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How do lawsuit loans help

See the benefits of getting a loan against your lawsuit.

Borrowing money from your lawsuit has many advantages including settling for a better settlement while you pay for your expenses.

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Pre-settlement lawsuit loans
Pre-settlement lawsuit loans

Lawsuits can end up being long and exhausting legal processes dragging victims to one of the most challenging times of their lifetime. If you are a plaintiff with a personal injury, wrongful imprisonment, or corporate litigation, it is more than likely that you are going through financial upheavals that weren’t accounted for. Unfortunately, while waiting for your pending settlement award, your financial situation could break apart your wallet. Certain factors can lead to a long settlement, such as insurer delays, court/attorney scheduling conflicts, litigation, arbitration, etc. One thing is for sure; you should not settle for less than you deserve. Many times, the offered settlement is not enough, and eventually, plaintiffs who are struggling financially end up accepting a low valued compensation. Once you receive a low ball settlement offer in this phase of your lawsuit, you forfeit the right to pursue further financial compensation.

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Lawsuits can end up being long and exhausting legal processes dragging victims to one of the most challenging times of their lifetime. If you are a plaintiff with a personal injury, wrongful imprisonment, or corporate litigation, it is more than likely that you are going through financial upheavals that weren’t accounted for. Unfortunately, while waiting for your pending settlement award, your financial situation could break apart your wallet. Certain factors can lead to a long settlement, such as insurer delays, court/attorney scheduling conflicts, litigation, arbitration, etc. One thing is for sure; you should not settle for less than you deserve. Many times, the offered settlement is not enough, and eventually, plaintiffs who are struggling financially end up accepting a low valued compensation. Once you receive a low ball settlement offer in this phase of your lawsuit, you forfeit the right to pursue further financial compensation.

What are the advantages of  lawsuit loans?

While we often think of borrowing from our lawsuits as a wrong move, the reality is that there are advantages to getting lawsuit loans. Some benefits include no monthly payments, no risks and potentially lower interest rates with reputable funders, and the ability to meet expenses you might otherwise have trouble covering due to your lawsuit. Lawsuit loans are not suitable for every plaintiff involved in challenging litigations, but they can be a smart move, depending on your situation. Below is what you need to know about loans against lawsuits and the potential benefits of getting one. 

Lawsuit funding has advantages that are very appealing to legal consumers who may have previously had trouble borrowing from family members or financial institutions. 

Lawsuit loans can be used for the most essential purposes.

The pre-settlement funding industry was invented roughly two decades ago – to help people like you, involved in severe cases, in your time of need. When you get a lawsuit loan, it can be used for household and emergency expenses. However, while you can use the funds for essential matters, it’s still an investment made into your lawsuit, and you might want to be wise about using your pre-settlement funds. It’s simply not smart to use them for things you want like clothes or vacations. It’s best to use your loan on your needs rather than something you don’t need; remember, this loan is coming from your lawsuit, and the money must be used accordingly.

Some of the ways you can use your lawsuit settlement loans are:

  • Pay off a credit card bill
  • Family expenses
  • Car repossession
  • Business expenses
  • Rent or mortgage

Medical expenses.

Lawsuit advances are extremely popular with personal injury victims who find themselves injured while their case is being litigated or fought in court. They can be beneficial in personal injury cases where severely hurt victims cannot work during the court process. For example, a medical malpractice victim 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.

Suppose you have a medical emergency or medical bills you cannot pay due to your personal injury lawsuit and are unable to pay the full cost in cash upfront. In that case, financing your litigation can be a temporary solution to keep you afloat while your case settles in court. 

You can qualify for a higher loan amount if your injuries are severe, which may be necessary for your health expenses and any other emergency matters at hand.

Fast lawsuit loans

Borrowing legal money is free of risk.

Pre-settlement loans are non-recourse loans provided to plaintiffs involved in less risky litigations. This is because if, under any circumstance, your lawsuit does not settle favorably, you won’t have to repay the funds. Not all legal loans have no risk, and some companies will charge up to 200% a year. 

You may prefer to take out a loan from a company that charges non-compounding interest rates at no more than 3.4% a month. In addition, using your lawsuit as collateral is less attractive to the defendant —that may end up questioning why you are borrowing from your lawsuit. 

Remember, just because a lawsuit loan doesn’t have any risks doesn’t mean the consequences are less dire when your settlement reaches a successful conclusion. Choose a company that won’t eat up your whole settlement when you finally get your payout. Lawsuit funders can still take all legal measures to collect from you if you sign a contract with 100-200% interest rates.

100%

risk-free.

only pay

if you win your case.

No monthly payments.

We see loans as the money we borrow that we will have to pay back monthly. Your credit history may not be good and this may affect your eligibility to get a loan from a traditional financial institution. Even if you get approved for a personal loan or a credit card loan, monthly payments and fees will put additional stress on a plaintiff that is not currently working. Legal funding advances work differently. 

These loans do not have to be paid monthly, so this takes a lot of pressure off the victim’s shoulder. The legal advance is only paid back when and if the case settles in your favor. 

Settle for more.

It’s common knowledge that insurance companies fund certain news outlets to advertise against lawsuit funding due to very few companies’ high exaggerated costs. These tactics mislead plaintiffs to settle their case for an undervalued settlement or, even worse, lose the case. One of the advantages of loans on lawsuits is that you may not have to feel pressured into settling your case for much less than you deserve because you don’t have the money to get by with your finances. 

Lawsuit funding can be a great tool to help you fight for the settlement you deserve, so you don’t settle for a lowball amount. 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. A loan from your lawsuit is a resource that could help you support yourself while the lawsuit goes to trial or a better payment is awarded. They could be useful as long as you understand the rate is fair for the risk that a financier takes.

Acquiring funding from your lawsuit enables you to effectively deal with the defendant’s delays, allowing you to wait for fair compensation so your attorney can negotiate a better offer.

It’s common knowledge that insurance companies fund certain news outlets to advertise against lawsuit funding due to very few companies’ high exaggerated costs. These tactics mislead plaintiffs to settle their case for an undervalued settlement or, even worse, lose the case. One of the advantages of loans on lawsuits is that you may not have to feel pressured into settling your case for much less than you deserve because you don’t have the money to get by with your finances. 

Lawsuit funding can be a great tool to help you fight for the settlement you deserve, so you don’t settle for a lowball amount. 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. A loan from your lawsuit is a resource that could help you support yourself while the lawsuit goes to trial or a better payment is awarded. They could be useful as long as you understand the rate is fair for the risk that a financier takes.

Acquiring funding from your lawsuit enables you to effectively deal with the defendant’s delays, allowing you to wait for fair compensation so your attorney can negotiate a better offer.

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Legal funding can be used to make up for anything you want, such as loss of income. It can help you from falling into a deep financial crisis that you can’t recover from, allowing you to wait for a better settlement. It’s safe to conclude that lawsuit funding can be the bridge to settling your case for better compensation.

See our other funding products.

Lawsuit loans
Car accident loans
Personal injury loans
Post-settlement funding for attorneys and plaintiffs
Civil rights lawsuit loans
Employment and labor
Attorney funding
Medical lien funding
Litigation funding

Learn more about pre-settlement funding→

Full case list

Ready to get started?

We have helped hundreds of families recover from their legal financial crisis through pre-settlement funding. If no one else is there to help you, and you have a valid claim, then you have the option to opt for a lawsuit advance. 

Apply now
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New York: 77 Water Street, 7th fl., New York, NY, 10006 
Florida: 780 5th Avenue, #200, Naples, FL 34102

*** Baker Street Funding, LLC has NO affiliation with other firms or individuals who have business addresses in the same premises or building of our business addresses.

LEGAL NOTICE

Baker Street Funding, LLC is not affiliated with any other company unless expressly stated. If someone notifies you that they are affiliated with Baker Street Funding, LLC they are committing a federal crime under the false advertising section of the Lanham Act (commonly known as Section 43(a)). Under federal law, false suggestions of endorsement or sponsorship or misuse of the Baker Street Funding trademark are actionable under the Lanham Act, 15 U.S.C. §1125(a). If you have any questions regarding our partner firms, please email or call us immediately. You can also report companies falsely affiliating with us to government agencies such as the FBI as well as the Consumer Financial Protection Borough.

Baker Street Funding is a Premier Legal Funding Firm designed to strategically connect select financing opportunities with our extensive network of sophisticated partners and staff. Terms and Conditions Apply. WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AT ANY TIME WITHOUT NOTICE. To qualify for legal financing, a consumer must be (1) an attorney, or (2) you must be a corporate plaintiff looking for a minimum of $750,000 in litigation funding or a minimum of $50,000 in post-settlement funding, or (3) you must be a personal injury, civil rights or employment/labor law plaintiff with a retained lawyer on contingency; you must be at least 18 years of age, you must have a strong liability claim against a properly insured defendant, you must reside in an eligible state, and meet our underwriting requirements. Contact us to discuss your options. Not all borrowers receive the lowest rate. To qualify for the lowest rate, your attorney must contact Baker Street Funding and meet other conditions. If approved, your actual rate will be listed in your contract. Historical returns do not guarantee future results. 

This website is designed and owned by Baker Street Funding, LLC; any unauthorized use or copies of this material will be punishable by law.

Financing to plaintiffs involved in personal injury, employment/labor, and civil rights cases are provided in the following states:

Arizona, Alabama, Alaska, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Mississippi, Missouri, Minnesota, Montana, Nebraska, New Hampshire, Nevada,  New York, New Jersey, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming.

  • We currently fund Colorado at a minimum of $75,000.  Case value must be at least $750,000+. 
  • We currently fund North Carolina at a minimum of $25,000. Case value must be at least $250,000+. 
  • We currently fund South Carolina at a minimum of $100,000. Case value must be at least $1,000,000+. 
  • We currently fund in Nevada at a minimum of $20,000. Case value must be at least $200,000+.
  • We currently fund in Illinois at a maximum of $40,000. Case value must be at least $400,000+.
  • We currently fund in Tennessee at a minimum of $10,000. Case value must be at least $100,000+.
  • We currently fund in Arizona at a minimum of $20,000. Case value must be at least $200,000+.

Lawsuit finance for business claims is provided in every state (and eligible countries). Attorney funding is provided in most states. Please contact us to find out if your state is eligible for law firm financing.

**Worker’s compensation loans are funded only in the following states: Alaska, Connecticut, Florida, Iowa, Louisiana, Montana, Rhode Island, Washington, and Wyoming.

***This website and advertising are provided by Baker Street Funding, LLC to the extent that there is advertising related to Baker Street Funding, LLC. Transactions facilitated by us 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 legal advance. Any word related to a loan(s), lending, lender(s), borrow(er), and cash advance(s) may be used to refer to legal finance. The words and any of their forms: loan(s), lender(s), lending, borrow, and cash advance(s) are strictly used for marketing purposes and easier comprehension for prospective clients. Our client relationships are paramount to us, and we take the client’s education process very seriously.

All information provided on this site is for educational purposes only and should not be taken as investment, legal, tax, or financial advice. We do not provide investment, legal, tax, or financial advice and prior to making any financial decision, please consult a financial advisor, an attorney, or tax professional.

All funding is subject to approval. Additional restrictions may apply. Call for details at 888-711-3599.

Lawsuit Funding, Settlement Financing, and Litigation Loans.
© 2021 Baker Street Funding, LLC. All Rights Reserved.

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