Pre-settlement Funding FAQ


What can we help you with? Answers to some of our most commonly asked questions about pre-settlement funding are below. 

What Are the Rates for Pre-Settlement Funding?

Our rates are custom-tailored to each case. You can generally expect rates to range from 2.95% to 3.4% monthly, and these are non-compounding rates for plaintiffs. The good news is that these rates are fixed; they won’t increase over time. If your case takes more than three years to resolve, all charges stop after that third year.

Caution: Be wary of companies that claim to offer 1% rates. Always read the fine print, as these rates are often compounding and can be misleading.

Is Pre-Settlement Funding Right for Me?

If you’re a plaintiff in a lawsuit and need immediate financial relief, pre-settlement funding could be the best option for you. Consider your willingness to sign with a company that offers a monthly rate for this service before making this decision.

Is My Credit Score a Factor in the Approval Process?

Your credit score is not a determining factor in the approval process for pre-settlement funding. The primary consideration by underwriting is the strength and merit of your legal case.

Can I Pay Off the Funding Early? Are There Any Penalties?

Yes, you can pay off the funding early if you wish. There are generally no penalties for early repayment, but it’s always best to check the specific terms of your agreement.

What Should I Look Out for When Choosing a Funding Company?

Transparency is key. Look for companies that are upfront about their rates and fees. Non-compounding interest rates are generally more favorable. Also, don’t underestimate the power of customer reviews; they can provide valuable insights into the company’s reliability and quality of service.

How Does Pre-Settlement Funding Work?

The process is quite straightforward. First, you apply for funding. Your case is then evaluated, and if approved, you receive the funds. During this process, you’ll need to provide details about your case for evaluation. Once approved, the funds are yours to use as you see fit.

How Long Does It Typically Take to Receive Funding Once an Application Is Approved?

Once your application is approved, the funds are usually disbursed within 24 to 48 hours. However, the exact timeframe can vary depending on your bank and other logistical factors.

What Types of Legal Cases Are Most Commonly Eligible for Pre-Settlement Funding?

Pre-settlement funding is available for a variety of legal cases, including but not limited to personal injury, car accidents, civil rights litigation, employment disputes, and commercial litigation. The key factor is the merit of your case; if it has a strong likelihood of winning, it’s likely eligible for funding.

Can I Use the Funds for Any Purpose?

No, there are no restrictions on how you use the funds. Whether it’s for living expenses, medical bills, rent/mortgage, child care, or other needs, the choice is yours.

Do I Need to Have an Attorney to Apply for Pre-Settlement Funding?

Yes, having an attorney is a requirement for applying for pre-settlement funding. This ensures that your case is legitimate and has a reasonable chance of winning.

What Happens If I Lose My Case?

One of the benefits of pre-settlement funding is that it’s non-recourse. This means if you lose your case, you’re not obligated to repay the funds.

How Is Pre-Settlement Funding Different from a Loan?

Unlike traditional loans, pre-settlement funding doesn’t require credit checks or employment verification. It’s based solely on the merits of your case.

Can I Apply for Funding More Than Once?

Yes, you can apply for additional funding if your case takes longer than expected to settle. However, each new application will require a separate evaluation.

Should I Know About Any Legal or Ethical Rules Before Getting Pre-Settlement Funding?

Absolutely, you should! Think of pre-settlement funding as a financial partnership between you and us. It’s a non-recourse deal, meaning you only pay us back if you win your case. But like any partnership, you should know what you’re getting into. Always chat with your attorney to make sure you’re making a smart move that works in your favor.

Is My Information Confidential?

Absolutely. Baker Street Funding adheres to strict confidentiality and privacy standards to ensure that all of your information is secure.

Is There a Maximum or Minimum Amount I Can Apply For?

The amount you’re eligible to apply for is closely tied to the value of your legal case. While each funding company sets its own minimum and maximum limits, at Baker Street Funding, we offer a tailored approach. You can apply for up to 10% of your expected settlement if your case is ongoing, and up to 30% if your case has already been settled.

What Happens If My Case Settles Quickly?

If your case settles quickly, you’ll be required to pay back the funded amount along with any agreed-upon fees. The quicker the case settles, the less you’ll likely owe.

How Do I Update My Contact Information with the Funding Company?

Updating your contact information is usually very simple. You can do this by contacting your funding associate or by calling us at (888) 711-3599.

How Important Is Transparency in Interest Rates and Fees When Choosing a Pre-Settlement Loan Company?

Transparency in interest rates and fees is paramount when selecting a pre-settlement advance company. Hidden fees and unclear rates can lead to financial strain down the line. Always opt for a company that provides full disclosure and transparent terms.

Why Is Having an Attorney a Mandatory Requirement for Most Pre-Settlement Funding Companies?

Having an attorney is important for more than just the strength of your case; it’s also a practical requirement. In our funding structure, the amount you receive is set up as a lien against your pending settlement. Your attorney is responsible for repaying this lien once your case is settled. This guarantees us a seamless repayment process and adds an extra layer of security to the transaction for everyone involved.

How Should One Balance the Need for Quick Funding with the Quality and Reliability of the Funding Company?

The need for quick funding is understandable, especially when you’re facing financial hardships. However, consider choosing a funding company that doesn’t just promise speed but also delivers on quality and transparency. A reputable company should be able to process your application within 24 hours while offering favorable terms. The bottom line is that speed and reliability should go hand-in-hand; you shouldn’t have to sacrifice one for the other.

How Do I Get Started?

Starting the lawsuit loan process is simple. Fill out our online application form, and our team will get in touch with you for the next steps.

Select a legal funding service to get started. 

Attorney Requests

Lawsuit Loans

Litigation Funding

Personal Injury Loans

Settled Case Loans

Surgery Funding

Or just call us at 888.711.3599 to apply.