Portland, 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 Portland, Maine?
A lawsuit loan, also known as pre-settlement funding, is a cash advance given to a plaintiff with an ongoing legal case. This type of loan is non-recourse, meaning if the plaintiff loses their case, they are not obligated to repay the funds. Mainly, lawsuit loans are advances on the future settlement or judgment a plaintiff may receive from their case. They provide a significant financial cushion while the plaintiff’s case runs its course in the court system.
Here at LawsuitLoans.io, we fund claims throughout the whole state of Maine. You can find more details on our main Maine Lawsuit Loans page.
Let’s take a hypothetical example of a plaintiff, ‘Martha’, who lives in Portland, Maine. Martha was involved in a car accident resulted in serious injuries. With mounting medical bills and her inability to work, Martha was under severe financial pressure. That’s where LawsuitLoans.io stepped in.
Martha applied for a lawsuit loan through our funding application. After review of her case, we approved her application and provided her with the funds she needed upfront. This loan helped her meet her financial needs while waiting for her case to resolve. As our cash advance is non-recourse, if Martha did not succeed in her case, she would not need to pay back the funds.
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
If you’re a plaintiff in a personal injury suit or other legal case in Maine, you may need funding while you wait for your case to resolve. That’s where LawsuitLoans.io comes in. We provide funds when you need them most. Below is a brief table of key financial details specific to LawsuitLoans.io’s operations in 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||68,408|
Get up to $500,000 with rates as low as 2.5% simple, monthly
Common Case Types We Fund in Portland
At LawsuitLoans.io, we serve a wide range of lawsuits with our pre-settlement funding. Here’s an overview of the most common cases we fund in Portland:
Auto and Other Roadway Accidents
These include any kind of accidents occurring on the road. It could be anything from motorcycle wrecks to truck or car crashes. If you’ve been injured due to a roadway accident, we provide funds you may need during your lawsuit.
Every property owner has a duty to ensure their premises are safe. If you are harmed because of a property owner’s negligent care, you can apply for our pre-settlement funding while you settle your claim.
Medical malpractice suits arise when a healthcare provider fails in providing the standard of care, leading to patient injury. These claims often require extensive litigation. We offer financial support before the settlement of such claims.
Labor Law Claims
Victims of illegal labor practices, like unpaid overtime or wage theft, can also seek our services to get monetary backing during their legal battle.
Wrongful termination, discrimination, or harassment at work are a few examples of employment claims we fund during the legal process.
Other Personal Injury Claims
These can involve any incidents causing physical or mental harm to an individual. No matter how unique your case may be, we offer pre-settlement funding to assist you financially.
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 Portland?
Getting a lawsuit loan in Portland is not as complicated as it may seem. It starts with checking if you meet the primary eligibility criteria. These criteria are simple and straightforward. Here they are:
- You should have a valid legal claim against a large public entity, an insurance company or a self-insured company. This claim could be from any field of law such as personal injury, employment law or civil rights.
- You should have an attorney – our company will need to get information about your case from your attorney.
- You must be at least 18 years old. Lawsuit loans are not available to individuals under the age of 18.
If you meet these criteria, then you have crossed the first hurdle towards getting a lawsuit loan from LawsuitLoans.io. Feel free to reach us via our toll-free number (866) 594-1343 or apply directly through our online application.
Apply today and get funds as soon as the same day you apply!
Our Portland Lawsuit Loan Process
Dealing with a lawsuit can be daunting and financially burdensome; lawsuit loans can help! These unique loans are designed to assist plaintiffs while they wait for their legal case to resolve. We’ve got a simple and straightforward process at LawsuitLoans.io to help get funds in your hands as swiftly as possible. Let’s take a closer look at our 5 main steps:
- Apply Online: The first step is quite easy and entirely online. By completing our funding application form on our website, you initiate the process.
- We Contact Your Law Firm: After receiving your application, we reach out to your law firm. This allows us to gather the necessary information about your ongoing case.
- We Review Your Case: Next, our experienced team of case managers meticulously reviews your case. They consider all the details and determine if you qualify for a lawsuit loan.
- You Sign a Contract: Once your case is approved, we send across an agreement. You, along with your attorney, carefully review this contract and sign it.
- You Get Funds: After the agreement is duly signed and returned, we transfer the funds. You can use this fund to meet any personal or legal expenses while awaiting the settlement of your lawsuit.
Let’s illustrate this process with a hypothetical scenario. Imagine that John, a construction worker, got injured at work and filed a lawsuit against his employer. His lawsuit is pending, and during this time, he is unable to work and is struggling financially.
John contacts us and fills out the online application form, providing all the necessary details. We, at LawsuitLoans.io, get in touch with John’s law firm, gather all pertinent information about his case, and begin our comprehensive review process. After a thorough review, we decide that John qualifies for a lawsuit loan.
We send a contract to John, and after he and his attorney review and sign the agreement, we wire the funds directly to John. Now, John can use this money to support himself and his family while he waits for his lawsuit to resolve.
The process is simple, clear, concise and customer-friendly. LawsuitLoans.io is here to support plaintiffs like John with ongoing legal cases.
How Much Money Can I Get From my Lawsuit Loan?
Lawsuit loans offered by LawsuitLoans.io can vary in size, ranging from as little as $500 up to more than $1,000,000. The amount we can provide is determined by the expected value of your settlement. If your case is still ongoing, we can offer an advance of up to 25% of your anticipated share of the settlement.
In cases where the legal matter has already been resolved, we are able to provide up to 50% of your expected share of the settlement. To better understand this process, let’s consider an illustrative example:
Imagine a plaintiff from Portland involved in a car accident lawsuit. The estimated value of the case is $100,000, however, it is not expected to settle anytime soon. The typical breakdown of the settlement would be as follows: medical providers receive around 1/3 of the settlement; the attorney responsible for the case gets another 1/3; this leaves approximately $35,000 for the plaintiff.
With LawsuitLoans.io, we could advance around 25% of the plaintiff’s portion, which in this case 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 Portland?
If you are a plaintiff with an ongoing case, you might have been questioning; how fast can I acquire a pre-settlement lawsuit loan in Portland? The answer is extremely fast! Once you submit a pre-settlement loan application to LawsuitLoans.io, the team reviews your case details rapidly. In fact, most applicants receive a decision regarding their lawsuit funding within 24 hours.
Imagine this scenario: You have personal injury or other legal claims and your court case is taking longer than expected. Yet, living costs and medical bills are accumulating. Having a pre-settlement funding solution like the one provided by LawsuitLoans.io could be your lifeline.
You complete the application and submit it today. By this time tomorrow, you could have an answer to your financial problems. The funds you need may be available faster than you imagined. That’s the speed and efficiency of LawsuitLoans.io.
Pros and Cons of Pre-Settlement Funding in Portland, Maine
Pre-settlement funding offers several benefits. It provides financial relief when you need it most. With early access to funds, you can pay bills, cover living expenses, and handle other costs while waiting for your case to resolve. It also helps avoid the pressure from insurance companies to settle your case early for less than it’s worth.
Plus, pre-settlement funding is non-recourse. This means that if you lose your case, you don’t have to pay back the loan.
On the flip side, pre-settlement funding has some potential downsides that you should be aware of. One is the relatively high interest rates. Even though pre-settlement funding is technically not a loan, it’s important to understand that the funding company is expecting a return on their investment from your lawsuit. Often, this return can be quite significant.
Another con is lack of regulation. While some states have laws governing lawsuit loans, many do not. That means the industry operates mostly unregulated or under-regulated, which can lead to potential abuses.
Lastly, keep in mind that pre-settlement funding requires a solid case and an attorney working on contingency basis. If your legal case weak or if you don’t an attorney, it can be more difficult to get funding.
Get up to $500,000 with rates as low as 2.5% simple, monthly
Portland Pre-Settlement Funding FAQs
We’ve gathered some of the most frequently asked questions regarding getting a lawsuit loan in Portland and throughout Maine. Find detailed answers to these common queries below.
How much does it cost to get a lawsuit loan?
The cost of a lawsuit loan can vary based on the details of your case, and the type of lawsuit you’re involved in. Our team at LawsuitLoans.io is always ready to provide a detailed breakdown of our pricing upon request. We strive for transparency and fairness in all our services.
Do I qualify for a lawsuit loan?
Qualification for a lawsuit loan mainly depends on the merits of your legal case. Unlike traditional loans, personal credit history is not a major factor. If you have a strong case and a lawyer, it’s likely that you can qualify for funding from us. Feel free to contact us at (866) 594-1343 for a more personalized evaluation.
If you have bad credit, can you get pre-settlement funding in Maine?
Yes, absolutely! Your credit history is not a decisive factor when you apply for pre-settlement funding at LawsuitLoans.io. As previously mentioned, we mainly concentrate on the details and strength of your case. Even if you have bad credit, don’t hesitate to apply for funding through our funding application.
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.