How do lawsuit loans work in Florida?
A Florida lawsuit loan, or pre-settlement funding, is a non-recourse funding solution for Florida plaintiffs that lets them borrow money against their case. This funding option is designed to give you the cash you need now to cover medical expenses, food, child care, mortgage or rent payments, and other essential living costs while awaiting justice to be served.
Unlike other forms of funding, pre-settlement lawsuit loans in Florida use your future settlement as collateral for repayment. If you lose your case, you’re not held responsible for repayment. Plus, there is no negative impact on your credit score since the loan is not reported to credit bureaus.
Across all 67 counties and cities in Florida, Baker Street Funding offers non-recourse loans for lawsuits of all types. Some of these cases include car accidents, slip and fall incidents, medical malpractice cases, and more. Most of the cities we provide settlement funding in Florida are Daytona Beach, Tampa, Miami, Orlando, St. Petersburg, Jacksonville, Fort Lauderdale, Fort Myers, Tallahassee, and Sarasota.
See how a Florida lawsuit loan can help.
If you're a victim of an accident in Florida, you're likely taking on burdens that no one should have to take—physical pain, emotional distress, and a cloud of financial instability. It's as if life has thrown you into a storm you never asked for. In this dire moment, a pre-settlement cash advance provides a specialized financial option that grants you quick access to your settlement funds earlier.
Florida pre-settlement loans have no financial risk.
Obtaining a loan on your lawsuit settlement can provide you with a safe way to get financial help free of financial risk.
Lawsuit funding might even help level the playing field.
Lawsuits in Florida can bring justice to personal injury victims, but the process of seeking justice can result in injustice in itself. The Unfair Insurance Trade Practices Act requires insurance companies to process claims fairly, but it’s common for these companies to delay settlements, which compel claimants to accept lower compensation.
Financial support through lawsuit loans can provide you with the means to sustain yourself during protracted legal proceedings, allowing your attorney to negotiate a favorable settlement effectively.
It’s important to note, though, that lawsuit funding doesn’t guarantee a higher payment from the insurance company or defense attorneys. The final settlement is contingent upon the merits of the case and the negotiation skills of the legal counsel.
This is how the application process works.
Our Florida lawsuit loans have a simple application process. With your attorney's help and consent, you'll be able to borrow money from your Florida lawsuit fast. Our process is simple, quick, and hassle-free. This is how it all works.
Apply for fundingTo qualify for a lawsuit loan, apply online or over the phone and provide basic information about your legal claim. A dedicated loan specialist will contact you to discuss eligibility requirements shortly after applying.
Get a decisionWe will quickly call your attorney's office to verify your case information. Then underwriting will decide how much we feel comfortable advancing you.
Funding contractWith our streamlined process and customized loan structures, we'll create a finance agreement that's just right for you. (The average Baker Street Funding customer receives their cash advance in less than 4 hours).
Obtain your moneyYou will receive your lawsuit loan briefly after you and your attorney sign the legal funding agreement for your Florida case.
Apply for funding
To qualify for a lawsuit loan, apply online or over the phone and provide basic information about your legal claim. A dedicated loan specialist will contact you to discuss eligibility requirements shortly after applying.
Get a decision
We will quickly call your attorney's office to verify your case information. Then underwriting will decide how much we feel comfortable advancing you.
With our streamlined process and customized loan structures, we'll create a finance agreement that's just right for you. (The average Baker Street Funding customer receives their cash advance in less than 4 hours).
Obtain your money
You will receive your lawsuit loan briefly after you and your attorney sign the legal funding agreement for your Florida case.
Qualifying for a lawsuit settlement loan is easy.
It is true when they say that Florida is not exposed to ice much. But accidents do happen here, and financial strain is the top concern for those affected. If you have suffered injuries due to an accident that was not your fault and are facing a drawn-out legal battle, you may be eligible for a cash advance on your pending lawsuit if your case is worth over $50,000. You also need to have an attorney and be suing an insured defendant.
Because Baker Street Funding understands how critical it is for you to have the funds you require right away, we have made the lawsuit funding qualification process simple in Florida. If your lawyer doesn’t deny your loan request, we can guarantee funding evaluation the same day your case documents are received. It takes minutes to qualify. Simply call our funding team at 888-711-3599 to find out if you qualify for an advance against your expected settlement with the best lawsuit loan company in Florida and nationwide.
Secure legal funding in compliance with Florida laws and regulations.
Having to deal with a loan with unreasonable interest rates due to a lack of regulation is the last thing you need when you are involved in personal injury litigation. It’s for that reason that Baker Street Legal Funding operates under the same best practices and disclosures, which allows us to provide you with transparent terms, rate caps, and the lowest rates available on all our pre-settlement funding agreements.
Because we recognize that securing lawsuit funding during a critical time is crucial, we prioritize that all funding agreements comply with Florida state and federal laws. With Baker Street Funding, you can rest assured that you are getting safe, secure and compliant legal funding for your pre-settlement needs.
Get fast and low-rate pre-settlement funding with the best company in Florida.
Based in Naples, Florida, Baker Street Funding is one of the nation’s largest and most reputable pre-settlement funding companies. With years of experience funding pending litigation, we have helped thousands of Floridians with different types of claims get the cash they need when they need it most. By acting quickly, we make sure that you are able to obtain a pre-settlement loan against your lawsuit immediately and at a lower interest rate than you would otherwise pay to another lender.
Trust in our experience and expertise as the best lawsuit settlement funding provider in Florida; it is our policy to provide you with a transparent contract with no hidden pages. Get the lowest-cost pre-settlement funding without any risks or surprises. No hidden fees or markups. Here are other ways we can help you:
Same day fundingWe can put the money you need directly into your bank account quicker and cheaper than any other pre-settlement lawsuit funding company near you. Get your money delivered to you in as little as 2 hours after signing the loan agreement.
A smarter way to borrow fundsUnlike other pre-settlement loan companies, we recommend our clients to be prudent and borrow only what they absolutely need. You can always request more cash advances later if necessary. In this way, your interest rate won’t rise up over time, and your repayments will stay low once you win.
Exceptional customer serviceWe pride ourselves on providing unparalleled customer service to personal injury plaintiffs who need help. That’s why you will have a dedicated team member who works with you to ensure that all of your questions are answered and any concerns addressed.
Confidentiality guaranteedOur pre-settlement lawsuit funding in Florida does not affect attorney-client privilege. All information provided to Baker Street Funding is confidential and cannot be disclosed.
Low interest ratesSave on interest with a simple interest rate from 2.95% up to 3.4% monthly. You can save thousands on your Florida settlement.
Capped rates for protectionLawsuit loans should come with protection, which is why we provide cash advances for lawsuits in Florida with a 2 to 3-year capped rate. After that cap, your interest rate on your FL settlement loan will stop.
Funding buyouts that work.If you've already received high-rate funding from another lawsuit loan company for the same case, you can refinance it with Baker Street Funding. We'll buy out your previous advance, and give you a lower rate.
Ready to apply for a Florida lawsuit loan?
Baker Street Funding offers no-risk lawsuit loans to Florida plaintiffs seeking immediate financial relief. With low rates, no monthly payments, no credit checks, and no repayment until you win, we make it easier to pay your expenses as soon as possible. This helps you spend your energy on your physical, financial and emotional recovery rather than stressing over money. Apply for a non-recourse lawsuit loan at the lowest rates through Baker Street Legal Funding and say goodbye to your financial hardship, starting now. Our application takes 2 minutes.
We provide financing for most types of civil cases.
Baker Street Legal Funding is a lawsuit settlement funding provider that operates in Florida and nationwide. We specialize in funding for various types of cases, including medical negligence, slips and falls, nursing home negligence, construction accidents, car accidents, premises liability claims, 18-wheeler accidents, motorcycle accidents, post-settlement cases, whistleblower disputes, worker’s compensation claims, and many more.
Have more questions? Contact us at (888) 711-3599. Our financial assistance team is available to answer your questions and facilitate your decision-making process.
The interest rates on lawsuit loans are based on the risks and complexities associated with the litigation. Depending on the lender, additional fees or charges may include origination fees, processing fees, and administrative costs. When the case is settled, the loan is repaid by your attorney in one lump sum from the settlement proceeds.
Baker Street Funding offers fast, risk-free pre-settlement loans in Florida with competitive interest rates. Rates vary from 2.95% up to 3.4% monthly. All our loans are available at a non-compounding rate. Non-compounding interest rates remains the same throughout your 6-month or yearly contract. Most of our clients see fixed rates over time. There are no added-hidden fees, and rates as low as 28% annually, ending in the third year. If your case takes longer than three years to settle, you will not be charged additional interest.
Most pre-settlement funding providers often offer compound interest rates. This means that you get charged interest on the principal amount, as well as interest on interest from previous months.
After your settlement is reached, compound interest can accumulate very quickly, causing your interest payments to increase rapidly, putting your lawsuit settlement at risk.
- Apply Online or Call Us. To get started, simply apply online or call (888) 711-3599 to speak with one of our representatives. Our goal is to make the application process as smooth as possible for you.
- Let Your Attorney Know. If you want to speed up the approval process, let your attorney’s office or law firm know about your legal funding application and that you’re okay with Baker Street Funding collecting any necessary information or documents.The documents we will need are those related to your case. These include liability, insurance limits, medical, police, and ambulance reports.
- Wait for 24-Hour Evaluation. Once we receive the information from your attorney, we will evaluate the merits of your case, including your likelihood of winning the lawsuit or settling your claim in Florida.
- Sign the Funding Contract. If your application is approved, you will receive a funding contract to sign the same day. Upon completion of the agreement, we can deposit the funds directly into your bank account or send you a check within 2 to 24 hours.
What is the eligibility criteria for applying for a lawsuit loan from Baker Street Funding in Florida?
Most pre-settlement funding providers have a set of criteria to qualify personal injury plaintiffs for a loan. Below are six minimum requirements to be automatically eligible for a quick Baker Street Funding non-recourse loan.
- Have a valid employment, civil rights, personal injury lawsuit, a workers’ comp claim, or an accident case in Florida.
- Be involved in a “no-fault” Florida accident that caused you considerable injuries.
- Have a strong liability claim against a properly insured defendant.
- Have an attorney who can verify the legitimacy of the lawsuit.
- A cooperative lawyer. Under Florida state law, these types of loans are subject to repayment by your attorney.
- If you have a settled case, Baker Street Legal Funding accepts settlements over $50,000. We only need one piece of documentation and a five-minute consultation with your attorney.
As soon as you have met these minimum eligibility requirements, several other factors will be taken into account in the processing of your funding application. These include any additional liens (tax liens, child support, or bankruptcy). For more information about eligibility requirements, please contact us directly at (888) 711-3599.
The maximum funding amount for lawsuit loans in Florida varies from case to case. In most cases, we will provide you with up to 10% of the total value of your case. For example, if your case is worth $50,000, you can take out $5,000.
No. A pre-settlement funding company is not allowed to interfere with a case or pay lawsuit loans to settle claims. The Florida Bar Opinion 70-8, clearly states: “The attorney also shall not allow the funding company to direct the litigation, interfere with the attorney-client relationship, or otherwise influence the attorney’s independent professional judgment.”
The Florida Bar prohibits lawyers from giving money to clients.
According to the Florida Bar, Ethic Opinion 72-27, attorneys are not allowed to advance cash to clients in connection with a court case. Nonetheless, your attorney is allowed to get funding for case costs and other litigation expenses.
As an alternative, Baker Street Funding can provide financing to help pay medical bills and emergency expenses. Your Florida loan is repaid out of the settlement or judgment of your case.
If your attorney refers the case to us, remember our loans are not cash advances from your attorney. Instead, they are a separate financial transaction between you and Baker Street Funding.
The following table depicts Baker Street Funding’s approximate amounts and costs for our settlement loans in Florida:
|Interest||Non-compounding starting at 2.95% p/month|
|Loan protection||2-3 year cap|
|Funding time||24 hours|
|Average loan amounts in Florida||$15,000|
|Funding amounts||$1,500 up to $10mm|
|Type of loan||Non-recourse|
|Workers’ comp eligibility||Yes|
|Personal injury claim eligibility||Yes|
|Civil rights case eligibility||Yes|
Understanding personal injury lawsuits in Florida and available financial support options.
As new laws and court decisions take effect, state laws are continually being revised in the legal system. At Street Funding, we strive to give our customers up-to-date information. While this information should provide you with a general understanding of the legal process in Florida, we strongly recommend that you contact your attorney to get advice specific to your situation.
Check out our resources.
If you are seeking to understand your funding options during a lawsuit, our resources provide essential information to make the most informed decision.