How to Access Pre Settlement Lawsuit Loans


Pre settlement lawsuit loans are among the soft options that plaintiffs have when faced with financial difficulties on the face of lawsuits. This type of legal funding is more popular in instances of personal injury lawsuits arising from road accidents or other circumstances like work place accidents, medical malpractice etc. These are instances where the victim could have potentially suffered serious injuries resulting in absence from work and consequent loss of pay, Therefore, the financial industry has evolved legal funding to help mitigate the financial sufferings of the plaintiffs. Often times, it takes upto 2 years or more for personal injury lawsuits to be decided. The long wait can lead to serious financial challenges for the plaintiff and his/her family. Fresh credit tends to be difficult and available limits have been used up. Your credit score is below the threshold limit and most lenders cannot approve you for another loan. Pre settlement lawsuit loans qualify to be your ideal choice in these circumstances.


Your projected settlement is taken as the basis for a pre settlement lawsuit loan. Lenders would therefore need an assessment by your attorney indicating the projected settlement amount. When you involve your attorney for this purpose, he may also recommend some reliable lenders for you to work with. You can now make an application to the lender along with the attorney’s assessment and in most situations the lender communicates approval in no more than 48 hours. You are at liberty to use the loan amount in any manner that suits your needs.


Pre settlement lawsuit loans are ‘no recourse’ loans and repayments are due only against the settlement of your lawsuit. The bother of monthly payments are also not part of this loan. Most loan approvals are limited to about 20% of the projected settlement although you are better off limiting the loan to your immediate needs.


Why pre settlement lawsuit loans?

The financial liability arising out of personal injury lawsuits often rest with the insurance carrier. Therefore, the assessors and insurance companies are always keen to peg the claims at the least possible amount. A financially constrained plaintiff may come under duress to accept an amount lower than can normally be expected through a court verdict. By opting for pre settlement lawsuit loans, the plaintiff can keep away the offers from the insurance carriers/assessors and wait for the courts to decide issues. Often times, this puts more money in the hands of the plaintiff . When you consider the legal angle, pre settlement lawsuit loans help in strengthening the case for the plaintiff particularly when the loan is used to pay for medical procedure. A competent attorney can use the details of the medical procedure to establish the financial, mental and physical agony that the plaintiff has suffered.



The soft terms and the risk perception adopted by the lender makes the pre settlement lawsuit loans more expensive compared to other forms of credit. The enhanced costs only partially cover the risk of the legal funding companies and this measure is essential for their survival. One way you can minimize your costs is by pegging the loan to your barest minimum needs and not considering the maximum loan available.


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About the author
Michael Smith is the Customer Experience Director at 911 Lawsuit Loans LLC and is responsible for client relations throughout the funding.
Author:Mike Smith