Pre-Settlement Funding

Q: When should I consider getting a pre-settlement loan?

T he following circumstances can help you decide whether you should consider a pre-settlement loan: You’re facing medical expenses you can’t afford, and you need help financially covering them. You don’t want to accept a low settlement offer from the insurance company, and need some temporary stability to negotiate a reasonable settlement or take your case to trial. You are unemployed and have emergencies that require immediate attention. You have re-evaluated your current financial condition, and you’re struggling to make ends meet.

What is pre-settlement funding?

Pre-settlement funding (legal funding) is a financial option for plaintiffs that gives them access to an immediate cash advance at a time of need. The money you borrow in this funding arrangement comes from your future settlement proceeds to help pay for everyday expenses, medical bills, and other unforeseen costs without settling your case for less than you deserve—all in just 24 hours.

Since pre-settlement funding is structured as a non-recourse type of financing, there’s no need to put up collateral, such as your home or car, or credit. And, unlike traditional loans, you only need to repay the borrowed funds if you win your case.

Choose the best pre-settlement funding company nationwide.

At Baker Street Legal Funding, we’ve been a trusted provider since 2018. You can apply for our fast lawsuit settlement loans and get a financial solution tailored to your needs. We’ve helped thousands of personal injury victims pursue fairness and justice, in addition to receiving low interest rates and caps on all our pre-settlement funding contracts.

Same day funding.

Whether you are struggling with medical expenses, have fallen behind on household bills, or need to pay rent, pre-settlement funding can get you the money you need as quickly as the same day you get approved.

Low interest rates.

Looking for the lowest cost pre-settlement funding? With Baker Street Legal Funding, you get non-compounding rates as low as 2.95% per month up to 3.4% — because we believe that receiving your loan should be obtained quickly and at a fraction of the cost. Thousands have already taken advantage of our high level of service with our low interest rates. Apply now for hassle-free funding and experience the difference with Baker Street Funding.

Save thousands on your settlement.

You deserve to be protected when you get a legal funding agreement. That’s why we cap our rates at 2 – 3 years, to help you avoid skyrocketing interest charges. A cap on an interest rate loan is the maximum time limit you can be charged with interest rates for when your case takes longer than that cap to reach a settlement. Our transparent funding terms ensure you know exactly what you’re paying and for how long. No hidden fees or markups, no surprises.

Larger amounts.

Whether you need $1,500 or $2,000,000 (or even more), Baker Street Funding has your back. We can advance you up to 10% of your potential gross settlement recovery, with the option to come back for additional funding if needed. Get treated equally no matter the size of your case and focus on what matters most—your case. Apply now for a lawsuit cash advance and get as much financial support to see your claim through to its conclusion.

See the benefits.

When it comes to personal injury cases, unexpected expenses can arise at any moment. Luckily, pre-settlement funding can help you stay ahead of the game, allowing you to take control of your finances while your lawsuit is being fought. With the added peace of mind financing, you can spend your energy on your recovery while your attorney fights for the best possible settlement. Get pre-settlement funding with Baker Street Funding today so you can secure financial relief rather than stressing over finances.

No credit or income check

We know that your credit score shouldn't determine your eligibility for pre-settlement funding. That's why Baker Street Funding, unlike other advance providers, doesn't factor in these metrics when assessing your loan application.

Get a fair settlement

Pre-settlement funding can give you and your attorney the time needed to get more evidence, build a stronger case and secure the best possible settlement for your damages.

Only pay if you win

You shouldn't have to worry about making payments until you receive a payout from the defendant, which is why we offer a "pay only if you win" policy. That's right, you can get money upfront before your prospective settlement is paid out, and never pay a dime until you get compensated—guaranteed.

Know the simple steps to getting pre-settlement funding for your lawsuit.

Pre-settlement funding is easy to get as long as your case qualifies for evaluation and your attorney participates in the process. Here is how it all works:

Apply for funding

Apply for a pre-settlement advance online or over the phone for quick response from our funding team.

We evaluate your case

We'll pre-qualify you for cash if your case is within investment guidelines and stay in communication with your attorney to assess the monetary value of your case. This usually takes one to two business days.

Approval of funds

Once we approve your case for funding, we'll create a contract for you and your attorney to sign. You can receive the funds within hours of signing the agreement.

Receive your cash

Receive your funds via an overnight check or bank transfer, whichever is more convenient for you.

All pre-settlement funding from Baker Street Funding is free of risk, which guarantees the protection of your credit and assets and protects you from making any payments if you don’t win the case.

Let the numbers speak for themselves with our lawsuit loan calculator.

Get a more precise estimate of how Baker Street Funding could save you money compared to other legal funding providers. You could get approved for a cash advance on your personal injury settlement with interest rates starting at 2.95% to 3.4% simple monthly.

Borrow money before your settlement from a top-rated funding company

Baker Street Funding has helped thousands of plaintiffs get access to a portion of their anticipated settlement faster and for more competitive rates than other pre-settlement funding providers. We can assist you in getting the cash advance you need at the lowest cost and in the fastest time possible. With years of experience in the industry, we have become one of the leading pre-settlement funding companies in the United States. Get settlement money advanced to you in just a few clicks.

See our other funding services.

Lawsuit loans

Car accident loans

Personal injury loans

Post-settlement funding for attorneys and plaintiffs

FAQ.

How does pre-settlement funding work?

Pre-settlement funding provides you with an advance on the future lawsuit proceeds of your case. Basically, the funding company evaluates the overall strength and complexity of your case with your attorney and the potential settlement or verdict before offering to fund your case. If approved, you will receive a non-recourse funding agreement to complete. You will receive your funds immediately after the completion of the funding agreement.

If you reach a successful conclusion of your case, the advance is repaid plus interest rates to the company. However, if you lose, you owe nothing.

How long does the legal funding process take?

The legal funding process from Baker Street Funding usually takes 24-48 hours from the time your lawyer sends your case file.

If your lawyer needs to find out who we are, we can contact them after you fill out your application. With our initial conversation, we can speed up the funding process.

How much money should I consider borrowing from my future settlement?

Only borrow what you need to cover your primary financial needs. While you may get approved for a significant amount, taking out only what you need will help you avoid paying unnecessarily interest rates that will accrue for the duration of your case. You can always re-apply for additional funds.

How much money can I get?

The funding amount you can take out depends on the value of your case, and they can go up to 10% of that value. Approval amounts range from $1,500 up to $2,000,000 or more.

If your case is worth $250,000, you can potentially get approved for 10% of that amount, that is a maximum of $25,000.

If your case is worth $50,000, you can potentially get approved for a $5,000 lawsuit loan max.

How can I qualify for pre-settlement funding?

To qualify, you must be a plaintiff seeking compensation for physical injuries caused by someone else’s fault. You must have retained an attorney on contingency and be at least 18 years old.

If you have a settled claim of over $50,000 but need funds now, you may automatically qualify for settled case funding.

Can I obtain legal funding without an attorney?

No, you cannot get pre-settlement funding without your attorney’s involvement in the loan process or without an attorney.

What are the interest rates and costs associated with pre-settlement funding?

The average pre-settlement funding company charges a fee or an interest rate of 60% of the advanced amount per year. Depending on the lender, these costs can include or exclude application fees, origination fees, and other costs.

As a general rule, the exact rate is set based on the case’s merit, complexity, and future settlement value. Interest rates are higher for riskier cases or those with prior injuries since it poses more or less risk to the lender, and lenders lose money in suits every day.

Alternatively, at Baker Street Funding, we provide non-compounding interest rates as low as 2.95% available for plaintiffs with probable merits of the case up to 3.4% per month. All our interest rates are capped in the third year of your advance, which ensures that you won’t be charged any additional interest after three years, even if there are unexpected delays in your case.

When should I consider getting a pre-settlement loan?

The following circumstances can help you decide whether you should consider a pre-settlement loan:

You’re facing medical expenses you can’t afford, and you need help financially covering them.
You don’t want to accept a low settlement offer from the insurance company, and need some temporary stability to negotiate a reasonable settlement or take your case to trial.
You are unemployed and have emergencies that require immediate attention.
You have re-evaluated your current financial condition, and you’re struggling to make ends meet.

What is the approval rate for pre-settlement funding?

Plaintiffs with strong cases and their attorney’s approval are almost guaranteed to be approved for pre-settlement funding. In fact, cases worth over $50,000, with no previous funding and no outstanding liens, have a near 100% approval rate.

Is pre-settlement funding a loan?

Pre-settlement funding is not a loan. While it may be referred to as a lawsuit loan or settlement cash advance, it is different from a traditional loan in several ways.

Unlike a traditional loan, pre-settlement funding companies do not require credit checks, income verification, or collateral. Additionally, there are no monthly payments or repayment terms until the case is settled and compensation is received. Likewise, the legal funding provider is prohibited from seizing your assets and cannot damage your credit if the case is lost.

What are the main advantages and disadvantages of pre-settlement funding?

The main advantage of pre-settlement funding is that it provides financial security to plaintiffs who may be struggling financially as a result of their injuries.

The main disadvantage is the high-interest rates associated with the advance, which can be more expensive than traditional loans or credit lines.

Can I apply for more than one pre-settlement loan?

Yes, you can apply for additional loans until you receive your settlement payment. Most funding providers approve additional advances if the case has progressed and the settlement value merits new funds.

How does the repayment work?

Your litigation advance company will receive repayment only if you are granted a settlement or jury verdict and collect on the proceeds. Your attorney will pay back the money (plus interest) immediately after receiving your settlement money soon after the successful completion of your lawsuit.

Is pre-settlement funding a good idea?

Pre-settlement funding can be a good idea when you need help managing severe financial hardships during a long and uncertain lawsuit. It can also be a great idea when you need help leveling the playing field against large insurance companies and deep-pocketed defendants offering as little as possible in settlement amounts. It can help you avoid accepting less money than you deserve out of desperation.

What types of cases are eligible for funding?

Pre-settlement funding is typically available for personal injury, medical malpractice, product liability, wrongful death, and employment discrimination cases, among other claims.

Personal Injury