Louisiana Lawsuit Loans

Louisiana Lawsuit Loans Overview

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Am I eligible for a personal injury loan in Louisiana?

To determine if you’re eligible for pre-settlement loans in Louisiana, you need approval from your lawyer. They will help you determine the appropriate amount to borrow. If your legal team feels you are applying for too much, they may suggest a smaller amount. This ensures that you won’t have trouble paying the loan back after the settlement.

To apply for a pre-settlement loan from Uplift, you need to provide your name, phone number, email address, and proof of your personal injury lawsuit. Proof of the lawsuit typically means providing a copy of the lawsuit your lawyer filed. We may ask for additional information, depending on your case and the dollar amount of the loan you request.

I have bad credit. Am I still eligible for a lawsuit settlement loan?

Yes! In Louisiana, receiving a lawsuit cash advance is not contingent on your credit score. This means that there is no credit check involved, as the borrowed funds are repaid directly from the settlement award. Unlike traditional loans with structured repayment plans, lenders such as Uplift consider the quality of your case to determine the amount we can loan you.

The quality of your case depends on a few things:

• The clarity of your case. Is it easy to see who is at fault for the accident? Or is your case more complicated with regard to determining fault?
• What stage is your case in? How long has the case been in the court system? Is the case is close to settlement, or if it’s a newly filed case? All of these factors affect the amount Uplift Legal Funding can advance. We do offer both pre-settlement and post-settlement loans.
• How quickly has your attorney given us the information we need/ There are several factors to determining your eligibility, and we request that your attorney provide us with this information. Until we receive it, we cannot process your application

Do I need a lawyer to get a lawsuit cash advance in Louisiana?

Yes. In Louisiana, you need a lawyer for your case in order to be considered for a lawsuit loan. Many personal injury lawyers are paid on a contingency basis. Contingency fees mean they receive payment if they win your case and won’t bill you if they lose. Your lawyer is the one ultimately responsible for paying back the lawsuit lending company, using money from the settlement award.

According to the Louisiana Rules of Professional Conduct 1.8(e), a lawyer in Louisiana may provide security (guarantee) on a client loan as long as the interest rate charged on the loan doesn’t exceed 1% above the current prime rate.

How can I use lawsuit loans in Louisiana?

Pre-settlement loans help plaintiffs pay for living expenses before their case settles. This can be especially helpful if your injuries make it difficult for you to perform your job. If your income changes as a result of the accident, lawsuit loans can help make up the difference.

These loans can also be used to cover medical bills until the settlement arrives and to pay for ongoing treatment and aftercare, such as chiropractor appointments or physical therapy. However, lawsuit loans may not be used to cover attorney fees. Fortunately, nearly all personal injury lawyers work on a contingency basis, meaning that they collect their fees only after a successful settlement.

Generally, lawsuit loans are used for:

• Rent or mortgage payments
• Car payments or car insurance
• Utilities, including electrical, water, internet, and trash or snow removal services
• Groceries and household needs
• Medical bills and copays and coinsurance coverage

Can a lawsuit loan make my case stronger?

Applying for a pre-settlement loan will not make your case look stronger before a judge or jury. However, when your lawyer works with a lawsuit loan company like Uplift Legal Funding, the loan you receive may put you in a more secure position to see the case through to the just conclusion.

Many times, people who are injured in an accident are left in a financial pickle. They may be out of work due to injuries or have a car that’s either totaled or needs extensive and expensive repairs. When the plaintiff receives a pre-settlement loan, however, their living expenses are covered, and they may even be able to repair or replace their car, allowing them to continue working. Quick settlements are often pushed by the insurance companies so they have to pay less money. These fast settlements are frequently accepted by plaintiffs facing financial hardship.

The proper pursuit of a personal injury case takes time. Those injured in the case may need ongoing medical treatment afterward, including physical and occupational therapy. The costs for this care should be the responsibility of the party at fault. Therefore, the lawyers for the injured parties often wait until the treatments are completed to draw up the demand for compensation.

Once the demand is sent, the insurance company for the other party may take time to respond. In the response, the insurance company may suggest a different (usually lower) figure. These negotiations between your lawyer and theirs take even more time. If the case isn’t settled out of court, the trial itself can delay resolution even more.

Therefore, pre-settlement loans are often the best recourse for the plaintiff to ensure that they receive the full compensation they deserve. The loan amount takes much of the financial burden off a plaintiff waiting for the conclusion of their case.

How much money do I qualify for?

Every case is different, and therefore the amount of lawsuit pre-funding loans differ, too. The dollar amount is typically based on the value of your case and is a percentage of the case’s settlement value. The loan amount is based on whether or not your claim has been decided. For example, you may have won your case but are waiting for the settlement check to arrive. You can apply for a lawsuit loan in these cases, too.

Most legal funding companies loan up to 25% of your portion of the projected settlement award for pre-settlement cases and up to 50% of your portion of the post-settlement judgment. The loan is based on the net value after attorney’s fees, liens, or other fees paid from the settlement monies.

When applying for a lawsuit loan, it’s important to focus on how much you actually need so that your loan amount is easily repayable.

What kind of cases qualify for lawsuit pre-funding loans in Louisiana?

Lawsuit pre-funding cases are limited to civil matters. However, just about any type of personal injury case is covered, including negligence claims against insurance companies or other professionals. As a professional lawsuit lending company, Uplift Legal Funding offers loans for many different types of cases. You can explore our services here, and if you don’t see your type of case, please get in touch with one of our friendly client care specialists.

Lawsuit loans can help plaintiffs involved in:

• Car accident lawsuits
• Accidents with a commercial truck
• Bus accidents
• Bike and motorcycle accidents
• Slip and fall accidents
• Dog bites lawsuits
• Medical malpractice claims
• Negligence cases against an insurance company

At Uplift Legal Funding, we specialize in car accident loans and other personal injury loans. These are the most common types of civil cases in Louisiana, and we’re experts in helping people just like you get the funding they need while they await the conclusion of their lawsuit.

Louisiana pre-settlement funding, and how Uplift can help you

Uplift offers pre-settlement funding for most personal injury cases in Louisiana. Pre-settlement funding is a cash advance given to accident victims so they don’t have to worry about finances while they fight for a fair settlement. Lawsuit funding can be difficult to understand if you’re not a lawyer or in the industry. Uplift wants to help, so we made a helpful guide to help you choose a lawsuit settlement loan company. From the beginning of the application until you get funded Uplift is here to help you get your lawsuit loan.

Below you will find some FAQs that may help you understand legal funding in Louisiana better. If you’re interested now, you can always call us at (800) 385-3660 or apply online today.

As the victim, what should you do to ensure you get your Louisiana lawsuit loan?

As the accident victim, there are a few things you should do to ensure you get your funding. Uplift has made a helpful tip guide so you know what steps to take.

Once you have a general idea of what you should do, you just have three simple steps that stand between you and your legal funding.

1. Quality of your case (is it easy to see who is liable?)
2. Stage of your case (how long have you been on this case?)
3. Cooperation with your attorney (has quickly had your attorney given us information?)

After you have completed the application, our personal injury case managers will give you and your attorney to start the funding process. If you are more interested in how it works, you can visit this page for more information.

Skip the loan store in Louisiana

When you’ve been injured you may be in desperate need of cash. Many injured individuals find themselves unable to work due to their injuries. Legal fees, living expenses and potentially medical bills all pile up. However, taking out a risky loan is not the best course of action. Most loan stores offer big loans but they also offer extremely high rates and surprise charges.

Avoid these risky contracts by getting funding from a lawsuit loan company such as Uplift Legal Funding. We can offer you as much as $250,000 and as low as $500 in legal funding. For clients who are in need or who have very high case value, we can go even higher. We offer whatever lawsuit loans fit the needs of our clients.

We also advise our clients to take what they absolutely need because lawsuit loans are expensive! Unlike a loan company which might encourage you to take out larger loans so rates will be higher. Uplift offers non-compounding rates. This means we charge rates based on the original fund amount. This is different from most loan companies that offer compounding rates, which means rates are charged on accumulated rates. Uplift does not do that because we want to ensure you have the lowest rates possible, so you can keep a larger portion of your settlement.

Louisiana Lawsuit Funding Cheat Sheet

The statute of limitations for personal injury cases in Louisiana is 1 year. This means you have to file your claim within one year of it happening. Uplift is here to provide settlement funding so that you can file your claim within this limit.

Each state has a different guideline for understanding who is at fault and therefore who pays what. Louisiana uses a pure comparative fault statute. Basically, this means, how much you get paid in damages is offset by how much you were at fault. Often, for legal funding requests early-on in a case, companies providing lawsuit settlement loans in Louisiana must assume state minimum policy limits of:

• $15,000 bodily injury liability per person
• $30,000 bodily injury liability per accident
• $25,000 property damage liability per accident
• $15,000 uninsured motorist coverage per person
• $30,000 uninsured motorist coverage per accident
• $1,000 medical payments coverage

Regulation of Lawsuit Loans in Louisiana

Because settlement funding regulation is complex, Uplift developed a funding-ease scale. On a scale of 0 to 10, Louisiana scores a 10.0. This means that it is easy for plaintiffs to get lawsuit loans in Louisiana. There is not any regulation for funding companies in this state.

Despite lack of regulation, reputable companies, such as Uplift follow basic best-practice disclosure guidelines for pre-settlement funding contracts. We display rates, fees, and repayment terms prominently on the front pages of the contract.

Personal injury lawyers in Louisiana

Before Uplift can provide you with pre-settlement funding, you have to have a lawyer.

If you are having difficulty locating a lawyer Uplift has listed just a few below.

Each one of the following firms has a high rating and good reviews online:

Dudley DeBosier Injury Lawyers
Address: 1075 Government St, Baton Rouge, LA 70802
Phone: (225) 379-3333
Specialties: Workers compensation, Boat accidents, Social Security disability, Dog bites

Morris Bart, LLC
Address: 601 Poydras St floor 24, New Orleans, LA 70130
Phone: (504) 613-4771
Specialties: Motorcycle accidents, auto accidents, Truck accidents, Slip and Fall

Gordon McKernan Injury Attorneys
Address: 920 Pierremont Rd Suite 220, Shreveport, LA 71106
Phone: (318) 888-8888
Specialties: Defective product, Offshore Accidents, Wrongful death, Explosions, and fires

Broussard & David
Address: 557 Jefferson St, Lafayette, LA 70501
Phone: (337) 233-2323
Specialties: Mass tort litigation, Premises liability, Aviation accidents, Train accidents

Louisiana Personal Injury Statistics

With a population of 4,645,184, Louisiana is the 25th largest state in the United States, and ranks 15th for per capita fatal injuries (New York & D.C. included)! New Orleans alone has a population of 391,006.

Louisiana has one of the highest wrongful death rates in America! There are many factors that contribute to the wrongful death rate in Louisiana, car accidents being one of them.

Residents drive an estimated total of 48 billion miles yearly, which you drive an average of 7.1% higher than your fellow Americans.

It’s not only being on the road more that causes more fatal car accidents in Louisiana. Drinking and driving as well as seat belt usage also play a role in the high fatal car accident rate.

People in Louisiana don’t do too well when it comes to buckling up. Residents wear a seat belt with about a “C” letter grade. To compare, the national average for seat belt usage is a high “A”. In 2017, nearly 15,000 lives were saved in car accidents because of seat belts.

Drinking and driving averages are also high. Residents drink and drive 35.3% more than the national average.

The fatal car accident rate in Louisiana is nearly 6% higher than the national average. Don’t let a car accident completely wreck your life. Get the funding you need so you can battle your case and not worry about finances. Pre-settlement funding is made to give you that relief.

Are there alternatives to settlement loans in Louisiana?

Presettlement funding isn’t the only option that Louisiana personal injury plaintiffs have for financial assistance. Many times, plaintiffs may be out of work because of the accident, and unable to pay their bills.

Louisiana administers several financial support programs for people unable to pay their bills due to injuries from an accident. These programs are free for those who qualify. You may be eligible for one or more of these programs. Lawsuit loans can help reduce the amount of money you need to borrow to cover your bills, medical expenses, and housing. If you’re eligible for one or more of these programs, then you may have to borrow less money from a legal funding company.

Here are some local resources:

• Utility assistance from LIHEAP, a state-sponsored program to help low-income residents pay their bills. In order to qualify, your household income must be 60% below the state median level
• Affordable housing assistance from the Louisiana Balance of State Continuum of Care (BOSCOC). Representatives help individuals and families find low-cost housing in your area
• Regional food banks: Northwest Louisiana Food Banks, Northeast Louisiana Food Banks, South Louisiana Food Banks, and Central Louisiana Food Banks . These websites help you find food banks in your area.

Benefits of legal funding with Uplift

Once your case has been taken into consideration, you may be wondering what Uplift has to offer that other lawsuit companies do not. There are many benefits to choosing Uplift Legal Funding, just a few of them are listed below:

• If you do not win your case, you do not have to pay the loan back
• We give legal funding based on the case, not your credit, we never check credit or employment history.
• Uplift works with your attorney to ensure you get your money as fast as possible.
• We have a completely paperless funding process
• Your funding is transferred to you within 24 hours of approval.

Call us today at (800) 385-3660 or apply online to see if you qualify in as little as two minutes.