Otherwise known as “plaintiff legal funding,” “pre-settlement funding,” and “litigation financing,” lawsuit settlement loans are loans designed to help injured parties bridge the financial gap between the date of injury and the date they receive an award or settlement. Though a very useful tool and a lifeline for many, you may seek answers to a few important questions before deciding whether legal funding is right for you.

Lawsuit Funding FAQs

A lawsuit loan is essentially a cash advance against your anticipated personal injury settlement or award. If Apex Legal Funding agrees to finance you, we will advance your money to help you relieve your financial burden while your case is pending. You can use this money as you wish, and you only repay the loan when and if your case settles in your favor.

Despite its many names that include the term “loan,” pre-settlement funding is not a loan in the traditional sense. Rather, it is a form of non-recourse funding. If your case is successful, you repay your debt, plus interest or fees. If it is not, however, you owe us nothing.

If we agree to work with you, we do not actually “lend” you money. Rather, we purchase an interest in your case, much like your contingency-fee lawyer does. Before we agree to finance you, we ask your attorney for the details of your case. By “details,” we mean all documentation, evidence and notes, including your written report following the accident, medical records, proof of the defendant’s insurance, expert testimonies and other evidence. We take time to review the documents and will typically notify your lawyer within 24 to 48 hours. If we choose to purchase interest in your case, it means we “approve” you.

You may wonder why you would borrow money when you may be unable to work, have little to no savings left and cannot guarantee that you will receive the outcome you desire. There are several good reasons to go the lawsuit funding route, in fact.

For starters, litigation financing can equip you with the funds you need now to cover expenses that cannot wait until you receive a verdict, which could be years down the road. Second, lawsuit settlement loans level the playing field for otherwise cash-strapped plaintiffs. Many insurance companies and larger corporations count on plaintiffs running out of money and accepting a low-ball settlement offer as a result. With a cash advance, however, you can avoid financial hardship and still pursue the maximum value of your claim.

The great thing about litigation financing is that it does not require you to make monthly payments. In fact, you do not have to pay anything until you yourself receive payment. If your case is unsuccessful, you owe us nothing.

Yes, you must have an attorney on retainer and actively working on your personal injury case to qualify for lawsuit financing. Your attorney must also work on a contingency fee basis, which means, like us, he or she does not receive payment until and if you do. We maintain the attorney requirement because it gives us peace of mind that your case is in good hands, and that another professional saw fit to place his or her bets on you.

Unfortunately, there is no way to tell you just how much you can receive in advance without us first assessing the details and evidence of your case. We base our decision largely on your attorney’s assessment of the strength of your case and whether your negligence played a role in the incident. We will work with you and your attorney to assess your needs and determine an appropriate amount.

At Apex Legal Funding, we fund victims of a variety of personal injury accidents. Though not an exhaustive list, some types of accidents our clients have survived are as follows:

  • Car and trucking accidents
  • Construction accidents
  • Slip and fall accidents
  • Medical malpractice accidents
  • Head and neck injury accidents
  • Dog bite accidents
  • Premises liability accidents
  • Products liability accidents

We understand that injured parties often require financial support, regardless of how they sustained their injuries.

There are several ways to apply for a pre-settlement loan. You can submit an application through your lawyer, contact us online or call our office to schedule a meeting with one of our qualified lenders.