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One significant downside of having an ongoing claim that may lead to litigation in California is the risk of incurring substantial debt to manage daily expenses. This can be particularly burdensome if your case has resulted in serious physical injuries.
Legal funding can assist you in covering the mounting bills related to daily life while your income is affected and as you await a settlement for your personal injury case.
We’ve made it easy to take a cash advance while awaiting your settlement. Many plaintiffs give up on their lawsuit because it’s too expensive, but legal funding provides the financial support you need while pursuing your case. And it’s not as complicated as many people think. To apply for a cash advance on a pending lawsuit:
Provide your contact information, your lawyer’s name/phone number, and the requested cash advance amount. It takes less than 5 minutes to submit your application.
Our team of legal experts and underwriters will get all the information they need to make an offer. A member of our staff will call to review the details of your application.
We usually make an offer within 24 hours, after speaking with your attorney about the case. If you accept, we’ll email your contract to review. You can accept our full offer or only as much as you need for a cash advance on a pending lawsuit.
Pre-settlement funding, also known as lawsuit cash advance or litigation funding, is an arrangement that provides the plaintiff with a certain amount of their expected settlement amount even before their case concludes. This financial assistance can be crucial for those facing financial strain due to ongoing legal battles.
There is a common misconception that a cash advance for a lawsuit is a loan. The proper term for it is “non-recourse cash advance.” This means that the funder does not require repayment if the case does not succeed.
You will only pay back the amount you owe along with some additional charges, often referred to as a usage fee, if you win your lawsuit and receive compensation.
Reputable lenders will clearly outline the overall cost structure so you can assess whether the costs are manageable after the litigation process concludes. Here are other things you need to ask about when doing initial inquiries:
Simple Interest Rates
Opt for funding providers that offer simple interest rates to minimize the overall repayment amount.
Capped Rates
A rate cap ensures that the repayment amount remains manageable, regardless of how long it takes for your case to resolve.
Annual Percentage Rate (APR)
Understanding the APR gives a comprehensive view of the annual costs involved. Requesting a detailed repayment schedule can also help you compare options effectively.
We provide non-recourse cash advances on pending lawsuits involving a wide range of situations. These include lawsuits involving:
PRODUCT LIABILITY
MEDICAL DEVICES
ATHLETE INJURIES
Certain cases resolve quickly, allowing plaintiffs to receive compensation for injuries, accidents, or negligence. If you’re wondering whether to apply for pre-settlement funding, consider these situations:
Consider Their Years of Experience
A funding provider with extensive industry experience demonstrates their ability to handle clients effectively and maintain public trust. This experience assures you that they have the financial capacity to wait for litigation resolution without pressuring you into accepting an unfavorable deal prematurely.
They Charge Reasonable Rates and Processing Time
Compare potential companies based on interest rates, processing fees, and other charges. Choose one that provides clear explanations of their fees and outlines how much they will take from your settlement check once the lawsuit concludes. Additionally, look for a company that prioritizes quick decisions so you can access funds promptly.
They Practice Transparency
Transparency is essential when selecting a pre-settlement funding provider. From application through repayment, reputable providers should be upfront about all aspects of the funding agreement. They should provide clear written documentation outlining terms such as interest rates, fees, and repayment conditions.
In California, the timeline for filing a personal injury lawsuit is defined by the California Code of Civil Procedure (CCP) §335.1, which allows individuals two years from the date of their injury to initiate legal action. If a plaintiff does not file within this period, they may lose their right to compensation, regardless of the circumstances surrounding their injuries. This can create financial strain for victims who are awaiting their settlements.
The delayed discovery rule in California permits plaintiffs to file a lawsuit within one year from discovering their injury, rather than from the incident date. This is particularly relevant for those who may not realize the full extent of their injuries immediately after an accident.
For example, if someone was injured in a slip-and-fall incident on March 15, 2023, but only discovers a serious injury on June 10, 2023, they would have until June 10, 2024, to file their claim. During this waiting period, plaintiffs may face accumulating medical bills and living expenses. Legal funding can provide financial support during this time.
California’s at-fault liability system means that the party responsible for an accident is liable for damages incurred by others. The state also follows a pure comparative negligence rule, allowing plaintiffs to recover damages even if they are partially at fault. For instance, if damages are assessed at $40,000 and the plaintiff is found to be 40% at fault, they would receive $24,000 in compensation.
While waiting for settlements or court decisions, plaintiffs can experience significant financial stress. This is where legal funding becomes beneficial. Fund Capital America offers pre-settlement funding allowing plaintiffs to access cash advances based on their expected settlements. This funding can help cover essential expenses such as medical bills and lost wages while waiting for case resolution.
Understanding California’s personal injury statutes and how legal funding operates can empower plaintiffs to navigate their cases more effectively while managing financial challenges. Consulting with legal funding providers can help ensure that individuals receive the support they need during their recovery process.
Completing our online application takes less than five minutes. Our team will determine a cash advance offer based on the strength of your case, the injuries you have sustained, and your chances of winning. Apply now for a cash advance on a pending lawsuit or future car accident, personal injury, or medical malpractice settlement. For more information, call (855) 870-2274 and speak with one of our friendly legal funding specialists.
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