Accidents and injuries often leave their victims in pain and suffering. The families of the victims are also not spared from the hardship that follows such unfortunate events.
During these difficult times, one factor that hits victims and their families is finance — money for medical bills, rent, settle debts and get by everyday expenses like feeding. Sadly, bills won’t stop coming, and they risk financial embarrassments like expulsion and repossession. Victims of accidents and personal injuries barely have enough strength to move around, and resuming work without full recovery will only set back their healing process.
What do you do in such trying times? You can apply for a pre-settlement loan or advance loans on settlements. Sometimes lawsuits get protracted, and things can take a surprising turn. If you have already received a pre-settlement loan, you may be eligible to be approved for more funding.
It’s not unusual for plaintiffs to request a second settlement advance loan during their litigation.
Often, the question that plaintiffs ask before taking out a pre-settlement loan is, “How many pre-settlement advance loans can I get?”
If you have this same question in mind, don’t overthink it because we will address your concerns in this article. At Baker Street Funding, we are committed to providing fast lawsuit loans. Our pre-settlement loans are flexible and unbelievably easy to get.
If you have already taken pre-settlement funding from us and are looking to get a second pre-settlement loan, you can apply again. Yes, you can apply for a second loan or even a third loan on your case—Baker Street Funding funds in most states across the United States.
However, getting additional pre-settlement funding depends on certain factors such as how much the case is worth, the nature of injuries, and the surgeries involved.
Who can apply for a pre-settlement loan?
The concept of lawsuit loans is relatively new. Many misconceptions surrounding lawsuit settlement loans prevent plaintiffs from reaching out to lawsuit financing companies for legal funding.
One such misconception is that lawsuit loans are illegal, and the industry is not regulated. Nothing could be farther from the truth because several states are beginning to regulate the industry.
Anyone who has filed a legal claim and has attorney representation (on contingency) can apply to answer the question.
Depending on the stage of the case, plaintiffs can apply for either pre-settlement loans (while litigation is ongoing) or post-settlement loans (when the case has settled in your favor but you are yet to receive the award).
The estimated value of a pre-settlement loan
At Baker Street Funding, we offer incredibly low-rates legal funding. Plaintiffs can get up to 20% for pre-settlement loans and up to 50% post-settlement loans. However, you are expected to have hired an attorney to represent you and attest that you understand our agreement’s terms.
Qualifying for a second pre-settlement loan
Like we mentioned earlier, it’s not unusual for litigations to take an unexpected turn. When confronted with such unforeseen circumstances, you may want to take out another lawsuit loan.
At Baker Street Funding, there is no limit on the number of times you can apply or take out advance loans on settlements. However, our professional underwriters will have to evaluate your settlement’s potential value and how much you took out on the previous lawsuit loan.
Speaking of the value or estimate of your potential settlement, the amount of the pre-settlement loan you will be eligible for depends on the nature of your claims and or the strength of your case. In simple words, the higher your chances of winning the case, the higher your lawsuit loan amount.
Most of the cases we fund at Baker Street Funding are civil or cases of injuries that need financing. Also, plaintiffs must have retained an attorney on contingency.
If your case checks all our boxes of merit and our underwriters give your loan application thumbs up, you will get your cash advance in full.
Even though we don’t dictate how you spend your money, we always encourage plaintiffs to only take the amount they need instead of taking large sums and becoming reckless in their spending. If you run out of cash after the first loan was approved and paid to you, you can always apply for a second pre-settlement loan.
How it works
Applying for additional lawsuit loans at Baker Street Funding is as easy as applying for your initial lawsuit loans. All you have to do is call your funding specialist to request more funding and let our underwriters get to work.
Once our underwriters get additional case information from your attorney, your additional lawsuit loan will be approved within 24 hours. The only delay you may experience occurs when your attorney doesn’t respond to our calls or provide necessary documents in good time. Having mentioned that, it is always best to work closely with your attorney at all times to avoid any hindrances to your lawsuit loan application and approval.
Why choose Baker Street Funding?
Well, if you want to get your lawsuit loans credited into your wallet fast, you should always deal with professionals. At Baker Street Funding, we have all the technical and intellectual expertise that’s committed to ensuring that your lawsuit loans get to you in the quickest possible time.
Here are reasons why you should opt for Baker Street Funding:
Get approval within 24 hours
Getting approval for additional lawsuit loans can’t be more accessible. All you have to do is call us, and you are done. Our team of expert underwriters will immediately get in touch with your attorney to obtain the necessary information about your case and finalize the agreement.
Hopefully, if your attorney is responsive and our underwriters are comfortable with every submission, you will get your additional lawsuit loan within 24 hours, without delay.
Lower rates for additional settlement advance loans
At Baker Street Funding, we don’t prey on plaintiffs or take advantage of their situations and slam them with high rates because they are desperate to get additional advance loans on a settlement. We understand how difficult trials can be, and we don’t intend to add to your pains and sufferings. Like we mentioned earlier, the value of your case, the amount of the previous lawsuit loan you took out, the nature of the injury, and the medical procedures involved will determine whether your lawsuit loan will be approved.
The funding is non-recourse
Don’t hesitate to apply for Baker Street Funding lawsuit loans because of the word “loan.” What we give to plaintiffs is best described as a cash advance on your potential settlement. We estimate the value of your lawsuit loan based on the nature of your claims and the chances that the case will settle in your favor. You are also not under any obligation to repay the pre-settlement loan if you don’t win the case. Unlike traditional loans from banks and other lenders, you won’t be paying both principal and interest. You only pay if you win the case!
Excellent funding service
In addition to our transparent and equitable lawsuit loan application process, our lines are also open to discuss your concerns about taking additional lawsuit loans. At Baker Street Funding, we are committed our providing fast financial aid to plaintiffs during their difficult times.
Also, if you have already taken out a previous lawsuit loan from Baker Street Funding, feel free to call our team of professional underwriters to evaluate your loan eligibility.
Do you need to apply for a lawsuit advance? Call us at 888-711-3599 to get started or apply now.