What You Need To Know Before Applying for Accident Lawsuit Funding

Disclaimer: Consumer legal fundings and advances are not loans under applicable financing laws. Rockpoint’s products are non-recourse, meaning if you don’t win your case, you don’t have to pay us back. Receiving financial support in connection with a legal case is typically (and oftentimes incorrectly) referred to as a “lawsuit loan” or “loan.” Therefore, for the ease of search references, these terms may be used in this context to refer to our funding products, but we maintain our separateness from consumer loan products in all legal aspects.

Has a car accident, a pedestrian accident, a slip-and-fall accident, or another type of accident saddled you with so much medical debt that you don’t even know what to do next? Think about applying for accident funding through a lender like Rockpoint Legal Funding.

You can use this accident lawsuit funding to cover medical costs. You can also use it to account for lost wages. You can even put it to good use by paying for everyday expenses, like groceries, gas, and mortgage or rent payments.

Bottom line: Pre-settlement funding is helpful for many personal injury plaintiffs for various reasons. However, you should know several things before applying for a settlement advance in your case. Find out about them below.

What Is Accident Lawsuit Funding?

Accident lawsuit funding, also known as a lawsuit loan, is a type of financing reserved for those involved in personal injury cases. These cases often take months or even years to conclude.

In the meantime, those waiting for settlements or judgments from them often struggle financially. Only some people can afford medical costs and other expenses from car accidents, pedestrian accidents, slip-and-fall accidents, etc.

This is one situation where accident funds can help. Personal injury plaintiffs may apply for lawsuit advances and receive the money they need to hold over until their cases end.

The biggest benefit of taking out a lawsuit loan as opposed to a personal loan or another type of loan is that it’s considered a form of non-recourse funding. Because of this, personal injury plaintiffs won’t have to repay the funds they borrow unless they ultimately receive settlements or judgments in cases.

Instead, personal injury plaintiffs will have contingency-based repayment terms attached to their lawsuit settlement loans. This attribute distances them from any other loans people might want to take out as their cases progress in court.

How Does Accident Funding Work?

Given your current financial situation, does accident lawsuit funding sound like an excellent option? Then, it would help if you explored applying for a legal loan — right after you find out how this form of financing works when you put in an application.

Here’s a rundown of the steps you will need to take:

1. You must begin by finding a reputable lender to provide accident financing. Rockpoint Legal Funding is one trustworthy option.
2. You visit a lender’s website and complete an application by providing basic information about yourself and your personal injury case.
3. You give a lender time to review your application and assess the strength of your case. This may require a lender to discuss it with your personal injury lawyer.
4. You find out whether or not you’ve been approved for a lawsuit advance loan through a lender.
5. You have accident funding deposited directly into your bank account within just days.

How Can You Use Accident Settlement Loans?

The beauty of accident settlement loans is that there are virtually no limitations on what you spend them on. You will, after all, receive the money you’re expecting to win in a personal injury case, so you can view it as your money and not a lender’s money. A lender like Rockpoint Legal Funding isn’t going to put any significant restrictions on what you may do with a settlement advance.

Many personal injury plaintiffs use accident settlement loans to pay:

• Medical bills
• Legal fees
• Housing and transportation costs

However, some also choose to spend legal financing on other things. For instance, you can use funds from Rockpoint to take a much-needed vacation or cover the costs of Christmas gifts this year.

How Soon Can You Secure Non-Recourse Funding?

Another fantastic thing about accident lawsuit funding is that you won’t have to wait long for it to arrive. In some instances, personal injury plaintiffs receive legal financing from a lender like Rockpoint on the very same day they apply for it.

You might speed up the application and approval process by taking these steps:

• Include all the requested information — like your personal injury lawyer’s name and phone number — along with your application.
• Let your lawyer know you’re applying for a legal loan so they are prepared to speak with a Rockpoint representative.
• Respond to any additional requests from Rockpoint promptly.

Rockpoint can’t guarantee you will receive lawsuit funds within one or two days, but the lender tries its hardest to approve loans quickly. As long as you supply the necessary information, you shouldn’t have to deal with any extended delays.

Who Should You Trust To Provide Accident Loans?

Rockpoint Legal Funding has become the go-to source for accident lawsuit funding in recent years. Personal injury plaintiffs trust the lender for the following reasons:

• A nearly decade-long run in the lending industry
• A wealth of positive reviews from past clients
• An easy-to-understand application process

Rockpoint also offers great customer service and will assist you with any aspect of your application. It should only take a few minutes to see why so many personal injury plaintiffs have turned to Rockpoint for litigation financing during their times of need.

Call Us for Additional Information on Our Funding Options for Accident Lawsuits

Do you have more questions about obtaining lawsuit settlement advances through Rockpoint Legal Funding? We would be more than happy to answer them when you call us to discuss them.

Reach out to us at (855) 582-9200 today to speak with an experienced Rockpoint customer service representative about your accident lawsuit funding needs.