What is pre-settlement funding anyway?
Pre-settlement funding is also known as a lawsuit loan, but despite the word “loan,” it is not a loan. A pre-settlement advance is a risk-free cash advance based on an expected court resolution or compensation from a claim. Legal funding is a temporary financial tool that gets you the cash you need to use for a variety of reasons while you wait for your claim to successfully conclude.
A lawsuit loan lets you borrow the cash you need before your case settles.
Need financial assistance while your attorney fights for the best settlement for your legal proceeding? Apply for a cash advance against your anticipated settlement fast. Call us today for a no-obligation consultation and get your pre-settlement funds today.
- Risk free
- Fast approvals
- Low rates
- 24-hour funding
Why Baker Street Legal Funding?
Plaintiffs have overwhelmingly chosen Baker Street Legal Funding because of the high level of services we offer. Baker Street Funding is well-capitalized; this is why we pride ourselves on providing our clients with lawsuit litigation funding tailored to their needs and ensuring that it is the best financial solution for them. We help personal injury victims get access to justice with lawsuit cash advances that have low rates, zero risks and a 3 year term.
Low rates
Apply for a simple and convenient advance against your settlement proceeds with no hidden fees or markups. If approved, you’ll borrow a set amount of money with non-compounding low rates.
Zero risks
The best part of it all is, only pay if you win your personal injury case. Baker Street Funding only gets reimbursed once you win your lawsuit.
3-year term
Get funds from $1,500-$1,000,000. We offer a 3 year cap, meaning your interest rate ends in the third year!
How pre-settlement loan work.
Apply with Baker Legal Street Funding.
Simply start by applying for a lawsuit settlement loan online or over the phone. You'll get a quick response to your request from one of our funding experts, who will get to know a bit more about you and your case before they pre-qualify you for cash.
Underwriting contacts your attorney.
After you get pre-qualified, our underwriter will contact your attorney to evaluate your case. The money we are potentially advancing requires documentation of your claim and possible medical records that your attorney will provide. It is important that your attorney provides the required documentation about your lawsuit.
Qualification and approval.
After we qualify your case for a pre settlement advance, we will contact you to give you the good news. Then, we will formulate a lawsuit funding contract for you and for your attorney to sign that will state the exact amount we will purchase from your settlement.
Sign the funding contract and receive your cash.
After you review and accept the contract terms, you and your attorney will sign the funding documents and send them back to us. You will get your cash within 2 - 24 hours from the moment we receive the signed contract, depending on the method of payment you choose.
See the settlement funding advantages.
Settlement loans or lawsuit loans offer victims involved in legal battles a smart and effective way to cover unplanned and completely unpredictable costs and emergency expenses resulting from a personal injury. An advance from your settlement can help you pay your bills, move forward with your claims, and accept a better offer from the insurance company.
Pay your bills
Settlement funding sometimes is an underrated choice. However, it is one way to pay for unexpected obligations. Use the funds to pay medical bills, transportation to work, household costs, and more while your claim reaches a good and feasible outcome.
Get a better settlement
Level the playing field against large insurance companies while the legal process is active. It could help you avoid accepting less money than you deserve out of desperation.
No credit or job check
There is no credit card check or employment verification to qualify for a lawsuit cash advance.
We fund all types of claims.
Settlement funding FAQ.
How long is the lawsuit advance process?
The legal funding process length varies from 24-48 hours from the moment your lawyer sends your case file.
Your attorney's role
Your attorney needs to be aware of your concerns, so they guide you correctly on what legal funding company to pick. Baker Street Legal Funding has excellent attorney relationships all over the United States and understands that legal representation is busy working on getting the best possible outcome for you. If your lawyer needs to find out who we are, we can contact the law firm after your application. With our initial conversation, we can get the process moving forward fast and efficiently.
How much should I borrow?
Legal claims are not easy to handle. Realize how much money you need to borrow first, 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.
What is the eligibility criteria?
Your eligibility depends on the value of your case. The approval amounts range from $1,500 up to $750,000.
To qualify for pre-settlement cash, the following is required:
- You have retained an attorney on contingency;
- The applicant must be at least 18 years of age;
- All applications must have pending lawsuits;
- The defendant has to be insured.
If you have a settled claim but need funds now, you may be automatically qualified for post-settlement plaintiff funding.
What does non-recourse settlement funding mean?
Non-recourse legal funding means that a third-party plaintiff financing company will buy a portion of your expected settlement payout or personal injury award based on your litigation strength in exchange for the advance.
The advancement will not be based on recourse (like a car or a house). Your attorney will only pay back the money after you receive a monetary award promptly after the completion of your lawsuit.
Legal funding companies cannot come after you if your court case does not settle in your favor.
How many advances can I get?
You can get as much funding as your case allows. All plaintiffs are welcome to apply for additional funds.
How much does it cost?
We provide the lowest cost pre-settlement funding no matter how complicated your case is, starting at 2% non-compounding to 3.4%.
Nevertheless, your legal case’s strength will predict the interest rate on your advance because it either poses more or less risk to us.
For example, if you have a personal injury case with prior injuries, you may default on paying the borrowed amount because the lawsuit may end up as a loss.
Legal funding companies lose investments in suits every day, and this is why and lower rates are only offered to those with strong claims.
Our contracts and rates are transparent and easy to read; you won’t have to worry about those hidden fees.
How does repayment work?
A pre-settlement advance company receives the payment only if you are granted compensation.
The repayment of funds will be made by the law firm representing you when they collect the proceeds. Then he will:
- Pay medical liens;
- Set apart his fees;
- Payback the litigation cash advance company the borrowed funds, plus extra charges written on page 2 of the agreement.
If you don’t receive a payment from the defendant, you will no longer be tied to paying back the advanced funds.
States we fund
*We provide funding for personal injury, employment/labor, and civil rights lawsuits in the following states:
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, 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 $110,000. Case value must be at least $1.1 million+.
- We currently fund in Nevada at a minimum of $50,000. Case value must be at least $500,000+.
- We currently fund in Illinois at a maximum of $40,000.
*Litigants with corporate disputes are eligible to receive funding in every state in the United States (and eligible countries).
*Funding for attorneys is provided in most states. Please get in touch with us to find out if your state is eligible.
Claims we fund
While lawsuit loan companies offer to fund for a small portion of claims, Baker Street Funding approves most types of claims:
- Asbestos
- Carbon monoxide poisoning
- Nursing home negligence
- Negligent security
- Medical malpractice
- Mesothelioma
- Product liability
- Premises liability
- Roundup lawsuits
- Slip and fall
- Swimming pool accidents
- Toxic mold
- Veteran Affairs Military Lawsuits
- Wrongful death
Motor vehicle and car accident loans
- Bicycle accidents
- Bus accidents
- Motorcycle accidents
- Rear-end accident claims
- RV accidents
- Semi-truck 18 wheeler accidents
- Uber, Lyft accidents
- Train accidents
Employment and labor lawsuit funding
- Patent Litigation Funding
- Securities and Shareholder
- Qui Tam Whistle Blower
- International Arbitration
- Commercial Litigation
- Monetization
- Competition and Anti Trust
- DIP Chapter 11 Bankruptcy
- Veteran Affairs Settlements
- All settled mass torts
Get funds from your settlement structured to your needs, today.
Baker Street Funding’s structured method of financing has helped thousands of plaintiffs get paid in advance of their settlement for less rates than other companies. Apply for legal funding with the best rates today!
