Same-Day Pre-Settlement Loans: Instant Cash for Plaintiffs Facing Immediate Financial Needs

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. 

Your lawsuit should wrap up “any day now,” your lawyer says. But it’s been months, and that settlement check is still nowhere in sight. You’re running out of money and starting to think that maybe you should accept the insurance company’s low settlement offer instead of continuing to fight.

Thanks to same-day pre-settlement loans, you don’t have to settle for less than your case is worth. Learn how pre-settlement funding works and how you can use the money below.

How Does Pre-Settlement Funding Work?

First, despite the name, pre-settlement loans aren’t loans in the traditional sense. A pre-settlement loan is more akin to an immediate cash advance. When working with a lender like Rockpoint Legal Funding, you’re essentially borrowing against the expected settlement amount.

Unlike a bank loan, you don’t have to make monthly payments on pre-settlement funding. Instead, you only pay the money back when (and if) you win your case. Don’t win? You owe nothing.

Pre-settlement funding differs from bank loans in other ways, too:

• Pre-settlement funding doesn’t come with high interest rates that can add thousands to the amount you owe when it’s time for repayment.
• Out of work because of your accident? Securing a bank loan can be next to impossible without any income. Because our funding is based on your expected settlement, you don’t need to show proof of income or provide collateral.
• If your credit score is poor, you’ll have a lot of trouble finding a lender willing to work with you. With pre-settlement funding, your credit score is a non-issue. We never check your credit, so applying for funding with us won’t hurt your rating.

Non-Recourse Funding: A Lifeline When You Need Money Now

What can you use same-day pre-settlement loans for? Pretty much anything! The money is yours, so we don’t stipulate how you use it. Here’s how some of our clients have used their pre-settlement funding:

• Paying off outstanding medical bills: You expected your platinum-tier insurance plan to cover all of your accident-related expenses, but you ended up with a surprise hospital bill in the mail. Not even the fanciest insurance plan covers everything, which is where pre-settlement funding comes in.
• Paying off credit card bills: When you can’t work because of an accident, it doesn’t take long to drain your savings and start maxing out your credit cards. But what if you can’t make the minimum payments? Pre-settlement funding lets you pay down those credit cards so you’re not stuck with costly fees and interest.
• Covering mortgage payments and rent: Few things are more stressful than knowing rent is due soon, and you don’t have the money for it. Thanks to pre-settlement funding, you won’t have to stress about keeping a roof over your head before your case settles.
• Buying necessities: Whether groceries are running low or your kids need new clothes for school, pre-settlement funding helps you afford life’s necessities.
• Repairing your car: Can’t make it to doctor’s appointments because your car is in the shop after an accident? Pre-settlement funding gives you cash to repair or replace your vehicle.

What Types of Cases Qualify for Pre-Settlement Loans?

If you have a personal injury claim, chances are high that your case qualifies for pre-settlement funding. Here’s a sampling of cases that qualify.

• Vehicle accidents: Car, truck, and motorcycle accidents can be devastating. If your accident was serious, you may have spent weeks in the hospital, and now you can’t work. Pre-settlement loans tide you over while your lawyer fights for a suitable settlement.
• Premises liability: Did you fall in a store or slip on an icy sidewalk? Plaintiffs in premises liability cases often win generous settlements, but it could be months before you see the money. Count on pre-settlement funding to tide you over until then.
• Defective products and drugs: Settlement for defective products may settle for over six figures. Gain access to that cash now instead of waiting for your case to finish.

Other cases that may qualify include:

• Dog bites
• Nursing home neglect
• Pedestrian accidents
• Medical malpractice

What To Expect When You Apply for Financial Relief

At Rockpoint Legal Funding, we make the pre-settlement funding process fast, easy, and stress-free. First, you must determine whether you qualify (you don’t need much to meet our basic requirements). We make same-day pre-settlement loans available to anyone over 18 with attorney involvement, a pending settlement, and a qualifying case type.

Before you apply, you’ll need to gather a few documents, including your lawyer’s retainer agreement and supporting evidence that helps your case, such as copies of medical bills and witness statements. Your lawyer will help you gather these documents if you don’t have them handy.

Next, fill out our quick online application form and wait for our team to review it. If everything looks good, we’ll work with your attorney to determine a suitable funding amount. You could have cash in hand in just 24 hours or less.

Once your case settles, your lawyer will pay us back the amount you’ve borrowed out of your settlement. If you don’t win your case, you don’t have to pay back anything because we take on the risk of funding you.

Focus on Your Recovery, Not Your Bank Account

At Rockpoint Legal Funding, we believe you shouldn’t have to worry about money when trying to recover after your accident. To learn more about our same-day pre-settlement loans or apply for legal funding, call us at (855) 582-9200.