California Settlement Loans and Pre-Settlement Funding

Injuries from your accident might impact your ability to work. Unfortunately, you may not be compensated for lost wages until you receive your settlement. In addition to medical expenses and pain and suffering, lost earnings are one of the major portions of your settlement. However, lawsuits can take time to settle. This can leave you without money for living expenses in the interim.

If you are struggling to make ends meet and are in the midst of a personal injury lawsuit, then you may be eligible for pre-settlement funding in California to help bridge the gap between now and your settlement. Pre-settlement funding is not like a personal loan; it does not require a credit check and is not a loan.

If your case is already settled, there is less risk and Uplift Legal Funding can offer even more competitive rates. Even once your case has settled, it can take weeks or even months to receive your money. Uplift Legal Funding can help you get cash upfront before you receive your settlement check.

So how does it work? Simply fill out our application here, and Uplift Legal Funding will speak to your lawyer to gather the particulars of your case. Once we have spoken to your lawyer, we will offer you between $500 to $250,000.

Payment can often be disbursed within 24 hours of your application approval and is available in various formats, including Western Union, Money Gram, direct deposit, and more. If you have a lawyer and a lawsuit, you can receive pre-settlement funding in California.

Quick Reference California Pre-Settlement Funding Facts

Average California Funding$12,609 per claim
California Funding Range$500 – $250,000+ per claim
Turnaround TimeSame-day turnaround possible up to $100,000
California Fault LawsPure comparative fault. Plaintiff negligence will offset the defendant’s liability.
Statute of Limitations2 years for injuries, 3 years for property damages, 4 years for a written contract, and 2 years for an oral contract.
Min. policy limits$15,000 bodily injury liability per person
$30,000 bodily injury liability per accident
$5,000 property damage liability per accident

Am I Eligible for a Settlement Loan in California?

California allows pre-settlement loans and does not regulate the lawsuit loan industry, which means you should have no problems finding a loan. However, you should be aware that the lack of regulation means that you may run across some unscrupulous lenders. It is always better to choose a settlement loan company with a long reputation of being trustworthy such as Uplift Legal Funding.

Once you find a lending company, there are only two requirements that determine eligibility for pre-settlement loans in California: a current lawsuit and a lawyer on retainer. If you have both of these, then you can apply and be approved for a settlement loan.

Can I Get Pre-Settlement Funding in California with Bad Credit?

Yes. Credit is not a factor when we make our decision about pre-settlement funding. Uplift Legal Funding is only concerned about the merits of your lawsuit and that you have a lawyer representing you. If you can check those two boxes, then you can receive settlement loans.

Settlement loans are not like traditional loans since the lender is not assessing their risk based on your financial habits. Instead, Uplift Legal Funding assesses the merit of your lawsuit to determine the level of risk associated with it and then grants approval if applicable.

Therefore, you can have good credit, bad credit, poor credit, or excellent credit and still receive pre-settlement funding.

Can I Really Get Funds in 24 Hours or Less?

In many cases, it is possible to receive settlement loans within 24 hours. The participation of your lawyer will play a significant role in your turnaround rate, so it is wise to let your lawyer know to expect a phone call from Uplift Legal Funding to help speed along the process.

The actual process is simple, which is why we often can offer our clients settlement loans within 24 hours of your original application. Once you fill out a simple application, we contact your lawyer to get details about your case.

As soon as your lawyer returns the information, we can send it along to our underwriters, who make their decision within one business day in most cases. This allows us to dispense funds to you immediately.

To ensure that you have access to pre-settlement funding as quickly as possible, Uplift Legal Funding offers various forms of payment, including but not limited to MoneyGram, direct deposit, Western Union, and FedEx overnight checks.

What Does a California Settlement Loan Cost?

One of the most appealing aspects of pre-settlement funding is that you do not have to pay anything out of pocket for your loan until your settlement is approved. If you do not win your case, then you will not owe a penny.

However, while they are low-risk loans, they do carry a cost that you should consider. Most pre-settlement loans are assigned a basic interest rate that you will owe when the loan comes due following the settlement of your lawsuit.

Ideally, you want to choose a lending partner like Uplift Legal Funding that offers a simple rate which means you only get charged interest once. Other companies charge compounding interest rates which means you will end up paying interest on interest. The costs of this type of settlement loan can add up quickly, even more so if it takes years to settle your lawsuit.

While many companies charge the same rate whether your case is settled or still pre-settlement, Uplift Legal Funding offers preferential pricing for settled lawsuits.

Therefore, you need to carefully read any contract before signing. Make sure you completely understand the cost of your advance including all fees and interest. The last thing you want to do is pay a pre-settlement funding company significantly more than you anticipated.

At Uplift Legal Funding, we always advise our clients only to take what they need. While you may be approved for a more significant amount, it is prudent to accept only what you need for basic living expenses. Technically you can use your settlement loan monies for anything you want, but the wiser move is to wait and keep your eye on the prize.

What Part Does My California Lawyer Play in the Pre-Settlement Loan Process?

Your California lawyer plays a large role in the pre-settlement loan process. First of all, one of the main eligibility factors of pre-settlement funding is that you have a lawyer. Second, they become the main point of contact for Uplift.

While you are responsible for initially applying for the pre-settlement funding, after you do, Uplift will consult with your lawyer for the particulars of your case. We decide what amount of pre-settlement funding you will receive based on the merits of your case. Therefore, it is in your best interest for your lawyer to give us comprehensive information.

Some of the information that we need from your lawyer includes expected damages, liability, and the insurance company that is being sued. For smaller loans or new cases, Uplift will likely only need to know the basics. However, for larger loans, we will need detailed documentation and a phone interview.

We are not able to review your case until we receive all requested documentation from your lawyer. Therefore, your lawyer must reach out to us as soon as possible.

Finally, your attorney acts as the signer on the pre-settlement funding contractor and is responsible for paying us with the proceeds of the settlement.

Why Choose Uplift Legal Funding in California?

If you need a settlement loan, Uplift Legal Funding can offer you quick access to the monetary funds you are entitled to receive. It is a shame that our legal system is set up to delay and negate the plaintiff’s needs, but we can help bridge the gap to help lessen our financial suffering.

We offer simple, low rates to all of our clients along with a speedy turnaround rate. If you let your lawyer know that you are contacting us for a pre-settlement loan, there is a good chance your pre-settlement funding will be available within 24 hours of your application.

Uplift Legal Funding has an A+ rating from the BBB and a host of 5-star Google reviews because our transparent funding process is streamlined to help people through the worst moments of their life. We don’t just offer a lifeline; we provide it with warm enthusiasm, a gentle embrace, and goodwill.

There are a lot of pre-settlement funding companies out there, but Uplift Legal Funding stands out because of its friendly staff and continual ability to deliver on every promise.

If you need a settlement loan in California, call Uplift Legal Funding today at (800) 385-3660.

Managing Member at Uplift Legal Funding
Jared Stern is an experienced financial professional with six years of experience in the pre-settlement funding industry. After graduating from UC Berkeley with a degree in economics in 2014, Jared began his career in Morgan Stanley's mergers and acquisitions investment banking division. After working with another pre-settlement funding company for two years, Jared founded Uplift Legal Funding in 2017 to give injured plaintiffs a better choice in lawsuit loans. Check Jared out on: LinkedIn | Legal Reader | Attorney At Law Magazine
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