Lowell, Massachusetts Lawsuit Loans
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- Rates As Low As 2.5% Simple, Monthly
- Repay $0 If You Lose
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What Are Lawsuit Loans in Lowell, Massachusetts?
A lawsuit loan is a financial tool available to those who have filed a legal claim due to personal injury. In contrast to regular loans, lawsuit loans offer what we call ‘non-recourse advances’ on potential settlement money. Simply put, this means the loaned amount is solely based on the anticipated compensation from your lawsuit.
If your case doesn’t yield any compensation, you’re not obligated to repay the borrowed funds – that’s what makes it non-recourse. The amount of money you can borrow depends on our assessment of how much compensation your case may potentially win.
At LawsuitLoans.io, we’re proud to support clients across the state of Massachusetts. For more in-depth information about our services in your region, please visit our main Massachusetts Lawsuit Loans page.
To better explain how this process works, imagine Terry. Terry lives in Lowell, Massachusetts, and he’s involved in a car accident which wasn’t his fault. As a result of this accident, he suffers injuries that prevent him from working, leading to a loss of income. So, Terry decides to file a personal injury lawsuit. During the waiting period for his case to resolve, Terry applies for a lawsuit loan to help him financially. Once Terry’s application is approved, he receives the funds he needs to cover his living expenses until his case settles.
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 Massachusetts Lawsuit Loan Information
If you’ve recently filed a lawsuit in Massachusetts and need financial aid while you wait for your case to resolve, a loan from LawsuitLoans.io could be your solution. Below is an overview of our average loan amount, largest loan provided, semi-annual rate and other essential information related to lawsuit loans in Massachusetts. The table also includes information pertaining to the statute of limitations and no-fault laws applicable in the state.
|Average loan amount by LawsuitLoans.io in Massachusetts||$22,077.28|
|Largest loan by LawsuitLoans.io in Massachusetts||$134,795.00|
|Average semi-annual rate in Massachusetts||19.4%|
|Median personal injury verdict in Massachusetts||$31,000.00|
|Massachusetts statute of limitations||3 years; Mass. Ann. Laws Ch. 260 Section 1|
|Massachusetts fault laws||Massachusetts is a “no-fault” state, meaning your own insurance covers your losses regardless of who caused the accident.|
|Boston population, 2020||115,554|
Get up to $500,000 with rates as low as 2.5% simple, monthly
Common Case Types We Fund in Lowell
At LawsuitLoans.io, we primarily provide auto and other types of roadway accident claims, premises liability, medical malpractice, labor law claims, employment claims, and other personal injury claims.
Auto and Other Roadway Accidents
These are usually accidents that occur on roads and highways and involve vehicles. We provide funding to plaintiffs who are pursuing a lawsuit relating to these incidents.
This refers to any accident that happens on someone else’s property due to their carelessness or negligence. If you are injured on someone else’s property, our company can help you by providing the financial support you need until your lawsuit is resolved.
This deals most commonly with cases where a healthcare professional fails to provide the proper standard of care, leading to patient injure. Our goal is to financially assist patients so they can focus on getting justice.
Labor Law Claims
We also cater to work-related injuries or illnesses. This includes situations where workers’ rights have been violated and they are seeking legal recourse.
These are cases that arise out of disputes between employers and employees. If you have an employment claim, our financial assistance may be beneficial as you wait for your case to be settled.
Other Personal Injury Claims
Personal injury encompasses a wide range of accidents and injuries. No matter your situation, if you’re involved in a personal injury lawsuit, we are here to provide you with the necessary financial backing.
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 Lowell?
If you are considering a lawsuit loan, you may be wondering about the eligibility criteria. The main eligibility requirements are quite straightforward. You must have a valid legal claim against an insurance company, a self-insured company, or a large public entity. Additionally, you must have legal representation in the form of a personal injury attorney, and you must be at least 18 years old.
Lawsuit loans are not dependent on your credit score or employment status. They are based on the merit of your legal claim and your anticipated settlement.
Apply today and get funds as soon as the same day you apply!
Our Lowell Lawsuit Loan Process
Lawsuit loans are a unique tool that lets plaintiffs fund their lives while they wait for a legal case to end. Here at LawsuitLoans.io, we have a straightforward process in place to make this possible. There are five main steps to follow:
- Apply online: This is the first step, where you express your interest. Our simple online form makes it easy.
- We contact your law firm: Once we get your application, we reach out to your law firm to learn more about your legal case.
- We review your case: Bearing in mind the info from your law firm, we review your case carefully to decide on its merits.
- You sign a contract: If we agree with the strength of your case, we draft a contract for you to sign which outlines all loan terms.
- You get funds: Finally, when the contract is signed, we send you the funds. You now have the money you need while your legal case resolves.
To better understand how this process works, let’s consider a simple example. Assume Jane had a car accident and is now suing the other party involved. While awaiting the final verdict, she has no income but she needs funds now for everyday expenses. She applies online for a lawsuit loan here at LawsuitLoans.io. We then contact her law firm and review her case. Given that Jane has a strong case, we decide to provide her with a lawsuit loan. We draft a contract and after she signs it, we disburse the promised funds to her.
This example clearly shows how plaintiffs get lawsuit loans and also reveals the benefits that come with it. For more details about our process or to start your application, please visit our application page at: LawsuitLoans.io funding application.
How Much Money Can I Get From my Lawsuit Loan?
Lawsuit loans from LawsuitLoans.io can range from $500 – $1,000,000+. Depending on your case’s status, we can advance different portions of your expected settlement. If your case is still in progress, we can offer up to a maximum of 25% of your expected portion of the settlement.
If your case has already been settled, we are capable of offering up to 50% of your expected share from the settlement. These terms are quite flexible and depend greatly on the specifics of your case, as well as your individual needs.
Let’s consider a hypothetical scenario. For instance, there’s a plaintiff named Lowell who is involved in a car accident case. The estimated value of this case is about $100,000, but it’s still in progress and won’t settle for some time. Out of the settlement amount, medical providers will receive approximately 1/3 of the total settlement. Lowell’s attorney will get another 1/3 from the settlement amount. That leaves Lowell with an estimated amount of around $35,000.
In situations like this, LawsuitLoans.io could potentially advance around 25% of this expected portion to Lowell. This means, Lowell could receive as much as $8,250 while waiting for his case to reach its resolution.
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 Lowell?
Many people wonder how long it takes to get a pre-settlement lawsuit loan. At LawsuitLoans.io, we strive to make the process as quick and smooth as possible. Once plaintiffs submit their application for funding, our team begins the process of reviewing the case right away.
In most instances, LawsuitLoans.io is able to review your case and make a decision within just 24 hours. We understand that our clients are often dealing with difficult financial situations and we aim to provide relief as soon as possible.
Here’s an example: if a plaintiff in Lowell applies for a loan at noon on a Monday, it’s highly likely they’ll have an answer by midday Tuesday. If the case is approved, the funds can be made available shortly after. This swift response time underscores our commitment to meeting the needs of our customers swiftly and effectively.
Pros and Cons of Pre-Settlement Funding in Lowell, Massachusetts
Taking a closer look at pre-settlement funding, there are several benefits and costs that come with this type of financial assistance.
Benefits of Pre-Settlement Funding
The benefits of pre-settlement funding primarily revolve around financial relief. For plaintiffs waiting for their legal cases to settle, these funds can provide the necessary capital during this stressful time. This can free up much-needed cash for medical bills, living expenses, and more.
Another major advantage is the early access to funds. Instead of having to wait out the litigation process, which could take months or even years, plaintiffs receive their money quickly. This helps stave off any issues that arise due to lack of cash flow.
Additionally, pre-settlement funding helps to alleviate settlement pressure. With immediate funds at your disposal, it’s easier to refuse lowball settlement offers. This means you can fight for the compensation you truly deserve.
Lastly, lawsuit loans are non-recourse in nature. Simply put, if you lose your case, you don’t have to pay back the loan.
Costs Associated with Pre-Settlement Funding
Despite the benefits, it’s important to be mindful of some potential downturns. The costs or cons of pre-settlement funding mainly include high interest rates. Since these are not traditional loans, they can carry more significant rates than those offered by banks or credit unions.
Pre-settlement funding operates in a generally unregulated or under-regulated industry. This means there may be less protection for the consumer, making it crucial to work with a reputable company.
Finally, to be eligible for funding, there’s the requirement of having a well-developed case. Additionally, an attorney working on contingency-based representation is typically required. This limits the people who can apply for and receive pre-settlement funding.
Get up to $500,000 with rates as low as 2.5% simple, monthly
Lowell Pre-Settlement Funding FAQs
We often get several common questions about Lowell Pre-settlement funding. Here, we answer some of the frequently asked questions concerning lawsuit loans and pre-settlement funding:
How much does it cost to get a lawsuit loan?
The cost of a lawsuit loan depends on various factors like the amount you need, the nature of your case, and the expected timeline of your lawsuit. To get a precise estimate for your situation, we encourage you to apply via our LawsuitLoans.io funding application.
Do I qualify for a lawsuit loan?
Qualifying for a lawsuit loan generally depends on the strength of your case. If you have a personal injury claim or any other legal claim that is likely to result in a settlement or award, you could be eligible for a lawsuit loan. Always feel free to contact us on (866) 594-1343 to discuss your specific circumstances.
If you have bad credit, can you get pre-settlement funding in Massachusetts?
Yes, at LawsuitLoans.io, we believe that your credit history should not impact your access to justice. Thus, having bad credit won’t hinder you from getting pre-settlement funding with us. You can visit our website or call our toll-free number to explore your options.
Apply today and get funds as soon as the same day you apply!