Need help with how to handle your finances due to lost income? A personal injury case or civil lawsuit can cause significant financial strain, with lost wages and expensive medical bills. If you’re struggling to make ends meet while waiting for your case to settle, you might wonder if there’s a way to get a cash advance on a pending lawsuit.
At Fund Capital America, we prioritize helping plaintiffs in California secure a cash advance on a pending lawsuit. Legal battles often come with financial strain, from medical bills to lost income, making it challenging to cover essential expenses.
Fortunately, pre-settlement funding, or a cash advance on a pending lawsuit, is available to help plaintiffs in California cover essential expenses during this challenging time.
Reasons for Getting a Cash Advance on a Pending Lawsuit
A legal battle takes a toll not only on your emotional and psychological state, it also affects your finances. The pressure of unpaid bills and inadequate home budget may push the plaintiff’s team to settle early. Accepting a settlement early may result in a compensation that is way lesser than what the victim actually deserves.
To avoid this, a cash advance may be a more practical solution. Aside from just and fair compensation, here are other reasons why it may be appropriate to apply for a cash advance on a pending lawsuit.
- You need funding that does not require many documents like income tax returns or credit scores.
- You prefer a lending program that doesn’t need collateral.
- A non-recourse loan eases the pressure of repayment and allows you to focus on the case.
- The amount you need cannot be provided by traditional lenders.
Criteria in Applying for Lawsuit Cash Advance
Case type
Funding providers mostly offer pre-settlement loans for cases like medical malpractice, personal injury cases, product liability and worker’s compensation claims. Normally, these cases have a higher possibility of winning – a major consideration for the majority of lenders.
Case merit
Case managers from the funding company will review evidence, witness statements, and legal arguments. The more solid merits you have for your case, the more qualified you will be for a lawsuit cash advance. Generally, companies prioritize cases with a solid foundation.
Active Attorney Participation
Plaintiffs who want to apply for pre settlement loans must be actively working with an attorney. This is an essential requirement because it shows the company that your case is a viable case handled by a legal professional who is assisting you to get the best possible treatment and has experience to maximize the settlement while vouching and ensuring that providers who assist you will get paid back when the case settles.
Potential Compensation Value
The amount you can borrow depends on the estimated compensation that you will receive. Lenders base your cash advance on the potential settlement because it allows them to disburse money with manageable risk.
State Laws
You must confirm that your state, such as California, allows these types of advances and ensure you meet any specific legal requirements within that jurisdiction.
Key Questions Plaintiffs and Attorneys Should Ask
When applying for a cash advance on a pending lawsuit, both plaintiffs and attorneys should ask critical questions to ensure they make informed decisions. Here are some key questions to consider:
Questions for Plaintiffs to Ask
What is the usage fee or what may be called interest rate or fee structure?
Ask the lender to explain the interest rates and any fees involved. Are there hidden charges that could reduce your settlement?
How much can I borrow?
Understand how the lender calculates the amount you are eligible to borrow. Will it be based on a percentage of your potential settlement?
What happens if I lose my case?
Clarify whether the advance is non-recourse, meaning if you lose the case, you won’t have to repay the advance.
How long does the approval process take?
Inquire about how quickly you can expect to receive funds once your application is approved. Some lenders offer funding within 24-48 hours.
What are my repayment terms?
Find out exactly when and how repayment will occur. Will the amount be deducted directly from the settlement, or do I need to make payments before the case is resolved?
How will this affect my final settlement amount?
Ask how the cash advance, interest, and fees will impact your eventual payout from the lawsuit. It’s crucial to know how much you’ll actually receive after the advance is repaid.
Can I apply for more than one advance?
Inquire if you can take out additional advances if needed. Be cautious, as multiple advances can significantly reduce your final settlement.
Questions for Attorneys to Ask
How does the funding company evaluate cases for funding?
Understand the criteria the lender uses to assess a lawsuit’s value and the likelihood of success. This will help gauge whether the case is a good fit for pre-settlement funding.
Will the funder require regular case updates?
Clarify if the lender will ask for frequent updates or if they will be involved in the case beyond the initial evaluation. Some lenders require ongoing communication with attorneys.
What are the legal implications of applying for funding?
Ask whether seeking pre-settlement funding could impact your case in any way. For example, could it lead to a conflict of interest or affect the outcome?
Does the funding company adhere to ethical and legal guidelines?
Ensure the lender complies with state regulations regarding pre-settlement funding. They should be transparent about their practices and any legal obligations.
Is there a cap on interest rates and fees?
Ask if there is a limit on the interest or fees that can accumulate. Excessive charges could substantially reduce the plaintiff’s net recovery.
How does the funder interact with the legal team?
Clarify the process for working with the lender. Will they communicate directly with you or go through your client? Clear communication helps avoid misunderstandings.
What is the impact on attorney fees?
Inquire whether the advance affects attorney fees in any way, such as if it alters how much your client will owe in legal fees.
Fund Capital America’s Legal Funding Process
Before pursuing legal funding, it’s essential to have a personal injury attorney handling your claim, as settlement funding is not intended to cover legal fees. Once you’ve secured an attorney, fill out our online form detailing your accident. We’ll use this information, along with input from your attorney, to determine a fair funding offer. You can then decide how much you need to cover expenses during the litigation process. Unlike lawsuit loans, settlement funding provides a more flexible and practical solution, as it doesn’t require full repayment.
Paperless Lawsuit Cash Advance Application
If you or someone you know has been injured in an accident that wasn’t your fault, we can provide financial assistance through our straightforward legal funding process. The entire application is entirely paperless.
We assess the case’s viability once we receive and review the necessary information. Upon approval, an agreement is sent to the complainant and their attorney, with funds provided for use during the legal proceedings.
Who is Fund Capital America?
Fund Capital America is a pre-settlement funding company that specializes in providing legal funds for law firms, plaintiffs of personal and injury accident cases, and medical professionals.
Fund Capital America’s Services
FCA offers several services that aim to ease financial burden of injury victims, legal teams and doctors who provide treatment for people who sustained physical damage from automobile or work-related accidents.
Our services include the following:
- Pre Settlement Funding
- Policy Limits
- Doctor & Medical Facility Directory
- Doctor & Medical Facility Scheduling
- Language Services
- Investigation Services
- Medical Legal Finance
- Surgery Funding
- Medical Lien Funding
- Law Firm Funding & Law Firm Banking Services
- Law Firm Line of Credit
- Medical Receivables Financing
- Law Firm Services
Get the Legal Funding Support You Need in Just 5 Minutes!
Here’s how it works:
Fill out our application form: It takes just 5 minutes to provide the necessary details about your case.
Get prequalified: Our team will review your application and get back to you swiftly, often within hours.
Need assistance? Call us at the number provided for immediate support from our knowledgeable staff.
Don’t let financial stress prevent you from focusing on your recovery. Apply now to secure your pre-settlement funding!
