Delancey Street is a direct lender to plaintiffs and offers pre-settlement funding solutions. We provide case funding to a wide array of cases where our client is the plaintiff and is in need of funds. As a direct lender, we can provide fast response times, lower rates, and no junk fees. We take the time to answer your questions and address your questions. You are free to use the funds we give you as you wish.
Lawsuit loans are a great way to take care of medical costs and other basic expenses while you wait for your case to reach a conclusion. Often, plaintiffs have to settle quickly and for much less than they deserve because they need the funds fast. Pre-settlement funding gives you immediate cash, so you can wait for your case to settle. Many attorneys recommend lawsuit funding because if you lose the case – you don’t have to repay the loan. You only repay the money if you win the case.
This isn’t a lawsuit loan
Many people refer to lawsuit cash advances as lawsuit loans, settlement loans, or pre-settlement loans. It’s important to know these aren’t loans of any kind. This is the #1 reason why credit isn’t a factor. Even if you’re not employed, that’s not important. Delancey Street doesn’t verify your employment history in order to approve you. Even though many people “popularly,” call lawsuit funding a type of loan, it is not. The only thing we need to do is verify that you have a lawyer, and have a valid claim.
Unlike normal loans, there’s no out of pocket fees for applying. Moreover, we offer a risk free consultation which costs you absolutely nothing. You only repay the lawsuit funding cash advance if you win your case. The best part is your lawyer is responsible for paying us directly once your case settles. You really don’t have to worry about dealing with us.
Insurance companies don’t want you to know
Insurance companies know a lawsuit isn’t cheap. They also know that while you’re FIGHTING it, you’re not working, and able to make money. They know your expenses are piling up. Insurance companies use this fact as a WEAPON. They drag out the litigation process for as long as possible, so you automatically accept whatever they are offering. Don’t accept small amounts of money just because you’re having financial difficulties. Let Delancey Street help you with your bills. The longer you fight, the higher the potential of you getting more money.
-If you lose your case, you don’t owe us a penny.
-We don’t check your credit score. It doesn’t matter if you a job.
-There are NO payment until your case is settled.
Lawsuit Funding vs Normal Loans
If you’re running out of money, and unable to pay your bills – then a lawsuit loan might be right for you. Running out of money isn’t a good feeling. People turn to different things when they run out of money. It’s always best to exhaust all other sources of money, such as your 401K, and other savings you may have. It might even be a good idea to speak to family members – before you consider a lawsuit loan. These loans aren’t cheap. They are “risk-free,” because if you lose your case – you don’t have to pay a penny back. Below are some comparisons of lawsuit funding versus traditional loans.
“Lawsuit loans,” aren’t really loans. The correct term is they are cash advances. Lenders, like Delancey Street, offer a cash advance against the future value of your claim. Regardless of whether it’s a business dispute, or a personal injury claim, at the end of the day you’re a plaintiff in a claim – and that claim has value. The lender (Delancey Street), is giving you funds against the value of that claim. The lawsuit funding company is speculating that the money you make in your claim will be enough to cover the amount loaned out plus interest. There’s an enormous amount of risk attributed to lawsuit loans, and that’s why lenders charge higher than average interest. Because they are cash advances, pre-settlement funding cash advances don’t require repayment in the event you lose the personal injury claim. If you lose, you are not obligated to repay the loan. In contrast, with a traditional loan, you will probably have a lower interest rate. Here’s the tradeoff though. Traditional loans, from a bank, for example, must be repaid. Traditional loans are based on your credit, and are extended based on the fact you are a credible borrower. Having said that, they are not being advanced against the future value of a claim. They are a traditional loan, and thus must be repaid like a traditional loan is. If you don’t repay it, then you can be sued – and you could find your credit score destroyed because of this.
There’s no getting around it – lawsuit loans are very expensive. When you pay a lawsuit funding lender, you pay the principal you borrowed, plus a funding fee/interest payment. This fee could end up being double or triple what you borrowed. The cost of the lawsuit loan depends on how long your case lasts. It’s not unusual for personal injury cases to take months/years to settle. The rates can run between 15-60% a year. On a $25,000 loan, it’s possible the interest could run $10-$13k the first year. The interest is usually compounded monthly, which means if you borrow $25k, and it takes 2 years to settle – then you’d have to pay $32k plus the $25k borrowed.
Types of Cases
Divorce cases can be very one sided if one party controls all the finances. Spouses are forced to settle early, and get less than what they deserve due to not having enough money. We help balance the scales. In exchange for providing lawsuit funding, we either take a % of your final settlement, or will offer a loan on interest. We customize a financial plan just for you – based on whichever situation makes sense at the time.
Divorce is a difficult process, but money should never stop you from getting what you deserve. There’s an inherent imbalance in cases where one spouse has more financial resources than the other one. This is typical among situations where one was the main breadwinner, or when there was a huge income difference between the spouses. The more financially secure partner can drag out the divorce, drive up costs, and worse – hide assets. Eventually, the less financially stable spouse concedes. The resulting community property is smaller than expected as a result.
Delancey Street creates opportunities where none exist. We level the playing field for spouses who have millions in combined assets. We provide direct divorce case funding for things like: attorneys fees, forensic accountants, asset investigators, fraud investigators, and reasonable living allowances.
We are not a broker. We have a team of experts who understand asset investigation and collections. We work with you and your divorce attorney to provide comprehensive services and funding. We can supplement your existing divorce legal team, and pay your divorce team directly – reducing any issues for you. The funds we invest into your divorce case are based on our assessment on what we think is needed to win your claim. As your divorce lawsuit funding partner, we are 100% invested in your claim and resolution. We analyze each and every case, and offer funding when we believe we can help. We fund all the fees related to your case. In return for this, we receive a % of your final divorce claim resolution.
We have the expertise, and funding, needed to get you the final resolution you need and deserve. We will help you get the funding you need. We are your partner. When we invest in your case, we are investing in you – and your financial well being. When we speak to you, we’ll discuss your case and how we can help. Next, our investigations will conduct an interview to uncover your assets and their location.
By giving you funding, we are leveling the playing field. Our experience has shown us that when both parties have resources to fight their divorce claim – it’s a major incentive to settle the divorce amicably. We believe in our approach of leveling the playing field.
Criminal Defense Cases
If you’re the defendant in a criminal defense case and need a loan, we can help you. Often, we see defendants run out of money and requiring immediate funds. While this is a very unconventional loan – we are happy to help. We provide loans for criminal defense cases where the defendant provides real estate as collateral for the loan. By securing the loan with tangible real estate the defendant owns, we can provide loans up to $5,000,000. This is ideal for borrowers who fit the criteria of:
-Poor credit history
-No existing source of income
-Need funding fast
-Have real estate which is used as collateral
In situations like this – when your future is at risk, we understand the pressure you are under. We move fast when it comes to funding. In most cases, we can offer lawsuit loans in 24 hours after you fill out our application, and conduct all the necessary steps.
What might you owe on a lawsuit loan?
One of the most frequently asked questions we hear is what happens if you win the case, and what happens if you lose the case. At the end of the day, winning the case is a great thing! Here’s the good news: you are only required to pay us back if you win your case. If you lose your case, you don’t owe us a single penny. If you win your case your attorney will repay Delancey Street out of the proceeds of your award. The amount that your attorney is required to pay us is calculated based on a formula. You will probably owe less money if your case settles sooner rather than later. The amount you owe depends a lot on the type of case you have, and what state you’re in.
While your case is pending, you don’t have to make any payments – and there’s no risk to you. Moreover, you can use the money for anything: house payments, car payments, rent, tuition, pretty much anything. More importantly, if you lose the case – you owe us nothing.
What happens if you lose your case
This is another popular question we’re asked, the answer is simple: you don’t owe us a penny. Lawsuit loans are not like traditional loans. That’s because they aren’t like traditional loans at all. In reality, lawsuit loan is a misnomer – they are, in reality – a cash advance. We’re advancing you money based on the future value of your claim. We are hypothesizing that you will win your case, and thus be able to repay the loan. It’s also possible that we are wrong and you lose your case. As a result, lawsuit funding is really considered non-recourse funding. It means if you lose your case, you don’t have to pay us back even a penny. You only have to repay us if you win. When you win your case, the attorney repays Delancey Street from the proceeds of your award. The amount your attorney repays us is very simple. We understand that cases are difficult and it’s hard to know if you’ll win, or when you’ll get paid. Bottom line, we only get paid WHEN you get paid. If you win your case, but for some reason there’s a delay in getting paid – that’s ok, we’re waiting just like you are. In reality lawsuit funding is one of the best ways to get funding because it’s non-recourse.
If you need a pre-settlement funding cash advance, then you should reach out to us. We can help provide you with the funding you need.
Can businesses in litigation get funding?
YES! Delancey Street provides litigation funding for all types of claims, ranging from personal injury and mass torts to Business to Business litigation. We evaluate the strength of your claim and then decide how much to advance you. We typically advance $100k-$500k for business litigation financing and have a proprietary algorithm which helps us decide which claims are strong, and which are weak. If we decide to fund you – not only do you get our funding, but you get all of the resources our company has to offer, including access to the numerous advisors we work with.