What To Look for in a Reliable Lawsuit Funding Company

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.

Are you interested in applying for a lawsuit cash advance? Whether you could benefit from legal funding during a personal injury lawsuit or need financial support after settlement negotiations are complete, you shouldn’t have any trouble tracking down lawsuit funding companies that can lend a helping hand.

According to a 2024 Reuters report, about 40 lawsuit funding companies currently exist in the U.S. They’re responsible for providing the cash-strapped plaintiffs in lawsuits with nearly $3 billion annually. Applying for a lawsuit cash advance through one of them can help you manage your finances more effectively before, during, and even after a lawsuit.

Don’t just trust the first lawsuit funding company you can find to set you up with a lawsuit cash advance, though. Here are several key qualities you should look for in a reliable lawsuit funding company.

Non-Recourse Funding Options

Some lawsuit funding companies will provide you with a cash advance and expect you to pay it back at the conclusion of your personal injury case, regardless of the outcome. They’ll also sometimes attach high interest rates to their cash advances to turn profits on the lawsuit funding they extend to plaintiffs.

Avoid these types of companies at all costs. Instead, search for one that can offer a non-recourse funding option. Under this arrangement, you won’t be required to repay a cash advance if your lawsuit isn’t successful. They will only collect compensation if you’re awarded a settlement or judgment at the end of your case.

Extensive Experience

The 2024 Reuters report we referenced earlier revealed that the total number of lawsuit funding companies in the U.S. is going down, not up. The power players in this industry have started to push out less reliable companies while preventing new companies from entering the market.

Still, some newer lawsuit funding companies don’t have as much experience as those that have been providing lawsuit cash advances for years. Avoid calling on these inexperienced companies for assistance, no matter how aggressively they market themselves. Put your trust in those that are more familiar with the industry and how it works and have a track record to show for it.

Positive Reputation and Reviews

A recent survey found that 97% of American consumers read reviews for products before buying them online. You’re probably already using reviews to decide which products to purchase in other areas of your life, so why not use them when looking for a reliable lawsuit funding company, too?

Make it your mission to locate a lawsuit funding company with a positive reputation and reviews to match. You’ll have more confidence in a company’s ability to set you up with the right lawsuit cash advance when you know they’ve helped many other Americans with securing litigation funding during lawsuits.

Fast Funding Timeline

If you’re looking into applying for a lawsuit cash advance, you might not have much time to wait for one. Medical bills, property damage repair costs, and even everyday expenses are likely breathing down your neck and putting you into a tough financial spot.

For this reason, you need more than just a lawsuit funding company that can deliver a lawsuit cash advance. You also need to enlist the services of one that can provide a quick and painless funding timeline. Ideally, this company should be capable of sending a cash advance in your direction within a matter of days.

This company should also make it simple to apply for a lawsuit cash advance in the first place. This will reduce the stress you’ll feel while attempting to land a lawsuit loan and give you one less thing to worry about during your legal proceedings.

Superior Customer Service

Even when lawsuit funding companies strive to make it easy to apply for cash advances, you might have questions and concerns once you begin doing it. A company should, therefore, have a knowledgeable customer service team that can break down the process further and ensure you don’t run into any unnecessary roadblocks when applying for a lawsuit loan.

Don’t be afraid to put a lawsuit funding company’s customer service department to the test to ensure they’re up for the challenge of catering to your financial needs. It’s better to find out whether or not a company has a spectacular customer service department before applying for a lawsuit cash advance rather than waiting to find out later.

Full Transparency

As we alluded to earlier, reliable lawsuit funding companies will not force you to repay a cash advance if you don’t win a personal injury lawsuit. Instead, this company will collect a percentage of the compensation you receive in your case in the form of either a settlement or judgment.

At the same time, a company will demonstrate full transparency when it comes to letting you know how much of a settlement or judgment they’ll collect once your personal injury case ends. This will prevent any confusion when your personal injury case is over.

See What Sets Rockpoint Legal Funding Apart From Other Lawsuit Funding Companies

Founded nearly a decade ago, Rockpoint Legal Funding has differentiated itself from other lawsuit funding companies by providing all the qualities plaintiffs in personal injury lawsuits seek. If you’re wondering, “Why choose Rockpoint Legal Funding?” let us show you what separates our lawsuit funding company from your other options today. Give us a call to discover more about the pre-settlement and post-settlement funding options that our company can extend to you.