Personal injury lawsuits often send your finances into a spin as you juggle your bills with limited or no income. Pre-settlement funding offers a smart and effective way to cover unplanned and completely unpredictable costs and emergency expenses resulting from your injuries
Pre-settlement funding is a risk-free cash advance against your pending lawsuit settlement award. If you are a plaintiff, you probably have years before your lawsuit comes to a successful conclusion; in the meantime, you must take care of your essential bills and your family, especially if you are a personal injury victim. Pre-settlement funding can give you the peace of mind that you need when a financial shock from your litigation would otherwise leave you struggling and stressed out.
At Baker Street Funding, we pride ourselves on providing our clients with pre-settlement funding tailored to their needs and make sure that it is the best financial solution for them.
Despite the word "loan," pre-settlement funding is non-recourse financing and does not work like traditional loans. Non-recourse third-party plaintiff financing means that the company will buy a portion of your expected settlement proceeds, and the advance is not based on collateral, recourse, or assets. This is why it is called non-recourse funding, because the funds are paid back only if you win your litigation, and we can't come after you if you don't.
On the other hand, when you borrow money from a bank, you are obligated to pay back the money, or else they can take your house, freeze your bank accounts, repossess your car, sue you, trash your credit score, and even drive you to bankruptcy if you don't pay off the full debt. This is why financial institutions charge lower rates than pre-settlement financiers; the risk is not high.
We offer quick approval times, low interest rates, and no risk; only pay if you win your case.
To qualify for pre-settlement funding you are required to have retained an attorney and must be at least 18 years of age. You must have an active lawsuit, and the defendant has to be insured. After you apply, a pre-settlement funding expert will evaluate your case in 24 hours or less and will quickly provide you with the best option. If your case is already settled, but need funds now until it pays out, then you are automatically qualified.
The first step is to apply; once you apply for a pre-settlement advance, our team will review your application. We will then communicate with you to confirm your attorney's contact info and your case's details. If your application is accepted, we will then evaluate your claim with your attorney by giving it a value based on how much money you will receive from the settlement proceeds. The money we are potentially advancing requires documentation of your claim and possible medical records that your attorney will provide because we are buying a portion of your settlement based on your claim's strength in exchange for the advance. Once we approve your claim, which takes only 24 hours to evaluate, we will communicate with you to let you know the approval amount. If you accept, we will formulate a contract stating the portion of the proceeds you are selling. This means you will only receive part of your resolution amount and take advantage of receiving up-front pre-settlement cash for your needs.
Lawsuit financing helps you level the playing field against large insurance companies to provide you with the financial resources to pay your expenses and help you avoid taking less money than you deserve out of desperation. Plaintiff pre-settlement funding could enable you to move forward with your claims and accept a better settlement offer.
We help personal injury victims and corporate litigation plaintiffs get the money they need fast so they can pay their necessities while waiting for the successful resolution of their legal cases.
First and foremost, we only get paid if you end up receiving your settlement award. If you don't receive compensation, you will no longer be tied to paying back the funds. Once your lawsuit is resolved, your attorney will first pay medical liens, set apart his fees, and then pay back the company the borrowed funds, plus extra charges written on page 2 of the agreement.
Victims of lawsuits have overwhelmingly chosen us instead of our competition because of the high level of legal services we provide. Call us today at 888-711-3500 for a no-obligation consultation and see what makes Baker Street Funding America’s Number 1 Legal Funding Choice.
If you need to learn more about what your options are, give us a call at 888-711-3599. Our team will ask you a few questions about your case details and will make the decision of your qualification within 5 minutes of the initial conversation.
Learn more about our other funding products here:
New York Office: 77 Water Street, 7TH floor, New York, NY 10005 | Florida office: 780 5th Ave. South, Suite # 200, Naples, Florida 34102
Pre-settlement funding helps personal injury victims involved with time-consuming and expensive lawsuits get the cash advance they need when they need it the most.
The process length varies from 24-48 hours from the moment your lawyer sends your case file.
Your attorney needs to be aware of your concerns and questions about pre-settlement funding, so they guide you correctly. Baker Street Funding has excellent attorney relationships all over the United States and understands that attorneys are busy working on getting the best possible outcome for you. If your attorney needs to find out who we are, we can contact the law firm after your application and our initial conversation so we can get the process moving forward fast and easy.
Only apply if you have no other choice but to borrow funds against your lawsuit settlement. Ask your attorney what to do next, so they are also aware of your financial situation.
The amount you are eligible for depends on the value of your case. You can get as little as $1,500 and as much as $750,000. Since litigations are not easy to deal with, realize how much money you need to borrow, and only apply for what you really need. You may have a highly valuable case, but that doesn't mean you should take the whole approval amount, only take out what you need to keep you afloat.
Yes, you can apply for additional funds.
There are many lawsuit lenders in the industry who take advantage of people like you. Learn to read the contract fully before signing it and understand it. Our contracts are transparent and easy to read; you won't have to worry about those hidden fees. We provide lower rates no matter how complicated your case is starting at 1.5% non-compunding to 3.4%.
While pre-settlement funding companies offer to finance a small portion of claims, we offer no-risk lawsuit advances with higher amounts to most types of cases.
The following resources from our blog will help you understand more about how settlement funding companies work.
Whether you have an unexpected emergency expense or need to pay for a medical bill, it helps to know what a company looks for when they evaluate your application. The process consists of the analysis of your case for the purpose to underwrite a legal advance through three critical factors. Here are a few items virtually all settlement funding companies consider before approving a plaintiff for funding: fault, injuries, and insurance.
Choosing a good funder will help you avoid less scrupulous firms that take advantage of their clients through high rates and outrageously high fees. A higher-rated, 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.
There are now a huge number of providers competing to loan money to litigants with pending cases in court. Unfortunately, some 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 advances from their cases need to understand what to do before signing a contract.
Conventional banks do not recognize the proceeds of a lawsuit as collateral; fortunately, lawsuit financing companies do as they were designed to provide plaintiffs with upfront money secured against their coming compensation. Although pre-settlement financing is also known as a litigation loan, they are not to be considered loans. 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.
As with any financial transaction, knowledge is vital. 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 legal funding 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.
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.
*We do not currently provide financing to plaintiffs looking for lawsuit finance residing in Arizona, Arkansas, Kansas, Maryland, Nevada, Oklahoma, West Virginia, or Washington D.C. We reserve the right to change the states where we provide services to without notice.
Attorney funding is provided throughout all states of the United States. The states we currently provides services to are:
Alabama, Alaska, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New York, North Carolina (Minimum $25K), North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, 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+.
d**We not provide services for workers’ compensation.
***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. The term lawsuit loans, lawsuit lenders, lawsuit cash advance(s), settlement advance loans, lawsuit settlement loans, or 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 its 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 in 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.
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 Financing, and Litigation Loans: Baker Street Funding, LLC.
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