What are Settlement Advances?

settlement advance loans

Waiting for a lawsuit settlement can be stressful and frustrating.

As the American Bar Association (ABA) explains, personal injury claims can take months or even years to reach a final resolution.

At Ally Lawsuit Loans, we know your bills are not going to wait that long. This is where a settlement advance offers an answer. 

In the most simple terms, a settlement advance is a way to trade part of the future value of your lawsuit settlement or trial verdict for immediate cash funding.

In other words, a settlement advance can be a cost-effective way for plaintiffs to get some much-needed financial breathing room while they wait for the defendant or insurance company to take action. 

Lawsuit Settlement Advances: Three Important Things You Need to Know

Settlement Advance Funding is Not Technically A Loan

You may hear a settlement advance referred to as a lawsuit cash advance loan, a personal injury lawsuit loan, or pre-settlement funding.

Indeed, many different terms are used within the industry to describe the same thing.

Notably, while a settlement advance is often called a “loan”, that is technically a misleading term.

Pre-settlement funding is non-recourse funding. This means that you are not required to pay anything if your case never settles or you lose it in court.

Instead of getting a loan, plaintiffs are “selling” a portion of their settlement for a cash advance. 

Eligibility Depends on the Strength of Your Case 

You are not automatically qualified for settlement funding.

Eligibility for this type of cash advance will depend on the strength and total value of your legal case.

To be clear, this means that your credit history is irrelevant.

At Ally Lawsuit Loans, we do not do credit checks, nor do we require income verification or employment verification.

Your financial circumstances will not block you from getting access to the cash advance that you need. 

The Cost of Lawsuit Funding Matters

Finally, it is important to remember that lawsuit funding is not free.

While there are no monthly payments and you will owe nothing if you lose your case, you are selling a portion of your settlement.

It is imperative that you look for a lawsuit lending company that offers affordable, fair rates.

At Ally Lawsuit Loans, we are proud to provide plaintiffs with the lowest rate settlement advance funding— guaranteed. We look out for the financial interests of our clients.

Our team wants you to take only what you need to pay your bills and support your family while you wait for the settlement check. 

Apply for a Lawsuit Settlement Advance Today

At Ally Lawsuit Loans, we are committed to providing the lowest cost settlement advances to plaintiffs.

If you are interested in obtaining a cash advance on a pending lawsuit, we are here to help.

We encourage you to apply now— you may qualify in as little as 24 hours. Have specific questions?

Our top-rated customer service team is standing by, ready to walk you through all of the steps of the application process. 

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

| Read Time: 3 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 timeline is one more hurdle you must overcome...

Read More

Settlement Funding for Civil Rights Cases

| Read Time: 3 minutes

The civil rights of Americans include rights to freedom and equality. The United States government grants Americans these rights without regard to race, national origin, religion, sex, age, or disability.  If someone violates your civil rights by discriminating, you may sue the perpetrator for the harm you suffered. Trailblazing Americans have used the legal system to fight for their...

Read More

Aduhelm Lawsuit Loans

| Read Time: 4 minutes

Nearly 500,000 new cases of Alzheimer’s disease are diagnosed every year in the United States. To slow the devastation caused by the disease, many drug manufacturers have begun trials for Alzheimer’s medications. One such manufacturer, Biogen, manufactured an Alzheimer’s drug called “Aduhelm.” Aduhelm is supposed to slow the progression of cognitive decline caused by Alzheimer’s with monthly intravenous infusions....

Read More