Fast Pre-Settlement Funding: Get Financial Relief While You Wait for Your Settlement

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. 

If you are currently navigating a civil lawsuit, you may have a sizable settlement coming. However, the court system moves slowly, and you will likely have to wait months or even over a year to see that settlement award in your bank account. How do you cover past and ongoing expenses related to your incident?

Working with a pre-settlement funding company could let you take out a cash advance on your eventual settlement without posing any risks to you. Learn more about this opportunity to enjoy financial relief while awaiting your settlement to determine whether it might be a suitable option for you to consider.

What Is Pre-Settlement Funding?

Pre-settlement funding is a form of cash advance available to plaintiffs in civil lawsuits and their attorneys. This advance comes out of your eventual settlement or financial award. You can use pre-settlement funds for any purpose you see fit as you await your actual settlement award.

Pre-settlement funding is different from a lawsuit loan. Typically, you would repay a lawsuit loan in installments with interest. But with pre-settlement funding, you won’t need to repay anything until or unless you win your case. This is a form of non-recourse funding, which means the funding company won’t seize any of your personal assets to repay the loan.

How Does Pre-Settlement Funding Work?

When you apply for pre-settlement funding, the funding company evaluates your legal case strength to determine the likelihood that you will eventually reach a settlement or win a financial award. If you have a strong case, the funding team will feel confident providing you an advance on a portion of your settlement.

If your case eventually settles, you will repay the pre-settlement funding out of your advance, plus fees. But if you end up losing your case, you won’t owe the funding company a penny.

Pre-settlement funding companies assume the risk of loaning money to plaintiffs. Meanwhile, accepting this form of funding can help mitigate some of your risk while waiting for your case outcomes. If approved, you’ll gain a portion of the funding regardless of whether you win or lose your case.

Because this cash advance comes directly from your settlement, you won’t need to pay a penny out of pocket to accept pre-settlement funding.

How Quickly Can You Secure Pre-Settlement Funding?

Pre-settlement funding offers fast financial relief for plaintiffs and attorneys. Funding companies understand that plaintiffs need financial assistance quickly, which is why they use an efficient application and approval process.

Depending on the details of your case, you may gain approval for pre-settlement funding within less than a week. Once approved, you may see the funds in your account in as little as 24 hours.

The speed of your approval depends on the funding company’s confidence in your case outcomes. You must submit evidence and court documents as part of your application.

What Can You Use Pre-Settlement Funding For?

Pre-settlement funding companies place no restrictions on how you can use this cash advance. Once you secure the money in your bank account, you can use it however you want to.

Many plaintiffs use their lawsuit cash advances for:

• Legal costs: Use this advance to help cover court costs, attorney’s fees, and other legal expenses without needing to pay out of pocket.
• Medical expenses coverage: Begin paying medical bills now with pre-settlement funding and avoid letting them go to collections.
• Everyday expenses: Daily expenses like rent, groceries, utilities, and bills continue to add up during your lawsuit. Use pre-settlement funding to cover these costs.
• Time off work: Pre-settlement funding can give you breathing room to take time off work during your settlement negotiations or lawsuit.

How Pre-Settlement Funding Provides Financial Relief to Plaintiffs

Amid a long, arduous court process, expenses quickly pile up. Not only do you face the rising costs associated with your injury, but you must also pay court fees and miss work as part of your lawsuit, further draining your savings.

Pre-settlement funding offers financial relief through the following benefits:

• Gives you fast access to cash: If approved for pre-settlement funding, you’ll see the funds in your account within just a few days.
• Helps you avoid penalties on bills: Gaining access to cash up front allows you to pay bills for everyday expenses and medical costs without incurring additional interest or fees, saving you money in the long run.
• Gives you the resources to avoid settling for less than your case is worth: If your case is dragging on and you need access to money now, you may be tempted to accept a settlement offer that doesn’t cover all of your needs. Pre-settlement funding gives you more breathing room to make an informed and intentional decision about your settlement.
• Costs less than traditional loans: Instead of relying on a personal loan that comes with steep interest and depends on your credit score, you can apply for interest-free pre-settlement funding that depends on your case strength, not your financial history.

Applying for pre-settlement funding poses no risk to you. It’s worth a try to see whether you may qualify.

Apply for Pre-Settlement Funding Today With Rockpoint Legal Funding

Whether you need a pre-settlement for legal needs, like court costs and attorney fees, or to help pay for medical expenses, Rockpoint Legal Funding offers fast and reputable solutions. Apply for pre-settlement funding today by submitting your case for review. We will reach out to you shortly with further information.