Lawsuit Loan Glossary
When searching for the best legal funding company to serve your needs, it can sometimes be difficult to sort through the various loan options available and decide which is right for you. But lawsuit loans are much simpler than you might think—not really loans at all in the traditional sense, they are more like no-risk cash advances on the jury award or settlement you expect to receive when your case is resolved. LawStreet Capital solutions do not require credit checks or employment verification for loan approval, and if you do not win your case, you do not have to return a cent in repayment.
If you are a plaintiff, lawsuit loans can bridge the financial gap from now until your settlement or jury-awarded damages are paid out. In periods of financial strain you may be tempted to instruct your lawyer to settle your case for less money than you deserve. But with legal funding provided by LawStreet Capital, you can meet the challenges of rent, mortgage payments, school tuition, medical expenses, or simply covering the normal cost of living if you have suffered an injury and cannot work. If you are already receiving your settlement in the form of structured periodic payments, we will purchase all or part of your remaining settlement in exchange for one immediate lump sum payout.
For attorneys and law firms working on a contingency basis, litigation financing provides the money you need to hire expert witnesses, pay for case and trial costs, enhance your business development strategy, or operate through periods of limited cash flow.
Legal loan options
Some of the more common terminology in regard to litigation loans includes the following:
Lawsuit loans: Also known as pre settlement loans, or litigation loans. As a direct lender, LawStreet Capital provides you with a cash advance in anticipation of your eventual jury award or settlement. These loans are classified as “non-recourse,” which means that if you lose your case, you do not have to pay the loan back. LawStreet Capital assumes all of the risk, while you get the cash you deserve, when you need it.
Pre settlement loans: Also known as lawsuit loans. If you are a plaintiff in a lawsuit that has yet to reach resolution, you can receive a cash advance on the monetary damages you expect to be awarded, or the settlement you expect to negotiate through your attorney. Pre settlement loans pose no risk to the plaintiff: Repayment of the loan is only required if you win your case. If you lose your case, you keep the money we lend you, with no repayment required.
Post settlement loans: In many cases, a plaintiff’s lawsuit has reached a favorable resolution, but the settlement has yet to be paid out. LawStreet Capital will advance you the money that is already yours—but we get it to you now, in whatever amount you need, at the industry’s lowest interest rates.
Personal injury lawsuit loans: No matter what stage their case has reached, plaintiffs involved in personal injury litigation, including medical malpractice lawsuits, car accident lawsuits, workers compensation lawsuits, wrongful death cases, and more, are eligible for all forms of legal funding, including pre and post settlement loans.
Commercial litigation funding: Commercial lawsuits involves any kind of business-related legal disputes, such as breech of contract, partnership conflicts, debt collection, patent disputes, and more. If your business is engaged in a legal dispute, commercial litigation funding may help your company stay afloat until the case is resolved.
Drug lawsuit loans: Plaintiffs who have been injured by unsafe prescription medications, or who were not adequately warned by drug companies about the risks they were facing, are eligible to receive lawsuit loans as they await the outcome of their case. Thousands of people across the country have filed suits against the manufacturers of drugs such as Actos, Accutane, Chantix, Zoloft, Pradaxa, Propecia, and many more.
Defective medical device lawsuit loan: Plaintiffs who have suffered serious injury due to defective medical devices, including pacemakers, pain pumps, pelvic mesh, and hip or knee replacements, are eligible for both post and pre settlement loans.
Structured settlement loans: A structured settlement is a settlement paid out in periodic sums over the course of months or years. If you are receiving structured payouts, but need a larger lump sum today, LawStreet Capital will advance you the money that is already yours by purchasing the remaining payouts. Get your money now, not later—and at no risk to you.
24-hour approval for lawsuit loans
At LawStreet Capital, we make the loan process as simple and stress-free as possible. The application is easy—no credit check or employment verification is required! After speaking to your attorney, we will approve your loan within 24 hours. Once you are approved for a no-risk settlement loan, we will overnight your cash to you. It’s as simple as that! Call our helpful representatives today toll-free at 800-345-8500.