While they are commonly called lawsuit loans, the money that plaintiffs receive in anticipation of their pending settlements are really advances. In fact, they are non-recourse advances. Unlike a loan – that has to be repaid regardless of your ability to repay it – a lawsuit advance is only repaid if and when you win your lawsuit or reach an out-of-court settlement.
There are many benefits to a lawsuit loan over a conventional bank loan.
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Credit Rating: A bank will run a credit report on you, and you will only receive the loan if you have a relatively high credit score. If you’ve fallen behind on your obligations, and your credit is not first rate, you will not qualify for a bank loan.
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Employment: A bank will only make a loan if you can verify employment. If you’ve been out of work – maybe as a result of the accident that precipitated your lawsuit – you will not qualify for a bank loan.
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Monthly Payments: The bank will require you to make monthly payments on that loan.
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Mandatory Repayment: The bank will expect to be repaid – in fact, they will insist on being repaid – regardless of the outcome of your lawsuit and your ability to repay the loan!
A lawsuit loan – or, more accurately, a lawsuit advance – is the virtual opposite of a conventional bank loan.
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No Credit Check: We do not run a credit report on you because a lawsuit loan is granted based on the quality of your lawsuit, not your credit score.
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No Employment Requirement: We do not require proof of employment because you do not repay a lawsuit loan from your regular income, but from the proceeds of your lawsuit. And only if you win your case.
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No Monthly Payments: Instead of paying back the loan over time in monthly payments, you pay back the advance in one lump sum payment when you win your case. And only if you win your case.
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Non-Recourse: You only repay a lawsuit loan if you win your case or reach an out-of-court settlement. If you do not win your case and receive a settlement, you keep the money and you owe us nothing!
There is no cost to apply, and no risk when you apply, for a lawsuit loan. Apply online or call us at 877-253-5538.
Apply Now!
We realize that people apply for lawsuit loans because they need the money! So we’ve expedited the entire process. You apply online or by calling us at 877-253-5538.
