Pre-settlement lawsuit loans in 24 hours or less.

You first have to understand that this is not a typical type of a loan. Lawsuit funding is an investment made on a portion of your expected settlement. This type of investment is the bridge between the money you need and the available funds a funding company has, so you can keep your case going.  Pre-settlement funding or lawsuit loans are non-recourse transaction agreements, meaning You are not required to pay back the granted funds if your case is lost. 

Baker Street Legal Funding can buyout any pre-settlement funding contract no matter the size. We offer plaintiffs the ability to consolidate their previous advances and save money on future payments. Plaintiffs seeking their 2nd pre-settlement loan rely on Baker Street Legal Funding because of better treatment and a lower consolidated rate. If you have previous funding and need more money, as long as you have a strong case, you may get a cash advance on your pending litigation. 

Additional settlement funding requirements:

• Your claim has to have progressed since the last time you received funding, either procedurally or through the plaintiff having further medical treatment.
• The case value needs to merit additional pre-settlement loan.
• There can not be any open appeals.

You can get as many pre settlement loans as your case supports. If your case is  strong, you will be able to apply for funding whenever you need it. Not every case is large enough to warrant multiple fundings but 80% of the cases we underwrite come back three or more times for funding.

Non-recourse transactions and carry no risk for the plaintiff because if for any reason your case doesn't successfully settle, you will no longer be responsible for the payment. Nevertheless, non-recourse transactions are risky the pre settlement funding companies because we don’t look into your credit history nor work background, we only rely on your case value, how risky the case is and the percentage of your case settling successfully. ​

Lawsuit loans can be beneficial in cases of personal injury where severely hurt plaintiffs cannot work during the lawsuit process. Medical bills will stack up but also your everyday bills. Not being able to pay for utilities or even your next lunch meal can be disappointing and financially draining. This is why lawsuit funding is extremely popular with personal injury victims who find themselves injured while their case is being litigated. For example, a medical malpractice plaintiff who finds himself hurt and out of work will seek financial assistance due to the sustained injuries that have caused him or her an economic fall.

Acquiring the funds you need allows you to deal with the insurance company's long settlement waiting period. Whether it is employment discrimination or a wrongful imprisonment claim, a case loan may help you achieve a more rewarding settlement check. It would be best if you didn't fall victim to the insurance company's maneuvers that not only make you wait long periods to offer a reward but an undervalued compensation. A lawsuit loan, aka pre settlement lawsuit funding, can help you say no to the defendant so you can support yourself in the time being while your case goes to trial or you finally get the settlement award you deserve.

We offer multiple legal funding structure to help create a bespoke finance agreement specific to your case and situation.

Settlement advances do not involve credit checks or job verification and they are solely based on the funding company’s analysis of your case and the probability of it being successful. 

The repayment of funds is wholly contingent upon the successful settlement of your litigation. The payment is dispersed to the funding company only when:

1.  Your settlement check arrives;
2. The balance is paid to you;
3. And, after your case has already closed. 

Pre-settlement funding companies make a profit only if a case settles, and the payment is predetermined on contract. You are not required to pay the company if your claim is lost.

No. For all pre settlement loan requests, you must be represented by an attorney.  Pre settlement loan companies are paid by your attorney and only if your case is won. The reason why this is, is because the loan is based solely on the merits of your case, we are not basing the advance on your assets, your credit nor job status.

Loans against lawsuit's approvals typically take an analyzation period of 24-48   from the moment your attorney provides your case file to the moment you get paid. If you are looking for other products such as litigation funding or attorney funding, the process can take a little longer.

No. The approval amount is determined by the lawsuit settlement loan company, not your attorney. The firm analyzes the merits of your case and determines how much of the future estimated settlement amount they can make available to you today.

Pre-settlement loan companies use certain prerequisites to get a lawsuit advance pre-approval. Please be advised that depending on your case, more or less may be needed in order to qualify for the loan.​

The qualification requirements consist of:

• An attorney must represent you.
• Your case must be strong enough to win.
• For settled personal injury lawsuits, a minimum settlement of $50,000 is required for funding.
• Your attorney’s co-operation is a must. Without it, we cannot fund your case

If you have a pending claim for an auto accident, medical malpractice, wrongful death, slip and fall, nursing home negligence, truck accident, or another personal injury claim, you might be eligible for a lawsuit advance. Lawsuit advance companies require you to have a retained an attorney and for your case to be solid. If your lawsuit is valid, your claim is strong, and you have a high probability of winning it, then more than likely, your case qualifies for a lawsuit advance. To see if you are eligible, please fill out an application online or over the phone at (888) 711-3599.  

A settlement advance is the financial backing provided to plaintiffs with pending claims and in need of immediate cash. Lawsuit loans or settlement advances are commonly used terms to describe pre-settlement funding, yet, they carry the same definition. Lawsuit settlement loans are not considered loans because the lending firm doesn’t base the advancement on credit scores or job status. All pre-settlement funding provided is non-recourse, and the lawsuit cash advance you’ll get, will be based only on the proceeds of your coming settlement. Nevertheless, if your case does not reach a successful settlement conclusion, the funds provided to you do not have to be paid back. 

Investopedia describes non-recourse loans very well in this article: “Non-recourse debt is a type of loan secured by collateral, usually property. If the borrower defaults, the issuer can seize the collateral. Still, it cannot seek out the borrower for any further compensation, even if the collateral does not cover the full value of the defaulted amount, especially when the borrower does not have personal liability for the loan. Recourse debt allows the lawsuit lender to go after the borrower for any balance that remains after liquidating the collateral. For this reason, lenders charge higher interest rates on non-recourse debt to compensate for the elevated risk.” 

Plaintiffs in need of a cash advance against their pending settlement should learn what the types of lawsuit settlement funding solutions are, and decide whether it is something to consider. Legal funders generally offer two types of lawsuit settlement funding services to plaintiffs involved in civil lawsuits. These services are pre-settlement funding and post-settlement funding.

• Pre-Settlement Funding

Simply put, pre-settlement funding (or lawsuit loans) are cash advances in the form of a check or a wire, provided to plaintiffs when the case has not yet settled, and the award amount of the claim is unknown.  Personal injury claims, motor vehicle accidents, and wrongful imprisonment lawsuit loans are the most typical types of cases we fund, and they carry higher interest rates than post-settlement advances (settled cases) because of the extra risk involved in the pre-settlement, meaning, no-win, no-pay, the pre-settlement loan company loses. 

• Post-settlement funding

Post-settlement funding companies also provide settled case lawsuit loans to plaintiffs with a pending settlement award, but the victim has not received payment yet. While there is a lower risk, these cash advances are not risk-free because there is still a chance that the defendant can default on the judgment and not pay.

Traditional bank lending is an alternative to lawsuit financing. The problem is you can't access it with bad credit, no job history, or a large amount of outstanding debt. You also cannot access if you had a bankruptcy recently and other hindrances that don't apply. You can also try to look into leveraging an asset such as a home, an automobile, borrow money from family members and friends. If you can't do that, your only other option is a pre-settlement cash advance. Unlike traditional financing, when you get approved for pre-settlement funding, your loan will be strictly based on the merits of your case and nothing else. 

As with any financial transaction, knowledge is vital. Educate yourself on how a lawsuit loan works and always research the funding companies’ background. Always work with a pre-settlement loan company you trust or get a second opinion. This could save you thousands of dollars when your case settles.

It is crucial you answer the following questions before signing a settlement advance contract with any funding company:

• How fast is the firm?
• They say 24-48 hours, or is it taking longer?
• Are they invading your personal privacy?
• Are they calling you late at night?
• How do their representatives treat you?
• Do they offer a contract price match?
• Are their rates transparent on the contract, or are there any hidden fees?
• Are they working with ethics?

If you have a lawsuit and need money now, then a pre settlement cash advance may be right for you. Most plaintiffs in need of pre settlement cash advances are in a financial crisis and unable to obtain traditional bank financing. If you are a plaintiff and find yourself unable to make ends meet, you may be able to borrow money from your lawsuit settlement so you can cover for your life’s expenses. A pre settlement advance helps plaintiffs attain financial assistance while the case is still litigating. A lawsuit loan could be beneficial for you as long as you understand the rate is fair for the risk that the lawsuit funding company is taking. Pre-settlement funding can be a great tool to help you fight for the award you deserve. No one wants to settle for a lowball offer from the insurance company because rent is due or bills are up.

Non-recourse advances serve the needs of plaintiffs that are having money problems while waiting for their cases to conclude. Here are some reasons to consider getting a lawsuit cash advance:

• Facing eviction or foreclosure
• Purchase or lease a vehicle
• Keep your small business afloat
• Need money for finish a college degree or professional training
• Need money for your children’s education
• Supplement disability payments
• Improve credit score by paying down bills
• Resolve claims against you by collection agencies.

It’s important to thoroughly assess your entire financial picture before taking out a loan against your pending lawsuit. Once you’ve made the decision that you would like to apply for a lawsuit loan, be sure to select a trustworthy settlement lending firm to work with. 

Plaintiffs typically look at other financial options for funding before turning to lawsuit loans. These options could involve bank lines of credit, reverse mortgages, borrowing from friends and family and other options. While some of these options can carry less interest than a lawsuit loan, they can also be based on factors like personal credit and job history.

If you do not have a spotless credit score, then many banks will not lend to you, and most plaintiffs find themselves in a position where they cannot pay their bills. While their credit is negatively affected, they are unable to get traditional financing from banks. Conventional banks do not recognize the proceeds of a lawsuit as collateral; fortunately, lawsuit loan companies do.

Pre settlement funding companies were designed to provide plaintiffs with upfront money secured against their lawsuit’s future settlement or judgments. Although pre settlement funding is also known as a lawsuit loan, these legal finance agreements are not considered loans.

Settlement funding is a non-recourse funding contract. Unlike a traditional bank loan, there are no monthly payments and no obligation to repay the money if the case does not settle favorably. There may be fees associated with an advance, but all fees are paid upon the once the claim has successfully settled.

The settlement funding process consists of the analysis of your case for the purpose to underwrite a settlement advance through the following three critical factors:

• Fault

The first thing the pre-settlement loan company looks at is fault; all the facts surrounding the incident, as well as the police report (if applicable), or any other supporting documents to verify that the defendant in your case is at fault.

• Injury

In accident cases, the second thing a pre-settlement advance company will look at is injury. Ambulance and emergency room report and any other medical files so that underwriters fully understand the extent of your injuries. If needed, many lawsuit lending companies also provide surgery funding to help you pay for medical procedures as a result of the accident.

• Insurance

Finally, the lawsuit lender will look at the defendant’s insurance coverage. This part is simple: underwriting will ensure the defendant in the case was sufficiently insured to cover the damages and injuries that resulted from the incident.

The approval process consists of the following:

• Your application 

Baker Street Legal Funding’s team of settlement loan advisors will handle your application’s intake and review. Depending on several factors, you will either be funded by us in house or with one of our partner firms with a relationship based rate. Your application acceptance will be based on our initial phone call where you will provide publicly available information about your claim. If interest is expressed, we may require further documentation as well as require a scheduled call with our attorney. The process begins with the settlement loan company contacting your attorney to find out more about your case so that they can determine whether or not it’s a good risk. Remember, they only get paid if your attorney collects money for you. Since attorneys also work on contingency, there’s a good chance that if your attorney thinks your case is worth investing in, then the funder will agree. 

• Your attorney 

The pre-settlement loan company will want to know how the accident happened and how severe your injuries are. Our team will work with your attorney to ensure our underwriters understand your case and get you the most available funding. Baker Street Legal Funding requires you to be represented by a bar licensed attorney and for that attorney to participate in the due diligence process. Remember, the faster your attorney responds to the funding firm’s questions, the quicker your lawsuit loan application will get approved.

• Our underwriter 

Case review consists of a call with your attorney to address any questions about your case. After that conversation, our underwriter will issue an approval or denial, depending on how high the value of your case is. If approved, we will send out paperwork for you and your attorney to sign.

• Your approval amount 

The funding amount will be based on how much money underwriting believes your case will likely settle for. For example, underwriting will not  loan somebody $100,000 for a case where the injuries claimed are a strained neck and back with a few visits to a chiropractor. A six figure loan is only likely for a case with  catastrophic injuries and prolonged disability. The loan offer you receive from most lawsuit loan companies is usually enough to be helpful. 

• Your funds

Once you and your attorney sign the lawsuit loan contract, upon us receiving the signed agreement, you should receive your loan quickly, sometimes the same day. We will immediately distribute the funds in the manner you choose. Funds can either be sent by bank wire straight to your bank account or a certified check to the address of your choosing via next-day FedEx. There’s nothing else for you to do until your case is settled. If your case turns out to be more serious than you initially thought, such as requiring surgery or long term disability, you might be able to get an additional funding.

Personal injury cases can sometimes take many years to resolve, leaving victims short on the cash they need to stay afloat financially. Attorneys are ethically barred from loaning money to clients, so pre-settlement funding organizations have stepped in to help. There are now a huge number of companies competing to loan money to litigants with pending cases. Unfortunately, many of these companies prey on unsophisticated personal injury victims, fast-talking them into signing on the dotted line without giving them the information they need to make an informed decision. That’s why plaintiffs seeking pre-settlement loans need to know what to do before signing a pre-settlement funding contract.  This is why we recommend to:

• Always discuss with your attorney about how pre-settlement funding works. Always make sure to speak with your attorney and review the contract before you sign it. 
• Learn the cons and pros of lawsuit loans. Your attorney and your pre-settlement advance company should be able to review both the benefits and drawbacks of legal funding.
• Get educated on how interest rates work, never ever settle to take rates higher than 42% per year.  Make sure that you understand the interest rate, compounding (if included), and repayment structure of your contract.
• Never sign a contract, unless you fully understand it. After doing everything mentioned above, you will be ready to sign your contract. Make sure that you fully understand every aspect of the contract before signing
• Never talk to a firm that is pushing you or threatening you to sign; if that happens, tell your attorney and seek elsewhere.
• Finally, do not tolerate pushy salespeople or high-pressure sales tactics. If you feel like a lender is pressuring you to sign the contract, walk away, and find another funder.

Predatory lawsuit money lending is the practice that convinces a plaintiff borrower to take ridiculously high payback loan amounts through exploitative methods.
There are many pros and cons when it comes to choosing amongst the best pre-settlement loan companies in the industry; or the worse. Since pre settlement funding is a relatively new industry, some companies may try to take advantage of your situation by promising what they can't and won't ever deliver. The following are real-life scenarios that you will need to consider.

• Unethical sale tactics. One of the annoying scenarios comes when these so-called 'top-rated lawsuit lending companies' guarantee you the world bringing zero results or ultra-high interests as high as 300% a year. To tempt victims into applying with companies that cannot fulfill their immediate needs is unethical.
• Fake reviews. You can also tell if a pre settlement cash advance company is not trustable when their behavior doesn't match the reviews. And so is the offshore marketing used to tempt victims into applying or signing with companies that cannot fulfill your immediate needs while maintaining your lawsuit outcome safe.
• The pressure game. If you ever feel like the funding company uses high-pressure sales tactics to get you to close on a transaction that you don't understand, acknowledge that these are manipulative methods and that the rates will probably go out the roof. You can always walk away from them and call someone else.
• Illegitimate firms charge outrageous rates. Many lawsuit funding companies that claim to provide non-compounding rates charge excessive rates. Some of these companies say one thing over the phone and show you a different number on the contract. You have to be very careful with this tactic. Knowing what your rate is and what is on your contract is imperative. While pre settlement funding rates can be high, make sure the settlement lender you work with clearly explains the agreement to you.
• The owners are disguised under different names. It has been found that some of these lenders had the other name before, got sued, lost, and re-started under a different name and are still practicing the same deceiving methods. Be extremely careful. Always research the funder and their past. You will be surprised by what a search will tell you.
• Funding should not take more than 48 hours. Lawsuit funding should take 24-48 to get you funded. There can be complications with your  that can make the process much longer, but if your attorney is responsive and the funding company is dragging their feet, keep looking.

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Choosing a top pre-settlement funding company will help you avoid less scrupulous firms that take advantage of their clients through high rates and ridiculously high fees. A higher-rated, prestigious legal funding company can provide you with quick access to capital reasonably. The best pre-settlement funding companies won’t pressure you into signing a contract with them, but instead, if they can’t fund your case, they’ll guide you towards the right lender that can invest in your case. The best pre-settlement loan companies are transparent in every step of the way. This is why you must understand the following:

• Learn how the best lawsuit loan companies work. If a pre-settlement advance company approaches you by mail, text, or email, you should make absolutely sure that it’s a legitimate business before you sign anything. Avoid being a victim of fraud or misrepresentation and learn how the best lawsuit loan companies work.
• The best settlement loan companies want to contact your attorney. A trustworthy settlement loan company is always interested in establishing long term relationships with lawyers and will ask to contact your attorney to set up your lawsuit cash advance. If you’re approached by a firm that wants you to sign papers without showing them to your attorney, say, “Next!” 
• Top-rated lawsuit funding companies are easy to reach. Plaintiff pre-settlement loan companies know that missing a call can lead to losing business. That’s why the top-rated lawsuit funding companies have a live person answering the phone and don’t waste your time with voice prompts. If you do need to leave a message, they call back quickly. 
• The funding terms are crystal clear. The entire pre-settlement advance agreement should not be more than a few pages long and printed in nothing smaller than a ten-point type. Unscrupulous firms will try to hide extra fees in pages of small font boilerplate, knowing that many people don’t bother to read the “small print.”
• Interest rates are reasonable, with little or no compounding. If the legal funding firm wants to charge you over 42% interest, look elsewhere for a better deal. In addition to a high rate, compounding interest can drastically increase the amount of money you owe, sometimes wiping out all the proceeds of your settlement. The best lawsuit loan companies will show you exactly how much you will owe based on when the money is repaid out of your settlement check. 
• The best lawsuit funding company will take the risk. You should only be responsible for repaying the loan if your attorney collects money for you. If your case is dropped or dismissed, the loan company does not get reimbursed. This is the risk they take when they make these loans. 
• A high rated pre-settlement loan company wants to talk to you. Getting a lawsuit loan should never get you the bum’s rush. The best pre-settlement loan companies will take the time to answer your questions and address your concerns thoroughly.