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The following examples depict the monthly and total interest rates during the life of a $5,000 lawsuit advance. Your actual interest rate may be different than the rates in these examples and will be based on the term of your settlement, the risks of your case, and other factors. If you don’t win your lawsuit in the three-year mark, your interest rate will stop. See our pre-settlement funding eligibility criteria to learn more about how you can get a loan on your lawsuit.
|Settlement Date||Plaintiff Rates||Total Payment|
|3 months||2.95% - 3.4%||$442.50 - $510|
|6 months||2.95% - 3.4%||$885 - $1,020|
|1 year||2.95% - 3.4%||$1,770 - $2,040|
|1 year 6 months||2.95% - 3.4%||$2,655 - $3,060|
|2 years||2.95% - 3.4%||$3,540 - $4,080|
|2 years 6 months||2.95% - 3.4%||$4,425 - $5,100|
The interest rate of a lawsuit loan is the percentage of the loan principal that a lawsuit lender like Baker Street Funding charges for borrowing plaintiffs to access the loan funds upon approval. On average, our settlement loan interest rates range from 28% to 40% per year, but this varies depending on the case.
We recently performed a study of the number of pre-settlement advances we buy from new clients looking for a better legal financing company. This study shows that the average interest rate on a lawsuit loan was more than 58% a year. This means that most lawsuit lenders that claim to provide ‘low costs’ are charging plaintiffs a lot more than they should. That said, their interest ranged from as low as 3.5% monthly (compounding) for the most qualified applicants and up to 5% compounding a month for those with weak claims, with no caps. In comparison, the average amount of a pre-settlement funding buyout was more than 58% a year as of August 15, 2021.
You can get a loan on your lawsuit by giving us a call at (888) 711-3599 or by applying online now.
Baker Street Funding is mainly known for providing the lowest cost pre-settlement loans nationwide. Find out if you qualify for a same day pre-settlement loan with the best rates available. Our lawsuit finance team is here when you need us.
Check out our lawsuit loan calculator and learn the approximate cost of your loan for your case.
Select a legal funding service to get started.
Personal Injury Loans
Settled Case Loans
Or just call us at 888.711.3599 to apply.