Pre-settlement funding is a useful outlet for injured victims who are pursuing legal action in personal injury claims such as auto accidents, medical malpractice, and product liability. As plaintiffs recover physically and mentally from injuries or the loss of a loved one, they often face financial hardships. From mortgage payments and everyday costs of living to high medical bills, a pre-settlement loan can help you make it through this vulnerable time while you go through the litigation process.
A cash advance on your personal injury settlement is typically limited to 15-20 percent of the estimated value of your case. The goal is for modest loans that help you stay afloat and don’t threaten to take most or all of your settlement amount. Sometimes injured victims review their finances and come up with an appropriate amount they need to get through the coming months or year, but many of the expenses during litigation are unforeseen, especially if you’re unable to work and have ongoing physical therapy and medical care. So, in these cases, you may need to apply for a new cash advance on your settlement.
You may get more than one pre-settlement loan, but the total loan amount (including the previous payout) must stay under 20 percent of the lawsuit’s value. This limit is to protect you, the plaintiff, and the lending company as these loans are typically considered “non-recourse funding,” which means you may not need to pay back the cash advance if your case is lost.
Why Choose Legal Capital Corp for Pre-Settlement Loans
Many predatory companies are looking to capitalize on the desperate situations facing many injured victims, so it’s essential to speak with your attorney and choose your loan provider wisely. At Legal Capital Corp, we offer pre-settlement loans, but unlike many of our competitors, we don’t charge interest on these cash advances. Instead, there’s a capped fee of $600 for cases resolved within nine months and $1,500 for claims resolved after that period.
The application is not only fast and easy, but it’s also free. We understand you’re already in a financial bind and believe you shouldn’t have to pay a high fee just to find out if you’re eligible for pre-settlement funding. You simply fill out our online application, then we reach out to your attorney and request a few key documents. You’re approved or denied right away, giving you cash in hand within 24-48 hours.
It’s in your best interest to speak with your attorney beforehand because this will speed up the process and also gives your attorney the chance to learn more about Legal Capital Corp and go over the logistics of your case and potential settlement amount.
Contact Our Chicago Office About Pre-Settlement Loans
If you or a loved one is actively seeking compensation for an injury or loss in a personal injury lawsuit, Legal Capital Corp can help you make ends meet while you go through this rigorous and time-consuming legal process. Fill out our online application or call us in Chicago today at (312) 204-7939 to see if you qualify.
Legal Capital Corp often partners with personal injury lawyers and legal teams to provide cash advances to plaintiffs struggling to pay their bills.