for months or years, so you probably felt excitement when you finally reached a settlement. However, your settlement award may be harder to access than you imagined. For instance, some lawyers hold your settlement check for months, delaying your access to the cash you need. The settlement check process is one more hurdle you must overcome in resolving your claim. So how long can a lawyer hold money in escrow? We give you an overview of the settlement check process here. Four Steps to Getting a Settlement Check To get your settlement check, you must resolve these four matters. Signed Release Forms When you reach your settlement, you must sign a release form. This form is a legal document that states you will not pursue further legal action on the same claim. Expect to sign a release form for each defendant in your claim. Your lawyer will carefully review the terms of the release form before you sign, and you can request modifications if necessary. Delayed Payment State law should give the defendant a timeline for paying the settlement. Some defendants wait until the last moment allowed by state law to pay your settlement, causing delays in receiving the money you’re owed. Check Clearance When the defendant pays your settlement, the money goes to your lawyer, who holds it in an escrow account. The check may take up to a week to clear, and then the funds are available to pay debts. Once the check clears, your lawyer takes their fee from the funds and next pays other liens and lawsuit-related bills. Settlement Lien Payment During your lawsuit, parties may have placed liens on your settlement. A lien gives someone else the right to your property to pay a debt. For example, if you have unpaid medical bills, the hospital or doctor may place a lien on your settlement. Your lawyer will also use your settlement funds to pay expenses related to litigating your case, including: Expert witness fees,Private investigator fees, andMedical examinations.  Your lawyer can quickly pay most liens on your account once settlement funds are available. However, government liens, such as those from Medicaid, can take longer to resolve. After your money moves through these four steps in the settlement check process, your lawyer sends the remaining balance to you. Unfortunately, delays at each step can cause you to wait weeks or even months for access to your settlement funds.  Access Settlement Funds Faster If you need access to your settlement check sooner, Ally Lawsuit Loans can help. Ally Lawsuit Loans offers cash advances on your lawsuit settlement. You pay back the cash advance when you receive your settlement.  Here are some things you should know about Ally Lawsuit Loans: We offer the lowest rate guarantee in the industry; You pay nothing back if you lose your case; and You can qualify for a lawsuit loan within 24 hours. To find out more about getting a lawsuit loan or to start your application, contact Ally Lawsuit Loans. You shouldn’t have to stress while you wait for the slow settlement check process, so we’re here to make the wait easier.

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How Much Is Your Slip and Fall Claim Worth?

| Read Time: 3 minutes

A slip and fall injury may seem like a relatively minor injury to some. However, if you have a slip and fall, you know that this isn’t always the case. Slip and fall injuries come in just about every form. Traumatic brain injury (TBI), paralysis, whiplash, and broken bones are just a few possible slip and fall injuries. Such injuries can be quite costly. According to the CDC, unintentional injuries cost Americans more than $450 billion per year in medical and work loss costs. Of those costs, more than one-third are from fall-related injuries. That means that fall-related injuries cost Americans about $150 billion per year. No metric would consider that amount insignificant. Lawsuit Loans Help While the Legal Process Runs Its Course If you have a slip and fall injury caused by someone else’s negligence, you are entitled to recover damages. If you’re reading this, you likely plan on hiring a lawyer to file a lawsuit or have already done so. Settlements don’t happen overnight, but medical bills come quickly, and life won’t wait for your settlement payment.  If you’re filing a lawsuit and need financial assistance while you wait for your case to settle, a lawsuit loan is an excellent option. Ally Lawsuit Loans is an industry leader in pre-settlement funding. If you’re considering pre-settlement funding, you will want to know how much you should borrow. A good way to answer that question is to ask about typical slip and fall cases’ payouts. While each lawsuit is different, a few factors can help you estimate what your slip and fall claim is worth. Estimating the Worth of a Slip and Fall Claim To get a general idea of what your slip and fall claim is worth, the most important things to consider are the severity and type of injuries and damages. Generally, the more severe your injuries, the more your claim is worth. More costs bring a higher settlement. To illustrate what this may look like in practice, consider two hypothetical examples. Example One In the first example, consider you have a severe slip and fall accident. You hit your head, suffering a concussion, and break your ankle while falling. An ambulance takes you to the hospital. There, your ankle requires surgery and a three-day stay to monitor your potential brain injury. You miss work during that time. Once your hospital stay finishes, you can’t work for a month as you recover from your surgery. Furthermore, you need physical therapy for a few months to fully heal. Luckily, the concussion does not leave long-term effects. However, you see a brain injury specialist a couple of times to ensure that more serious problems are not lurking below the surface. Example Two Now, consider a less severe slip and fall accident. In this case, you slip on a wet spot at the supermarket and fracture your wrist. Your spouse drives you to your physician the next day so you can get an x-ray. You find out that you will need to wear a cast for a few weeks. You have to miss work during that time, but otherwise, you fully recover. Comparison These two examples are drastically different. As such, the settlement of their clams will also be drastically different. The first example requires surgery, emergency transport, a hospital stay, continuing care, and medical specialists. Such costs add up very quickly, so to fully recover damages, the claim’s settlement will be very high. Contrast this with the second example, where you saw a normal physician and missed work. While such medical bills are not insignificant and missed work requires compensation, the final settlement will be dramatically less than the first example. The best way to estimate your settlement amount is to add up all the injury’s various costs. Your Attorney Can Help You Estimate the Claim Amount Your attorney can help you estimate your final settlement amount. They know all the facts and circumstances of your case. With this information and their prior experience with similar cases, they can help you add up all your injury’s economic and non-economic costs to come up with an estimate of your final settlement amount. Considering a Lawsuit Loan? If you’re considering a lawsuit loan for a slip and fall claim, contact Ally Lawsuit Loans today. Our application process is quick and easy. Furthermore, we offer a lowest-rate guarantee and 24-hour application turnaround. Best of all, if your claim is not successful, you won’t owe us anything. You deserve an ally while you wait for your settlement, so contact Ally Lawsuit Loans today!

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How to Calculate Knee Injury Settlement Value

| Read Time: 3 minutes

A knee injury can put you out of commission for quite some time. Such an injury can impact many facets of your life. Even a seemingly minor injury can worsen, and the ripple effects can compound quickly. One of the most common questions that people with knee injuries ask about is, What is the knee injury settlement average? If you are shopping for a lawsuit loan, this is an important question to ask. After all, you want to know how much you should borrow to cover your finances until the final settlement comes down. Every Settlement Is Different The question of average knee injury settlement amounts is difficult to answer quickly. Since every knee injury is different, and every accident that causes a knee injury is also different, every settlement is unique. The final amount of each knee injury settlement depends on a number of different factors and circumstances. However, with that said, a few things will help you estimate the potential size of your final knee injury settlement. Severity of Injury The first factor to consider in estimating the final settlement amount is the severity of the knee injury. A more severe knee injury is going to require more medical care than a minor knee injury. As such, the more severe injury will generally lead to a higher average settlement amount. Serious knee injuries may require ongoing physical therapy to recover fully, which will undoubtedly increase the final settlement amount. On the other hand, for a knee injury that heals without surgery and physical therapy, the final settlement amount will relatively speaking, be smaller. Type and Extent of Damages  To further estimate your final settlement amount, you can take stock of what damages you suffered as a result of the injury and the accident. Some of the types of damages that will push your final settlement up in value are: Property damage related to the accident;Emergency medical care at the time of the injury;Surgery to treat the injury;Physical therapy to recover from the injury;Other medical specialists to deal with the injury’s effects;In-home help while recovering from the injury; orMissing work as a result of the injury and its ensuing recovery. This list is just an example to show what different types of damages can arise from a knee injury. There are other types of damages that you may suffer from that will also increase your settlement’s final amount. Use this list as a starting point for your calculations. Generally, the more of these factors that are relevant to you, the higher your final settlement. Speak With Your Lawyer Perhaps the best way to get an idea as to what your final settlement will look like is to contact your attorney. Your attorney should know all the facts and circumstances surrounding your case. Your lawyer can then combine this information with their knowledge from prior experience in similar cases. Combining it all, your lawyer can help you calculate a rough estimate of what a fair settlement of your case will look like. Contact Ally Lawsuit Loans Today A lawsuit loan is always helpful to bridge the financial gap between filing a lawsuit and settling it. Whether you need financial help while waiting for a knee injury car accident settlement or a slip and fall knee injury settlement, Ally Lawsuit Loans is here to serve you. Ally Lawsuit Loans financing is always risk-free; if your case doesn’t settle, you won’t owe us anything. Furthermore, we offer 24-hour application turnaround and a lowest-rate guarantee. Life won’t wait for your settlement, so you deserve an ally. Apply with Ally Lawsuit Loans today!

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