Home How it Works
Lawsuit loans help litigants (especially in injury cases) receive cash during the litigation process. How it works is simple. When you want to take out a lawsuit loan, you contact a lawsuit funding company to apply for a loan. You can request the amount of money you need to cover your bills but the lender will allow you borrow money against the compensation you expect to get from a lawsuit. You pay back the cash loan from the proceeds you eventually receive from a settled lawsuit.
Getting a lawsuit loan from Nirvana Legal Funding is considered risk-free lending for clients who have or intend to file a lawsuit. This form of financing provides litigants with cash fast but without the risk and upfront capital required with a bank loan. Here are a few of the qualities that make borrowing money from an expected lawsuit settlement a popular loan option for clients:
Lawsuit funding companies and banks have different lending requirements. Unlike a personal loan, qualifying for a lawsuit loan from a lender specializing in pre-settlement financing is not determined by the borrower's credit score or financial ability to pay back loan. The qualifications are primarily based on the facts of the case and the lawsuit loan underwriter's estimated value of how much money the client can potentially receive from a settled lawsuit.
The following are the 5 minimum eligibility requirements for applying for lawsuit loan:
The process of receiving a lawsuit loan through Nirvana Legal Funding is easy. Our simple 5-step process is designed to have litigants approved for a loan in 24 hours, sometimes even same day, allowing borrowers to receive the funds they need for paying bills and covering living expenses during the claim process.
Begin the funding process by applying online or calling our legal funding department to request the cash you need to receive to tide you over pending your settlement.
Your attorney's involvement and cooperation is essential in the loan underwriting process. After receiving your request for an advance, a lawsuit funding specialist will immediately contact your lawyer for specific information concerning your pending case. We will ask for information about how the incident occurred, the extent of your physical injuries, the nature of your medical treatment, and confirmation of the amount of insurance coverage the responsible person or business had at the time of the incident.
When the plaintiff’s attorney returns the information we requested about the client’s pending case, a lawsuit funding specialist will immediately review the material and underwrite the claim for a cash advance. Lawsuit loan underwriting is a process in which the lender evaluates the facts and assesses the risks of the borrower’s case to ensure it meets the requirements for approval of a loan. The underwriter will review the documents from your attorney and determine the lawsuit loan approval.
After the lawsuit funding expert has completed the underwriting review, you will receive a call with the lender’s loan decision. This is the time you will be told of the amount of money you can borrow from your lawsuit and the exact terms of the lending. If you choose to move forward in the process, the legal funding agreement is then sent to you and your lawyer by email or fax to review and sign.
The advance lawsuit loan is sent directly to you after the lender receive the signed funding agreement back from you and your attorney. You will have the choice of how the funds should be sent to you. Typically clients can get the money by Western Union, direct deposited into the client’s bank account, or a check is mailed to the borrower by overnight delivery.
Lawsuit funding companies do not dictate how borrowers spend the loan. While many clients use the cash to cover auto loan payments, pay medical bills, and make mortgage payments, you can use the lawsuit funding loan for anything you and your family need to survive the long, drawn out legal proceedings.
Lawsuits don't settle quickly. Many clients have to wait years to recover compensation for the pain and suffering they've endured due to third party negligence or on the job injury. This can be a huge problem for litigants having difficulty finding the cash necessary to pay bills.
Rather than waiting years, consider applying for a lawsuit loan today by contacting Nirvana Legal Funding for a cash advance before your lawsuit is settled. Apply using the request form at the top of this webpage or simply call us to do an application right over the phone by dialing (888) 715-8701.
When injuries from a car accident results in missed time at work, consider applying…
Victims involved in personal injury cases use lawsuit loans to get an advance on their…
A loan on your premises liability case gets you cash while your lawsuit is pending.
Got injured in an accident at work? Get cash before your claim settles.
Truck accidents can cause serious injuries and result in financial devastation.…
If you’ve hired an attorney to file a lawsuit against the manufacturer of a defective…
Lawsuit loan is a term used to describe the process of advancing cash to injured people during their legal case. Lawsuit loans, settlement loans, and accident loans are not actual loans. Rather, these pre-settlement financial products allow plaintiffs to borrow money against a pending lawsuit. Unlike a "loan," there is no credit check, a low usage fee rather than interest rates, charge no fees out of pocket, and no monthly payments. Whether you choose to consider it a “lawsuit loan” or cash advance, just remember that repayment of the funds is coming from the proceeds of your settlement.