Welcome to Lawsuit Loans 101, the educational resource for consumers to learn more about lawsuit loan services. We do not provide any services or referrals for lawsuit loans, our goal is strictly to educate plaintiffs who are considering a loan against their lawsuit. This website was designed to make it easy and simple for anyone to learn everything they would need to know about a lawsuit loan. Itís vital that youíre properly educated on this type of loan and to make sure you know exactly what youíd be getting into. Since we donít provide or refer providers we can give you non-biased, educational information on lawsuit loans.
If youíre ready to start your research into lawsuit loans we recommend that you start reading the below paragraph or use the navigational menu on the right. Youíll find everything you need to know about a lawsuit loan along with some basic information like costs, case requirements, etc. You can also learn more about the benefits of a lawsuit loan or find out what case types are accepted. We have an extensive and easy to use lawsuit loan frequently asked questions archive that can be very useful to people with questions related to this loan product. If there is anything you need to know thats not on our website feel free to contact us.
The Basics of a Lawsuit Loan
A lawsuit loan, also known as a settlement loan or lawsuit advance is a non-recourse loan given to a plaintiff of a pending lawsuit. The amount that a plaintiff can be loaned is based on the probable amount of money that can be awarded if the lawsuit is ruled in favor of the plaintiff; minus attorney fees and lawsuit loan costs and fees. One of the major advantages of this type of loans is the fact that itís a non-recourse loan, meaning if you donít win your case then you donít pay back the loan. There are other benefits of a lawsuit loan that can be favorable to someone waiting on a ruling for their case.
Itís recommended that you learn more about a lawsuit loan before you attempt to obtain one. You should make sure you completely understand the application and approval process and also learn about the costs and fees of a lawsuit loan. Youíll find that many different lenders have different names for this type of loan product such as: pre-settlement funding, lawsuit advance loan, lawsuit cash advance, or lawsuit settlement loan. Regardless what the lender calls their product they all still follow the same process for loans against a lawsuit.
Requirements for a Lawsuit Loan
You can read our requirements for a lawsuit loan web page to learn more in detail about the requirements. Some of the basic things to remember is you donít need to be employed nor does your credit history play any role in the approval process. Being these are non-recourse loans your ability to pay is based almost entirely on the chance of you winning your lawsuit, plus the probable amount of what youíll be awarded.
What you do need to decide is if a lawsuit loan is right for you in the first place. They are a great way for someone to get by financially during a lawsuit, especially considering a lawsuit can take quite awhile to get settled or ruled on. Remember, the amount of interest you pay is compounded monthly. This means youíll pay a good chunk of your monetary award to the lender. This is because a lawsuit settlement loan is a non-recourse loan and you only are entitled to pay it back if you win your case.
About Lawsuit Loans 101
Thank you for visiting our website on lawsuit settlement loans. We hope we are able to educate you on this type of loan and help you make the right choice if itís right for you. Feel free to contact us with any comments, suggestions or ideas you might have for our website. Remember, we do not provide any lawsuit settlement loans, nor do we offer referrals.