4 Requirements for Pre-Settlement Loans

Staff Writer | November 19th, 2018

If you are involved in a court case in which you have filed a suit for damages from injuries that stemmed from the negligence or harmful actions of another entity, you may be eligible for a pre-settlement loan. As the term implies, a pre-settlement loan is a loan given to tide you over until your case is settled.

It works like a cash advance. If you win your case, the loan is paid back with the proceeds of your victory. If you don’t win, you owe nothing. It is risk-free.

Who Qualifies for Pre-Settlement Loans?

You must meet the four requirements below to qualify for a pre-settlement loan.

  1. The personal injury or harm you experienced can be proven.
  2. Your attorney is working on a contingency basis. That means if you should not be awarded damages, you do not owe your attorney any fees.
  3. Either the defendant or the insurance company of the defendant, has the funds to pay any award the court grants you.
  4. Your lawyer participates in the process of loan approval, and consents to repay LawStreet Capital from the settlement or jury award you eventually receive.

Benefits of Pre-Settlement Loans

If you have been injured or harmed by another party, it is not uncommon to feel pressure to settle any case. You may need money to pay your rent or mortgage, your bills, to buy groceries and more. This is particularly true if your injury affected your ability to work and earn. If you obtain a pre-settlement loan, you can use it for all these needs and more. You won’t feel financial pressure to settle.

This also gives you negotiating power in any eventual settlement. Often, the opposing side or an insurance company may try to get you to settle for a lower sum that you really deserve. If you have money from a pre-settlement loan, you can feel comfortable waiting until the case is fully heard and decided.

Is My Lawsuit Eligible for a Pre-Settlement Loan?

LawStreet Capital can provide pre-settlement loans to many different lawsuit types. These include injuries suffered at work, like construction accidents, or through practices in your workplace, such as discrimination and wrongful termination.

It includes injuries from products or services you purchased, such as commercial litigation, product liability, premises liability in a store or other place of business, and negligence.

Pre-settlement loans can cover maritime liability, in cases suffered either on vacation or at work on a boat.

They can cover medical malpractice cases, such as birth injuries or other instances of malpractice. They can be used in pharmaceutical cases.

It includes motor vehicle accidents, slip and fall injuries, and wrongful death cases.

LawStreet Capital Can Help

We are the premier choice when it comes to pre settlement loan companies in the United States. Our loans have no hidden fees, a free application with no obligation, and the lowest rates in the industry. We offer 24-hour approval and you can also receive the funds within 24 hours. Call us today to learn more!