Auburn, Maine Lawsuit Loans
- Get Cash As Soon As Today
- Rates As Low As 2.5% Simple, Monthly
- Repay $0 If You Lose
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What Are Lawsuit Loans in Auburn, Maine
A lawsuit loan, also known as pre-settlement funding, is a type of financial aid available for injured plaintiffs waiting for their cases to resolve. Essentially, it offers an advance against your future legal settlement. The notable benefit of a lawsuit loan, also called a lawsuit cash advance, are its non-recourse nature. It means if you don’t win the case, you owe nothing back.
Let’s consider Kenneth, a resident of Auburn, Maine, who’s unfortunately been a victim of a car accident. While Kenneth’s personal injury claim continues, he needs financial support to manage his bills and everyday expenses. Here’s where a lawsuit loan steps in.
Kenneth applies for a lawsuit loan, providing necessary information about his claim and attorney. After reviewing his application, we approve him for a lawsuit loan based on the strength of his case. He receives the funds, helping him stay afloat financially until his case resolves. Once he wins the case and receives his settlement, only then does he pay back the lawsuit loan. However, should Kenneth lose his case, he owes nothing back.
This hypothetical scenario underlines how a lawsuit loan can come to the rescue of plaintiffs like Kenneth, who need financial assistance while their cases are pending.
How Lawsuit Loans Work
Here’s how the lawsuit loan process works in three easy steps. The entire process can be completed within 24 hours with your attorney’s help.
Apply Online or Call Toll-Free
Apply online or call us toll-free at (866) 594-1343. Submitting your application takes minutes.
We Review Your Case
Next, we contact your law firm and collect basic information to review your case. Review only takes a few hours.
You Receive Funds
You and your attorney review and sign our funding contract. Once complete, you can have funds within hours.
Important Maine Lawsuit Loan Information
Lawsuit loans can serve as a financial lifeline for plaintiffs waiting for their court case to conclude. They provide necessary funds for living expenses and covering bills during the legal process. The table below offers a snapshot of key lawsuit loan details specific to the state of Maine.
|Average loan amount by LawsuitLoans.io in Maine||$130,067.00|
|Largest loan by LawsuitLoans.io in Maine||$130,067.00|
|Average semi-annual rate in Maine||20.0%|
|Median personal injury verdict in Maine||$27,000 to $113,500|
|Maine statute of limitations||6 years; Maine Revised Statute Title 14 Section 751|
|Maine fault laws||Maine is an “at-fault” or “tort” state, meaning the driver found to be responsible for the accident is liable for damages.|
|Portland population, 2020||24,061|
Get up to $500,000 with rates as low as 2.5% simple, monthly
Common Case Types We Fund in Auburn
LawsuitLoans.io provides funding for a variety of legal cases to help plaintiffs make ends meet while they wait for their case resolution. Below, we have listed our most common case types that we fund in Auburn:
1. Auto and Other Roadway Accidents
We provide financial support to those who have been involved in various roadway accidents. This can include car accidents, motorcycle accidents, truck accidents, pedestrian accidents, and bicycle accidents.
2. Premises Liability
This involves cases where an individual has been injured due to unsafe conditions on someone else’s property. Examples may include slip and fall cases, or accidents at a construction site.
3. Medical Malpractice
If you have suffered an injury as a result of negligent medical care, we can provide the financial support you need during your claim process.
4. Labor Law Claims
Those involved in cases relating to violations of labor laws, such as unpaid wages or overtime, might also qualify for our lawsuit loans.
5. Employment Claims
If you’re involved in an employment dispute, such as wrongful termination or discrimination, we can provide you with the necessary funds while your case is being resolved.
6. Other Personal Injury Claims
Beyond the above-mentioned categories, we also fund other personal injury claims. If you’ve been injured due to someone else’s negligence, we’re here to help you through your financial needs during the legal process.
Get an Instant Quote
Input your requested funding amount and the time your case may take to settle here to see your savings and cost when you choose LawsuitLoans.io. While we sometimes offer interest rates as low as 2.5%, our calculator assumes an interest rate of 2.9%. This calculator is illustrative – please contact us for an instant, written quote for your request.
Months Until Settlement:
Pay as little as $2,631 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Save as much as $1,697 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Save as much as 39% on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Am I Eligible for a Lawsuit Loan in Auburn?
If you’re considering a lawsuit loan, you might be wondering about the eligibility criteria. LawsuitLoans.io provides pre-settlement funding to plaintiffs with valid legal claims against insurance companies, self insured companies, or large public entities.
However, there are a few key requirements that you must meet. These include having a lawyer who is representing you in your case and being at least 18 years old. In other words, if you have an attorney and a valid legal claim, and you are an adult, you likely qualify for a lawsuit loan.
To check your eligibility or to apply for a loan, you can visit LawsuitLoans.io funding application. Remember, the team at LawsuitLoans.io is always ready to help with any questions that you may have. You can also reach us at our toll-free number, (866) 594-1343.
Apply today and get funds as soon as the same day you apply!
Our Auburn Lawsuit Loan Process
Understanding how lawsuit loans work can be simple, especially with our easy five-step process. Here are the basic steps a plaintiff must follow to get a lawsuit loan.
- Apply online: The first step is to fill out an application on our website.
- We contact your law firm: After receiving your application, we will reach out to your legal team to gather more details about your case.
- We review your case: Our legal experts will carefully review your case to determine if you qualify for a lawsuit loan.
- You sign a contract: Once approved, we will send you a contract detailing the terms of the loan. You will need to sign this agreement before the funds are disbursed.
- You get funds: Simply sign the contract and you’ll receive the funds you need while waiting for your lawsuit to resolve. This process is usually fast, often within 24 hours.
For instance, consider John, a plaintiff who recently suffered injuries from a car accident. John applied for a lawsuit loan at LawsuitLoans.io, and after reviewing his case, we decided that he was eligible for funding. He quickly signed a contract and received his funds in less than 24 hours, allowing him to manage his financial responsibilities as he waited for his lawsuit to settle.
How Much Money Can I Get From my Lawsuit Loan?
Lawsuit loans from LawsuitLoans.io can range anywhere from $500 to well over $1,000,000. It’s all dependent on the details of your unique legal circumstances. If your case is still in progress, we can provide an advance up to a maximum of 25% of your expected portion of the settlement. For cases that have already been settled, we’re able to offer up to 50% of your expected part of the settlement.
To put this into perspective, let’s consider an example where an Auburn plaintiff has suffered a car accident. The estimated value of the case is around $100,000. Medical providers typically receive about one-third (1/3) of the settlement, the attorney receives another one-third (1/3), leaving the plaintiff with approximately $35,000. In such a scenario, even if the case is still in progress and not yet settled, we can advance around 25% of the plaintiff’s expected amount, which would be roughly $8,250.
Get $500 – $100,000 as soon as today
We understand that if you’re applying for funding with us, you needed the funding yesterday. With your attorney’s cooperation, we can provide funding as soon as the same day you apply with us.
How quickly can I get a pre-settlement lawsuit loan in Auburn?
If you’re a plaintiff with a personal injury or other legal case in Auburn, you might be wondering about the timeframe for receiving a pre-settlement lawsuit loan. The good news is, at LawsuitLoans.io, we pride ourselves on our swift, efficient process. Once your application is submitted, we quickly get to work on reviewing your case.
In most instances, we are able to make a decision within 24 hours. This means that you could potentially have access to the funds you need in less time than it would take to physically deposit a check at the bank. Our speed and efficiency set us apart in the industry. We understand that legal cases can drag out, and while you’re waiting for resolution, your bills don’t stop coming in. That’s why we aim to put the money you need into your hands as quickly as possible.
Take John, for example. After being involved in a car accident and starting a lawsuit, John found himself struggling financially. He had medical bills, rent, and daily living expenses to cover, but his case was still months away from resolution. After submitting an application on our website, LawsuitLoans.io was able to review John’s case and made a decision in under 24 hours. Thanks to LawsuitLoans.io, John was able to keep his head above water financially, all while his lawsuit was ongoing.
Pros and Cons of Pre-Settlement Funding in Auburn, Maine
Obtaining pre-settlement funding offers several benefits. Most importantly, it provides much-needed financial relief. When you are wrapped up in a legal case, you could potentially face a lot of unexpected expenses. Pre-settlement loans help you cover these costs.
Besides relief, these loans give you early access to your funds. You do not need to wait for your case to settle, which can sometimes take years. You can use this money in the meantime, helping you take care of medical bills, daily living expenses, and legal fees.
Another benefit is that you avoid the pressure of settling early. With money in hand, you have the freedom to pursue the best possible outcome in your case without worrying about immediate expenses.
Finally, lawsuit loans are non-recourse. This means you’re under no obligation to pay back the loan if you lose your case.
Though there are benefits, pre-settlement funding also comes with costs. For one, interest rates can be relatively high. This ultimately increases the total cost of the loan, which you will need to pay back once your case resolves.
Secondly, the industry is currently not very well regulated. While companies like LawsuitLoans.io strive for transparency and fair business practices, others may not. This means you could potentially face unclear terms and hidden fees.
Last, but not least, you will need a well-developed case. An attorney should be working on this case on a contingency basis, meaning they only get paid if you win or settle the lawsuit. If your case isn’t strong enough, getting a lawsuit loan could be challenging.
Get up to $500,000 with rates as low as 2.5% simple, monthly
Auburn Pre-Settlement Funding FAQs
As an Auburn resident, you may have several questions about pre-settlement funding. Here, we have answered some frequently asked questions to help you make an informed decision.
How much does it get a lawsuit loan cost?
The cost of a lawsuit loan varies based on multiple factors, including the amount of money you need and your case details. However, LawsuitLoans.io provides competitive rates to ensure you can afford the financial support you need while waiting for your case to settle.
Do I qualify for a lawsuit loan?
Qualification for a lawsuit loan relies on the strength of your case. If you have a strong legal claim that is likely to win or settle, you may qualify for a lawsuit loan from LawsuitLoans.io. Also, there’s no credit check required.
If I have bad credit, can I get pre-settlement funding in Maine?
Yes, even if you have bad credit, you can still qualify for pre-settlement funding in Maine. At LawsuitLoans.io, we evaluate applications based on your case’s merit, not your personal credit history.
Apply today and get funds as soon as the same day you apply!
Does LawsuitLoans.io Directly Fund Cases in Maine?
While LawsuitLoans.io operates as a direct funder in most states it services, we act as a broker and originate funding requests to a select group of partner funding companies in Maine.