Can You Borrow Against a Lawsuit?

If you’ve filed a legal claim to receive compensation for damages suffered as a result of the negligence of another party, it will likely take some time for your case to reach resolution. Court processes, including investigations, compiling evidence, and obtaining expert or eyewitness testimony, can take months and even many years.

Are Bills Mounting Up?

In the meantime, you and your loved ones may have mounting bills. Perhaps you suffered an accident, illness, or injuries that have caused you to need significant medical care. Medical bills could be arriving daily.

An accident, illness, or injury caused by another party could also have left you unable to work, either completely or partially. You may be unable to work at former occupations, but looking for work in another area. If that’s the case, you may not have any income yet, or may have a reduced income.

In that case, you aren’t just waiting for medical bills or lost wages to be paid, but you may have trouble paying your rent or mortgage, buying food, or paying utility bills.

You really can’t wait for the court case to be resolved and the settlement check to be issued to pay your bills. Can you borrow against a lawsuit?

The answer, fortunately, is yes. 

Obtaining a Legal Loan

What you want is termed a legal loan. A legal loan, or legal funding, provides money to you to support yourself and your family while your case moves through the courts.

Legal loans are nonrecourse. In other words, they resemble cash advances more than bank or credit union loans.

If you win your legal case, the legal loan has to be paid back, at a reasonable interest rate.

But if your case goes in favor of the defendant, you won’t owe any repayment on your legal loan. Nothing.

Funds obtained via a legal loan can be used for any financial necessity. You can pay for groceries, mortgage/rent, utilities, medical bills, and ongoing health insurance.

This can lift a big burden from you and your family. You can see your way clear to managing your financial life during the court case.

But that’s not the only reason lawsuit funding can be a good idea for plaintiffs. It’s not uncommon for injured parties to feel pressure to settle relatively quickly, especially if they need the money as soon as possible.

But sometimes, you’re in a better negotiating position if you don’t need the money right away. You don’t have to take the first offer. Second or third offers can be higher.

Applying for a legal loan is easy and convenient. There is no required credit check and no hidden costs. You can obtain a legal loan within 24 hours.

Again, legal loans are a type of cash advance on future legal settlements. They are a bridge to a future settlement. Our legal funding has the lowest interest rates available.

Lawstreet Capital is here to offer legal loans to help tide you over until the court case resolves. Call us today to learn more. You could have your cash advance in as little as 24 hours!