Maine Personal Injury Loans

What is a Personal Injury Lawsuit Loan and How Does it Work in Maine

A personal injury lawsuit loan, also known as pre-settlement funding, is money you borrow against the future compensation you expect to receive from a legal claim. It’s a useful financial tool for people who have been injured and can’t work or experiencing financial hardship while waiting for their case to resolve.

Let’s take an example of how it works in Maine. Imagine you’re a hardworking construction worker. One day, due to poor safety measures at your workplace, you suffer a back injury that needs costly surgery and months of physiotherapy. On top of that, you can’t work and have no income to cater to your daily life expenses. What do you do? You file a personal injury lawsuit against your employer. But legal cases take time, sometimes even years to settle which adds up to your financial stress.

That’s where a lawsuit loan steps in. Since it’s not always possible to wait for a settlement during tough financial times, a lawsuit loan or pre-settlement funding gives you the amount you need upfront. The lending company, like LawsuitLoans.io, assesses the strength of your case and the possible settlement amount. Based on that, they provide you with a part of your settlement upfront. So, you no longer need to worry about the bills until your case is resolved. If you win your case, the amount provided plus agreed upon fees is paid from the settlement. If you lose, you owe the lender nothing.

This is just one of many examples where lawsuit loans can come to a plaintiff’s rescue. Here in Maine, whether an accident at work, car accident or medical malpractice, if you’re in the middle of a personal injury lawsuit, and are facing financial stress, you can tap into the power of lawsuit loans. It’s easy to apply – just go to LawsuitLoans.io funding application or call toll-free at (800) 340-4973.

Maine Personal Injury Lawsuit Loan Information

If you are a resident of Maine and have a personal injury lawsuit in progress, LawsuitLoans.io can provide an advance on your future settlement. This funding can help manage your financial needs while you’re awaiting the resolution of your case. Understanding some key information about personal injury loans in Maine can be beneficial.

Am I Eligible For a Personal Injury Lawsuit Loan in Maine?

If you have a pending personal injury lawsuit in Maine and need financial help, you might wonder whether you are eligible for a lawsuit loan. Here is a short breakdown of the main eligibility criteria for getting a lawsuit loan.

First, to qualify for a lawsuit loan with LawsuitLoans.io, you should have a valid legal claim. This means that your case is ongoing and directed against an insurance company, a self-insured company, or a large public entity. In other words, you have a credible chance of winning damages.

Another requirement is having legal representation. Lawsuit funding companies need to work with your attorney to assess the merits of your case. Therefore, not having an attorney might affect your chances of getting a lawsuit loan.

The final condition is age. You must be at least 18 years old to apply for a personal injury lawsuit loan in Maine.

How Much Money Can I Get From my Personal Injury Lawsuit Loan?

Personal injury lawsuit loans from LawsuitLoans.io can range from $500 to over $1,000,000. The amount we can advance varies based on the status of your case.

If your case is still in progress, we can advance up to a maximum of 25% of your expected portion of the settlement. If your personal injury case has been settled, we could offer up to 50% of your expected portion of the settlement.

Let’s consider an example scenario. Suppose you’re a plaintiff from Maine pursuing a premises liability claim. Your case is estimated to have a value of $200,000. You are still undergoing treatment for your injuries and expect the case might take another year to resolve.

Usually, medical providers receive about one-third of the settlement, attorneys get another third, leaving roughly $65,000 for the plaintiff. Based on our policy, we can advance approximately 25% of that sum, which would be $16,250.

How Can I Use the Money From my Personal Injury Loan?

After receiving a personal injury loan from LawsuitLoans.io, you might be wondering how to best use these funds. It’s essential to know that the money can be used for various purposes while you wait for your case resolution.

Firstly, these funds are great for covering living expenses. With such a loan, daily costs like rent, groceries, utility bills, and transportation become less stressful. This financial aid can help ensure that you maintain a comfortable and stable lifestyle amidst the ongoing legal process.

Additionally, the obtained funds can also be channeled towards medical expenses related to your personal injury case. For instance, it helps cater for surgery costs, doctor appointments, medication, physical therapy, medical equipment, and even psychological counseling if needed. These loans provide a practical way to cover these immediate health-related needs.

However, it’s important to note that there’s one area where the funds received from LawsuitLoans.io should not be utilized – litigation or legal case expenses. The money must not be directly channeled towards hiring attorneys, the cost of filing fees, additional court charges or any other similar legal fees.

Instead, these costs are typically handled by your counsel on a contingency basis, implying that they will receive their pay from your awarded settlement or final judgement. Therefore, the funds from your personal injury loans should primarily focus on handling personal and medical costs incurred during the course of awaiting your case resolution.

Most Common Personal Injury Claims We Fund in Maine

At LawsuitLoans.io, we assist individuals with various types of personal injury claims. Below are some of the most common types of lawsuits we fund in Maine:

• Car Accidents: These are among the most common cases we finance. Injuries from car accidents can be severe and often result in significant costs.
• Commercial Vehicle Accidents: These accidents involve vehicles used for business purposes. The severity of injuries can vary widely.
• Any Other Roadway Accidents: This includes accidents involving motorcycles, pedestrians and bicycles, among others. Each has its own unique aspects and potential injuries.
• Premises Liability Claims: Instances where an injury occurs on someone else’s property due to the owner’s negligence fall under this category.
• Medical Malpractice: These cases involve harm caused to a patient due to the negligence or misconduct of a healthcare provider.
• Work Injuries: Cases include work-related accidents and illnesses that can occur on the job.
• Slip and Fall Claims: Instances where a person slips, trips or falls due to a hazardous condition.
• Dog Bite Lawsuits: These refer to incidents where a person gets injured as a result of a dog bite or attack.
• Wrongful Death Claims: Lawsuits filed when a person dies due to the legal fault of another individual or entity.
• Police Misconduct: Cases involve actions committed by police officers that infringe on a person’s constitutional rights.

We fund almost any personal injury claim, so please contact us if your case isn’t listed.

Our Personal Injury Loan Process

At LawsuitLoans.io, we are dedicated to helping plaintiffs get through a difficult time in their lives by providing them with the necessary funds. Our lawsuit loan process is simple and straightforward. Here’s a quick overview of the five main steps involved:

1. Apply online at LawsuitLoans.io funding application.
2. We contact your law firm to learn more about your case.
3. Our team reviews your case details and assesses its strength.
4. You sign a contract agreeing to repay the loan once your case is settled or won.
5. You receive your funds which can be used for living expenses, medical bills, and legal fees.

To give you a better understanding, let’s look at an example of a plaintiff with a personal injury claim going through this process:

John gets injured in a car accident due to another driver’s negligence. In order to cover his medical bills and maintain his lifestyle during his recovery period, John decides to apply for lawsuit funding. He visits LawsuitLoans.io and fills out the online application. Once the application is submitted, we contact John’s law firm for further details about the case. After understanding his situation, we decide to fund his case. In the next step, John signs a contract that states he will repay the loan when his case gets settled or won. Finally, John receives the much-needed funds to cover his expenses while he awaits his case resolution.

Why Choose LawsuitLoans.io for Pre-settlement and Post-settlement Injury Loans

There are several reasons why you should choose LawsuitLoans.io for your pre and post-settlement injury loans. We pride ourselves on providing the best service in the industry. Here’s what makes us stand out amongst the crowd:

• Low, Simple Rates: Our rates start from as low as 2.5% per month. This ensures that your loan is affordable.
• Fast Approval: At LawsuitLoans.io, we understand that your time is valuable. That’s why we offer fast approval times, often, on the same day you apply.
• Capped Repayment Terms: With us, you won’t have to worry about your interest accruing indefinitely. We cap our repayment terms, which means your interest stops accruing after a certain date.
• Transparency and Client-First Approach: We value transparency and always put our clients first. You’ll be fully informed about all aspects of your pre-settlement funding with no hidden fees or surprises.

Choose LawsuitLoans.io for pre and post-settlement injury loans for a simple, transparent, and fast experience.

Maine Pre-Settlement Funding FAQs

If you’re a Maine resident exploring the possibility of a lawsuit loan, you may have several questions about the process. Below, we tackle some of the most Frequently Asked Questions (FAQs) we encounter:

The cost of a personal injury advance can vary depending on a number of factors. Factors include the estimated value of your case, the length of time till resolution, and the interest rates of the funding company. We encourage contacting LawsuitLoans.io at (800) 340-4973 for specific information tailored to your case.

In general, if you’ve suffered a personal injury and have an ongoing legal claim, you may qualify for a lawsuit loan. The specifics, however, vary with each case and depend on the precise details of your situation. Get started with a funding application today to find out more.

This is a question only you can answer. For some plaintiffs, a lawsuit loan provides necessary financial support during a difficult time, allowing them to focus on their recovery and their case. Others may decide to explore other financing options. It’s important to weigh all your options and talk to a legal or financial advisor if you feel unsure.

Cities we Service in Maine

LawsuitLoans.io provides funding throughout Maine. See more about our funding in Maine by visiting the city pages below:

• Portland
• Lewiston
• Bangor
• South Portland
• Auburn

Other Cases we Fund in Maine

LawsuitLoans.io provides funding for various personal injury and roadway accident cases in Maine. Read more about the personal injury cases we fund in Maine here:

• Police Misconduct Lawsuit Loans
• Medical Malpractice Lawsuit Loans
• Slip and Fall Lawsuit Loans
• Premises Liability Loans
• Dog Bite Lawsuit Loans
• Wrongful Death Loans

Read more about the roadway accident claims we fund in Maine here:

• Car Accident Loans
• Rideshare Accident Loans
• Pedestrian Accident Loans
• Motorcycle Accident Loans
• Bike Accident Loans
• Semi Truck Accident Loans
• Commercial Vehicle Accident Loans
• Government Vehicle Accident Loans

Other States in Which we Fund Personal Injury Loans

LawsuitLoans.io provides personal injury loan funding for residents of many other states:

• Alabama
• Alaska
• Arizona
• California
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Iowa
• Louisiana
• Massachusetts
• Michigan
• Minnesota
• Mississippi
• Montana
• Nebraska
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Dakota
• Ohio
• Oregon
• Pennsylvania
• Rhode Island
• South Dakota
• Tennessee
• Texas
• Vermont
• Virginia
• Washington
• Wisconsin
• Wyoming

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.