What is wrongful termination?
Wrongful termination simply means when a business fires an employee illegally from their job. The at-will employment law gives employers the right to hire and remove any employee at any time. However, they are strictly prohibited from sacking an employee for illegal reasons, such as those who fire people for discrimination or harassment purposes.
Common examples of wrongful termination lawsuits include:
- Racial discrimination
- Age discrimination
- Gender and sex discrimination
- Sexual harassment
- Overtime pay disputes
- Breach of employment contract
- Disability discrimination
- Wage and hour disputes
Employees whose employment contracts were illegally and wrongly terminated are backed by the Equal Employment Opportunity Commission (EEOC). If you’ve been unlawfully fired, you most likely have already sought legal redress and claimed financial compensation through wrongful termination lawsuit or claim with an employment litigation attorney. You may be able to qualify for an advance on your settlement by applying for legal funding today.
Applying for a wrongful termination lawsuit loan won’t affect your pending settlement or award proceeds since Baker Street Funding has absolutely no power over your case.
How much is a wrongful termination lawsuit worth?
The value of wrongful termination settlement depends on the nature of the claims. Most cases settle between $5,000 and $80,000, with an average of $40,000.
Plaintiffs in a wrongful termination lawsuit may be eligible to receive damages for:
- Loss of employee benefits
- Punitive damages
- Loss of insurance coverage
- Emotional distress
- Attorney fees, and
- Other legal costs.
Additionally, litigations, including wrongful termination lawsuits, can put one under financial pressure. The good news is you have the option to apply for wrongful termination lawsuit loans at such a difficult time to cover your expenses while your case gets litigated or fought out of court.
As long as your expected settlement value is over $50,000, your application will most likely get approved for funding with most lenders.
How do wrongful termination lawsuit loans work?
Wrongful termination lawsuit loans are simple cash advances you get at no risk where you can use the money to support yourself during your employment suit. This type of financing does not require you to pledge anything as collateral, such as your home or car. Settlement lenders also do not require financial statements, income verification, or credit checks.
Instead, a pre-settlement legal funding company will evaluate your loan application based on your case merits and the possibility of you winning it. Generally, they take a close look at how much your case is worth.
How do I apply for funding on my wrongfully termination case?
Applying for an employment lawsuit loan is fairly simple. All you have to do is apply online and provide the details of your legal case, injuries or damages sustained, and, most importantly, your attorney’s contact information.
However, it is very important to understand that your application will get rejected without an attorney’s representation or participation in the funding process. Most attorneys are understanding and work with funding companies to help their clients get the funds until they receive a wrongful termination settlement.
Your employment law attorney will be required to send case documentation proving the fault of the employee wrongfully terminating you before funding is approved. This documentation has to prove you have been terminated for an unlawful reason.
Once that’s done, underwriting will determine whether you are approved for funding, and this will be based on your potential settlement value. This part of the process takes 24 to 48 hours.
Once you are approved, you and your attorney will get a funding contract to sign. Upon completing the legal funding contract, you will receive your funds within hours if done on a business day.
Lawsuit funding is non-recourse, so there is no risk for you.
Legal advances from your wrongful termination lawsuit are non-recourse. You won’t repay the borrowed funds if you do not recover compensation from your legal battle.
It’s important to note that lawsuit funding is extremely risky for the pre-settlement funding company when investing in legal cases such as wrongful termination. Although you will not have to pay anything if you don’t win your case, the lender will lose the investment if your employment case doesn’t reach a settlement (or award) because the payment will automatically default. Under this event, the lender will take the loss.
How can Baker Street Legal Funding help my wrongful termination claim?
If you have been wrongfully terminated by an employee and have an active case against them, you may qualify for pre-settlement funding for your job lawsuit.
Baker Street Funding could help you get the money you need from your pending lawsuit in less than 24 hours from when your lawyer provides your case file. Our pre-settlement lawsuit loans carry lower rates than other legal funding companies without any hidden fees or markups, with rates starting at 2.95% to 3.4% per month.
Plus, if approved, you will get a capped rate capping in the third year of your loan.
All legal funding contracts are crystal clear for you and your employment attorney to understand, and you can get advanced funds in as little as 60 minutes from when you receive your lawsuit funding contract.
Fix your financial situation today.
Baker Street Funding serves and secures cash advances to employee victims who have been wronged by employers and have active lawsuits or claims with retained attorneys all across the United States. We have helped thousands of victims just like you, and it is essential to know that you are not alone.
Apply for a wrongful termination settlement cash advance today to help you get through your financial situation today.