Can I Get a Same-Day Settlement Loan?

Settlement Loans as Soon as the Same Day We Receive Your Attorney’s Documents

With our settlement loans, you could get the cash you need rather than waiting for the outcome of your settlement. Once your application is complete and we receive the required case documents from your attorney, you could receive your funds in as little as 24 hours.

Same-day funding is sometimes possible with lawsuit financing, but you’ll need a responsive attorney prepared to send documents as soon as they are requested. If this happens first thing in the morning, there is a chance you could have funds in your account as soon as later the same day.

If you have a settled claim, the path to financing is even smoother, with just the settlement agreement required for the lender to release funds.

What is Pre-Settlement Funding?

Pre-settlement funding takes the form of a cash advance extended in exchange for part of a potential settlement. Assuming you win your case, your attorney will allocate a portion of the settlement to repay the financing.

The non-recourse nature of pre-settlement funding means you’ll only repay the advance if your case resolves successfully. As a result, pre-settlement funding is a cash advance rather than a traditional loan.

By considering this form of funding, you buy yourself some breathing room and reduce stress at a time when medical bills and expenses are mounting.

Beyond this, you will also strengthen your position if an unscrupulous insurance carrier tries to lowball you with an inadequate settlement offer.

Reassert your financial independence and give your lawyer time to negotiate the best possible compensation.

These are some of the most common scenarios where personal injury settlement loans available as soon as the next business day can be beneficial:

• Auto accidents
• Motorcycle accidents
• Pedestrian accidents
• Defective medical devices
• Medical malpractice
• Defective drugs
• Dog bites
• Premises liability
• Product liability
• Wrongful termination
• Workers’ compensation
• Wrongful death

What is the Difference Between Settlement Loans and Traditional Loans?

Pre-settlement funding is a cash advance rather than a loan, but interest accrues just like with a loan. If your case successfully resolves and you receive a settlement, you repay both the principal amount and the interest.

Despite this similarity, settlement loans offer some distinct advantages over traditional loans if you need cash in a hurry.

First, you won’t need to supply any employment information to qualify for a lawsuit loan, and you won’t need to undergo a credit check. Your application for legal funding in as little as the same day is based purely on the strength of your case, as well as the amount of money you need to borrow.

With no credit or collateral examined, it is only the validity of your pending lawsuit that counts.

Pre-settlement funding, then, is a risk-free way to get the financial support you need now by surrendering a portion of your incoming settlement. If the suit fails to settle, you will not have to repay the cash advance.

What Can I Use My Settlement Loan to Cover?

You can use your pre-settlement funding to meet a wide range of financial obligations.

Some people, especially those injured in an accident, find it hard to pay rent or their mortgage while rehabilitating. Lawsuit loans can also come in handy for paying medical bills, legal fees, or even weekly groceries.

The most common applications for lawsuit loans include:

• Eviction prevention
• Foreclosure prevention
• Collections
• Utility shut-offs
• Vehicle repossessions

What Happens if I Lose My Lawsuit?

The risk-free and non-recourse nature of pre-settlement funding means you repay nothing unless you win your case. All the risk is shouldered by the lender, which is reflected in the amount you can borrow. The stronger the case and the larger the expected settlement, the higher the cash advance you should qualify for.

How Can I Qualify for Pre-Settlement Funding?

Fortunately, the application process for pre-settlement funding is typically straightforward.

You will complete a short application, submitting the following:

• Name
• Phone number
• Email address
• Case type
• State
• Contact details for your attorney

To qualify for pre-settlement funding, you need an active lawsuit as well as legal representation.

The funding company will then discuss the merits of your case with your lawyer to establish whether funding is right for you. If so, the lender will examine the strength of your case and the amount of the potential settlement.

Funding timelines depend on when we receive the required case documents from your attorney. The clock starts once your application is complete. Assuming your settlement loan is approved, you can expect the cash advance to be sent to your bank account in as little as 24 hours. You can also choose an alternative method of payment, such as an overnight check or a Western Union transfer, if you don’t have a bank account.

How to Get Your Settlement Loan as Soon as the Same Day We Receive Your Complete File

The total amount of work required of a lawsuit lending company should be about one business hour per funding request. However, only a handful of claims are approved that quickly. What slows the process down is the back-and-forth between a lawsuit loan company and your lawyer.

To get funds as soon as the same day, your lawyer will need to respond promptly, sharing all files in a timely fashion. Missing documents or information will lead to slight delays in the funding process and make it tougher to get an advance approved as soon as the same day.

Once you complete your online application, let your attorney know that you have applied with Uplift Legal Funding. Give them any authorization they need (usually just a verbal go-ahead) to release your documents and information. If you are in a rush and want funding as soon as possible, let your lawyer know the urgency of your request.

[LEARN MORE]: Can the IRS take my personal injury settlement?