A pre-settlement lawsuit loan is an easy way to get the money you need from your pending settlement proceeds during or after your case settles. Get approved for a flexible lawsuit cash advance contract for your convenience.
A lawsuit loan aka lawsuit funding is a non-recourse financing agreement against pending settlement payments in the form of a cash advance provided by pre-settlement funding companies to victims involved in lawsuits. Also known as non-recourse lawsuit loans, they help plaintiffs attain the financial help they need while the case reaches a fair resolution. There are no lost-case payment penalties and no-risk. This means that you are exempt from paying back the money if you do not successfully settle your claim.
Are you in desperate need of financial assistance due to the long going battle with the insurance company? Do you need to borrow money from your legal case? Then an advance against your potential settlement could be a lifeline to victims like you. Get a better offer from the defendant by obtaining cash in advance of your lawsuit's court resolution.
Pre-settlement loans from Baker Street Funding are advantageous to plaintiffs seeking a financial resource to pay for necessary expenses while the case is still pending in court. Take care of your financing needs by tomorrow.
From offering higher amounts to better services, Baker Street Funding is the right choice. Yearly, we fund thousands of pending settlements and can help you get the best deal possible, or we will refer your case to someone else, period.
The process for pre-settlement lawsuit loans is simple, convenient, and fast to get you the money you need as quickly as possible—and with lower rates. It takes minutes to apply.
Pre-settlement advances from the best lawsuit loan companies in the United States helps avoid pitfalls of settling quickly for less money by making available the cash you need now at no risk. Get competitive rate-in lawsuit loans that work for you. The best pre settlement funding companies can close a transaction for you in as little as 48 hours.
High rates are annoying, and people hate them. That’s why we provide affordable pre settlement funding. That means there are absolutely no shady hidden fees. Get a fair risk-based (low-interest rate) pre-settlement loan. Some of our clients have seen savings as high as 20% a year by working with us. Remember, if someone else offers you a contract, we will match or beat them.
If you need a cash infusion to help you get the settlement you deserve, whether you have a settled case and need to borrow money against your lawsuit settlement award or have a pending legal claim, contact us to help you get the money you need fast. Many plaintiffs looking for funding from their case use Baker Street's pre-settlement lawsuit loans due to the larger amounts we approve. Get much higher amounts and get funded as you please. See how much you could get:
In this case, the plaintiff had multiple surgeries and lost the ability to move his legs after a car accident against a commercial truck.
This case is a medical negligence lawsuit combined. The victim passed away as a result of medical malpractice during a surgical procedure on his spine.
77 Water Street, 7th Floor, New York, New York 10005, and our Florida location at: 780 5th Ave. S Suite 200, Naples, FL 34102
Baker Street Funding offers the fastest turnarounds in the country. Call us at 888-711-3599 to learn more.
No, pre-settlement lawsuit loans are not risky. A pre-settlement cash advance is a non-recourse transaction, which means you will no longer be responsible for the payment if you lose your legal dispute. Nevertheless, non-recourse financing transactions are risky for lawsuit loan companies because we don’t look into your credit history nor work background; we only rely on your case value, how risky the claim is, and the possibility of your case settling successfully.
We can buyout any funding contract no matter the amount. We offer plaintiffs the ability to consolidate their previous advances and save money on future payments. Get a much lower consolidated rate for your 2nd pre-settlement loan.
As long as your legal action is significant enough to warrant compensation, you may be able to get a cash advance on your lawsuit settlement.
1) Your claim has to have progressed since the last time you received funding, either procedurally or through the plaintiff having further medical treatment.
2) The case value needs to merit additional funding.
3) There can not be any open appeals.
You can get as many advances 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 justify multiple lawsuit loans, but 80% of the cases we underwrite come back three or more times for additional funds.
We provide multiple funding structure to help create a bespoke financing arrangement specific to your case and situation.
There are no credit checks or job verification. Your approval will be solely based on the funding company’s analysis of your case and the probability of you winning it.
The repayment of funds is wholly contingent upon the successful settlement of your litigation. The payment is dispersed to the pre-settlement funding company only when:
Pre-settlement financing 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 pre-settlement loans to be approved, you must be represented by an attorney. Lawsuit loan companies are paid by your attorney, and only if your case is won. The reason why this is because lawsuit loans are based solely on the merits of your case. We are not basing the advance on your assets, your credit, nor job status.
The approval time for loans against settlements typically takes an analysis period of 24-48 hours (business day) 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 third-party pre-settlement funding organization evaluating your legal proceeding, and not your attorney. An underwriter will analyze the merits of your case and determine how much of the future estimated settlement amount they can make available to you today.
No. Lawsuit funding is not a loan. This is an investment made on a portion of your expected settlement. This is the bridge between the money you need and the available funds a lawsuit loan company has, so you can keep your case moving forward.
We provide non-compounding rates depending on the risk of your case. A non-compounding interest rate stays the same on your 6-month or yearly contract. We do not take high-risk claims, so most of our clients see a fixed rated overtime with no added-hidden fees, and as low as 1.5% monthly, ending in the 3rd year. Meaning if your case takes longer than 3 years to settle, you won't have to pay extra interest.
We hope you never find yourself injured or as the victim of negligence or abuse, involved in an unresolved lawsuit, and strapped out of cash. Learn more about what options to consider before applying for lawsuit loans, learn about contracts, eligibility, and the detailed facts on how settlement funding works.
Plaintiffs who need to borrow money against their settlement should learn what the types of lawsuit funding solutions are, and decide whether it is something to consider. Legal funders generally offer two types of settlement funding programs to plaintiffs involved in civil lawsuits. These services are pre and post-settlement funding.
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 don’t apply, unlike when you get approved because it is strictly based on your case’s merits and nothing else. It’s important also to try to get a personal loan from a financial institution and try to leverage an asset such as a home, an automobile, and borrow money from family members and/or friends. If you can’t do that, your only other option is for you to apply for a loan against your lawsuit.
Non-recourse cash advances serve the needs of plaintiffs that are having money problems while waiting for their cases to conclude. Here are some reasons to consider applying for lawsuit loans:
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 pre-settlement funding company to work with.
Many times, when victims are in the middle of a lawsuit, they run out of financial options to support themselves so they can keep their cases moving forward.
Pre-settlement financing can be a great tool to help you fight for the award you deserve so you don't settle for a lowball offer from the defendant because rent is due or bills are up. Acquiring the pre-settlement funds you need while under financial pressure enables you to effectively deal with the insurance company's settlement delays, allowing you to wait for fair compensation.
Lawsuit financing could be useful as long as you understand the rate is fair for the risk that the lawsuit funding company is taking. Lawsuit loans can be beneficial in personal injury cases where severely hurt victims cannot work during the lawsuit process. 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 relief due to the sustained injuries that have caused him or her an economic fall.
Cash loans on lawsuits help relieve this financial distress, so you and your attorney can negotiate a better settlement offer. Lawsuit settlement loans are resources that help claimants support themselves while the case goes to trial or a better settlement is awarded.
If you are a plaintiff with a filed lawsuit and need money to make ends meet, you may be able to qualify for loans against settlements so you can cover your life's expenses. Apply for a lawsuit cash advance today.
You may be able to qualify for lawsuit loans 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. Lawsuit loan companies use certain prerequisites to get lawsuit loans pre-approved.
Please be advised that, depending on your case, more or less may be needed to qualify. Most lawsuit funding companies require:
To see if you are eligible, please fill out an application online or over the phone at (888) 711-3599.
Baker Street Funding provides pending litigation loans in most states of North America depending on state law:
Alabama, Alaska, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Texas, Utah, Virginia, West Virginia, Washington, Wisconsin, Wyoming.
Baker Street Funding understands the financial pressures victims go through during litigation and do our best to provide cost-friendly settlement funding solutions. We are committed to offering quick financing for plaintiffs involved in most personal injury, employment, and civil rights claims. If you don't see your case type below, please call us at (888) 711-3599 to see how we can help you.
In the United States alone, medical professionals can act negligently and make errors. The effects of malpractice could negatively impact a victim for good. Some of the funding we provide for medical malpractice cases are misdiagnosis, delayed diagnosis, failure to treat, and surgical errors.
Wrongful death means that another person acted negligently and causing the death of another. Wrongful death causes include:
Illegal forms of discrimination are being practiced today in the United States, especially inside the job.
We provide funding to plaintiffs who are victims of:
Thousands of people have gone to jail for a crime they did not commit. We provides loans to victims of wrongful conviction, mostly due to the following causes:
SEE SOME OF THE CASES WE FUND:
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 cash advance organizations have stepped in to help. There are now a huge number of providers 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 funding from their cases need to understand what to do before signing a lawsuit funding contract. This is why we recommend:
It is crucial you answer the following questions before signing a contract:
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 settlement funding. A pre-settlement cash advance is not a loan because the settlement lender does not base the advancement on credit scores or employment status. All pre-settlement funding provided is non-recourse, and the advance funds will be based only on the value the company gives your case. This type of financing is free of risk because you don't have to pay back the funds if you don't win your case.
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 funder to go after the borrower for any balance that remains after liquidating the collateral. For this reason, lawsuit cash advance companies charge higher interest rates on non-recourse debt to compensate for the elevated risk.”
As with any financial transaction, knowledge is vital. Educate yourself on how lawsuit loans are carried out 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.
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 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 moneylender that can invest in your case. The best lawsuit loan companies are transparent every step of the way. This is why you must understand the following:
Same day pre-settlement loans are possible. Although we are not going to sugarcoat the words here to get you to apply as other lawsuit advance companies do, with specific requirements, we can provide you with plaintiff lawsuit financing in less than 12 hours. Before you apply, consult with your attorney to help you with this decision. Your lawyer needs to be prepared to send the documents from the moment the funding is requested to get you funded that same day. Plaintiffs will receive a cash incentive on the same day of the application under certain conditions:
What you need to do: To get approved for a same-day pre-settlement loan, you must make sure your attorney sends the documents first thing in the morning if you are planning to receive funds wired into your account that same day. Upon same-day approval, both the plaintiff and the attorney must be present when signing the contract before 3 pm (bank wire cut time). If a check is preferred, then you will receive the funds the next day. Pre settlement funding on the day you request can only be executed by sending you a bank wire in which you will get that same day. Same day funding helps injured victims involved in significant accidents get the money they need quickly. You are not alone; fast advance funding does exist through same-day settlement loans. Obtain the necessary legal funds today.
The settlement funding process consists of the analysis of your case for the purpose to underwrite a legal advance through the following three critical factors:
The first thing the funding 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.
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.
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:
A team of pending settlement loan advisors will handle your application’s intake and review. Subject to several factors, you will either be pre-funded 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 and 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 reasonable 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.
The 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 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 pending lawsuit loan application will get approved.
The 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.
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 claim with catastrophic injuries and prolonged disability. The loan offer you receive from most lawsuit loan companies is usually enough to be helpful.
Once you and your attorney sign the funding 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. The money 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 severe than you initially thought, such as requiring surgery or long-term disability, you might be able to get additional funding.
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 pending 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 unresolved or won settlements. Although settlement financing is also known as a lawsuit loan, they are not to be considered loans. Settlement funding is a non-recourse financing 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 once the claim has been awarded.
Predatory lawsuit money lending is the practice that convinces a plaintiff borrower to take ridiculously high payback amounts through exploitative methods. There are many pros and cons in choosing amongst the best pre-settlement loan companies in the industry; or the worse. Since pre-settlement funding is a relatively new industry, some places that loan money against court cases 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 loan 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 the outcome of your matter 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 low-interest rates charge excessive rates. Some of these firms 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 firms 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.
Baker Street Funding specializes in funding plaintiffs with speed and professionalism. Having been recognized as one of the best legal funding companies in the market, we were established to help you find the right financing program through a non-invasive approach.
Baker Street Funding is a Premier Legal Funding Firm designed to strategically connect select funding opportunities with our extensive network of sophisticated partners and staff. If your attorney has been retained on contingency and you have a strong liability claim against a properly insured defendant, you may qualify for a pre settlement advance; contact us to discuss your options. * The term lawsuit loans, lawsuit loan lenders, settlement advance loans, or lawsuit settlement loans may be used to refer to pre-settlement funding. Transactions facilitated by Baker Street Funding are not to be considered loans. These transactions are non-recourse financing agreements, which means that we are making an equity investment into your litigation. If you lose your case, you are under no legal obligation to repay your advance. The word loan is strictly used for marketing optimization purposes and for easier comprehension for prospective clients. Our client relationships are paramount to us, and we take the client education process very seriously. We provide legal funding and lawsuit cash advances in the following states, Baker Street Pre Settlement Funding is provided in the following states: Alabama, Alaska, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Texas, Utah, Virginia, West Virginia, Washington, Wisconsin, Wyoming. We are currently NOT funding worker's compensation. We offer attorney funding and law firm financing in every state of the United States.
Historical returns do not guarantee future results. Baker Street Funding does not provide legal, tax, or financial advice and prior to making any financial decision, please consult a financial advisor or tax professional.
Baker Street Funding:
New York Office: 77 Water Street, 7TH floor, New York, NY 10005
Florida office: 780 5th Ave. South, Suite # 200, Naples, Florida 34102
Lawsuit Funding, Settlement Funding, and Litigation Funding: Baker Street Funding, LLC.
Copyright © 2018. All Rights Reserved.
All Rights Reserved