What are workers comp lawsuit loans?

A workmans compensation lawsuit loan in Louisiana is when a worker obtains money advanced prior to their settlement for an injury sustained at work. The money you receive from a settlement advance company is not considered a loan because it is non-recourse. What this means is that there is no personal liability to pay the advance back if your case does not successfully conclude—so you have nothing to lose. Furthermore, pre-settlement advances for workers in Louisiana are technically not loans, such as traditional loans. In short, workers compensation funding provides advances for employees in Louisiana who have lost work and wages while waiting for the settlement to come through during an injury until they can get back to work.

Here is the process of getting a worker’s comp settlement advance in Louisiana.

Apply

Fill out the application with basic information about your claim, such as your name, contact info, date of injury, attorney's name, and contact.

Qualify

Then, our team will review your application and provide you with a qualification shortly after.

Approval

If your workers comp claim gets accepted, your funding associate will contact your lawyer to provide the necessary documents and make a loan decision.

Cash

24 hours later, you will receive a loan decision, followed by a funding contract. You will receive the lawsuit cash advance once your loan agreement is signed.

Better than traditional loans.

One key benefit of pre-settlement advances is that they allow people affected by workplace injuries not to have to worry about financial statements or long waiting periods associated with traditional bank loans—meaning you don’t have to wait weeks after applying to obtain the money you need.

No credit checks—at all.

Legal funding can be incredibly beneficial for individuals who have experienced an occupational injury or illness while on the job because there are no credit or income requirements in order to be approved.

The lawsuit loan process is faster with Baker Street Funding.

Baker Street Funding guarantees fast processing times for all advances on workers compensation claims, which allows you to receive a quick decision, and if approved, you can cover any urgent cost such as rent, mortgage, daily expenses, medical bills and more.

No risk—whatsoever.

There is no repayment for the advance until your full and final settlement in Louisiana takes place. Additionally, because there is no personal liability required upon repayment unless you get compensated with a settlement, you will experience a financial burden alleviation.

Get started with lawsuit funding in just a few clicks.

Whenever you need financial assistance after suffering an injury or disability at work, Baker Street Funding can provide you with funds within 24-48 hours while you wait for your final settlement. If you or someone you know has suffered a work-related illness or injury, simply apply for funding on your case for extra financial security and receive up to 10% of the value of your expected settlement payout.