Illinois Lawsuit Funding
You may need help managing your personal expenses while you wait for your lawsuit to move through the court. Pre-settlement lawsuit loans in Illinois are a way that you can find financial help when you’re patiently waiting for your legal claim to process. An Illinois lawsuit loan is a way to get cash on hand quickly in order to make it until you receive your settlement check.
What is an Illinois lawsuit loan?
An Illinois lawsuit loan is a payment that you receive that helps you cover the period between bringing your legal claim and the end of the legal claim. When you’re hurt in an accident, you don’t receive your settlement check right away. Even with a skilled attorney working on your case, it can take months or even a year or more to finally see a check in your hand. If you resolve your case too quickly, you might resolve the claim for far less than it’s worth. With an Illinois lawsuit loan, you can pursue your claim to its full resolution without having to worry about how to pay your bills while you wait.
What does it mean to get an Illinois lawsuit loan?
An Illinois lawsuit loan is a conditional loan that you receive from the loan company. The company gives you the loan to fund your personal expenses and pay critical bills while you’re in the middle of the lawsuit. The loan is conditional in that you only have to pay it back if you win the lawsuit.
Once you win your case and you receive your settlement check, you repay the loan along with the interest according to the terms of your contract. If you don’t win your case, you keep the money that you receive from the loan company. Either way, it’s a win for a victim who needs money now. If you win the case, you have the money to repay the loan. If you don’t win the case, you keep the money. Either way, you have the cash that you need in order to bridge the gap while your case languishes in the courts.
What Illinois lawsuit loan do I qualify to receive?
You may ask for a lawsuit loan based on almost any type of injury case. Slip and fall accidents, car accidents, construction accidents, negligence and almost any other type of personal injury claim qualifies. You must be the plaintiff in the case asking for financial compensation from another party.
The amount that you can borrow depends on what you ultimately expect to receive in your case. You can borrow a percentage of the projected total recovery in the case. When you work with our Illinois lawsuit loan team, we work with your personal attorney in order to determine the likely value of your case.
Our team can help you decide on an amount that is realistic based on the value of your case and based on your needs in the waiting period. Ultimately, you want to borrow the amount that you need in order to pay basic expenses while you await the outcome of the case. Our team of representatives wants to help you arrive at the best amount for you and your family.
Can I use my Illinois lawsuit loan for rent or my mortgage?
You can use your Illinois lawsuit loan for your rent or your mortgage. In fact, covering your rent or mortgage and keeping you in your home is one of the primary purposes of the Illinois lawsuit loan. Any basic living expenses that you have including food, medical needs and family care needs can qualify. You can even use the funds to cover child-related expenses that you are otherwise unable to pay because of lost work. The purpose of the loan is to allow you to continue life as normal until you resolve your case.
Contact our Illinois lawsuit loan team
Are you struggling to make ends meet after a personal injury accident? We can help. Our team can answer your questions and help you determine if a lawsuit loan is right for you. There’s no obligation to speak to a member of our team. Please contact us today.