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Pre-Settlement Legal Funding Fills a Major Financing Gap to Benefit Personal Injury Victims

The following piece is a contribution by Charles W. Price, CEO of Capital Now Funding, LLC. 

The pre-settlement legal funding industry is often viewed in a negative manner by those outside of the industry, because settlement advances charge higher interest rates than traditional lending methods. The truth is, that without pre-settlement legal funding, those personally injured in accidents that were no fault of their own often do not have the financial means to properly care for themselves following a personal injury accident.  Therefore, pre-settlement legal funding plays a vital role by providing much-needed financial assistance for personal injury victims when they have no other options available to them.

Added Expenses and Zero Income

To fully understand the situation personal injury victims are going through, it is helpful to see things from their point of view. These victims have been injured due to another person’s negligence, to a degree in which they are unable to work and create income to support themselves and their families. In addition, they are now accumulating further expenses as a result of those injuries. The cost of physical therapy, follow-up doctor visits, and surgeries, can total thousands of dollars of additional costs for which the victim is now responsible. Even if the injured victim has health insurance, copays and deductibles are often more than they can afford in the event of an unexpected accident.

Making matters worse, this costly ongoing care can be for an indefinite period of time, leaving injured victims with medical bills totaling more than they can afford.  As a result, injury victims are then faced with the choice of going into debt in order to receive proper healthcare or forgoing treatment altogether.

Recent studies show that 69% of Americans have less than $1,000 in savings, and 45% of Americans have $0 in savings. Roughly 61% of Americans live paycheck to paycheck and do not have enough money to pay their bills if they cannot work for one week.  Injured victims seeking pre-settlement legal funding often face months of time away from their income. Data also shows that individuals with less savings statistically have the lowest credit scores in the nation, making options to borrow money from traditional methods such as a bank loan nearly impossible.

Why Seek Pre-Settlement Legal Funding?

Considering a typical personal injury victim’s situation and circumstances, pre-settlement legal funding is likely the only option available.  Also considering the additional benefits pre-settlement funding provides consumers, it is also a better option.  Most pre-settlement funding companies provide funding that is non-recourse, meaning that clients receiving funding only have to pay back the money advanced if a settlement is reached, and if there are sufficient funds remaining after paying off all other liens and attorney fees. The pre-settlement legal funding company takes on this risk as part of the funding agreement, which is advantageous to the personal injury victim.

Selecting the Right Pre-Settlement Company Can Save Thousands of Dollars

The most important aspect for an injured victim to consider when seeking pre-settlement funding is the wide variety of interest rates offered by different funding companies.  Many companies charge interest rates that compound or escalate at varying time intervals.  Depending on how long it takes the case to settle, the payoff can be considerably more than the cash advanced.

This is why it is extremely important for the injured victims and their attorneys to select a pre-settlement funding company that results in the client receiving the most money possible when the case is settled.

At Capital Now Funding, we offer pre-settlement funding for a one-time fixed fee with zero interest. Because our funding fees are fixed, our clients’ payoffs are fixed, no matter how long it takes their legal claim to settle. This keeps things simple and eliminates the possibility that a client’s payoff will increase.

Choose Your Pre-Settlement Funding Company Wisely

There are a lot of great pre-settlement funding companies to work with, but it is up to the client and his or her attorney to select the pre-settlement company that is in the client’s best interest. Because this choice can affect the amount of money the client walks away with upon settlement, we recommend thoroughly researching the chosen funding company and reading through as many reviews as possible before signing any agreements. Making a wise choice when partnering with a funding company will keep fees and interest low, and ultimately increase the amount of money a client receives at the end of a legal claim.

About the Author

Charles W. Price is Chief Executive Officer of Capital Now Funding, LLC, a nationwide provider of pre-settlement funding for personal injury cases. Capital Now Funding provides industry leading Fixed Fee funding with zero interest, which protects clients and preserves their ultimate settlement amount. For more information, you can contact Charles at cwprice@capitalnowfunding.com.

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Announcements Consumer

Legal-Bay Lawsuit Funder Launches Legal Funding Calculator for Consumers

By Harry Moran and 4 others |

Legal Bay Presettlement Funding announces their new funding calculator for customers to compare pricing models of lawsuit loans between funding firms. It should be noted that Legal Bay doesn't charge compounding interest like many other legal funding companies, keeping payback costs lower right from the start. As one of the best lawsuit loan companies in the industry, Legal Bay ensures flat pricing, transparent contracts, and a helpful, knowledgeable staff to walk you through every step of the lawsuit loan funding process.

  1. Legal Bay is a direct funder—not a legal funding broker—which is the first distinction customers should make when researching legal funding options. Here's why:
  2. Being a direct funder allows Legal Bay to expedite cases faster, normally within 24-48 hours after applying, once all documents have been received.
  3. Being a direct funder allows Legal Bay to provide lawsuit loans with cap out provisions for cases that qualify without additional broker fees.
  4. Compound rates can grow substantially over the course of your case settlement funding, while flat interest stays the same at about 20% percent every 6 months.
  5. Legal Bay's lawsuit settlement programs are non-recourse which means the client will not have to pay back the loan if the case does not settle.

Chris Janish, CEO of Legal-Bay, commented, "Our funding calculator gives consumers an invaluable tool to compare payback costs. Plaintiffs will see that our direct funder platform means you deal directly with our staff and underwriters—not a broker. Our direct funding model allows for the fastest approvals, reduced rates, and no added broker fees, keeping your costs low. Legal-Bay's flat pricing—as opposed to compounding interest—and our best price guarantee ensures the lowest rates in the litigation finance industry. On large funding amounts, consumers should be aware of payback costs. The savings of Legal-Bay's flat-rate pricing versus contracts with compounding interest can be substantial."

Legal-Bay's funding model is designed to put more money back in the plaintiff's pocket at settlement. If you or a loved one need an immediate lawsuit loan in advance of your impending lawsuit settlement, please apply online HERE or call toll free at 877.571.0405 where agents are standing by.

Legal-Bay assists plaintiffs in all types of lawsuits, including commercial and mass tort litigation, personal injury cases, slip and fall accidents, property damage, car accidents, medical malpractice, wildfires, and many more. If you're looking for the lowest rates in legal funding, legal funding companies without broker, flat rate pricing or simple pricing legal funding companies, easy to use funding calculator, calculator for lawsuit loans, then Legal Bay is here to help.

Their loan for settlement funding programs are designed to provide immediate cash in advance of a plaintiff's anticipated monetary award. While it's common to refer to these legal funding requests as settlement loans, loans for settlements, law suit loans, loans for lawsuits, etc., the "lawsuit loan" funds are, in fact, non-recourse. That means there's no risk when it comes to loans in lawsuit settlements because there is no obligation to repay the money if the recipient loses their case. Therefore, terms like settlement loan, loans for lawsuit, loans on settlement, or lawsuit loan funds don't necessarily apply, as the "loan on lawsuit" isn't really a loan at all, but rather a stress-free cash advance.

For more information about lawsuit loans, please visit us HERE or call toll free at 877.571.0405 where a skilled agent can answer any questions you may have.

Announcements Consumer

Legal-Bay Pre-Settlement Funding to Begin Funding Hawaii Wildfire Claims After Major Supreme Court Decision

By Harry Moran and 4 others |

Legal-Bay, the Pre Settlement Funding Company, announces today that they are committed to funding their clients in Hawaii who are dealing with wildfire claims. In light of the Aloha state's Supreme Court ruling last week, a previously stagnant $4 billion settlement has now been allowed to proceed, providing financial assistance to numerous displaced Hawaiians still dealing with the after-effects of the deadly inferno.

The 2023 Lahaina wildfire on the island of Maui was the most devastating United States fire in over a century. It killed over 100 people and turned entire towns into ash. Thousands of lawsuits against those responsible for the blaze--including Hawaiian Electric, Kamehameha Schools, the state of Hawaii, and Maui County—soon followed. While the $4 billion offer doesn't come close to covering the $5 billion in property damage—not to mention the incalculable loss of life—attorneys accepted the offer amidst rumblings that the main defendant, Hawaiian Electric, might declare bankruptcy.

Between homeowners, renters, and businesses, insurance companies have already paid out $1.5 billion to victims and are expected to pay out close to $1 billion more. Monday's ruling is a good way for insurance companies to receive reimbursement as well as victims to receive future payouts, paving the way for all parties to move forward with their claims. The case is scheduled to be sent back to a Maui judge to determine what comes next.

Chris Janish, CEO of Legal-Bay, commented, "My personal connection to Lahaina and its residents makes seeing the devastation that much harder. We are committed to immediately funding wrongful death wildfire cases in large funding amounts for those families that need it. And we will be assisting renters who are displaced by getting cash advances to help them until a final settlement comes.  Our experience in California wildfire cases enables our underwriting team and staff to process approvals quickly for renters, homeowners, and commercial claims."

If you are a lawyer or plaintiff involved in an active wildfire lawsuit and need an immediate cash advance settlement loan against an impending lawsuit settlement, please visit Legal-Bay HERE or call toll-free at 877.571.0405.

Legal Bay has a long history dealing with wildfire lawsuits, as they've been a leader in almost every case over the past seven years. They were one of the first companies to fund PG&E plaintiffs during the California Camp Fire lawsuits back in 2018, and they've remained involved throughout every wildfire and natural disaster since. They are dedicated to supporting their clients in need of financial assistance, specifically those that are dealing with the aftermath of natural wild fire disasters in places like Hawaii, Oregon, Washington, and California.

Numerous renters, homeowners, and business owners have been temporarily displaced, or seen their homes and companies destroyed altogether. Amidst the devastation and uncertainty, people who have been affected by tragedy need help and they need it now. In these circumstances, legal funding—sometimes referred to as "lawsuit loans" or "settlement loans"—can be immensely beneficial. Legal-Bay is leading the charge to provide loans for settlements to affected residents as soon as possible.

As a leading lawsuit funding provider, Legal-Bay knows that relocation efforts can cost their clients money they don't have. Some are looking into loan settlement options in order to fund basic living expenses while they get their lives back on track. A loan for settlement can also help bridge the gap of time it will take to receive that eventual check from the insurance company. Legal-Bay is proud of the numerous funding they've provided for their current crop of clients along with providing a multitude of loan on lawsuit options for any future financial needs.

If you're the plaintiff in an existing wildfire lawsuit and need an immediate advance against your anticipated cash settlement award, you can apply HERE or call: 877.571.0405

Legal-Bay lawsuit funding remains vigilant in helping clients who have seen their homes and properties damaged by recent events. Additionally, any new clients that have an existing lawsuit and need cash now can apply for regular settlement funding to help them get through their own crises. Legal-Bay funds all types of loans for lawsuits including personal injury, slips and falls, car accident lawsuit, property damage, commercial litigation, and more.

Legal-Bay is one of the best lawsuit loan companies when it comes to providing immediate cash in advance of a plaintiff's anticipated monetary award. The non-recourse law suit loans—sometimes referred to as loans for lawsuit or loans on settlement—are risk-free, as the money doesn't need to be repaid should the recipient lose their case. Therefore, the lawsuit loan funds aren't really a loan, but rather a cash advance.

To apply right now, please visit the company's website HERE or call toll-free at: 877.571.0405 where agents are standing by.

Announcements Consumer

Legal-Bay Lawsuit Funding Announces Closing of $10MM Senior Secured Notes

By Harry Moran and 4 others |

Legal-Bay, the premier legal funding company, announced today the closing of $10MM in senior secured notes for their short-term growth plans. Legal-Bay, established in 2006 and one of the oldest legal funding firms in the "Lit Fin" industry, is now poised to aggressively fund car accidents, slip and falls, personal injury, sex abuse cases, sex harassment on job, wrongful termination, discrimination, Bard hernia mesh cases, Hawaii and California wildfire cases, and a slew of other cases with their increased capital commitment.

Chris Janish, CEO of the company, talked about the company's goals, "With this new capital commitment and consistent recurring origination flow each quarter, we are excited about the future. We have a target to become one of the largest legal funding portfolios in the industry over the next four years. This initial capital closing is a bridge for more substantial capital needs over the next twelve months with our business model projecting $25MM to $30MM in additional assets to absorb our anticipated sales growth." 

Legal-Bay is known as one of the best lawsuit funding companies in the industry for their 24-hour approvals and great customer service. They have enlarged their staff to take on the increased volume of clients applying for loans on lawsuits. 

If you are involved in a car accident or another lawsuit that is lagging in the courts and need cash today, you may apply right now for a cash advance on your case.

If you are a plaintiff or attorney involved in an active lawsuit and need an immediate cash advance lawsuit loan against an impending lawsuit settlement, please visit Legal-Bay HERE or call toll-free at 877.571.0405.

Legal-Bay's loan settlement programs are designed to provide immediate cash in advance of a plaintiff's anticipated monetary award. The non-recourse law suit loans—sometimes referred to as loans on lawsuit or loans on settlement—are risk-free, as the money doesn't need to be repaid should the recipient lose their case. Therefore, the lawsuit loan isn't really a loan, but rather a cash advance.

To apply right now for a loan on lawsuit program, please visit the company's website HERE or call toll-free at: 877.571.0405 where agents are standing by.