California Lawsuit Cash Advances
California Lawsuit Cash Advances – Every year, Americans file more than seven million civil lawsuits. The median award across all types of cases for plaintiffs who win is around $30,000. Some types of cases, such as employment discrimination and medical malpractice, regularly end with awards worth hundreds of thousands of dollars.
Winning a civil lawsuit, however, can take months or even years. During that time, plaintiffs often struggle with medical bills and the daily costs of living. That’s where California Lawsuit Loans come in.
Keep reading now to learn how pre settlement loans in California work and how you can benefit from applying for one.
California Lawsuit Loans 101
In the 1990s, courts started to grant plaintiffs in civil cases much higher awards. These awards were often comprised of a combination of compensatory damages and punitive damages. These awards were designed both to force positive change within corporate structures and to help plaintiffs recover from the harm they suffered.
Unfortunately, the wheels of justice turned too slowly for many plaintiffs. While waiting for their cases to be heard and resolved, plaintiffs struggled with:
- Paying their mortgages or rent
- Keeping food on the table
- Paying medical bills associated with injuries or illnesses
These stressors often pressured plaintiffs into settling for less money than they deserved simply because they needed funds right away. In other cases, plaintiffs had racked up so much debt and interest that when they received the award they barely broke even.
Financial services companies invented, California lawsuit cash advances to meet the needs of these plaintiffs.
How Lawsuit Loans in California Work? – APPLY NOW? CLICK HERE
Put simply, lawsuit loans are cash advances that financial services companies make with plaintiffs. They are simple to apply for, receive, and payback.
First, if you have not already, you will need to secure a lawyer and formally file your case with the court. This is important because service companies cannot process your request for a loan until they can verify your case.
If your case is already established, you can apply for a lawsuit cash advance right away. To complete the application, you will need:
- Your full legal name
- Current contact information
- The name and contact information of your lawyer
- The state in which your case has been filed
- The type of lawsuit you have filed (e.g. personal injury or medical malpractice)
- How much your lawyer requests on your behalf in damages
Once the financial service company receives your application, their legal team will review your case. If everything is in order, the financial service company will use its internal calculation process to determine how much it can advance you. You may qualify for an advance on the total amount you are requesting or only a portion of that total.
When they approve you, the financial service company will provide you with a copy of the loan agreement. You can review this agreement with your attorney to make sure you fully understand the terms.
Once you sign and return the agreement, the financial services company will deliver your funds to the bank account of your choice almost immediately. The money is yours to spend at your discretion. The entire process is quick and efficient.
Paying Back A CALIFORNIA LAWSUIT CASH ADVANCE
When you win your case, the money you received from your cash advance and the interest on the loan will be immediately repaid to the financial services company. Any remaining funds will go to you.
For example, imagine that you are suing a former employer for discrimination. You expect to receive $100,000. To cover your expenses in the meantime, you apply for and receive a $50,000 lawsuit cash advance in California with a ten percent interest rate.
When you are awarded your $100,000 in damages, $55,000 will go to the lender to pay off your loan and interest. The remaining $45,000 of your award will go to you.
Who Can Apply for California Pre Settlement Loans?
In California, pre-settlement loans are available to plaintiffs in qualifying civil cases. These include:
- Personal injury cases, including slip-and-fall situations
- Medical malpractice cases
- Employment discrimination and wrongful termination cases
- Motor vehicle accident cases
The only types of civil cases in which plaintiffs are legally barred from getting cash advance settlement loans are workers compensation cases.
Pre-settlement loans do not apply to criminal cases and are not available to anyone who has not retained a lawyer and formally filed their case with the court system.
Why Might You Want to Apply for California Lawsuit Cash Advances?
The primary reason that plaintiffs apply for lawsuit loans in California is that they cannot wait for their settlements to be determined and paid out. Civil cases can take months or even years to wind their way through the court system.
In many cases, the plaintiff is left facing a pile of bills in the meantime.
- Personal injury case victims may face steep medical bills
- Car accident victims may need to replace their vehicles to keep working
- Injured or discriminated-against plaintiffs may be unable to work, leaving them without income
Whatever the specifics of the case, plaintiffs need funds to continue paying for the necessities of life. This can include:
- Mortgage or rent
- Food and clothing
- Utilities
- Medical care
- Paying back student loans and other financial commitments
Trying to pay for these things out of personal savings while waiting for a settlement to come through can:
- Deplete personal savings, leaving families vulnerable
- Cost plaintiffs valuable interest and growth in their investment products and retirement funds
- Lead to overuse of credit and hefty interest charges
- Create unnecessary stress and strain on plaintiffs and their families
- Result in the loss of homes, vehicles, and other assets
Pre-settlement loans provide a ready supply of cash that plaintiffs can use to pay for the things they need while their case works its way through the system. These loans require no cash or collateral on the part of the borrower, and they enable plaintiffs to hold out for the whole amount due to them by the defendant.
Why Civil Cases in California Can Take So Long
Civil cases in California work under the “pure comparative negligence” rule. This means that by law fault can be shared by both a plaintiff and a defendant.
If the fault is shared, the costs must be as well. Thus, plaintiffs can only apply to receive damages to the degree that the defendant is at fault.
For example, imagine that you are in a car accident. The total costs of your vehicle damage, personal injuries, and lost wages are $150,000.
- If the other party is solely at fault, you can sue for $150,000 in damages
- If you are solely at fault, you are not eligible to receive any damages and may have to pay the other party
- If you and the other party are equally at fault (50/50), can you receive damages of up to $75,000
Fault can be split to any degree. For instance, the court may find you 20 percent responsible. In that case, you would be eligible to sue for and receive only 80 percent of the total costs incurred.
To maximize the amount of money you are eligible to request, your lawyer will go to great lengths to show that you are not in any way at fault. At the same time, the defendant will work equally hard to find a way to prove that you are at fault to some degree. This makes cases in California slow to go to trial and to work their way through the court system.
California Pre Settlement Loans Are a Low-Risk Solution
One of the key questions that plaintiffs have when it comes to lawsuit loans is “what happens if I lose my case?” This is an understandable fear but pre-settlement loans are “non-recourse.”
This means that, by law, if you lose your case you do not have to repay your loan. You pay only if you win your case or choose to settle out of court. These terms protect vulnerable plaintiffs from accumulating debts they cannot pay.
Moreover, all of the terms of the loan are provided to plaintiffs to review with their attorneys before signing. This ensures that plaintiffs have assistance in reviewing the terms and understanding the whole of their situation.
As a result, California pre settlement loans are entirely safe. They provide a low-risk infusion of cash when plaintiffs need it most, and deliver peace of mind and control throughout the lawsuit process.
Learn More
California lawsuit loans can protect you and give you peace of mind during your court battle for the compensation you deserve. Contact us today for more information or to apply for the loan you need right now.
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Additional Resources:
Why You May Need Lawsuit Funding
Lawsuit Funding – Why It Can Help
Auto Accident Lawsuit Loans – Here Are The Benefits
Law Firm Loans On Open or Closed Cases
Whistleblower Lawsuit Cash Advances
Medical Malpractice Lawsuit Loans
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