How Losing a Case Affects Your Pre-settlement Legal Funding
Unfortunately, the legal process can be lengthy. The time between when an accident happens and when you receive compensation for your injuries can be months if not years. Pre-settlement legal funding helps to bridge the gap between the initial accident and your settlement, but what if you do not win your case?
At Triumph Legal Funding, we do things differently. We make legal funding easy, providing fast approvals. Our firm provides legal funding for injury victims and their attorneys nationwide. If you have a pending lawsuit and are in need of financial help, contact our office to apply for funding.
What Happens If I Lose My Lawsuit?
With a traditional loan, funds are borrowed and repaid, generally with interest. Pre-settlement legal funding, however, is not a loan. It is an advance on your potential settlement. The funds are repaid through an agreed-upon portion of the eventual compensation you receive on your case.
The lender, in a pre-settlement legal funding case, absorbs the risk. They provide funding based on the likelihood that your case will be successful. If you lose your lawsuit, you pay nothing. In that way, pre-settlement legal funding is provided without recourse.
What If I Don’t Receive as Much as I Expected?
No matter what your eventual settlement is, you only pay an agreed-upon portion to the legal funder. Therefore, if your settlement ends up being less than you anticipated, you will still pay the percentage that you originally agreed to.
If the lender provided you more than you received in your settlement, they will still be entitled to their portion of the settlement based on what you agreed to in the contract you initially signed.
Do I Have to Return My Pre-settlement Legal Funding?
If you do not win your case, you are not required to return your pre-settlement legal funding. You are only obligated to pay the agreed-upon portion of your settlement if money is recovered on your behalf.
How Much Money Will I Receive from a Pre-settlement Legal Funder?
The amount of funding you will receive depends on a number of factors, including the circumstances of your case and its likelihood of success. An underwriter will take the information you and your attorney provide to determine how much your case may potentially settle for. With this information, they will determine the amount of funding they will provide.
Apply Now for Legal Funding
If you are an injury victim and are working with an attorney, you may be eligible for pre-settlement legal funding. Pre-settlement legal funding can help provide financial stability while you wait for your lawsuit to resolve. Contact our office today to apply for funding. Funding is fast, easy, and non-recourse.
At Triumph Legal Funding, we provide legal funding for injury victims and attorneys across the country. We provide funding for a wide variety of cases including motor vehicle accidents, labor law claims, and more. Get the financing you need now with a fast, risk-free approval. Find out how we can help you get back on your feet.