If you are an attorney looking to pay for high litigation costs or a plaintiff who needs to pay bills, then you understand that without the cash flow to pursue wealthy corporate defendants, you could end up settling for less than your claim’s fair value. These defendants are aware that lengthy, protracted litigation can drain plaintiffs financially until they either accept a low settlement offer or drop the claim altogether. Only recently have attorneys been able to secure funding themselves and for plaintiffs to assist them in seeing a case through. Unfortunately, traditional lending institutions do not see potential legal awards as assets. This leaves a void for some funds that are inadequately capitalized to dabble into legal finance, and ultimately they are not able to provide long-term financing to bring a case to its proper conclusion.
What are lawsuit advances anyway?
A cash advance on a pending lawsuit is exactly what it says it is, an advance from the expected proceeds of a potential settlement. Lawsuit loans or lawsuit advances are specialty financial products that provide plaintiffs involved in personal injury litigation with cash as their legal case resolves in or out of court. A lawsuit cash advance is also known as pre-settlement funding, and it comes with no risks. The money can be used for just about anything while a lawsuit is pending. Once you borrow a set amount of money, you won’t have to pay it off until your claim reaches a settlement or an award of damages. This type of financing is a magnificent tool for settling a case for max value if the funds are used wisely and only when needed.
Here is the process of getting a cash advance from Baker Street Legal Funding.
Litigation and pre-settlement funding companies work by investing money in your claim, meaning Baker Street Legal Funding will purchase a portion of your prospective settlement in exchange of the advance. Lawsuit cash advances are non-recourse and exclusively based on anticipated lawsuit settlements. They do not require you to provide a credit score or employment history. Your approval amount and rates will be solely based on the strength of your case and the probability of its success.
First, apply for a lawsuit cash advance online. Once you are finished, you’ll get a quick response to your funding request for final case qualification.
After your case qualifies, our underwriters will then work with your attorney to help give your claim a present settlement value and decide how much we can advance you.
Once you are approved, you will be offered a non-recourse financing agreement to be signed by both, your attorney and yourself before releasing the money out to you.
After we receive the signed contract, your funds will be wired to your account or we will send you a check—as soon as the same day.
Common uses of cash advances on lawsuit settlements.
Plaintiffs can use the advance to pay bills before or after a case settles. The capital advanced to attorneys can be used for all litigation-related expenses.
Our cash advance solutions for claimants help them pay urgent day-to-day expenses until a successful settlement is reached. You can pay for family expenditures, rent, mortgage, make car payments, medical bills, buy groceries and more.
We provide quick settlement financing for law firms by establishing long-term partnerships. Lawsuit funding helps attorneys pay litigation expenses while working a case, pay expert witness costs, cover administrative expenses and more.
You rates and terms matter—now more than ever.
Baker Street Funding provides litigation financing for attorneys with a fixed 2% interest rate lower than other pre-settlement funding companies. We also offer specialty client lawsuit loans to all attorney referred cases with rates surrounding 2.5% to 3.0% fixed monthly. And that’s not all, Baker Street Funding offers capped rates to all plaintiff loans. This means that your rate will be capped in the second or third-year mark—and you won’t be charged more interest if your claim doesn’t settle two to three years after you took out the advance. Learn more about our low pre-settlement loan interest rates here.
Calculate your cash advance with our lawsuit loan calculator.
Get an idea of estimated rates for different funding amounts with our lawsuit loan calculator for plaintiffs. Get an estimate of how much cash Baker Street Funding could save you vs. other companies.
Qualify for a lawsuit cash advance in minutes.
You can qualify for an advance on your lawsuit within minutes by calling 888-711-3588 or by applying online now. You may be able to get approved for thousands of dollars by financing a portion of your future settlement today and only pay back the funds if you win your case. Apply today and upon approval, get access to money from your lawsuit almost immediately. There is literally no risk to see what we can offer you.