If you were injured in an accident, the thought of bringing a lawsuit might seem overwhelming.
You may already be dealing with the financial fallout from the accident, including paying medical bills, hospital visit costs, and costs of medication.
So you may also be questioning if you can even afford a lawyer to bring a suit against the at-fault party.
Well, we have some good news for you. Lawsuit loans, otherwise known as pre-settlement funding, can provide some much-needed financial relief while you wait for your case to resolve.
At Ally Lawsuit Loans, we provide pre-settlement funding to struggling plaintiffs in a variety of different types of lawsuits.
But, you may still be wondering, What if I lose my case? Below, we will discuss some basics about lawsuit loans and we will answer that question for you.
So, What Are Lawsuit Loans?
Lawsuit loans, or pre-settlement funding, are not your average type of loan. In fact, lawsuit loans are really not loans at all.
They are more like cash advances on your future settlement or damages amount.
Why do we call them loans then? Because pre-settlement funding is a relatively new type of financing that people may not be familiar with.
So we use the term “loan” because that's what most people search for when they are looking for this type of financing.
A lawsuit loan, which you now know is more akin to a cash advance, is something you can apply for with the help of your attorney.
Once you apply, the funding company consults with your attorney about the details of your case.
After the consultation, your funding company offers you a “loan” amount that you pay back once your case has been resolved.
There is no credit check involved, and the application will not affect your credit score.
But, What if I Lose My Case?
You may still be wondering, Do I have to repay my lawsuit loan if I lose my case? The short (and sweet) answer is: No!
Pre-settlement funding is a form of non-recourse financing.
Non-recourse financing, in the context of a lawsuit loan, means that if you lose your case, you don't have an obligation to pay back the amount that you borrowed.
How Can Ally Lawsuit Loans Help You?
After an accident, we know that many injured victims may not be able to cover medical expenses, work, or pay for the legal costs involved in a personal injury suit.
Because we believe that all injured parties have a right to seek justice and compensation, we provide funding to those who need a little help while waiting for their lawsuits to settle.
At Ally Lawsuit Loans, we strive to provide you with a pre-settlement funding process that is transparent.
This way, you can know exactly what you're getting into. Further, we aim to provide the lowest rates in the industry.
If you chose us as your legal funding company, you can rest assured that you are getting some of the best rates available in the legal funding field.
If you have questions about our lawsuit loans, you can call us by phone at 844-661-2569.
Or if you're ready to apply, you can start by filling out an application online through our website portal.