Settlement funding and pre-settlement advance funding is available (not for all types of cases, however). If you have no other financial options, then you need to understand that your projected settlement amount will be less than you envision. If you can live with that and need the money in order to get over a tough financial time, then we will work with you to get your lawsuit funding advance. The advance funding terms are explained below.
Settlement funding puts a lien on your settlement – nothing-out-of pocket from you. You get an advance from your settlement with the fees and funding advance taken out of the settlement, secured by a lien.
A lawsuit advance can help you to fight your lawsuit, so you need not settle for less than you are entitled. When you are in debt - you may be pressured to take less than your case is worth - and the attorneys can sense this, pushing you to settle fast and for less. A funding advance can help you get the financial pressure off and take time to wait for your entitled money.
Pre-settlement funding can seem expensive - it is non-recourse, meaning if your case does not settle, then you do not pay it back - the risk is on us. This means - ask only for what you need, not for what you want. Rates have come down - in the past, it has cost up to 15% per month (but not not from us), but we can offer a much better and lower rate.
We offer competitively low rates.
OPTIONS ON TERMS - Funding terms may change from time to time (though nothing will change on your funding advance once you sign a contract), so the following are just examples of terms that have been out there, to give you an idea of what to expect. We always try to keep your costs and repayments as low as possible (it's also case dependent). Funders keep changing the rates and terms to keep up with economics and industry rates - so this is not a hard, set guideline - it is meant to give you general information so you can know what you are getting into, and you can push for fair terms.
Remember the below scenarios are only examples of what you might expect - this could be different depending on the details of your case.
For any funding on a settled case, a flat $2000-$2500 per $10,000 you seek, for instance - could go lower for higher requests, and terms may be different for amounts less than $10,000 requested. Funding can often be immediate - same day or in 24 hours of when the paperwork is in.
For a pre-settlement advance, maximum 10-15% of the amount to be funded, plus a variable fee (depending on how much you want advanced and how solid your case is - could be in the range of $500 plus or minus), and then a percentage rate compounded monthly until settlement is paid. May have minimum term of months to pay back.
Each case is looked at on a one-by-one basis. We can offer very low rates in certain cases, but the terms will be set with each case as it gets to our underwriters. You'll know before you have to decide to take the advance or not.
On particularly difficult to fund cases, the terms may be different and rates may be higher, so you need to decide if this process is worth it to you.
There may be some exceptions to the above scenarios of the funding process, but we need to see your case in detail to know what we can absolutely quote you. Certain funders work with certain types of cases - we can't promise you one rate over another - we can only promise to try to keep it as low as possible. You will know the advance funding terms as the process goes on, and before you sign any contract.
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Contract terms are given so you can decide.