6 Things To Know About Advance Settlement Funding

Reading Time: 6 minutes

If you are strapped for cash during a personal injury lawsuit and are unsure how to raise money to push your case and cater to daily expenses, advance settlement funding could be an enticing option for you.

Dealing with litigations is not the best experience because of how protracted they can get.

As if the stress of dashing in and out of courtrooms is not enough, plaintiffs also have to deal with the cost of medical treatment and, of course, living expenses. Additionally, medical expenses for car accident injuries, slip and fall, and medical malpractice victims, plus other costs such as rent and feeding, will continue to pile up.

This situation can worsen in cases of wrongful death where the victim is the family’s breadwinner, and the deceased’s family is left alone to fend for themselves.

Fortunately, you are not alone. Pre-settlement funding is an excellent option that assists you financially during the pendency of your accident suit, specifically when financial burdens arise.

And, if you are considering settling early and taking a low amount the defense attorneys are offering, step on the brakes and talk to your attorney about taking out an advance from your upcoming settlement. There is no need for you to settle your case for less due to financial concerns.

Let’s take a further look into getting a settlement advance, if you can qualify for one, and how it works.

Yes, if your case gets approved for funding, you can borrow money for your lawsuit settlement early through an advance settlement loan company.

An advance settlement loan is another term for pre-settlement cash advances, settlement funding, lawsuit loans, and pre-settlement legal funding. It allows plaintiffs to get cash in advance of their future settlement payments to cushion financial pressure during litigation.

Upon approval, you can get up to 10% in advance from your potential settlement or $1,500 to $2,000,000+ in funding while the case is still pending or settled, yet you are awaiting compensation. 

Advance settlement loans don’t require credit score checks or job status verifications. There are also no monthly payments. The loan has no risks due to its non-recourse nature, which means you will only repay it after receiving your settlement check.

If you lose your litigation and don’t recover any money, lenders will take the loss and they won’t seize any of your assets. That’s why guaranteed pre-settlement funding does not exist and there are some specific requirements lenders strictly impose before considering a case for an advance.

The eligibility for an advance settlement loan will depend on various factors. Without the following 3 key requirements, your advance funding application will get rejected.

2) What are the interest rates for advance settlement loans?

One question that is constantly poking the minds of plaintiffs is what the interest rates on lawsuit loans are.

An advance settlement loan has a higher interest than a conventional loan because it is based on expected lawsuit proceeds and not on credit scores or valuable physical assets. 

Unlike traditional loans, where you take loans that you must repay at agreed intervals, not to mention your credit score has to be in good standing, you’ll naturally get a relatively lower interest rate.

On the other hand, settlement advance companies don’t use physical collateral to secure the loan. Settlement funding is advanced only on the expectation that you will win your case. Which is the main reason why banks don’t provide settlement loans. In short, they don’t view your ‘future’ settlement as an asset or collateral.

If you are looking for an advance with lower rates than other funding companies, Baker Street Funding is among the few in the industry with strong capital to provide you with fixed low-interest rates and higher loan amounts.

While other lenders can offer you lawsuit settlement advance loans at compounding rates that can climb up to 100% a year, Baker Street Funding’s pre-settlement funding works differently.

We provide advance funding with fixed interest starting at 24% for attorneys up to 41% a year for plaintiffs, averaging 36% a year for strong personal injury claims. 

Our rates are capped in the third year, meaning if your case takes longer than that cap to settle, you do not pay any additional interest above the capped rate.

Pre-settlement funding is safe when the lender offers you capped rates and low fixed interest since it protects you and makes it possible for you to clear your debts and still have more than enough money left in your bank account after you get your settlement check. 


While applying for an advance on your settlement, it’s always best to take what you need. That way, it is easier to come back for more funding when needed.

Our pre-settlement loan calculator will help you determine costs.

3) How does advance settlement funding work?

Beyond offering plaintiffs the lowest cost pre-settlement funding for lawsuits, Baker Street Funding has simplified the process.

Here is how pre-settlement funding works.

  1. As a personal injury victim waiting to receive your compensation, you can get started by filling out our online application form. After formally filling out the request, our advance funding team will contact you to confirm your information and decide if your case qualifies for pre-settlement funding.
  2. Then, once our team evaluates your request and gives it a thumbs up, they will contact your attorney to request the case file and all information concerning your claim. Suppose your attorney responds with all requested documentation in good time; our underwriters will analyze your case merits within 24 hours. 
  3. Next, if you get the loan approval, you and your attorney will get a non-recourse advance funding contract to sign.
  4. Last, the agreed loan amount will be advanced to you once the settlement funding contract is dually executed. It usually takes 2 to 24 hours to release the funds.

And no, you can’t get the funds without your attorney’s signature on the contract, their cooperation, or their consent. 

4) Can your attorney provide you with a loan instead?

You cannot get an advance or funding from your attorney because it’s unethical and could cost them their license to practice. Other severe punishments include suspension or disbarment.

However, while your attorney cannot directly offer you an advance on your lawsuit settlement, they are very much allowed to guide you on how to get low-interest pre-settlement loans

Of course, they will point you to the best pre-settlement funding companies like Baker Street Funding, where you can get advance settlement loans the same day.

The icing on the cake is that your rates will be even lower if your attorney refers the case. 

5) How many advances can you get?

Considering how unpredictable court proceedings can be and how much you and your family will need to stay afloat until the case reaches a successful conclusion, it is understandable why plaintiffs often request additional loans. 

Contrary to popular misconceptions about plaintiffs getting more than one cash advance, you can apply for an additional pre-settlement loan.

However, your eligibility for an additional advance is dependent on the current value of the case and how much funding you received before from the other settlement lender.

Essentially, there is no limit to the number of times you can apply for more funding. 

6) Can you refinance a previous lawsuit cash advance?

It’s no longer news that personal injury claims often take longer to settle, and your day-to-day expenses may shoot beyond your budget. As a result, medical bills could be higher than you anticipated, and you will find yourself running on fumes. On top of it, funding from a predatory company can make it worse in the long run. 

If you have funding with another company and you want to lower your rates, you may be able to consolidate your previous lawsuit advance to reduce future costs. 

Not only could a lower rate save you money when your case pays out, but it could also be a solid way to get your bills back on track while your legal battle solves for maximum value. 

A cash advance from your settlement from Baker Street Funding can help you get the best interest rates. Plus, there are no hidden fees.

Our application process is remarkably fast, and you don’t have to fill out lengthy forms or wait long periods to get a decision. As soon as your funding request gets to us, we will contact your attorney for more information about the case and notify you when your application is approved.

To be sure if you qualify for additional money, apply with Baker Street Funding professional team to assess your case and guide you on how refinancing works. 

Why Baker Street Funding?

While you are searching for the best legal funding company for your case, it is advisable to opt for a reputable company — one that has the experience and knowledge of how low-interest loans work.

Baker Street Funding has excellent pre-settlement funding reviews that give plaintiffs an idea of the outstanding legal funding offers we make to our clients. Unlike other settlement lenders out there who lie about their cash advances, you don’t have to bother about hidden charges or fees and disguising terms.

Here is a recap of Baker Street Funding’s pre-settlement cash advances:

Personal injury lawsuits can undoubtedly toss in some unexpected financial challenges. But by stepping back and considering the pros and cons of your situation instead of merely reacting to those financial challenges, we can be better equipped to make intelligent decisions.

Applying for a Baker Street Funding cash advance on your pending settlement (or pre-settlement funding) is a wise option that can save you from much stress and bottlenecks.

  • Your legal funding application will be evaluated within 24 hours from when your lawyer sends the file and once approved, you can get pre-settlement legal funding of the agreed loan amount the same day or the next day.
  • Our legal funding application process is clear, understandable, and easy to follow through.
  • We offer low fixed rates for your advance, and no funding amount is big enough for us to fund.
  • You don’t need a good credit score or employment to apply for Baker Street Funding lawsuit cash advance. 

When applying for an advance on your settlement, it can be challenging to deal with other funding companies that constantly harass you to fund with them, on top of charging outrageous rates. We have taken steps to provide you with settlement loans advanced to you fast without the financial strain of high-interest delayed loans. 

If you think an advance settlement loan may be right for you, feel free to explore Baker Street Funding.

At Baker Street Funding, we give you the inside scoop on pre-settlement funding by covering a variety of ... financing and legal topics to help you made the best financial decision for you and for your case. Our experts break down complex ideas in a way that's easy to understand so you can stay informed on current trends as well as tips and fact checked information by the CEO and founder, Daniel Digiaimo. Furthermore, Despite its name, consumer legal funding is not a loan. If you don't win your case, no payment needs to be made back. To avoid confusion and simplify matters on, we'll use the word "loan" throughout this article.

See some of our settlement funding products

Learn more about pre-settlement funding

Select a legal funding service to get started. 

Attorney Requests

Lawsuit Loans

Litigation Funding

Personal Injury Loans

Settled Case Loans

Surgery Funding

Or just call us at 888.711.3599 to apply.