Pre-Settlement Loans: How To Secure Money Before Your Case Settles and Avoid Financial Strain

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.

Pursuing legal action after a personal injury allows you to secure compensation. But the legal process can be time-consuming, arduous, and expensive. While you may have money coming your way, it might not arrive in your bank account for months or even years.

Pre-settlement loans offer financial relief while you await your settlement. But how do these loans work, and what is the application process like?

What Is Pre-Settlement Funding?

Pre-settlement funding is available to plaintiffs in civil lawsuits and their attorneys. It offers a loan or cash advance on a plaintiff’s eventual settlement award.

With pre-settlement funding, you can access a portion of your settlement now rather than having to wait months or years for your case to settle. If and when you receive a settlement, you can repay the loan out of that money.

Many types of pre-settlement loans are non-recourse funding. This means that if you happen to lose your legal case, you won’t owe a dime back to the lending company. The lender assumes the risk for your case — not you.

Who Qualifies for Pre-Settlement Loans?

Your eligibility for pre-settlement loans may vary depending on the type of funding you are applying for and the company you are working with. Rockpoint Legal Funding uses a straightforward qualification process to determine eligible applicants.

Plaintiffs and attorneys in civil lawsuits can both qualify for pre-settlement loans from Rockpoint Legal Funding. As a plaintiff, you will need to meet the following criteria:

• Have a qualifying case type: Pre-settlement funding is available to plaintiffs in many types of personal injury cases, such as car accidents, slip and falls, medical malpractice, wrongful death, nursing home negligence, and dog attacks
• Have a strong legal case: Your eligibility depends mainly on the strength of your legal case. If your odds of winning your case are high, you will likely qualify for pre-settlement funding.
• Work with an attorney: You must have retained an attorney to qualify for pre-settlement funding. Working with an attorney increases your chances of winning your case and gives the lender confidence in your case outcomes.

Rockpoint Legal Funding does not require you to meet any financial qualifications. You do not need a specific income or a good credit history to be eligible, as you will repay your advance out of your eventual settlement.

How To Secure Pre-Settlement Funding

If you meet the plaintiff eligibility criteria, qualifying for pre-settlement loans is as easy as filling out an online application. You can apply for funding through Rockpoint Legal Funding by following these steps:

1. Fill Out Your Application

Rockpoint Legal Funding offers a completely online application. Apply through our website and provide the requested information. You will need to have these details handy:

• Your contact information
• Basic information about your case
• The amount of funding you are requesting
• Your attorney’s contact information

If you feel more comfortable speaking with a representative, you can apply over the phone by calling (855) 626-3214.

2. Let Us Evaluate Your Case

After you submit your application, our representatives will review your case to determine your eligibility for funding. We will evaluate the evidence and speak with your attorney to determine the strength of your case.

If we need any additional information, we will reach out to you or your attorney.

3. If Eligible, We Send You Our Agreement

If we determine that you are eligible for our pre-settlement loans, we will send you an offer for a cash advance and lay out the terms and conditions of the loan. After you receive your settlement, you will know exactly how much you will owe us. We also make it clear that you do not need to repay your cash advance if you lose your case.

4. We Send Your Funding to Your Bank Account

If you accept our funding offer, we can send your settlement advance directly to your bank account within one or two business days. You can use this money however you see fit, such as for:

• Medical costs
• Legal fees
• Living expenses

5. You Repay Your Advance Out of Your Settlement

You won’t need to worry about repaying your legal case advance until the end of your case. If your case settles, your attorney can repay the advance directly from those funds before sending the remainder to you. If you happen to walk away from your case without a compensation award, you won’t owe us anything.

Pre-Settlement Funding Can Reduce Your Financial Strain

Expenses pile up quickly during personal injury cases. You’re likely facing expensive medical treatments, taking time off work, encountering legal fees and court costs, and falling behind on regular bills and living expenses.

With a pre-settlement cash advance, you regain control over your financial situation. You can use your advance to pay for any pressing expenses, avoiding interest and late fees. With a cash advance from Rockpoint Legal Funding, you won’t face high interest rates — we simply charge a flat fee for our pre-settlement loans.

Apply for Pre-Settlement Funding Today

Avoid stressing over finances and focus on recovering from your injuries and navigating your legal case. At Rockpoint Legal Funding, we make securing legal funding simple with a quick application and fast turnaround time. Many of our clients receive their funding within a matter of days.

Contact Rockpoint Legal Funding today at (855) 626-3214 or fill out our online form to submit your case for review. We will reach out to you shortly!