Springfield, MA Lawsuit Loans
- Get Cash as Soon as the Same Business Day
- Rates as Low as 2.5% Simple, Monthly
- Repay $0 if You Lose Your Case
What Are Lawsuit Loans in Springfield, Massachusetts
A lawsuit loan is a form of pre-settlement funding that provides financial help to plaintiffs involved in legal cases. For those enduring long litigation processes, these loans offer a lifeline, especially if an injury has resulted in hefty medical bills or lost wages. Importantly, they take a non-recourse nature. This means you only pay back if you win your case.
At LawsuitLoans.io, we provide lawsuit loans to plaintiffs throughout Massachusetts. To find out more about the services we offer across the state, visit our main Massachusetts Lawsuit Loans page.
Let’s use Joan as an example, a resident of Springfield who was injured in a car accident. While waiting for her claim to be resolved, she struggled with mounting medical expenses and daily living costs. Joan saw lawsuit loans not as borrowing, but as an advance on the settlement she expected to receive. She learned that, unlike other forms of loans, if her case didn’t settle in her favor, she wouldn’t have to repay anything. After going through a simple application process, she received her funds and gained peace of mind to focus on her recovery, instead of worrying over bills.
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
In this section, we offer some key information about lawsuit loans in Massachusetts. These details are designed to help you understand more about how laws and averages in this state can impact your lawsuit loan.
| 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 | 155,929 |
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
Common Case Types We Fund in Springfield
At LawsuitLoans.io in Springfield, we mainly fund on a variety of common cases. Our aim is to provide financial support to plaintiffs during the legal process. Here some of the most familiar cases we work with:
- Auto and other roadway accidents: These are cases that involve accidents on highways, motorways, or other roads. They range from car, motorcycle, truck, pedestrian accidents, etc. As you wait for compensation from these accidents, we help you financially.
- Premises liability: The owner of a property has the responsibility of ensuring the safety of all those on their premises. Where this duty has been breached and results in an injury, a lawsuit can be filed. We provide funding for such kinds of claims.
- Medical malpractice: When healthcare professionals negligently cause damage or harm to their patients, they can be sued for medical malpractice. Such lawsuits can take time and we help bridge the financial gap during that period.
- Labor law claims: For violations related to labor laws involving unfair treatments, harassment, discrimination, wages, etc., we offer funding.
- Employment claims: These claims deal with issues like wrongful termination, violation of contract, discrimination at work, among other employments related issues. We provide finance during the lawsuit process.
- Other personal injury claims: Any litigation that arises when someone’s negligence leads to another person’s injury. As your case proceeds, we extend our financial support to you.
With LawsuitLoans.io, you have a reliable partner who stands with you through these legal processes. Visit our website LawsuitLoans.io or call us toll free at (800) 340-4973 to apply or for more information.
Get an Instant Quote
Input your requested funding amount and the time your case may take to settle here to see your potential savings and costs when you choose LawsuitLoans.io. While we sometimes offer rates as low as 2.5%, our calculator assumes a simple, non-compounding monthly rate of 3.3%. This calculator is for illustrative purposes only. Actual terms may differ. Please contact us for an instant, written quote for your request.
Advance Amount:
Months Until Settlement:
$2,900
Total Cost
Pay $2,900 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
$1,697
Your Savings
Save $1,428 compared to competitors on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
33%
Percent Savings
Save 33% 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 Springfield?
If you are involved in a legal case, you may wonder if you are eligible for a lawsuit loan. Eligibility for such loans often hinges on a few key criteria. Firstly, you must have a valid legal claim. This could be against an insurance company, a self-insured company or a large public entity. These types of entities typically have the financial resources to pay out claims.
The second criterion is legal representation. You must have an attorney who is handling your case. Having professional counsel ensures that your case is being properly managed and strengthens your credibility in the eyes of lenders.
Finally, you must be an adult, at least 18 years old, as minors cannot legally enter into contracts.
So, if you meet these criteria and are considering lawsuit loans, you might indeed be eligible.
Get Started
Apply today and get funds in as little as 24 hours!
Our Springfield Lawsuit Loan Process
Understanding how lawsuit loans work is crucial for anyone seeking financial assistance while awaiting a legal verdict. The process involves five main steps, which we’ll break down so you know just what to expect.
1. Apply Online
The first move is to make the application. This is done via our online form, found here. Filling out your personal details and providing information about your case sets the ball rolling towards getting your funds.
2. We Contact Your Law Firm
Once your application is submitted, we reach out to your law firm. We gather more information about your case. This contact is vital in us understanding the nature of your claim to establish its strength.
3. We Review Your Case
Our team then carefully analyzes the details of your case. We look at several factors like the potential compensation amount, the likelihood of winning the case, among other essential details. This review stage is crucial in determining the loan amount we can offer.
4. You Sign a Contract
If your case meets our criteria, we’ll offer a funding agreement. The contract contains all the details about the lawsuit loan, including repayment terms. Read through it carefully, and once you’re satisfied, sign to seal the deal.
5. You Get Funds
After the signing of the contract, the funds are disbursed to you. These funds will offer relief from financial worries allowing you to focus on your lawsuit.
How Much Money Can I Get From my Lawsuit Loan?
Lawsuit loans from LawsuitLoans.io can range from $500 – $1,000,000+. We are able to provide an advance of up to a maximum of 25% of your expected part of the settlement if your case is still in progress. If your case has reached a settlement, we can offer up to 50% of the estimated portion of the settlement that you’ll receive.
Take for instance a plaintiff based in Springfield who’s involved in a car accident case with an estimated value of $100,000. The case is still ongoing and expected to take some time before it settles. Typically, medical providers would get paid roughly 1/3 of the settlement, amounting to around $33,000. The attorney would also receive around 1/3 of the settlement. This leaves the plaintiff with an estimated $35,000 from the settlement. In such a case, we can advance approximately 25% of that amount, or $8,750.
Get $500 – $500,000 in as Little as a Single Business Day!
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 business day.
How quickly can I get a pre-settlement lawsuit loan in Springfield?
If you are a plaintiff with an active legal case waiting for your case to resolve, you may be wondering how quickly you can receive funding. It is important to note that pre-settlement lawsuit loans are made available by LawsuitLoans.io quickly and efficiently.
Once you have correctly filled out your application and submitted it to LawsuitLoans.io, the review process begins immediately. The company is committed to fast service, meaning your application gets reviewed promptly. Typically, a decision on your case is made within 24 hours after receiving the application. Yes, the process is that quick!
Let’s take Tom as an example. Tom had a personal injury claim in Springfield. He applied for a pre-settlement loan from LawsuitLoans.io. Tom filled out his application in the morning, and by the next day, he received a call confirming his approval. This is just one of the numerous examples of how quickly LawsuitLoans.io works to assist its clients.
It is essential to remember that the speed at which funds are disbursed after approval may vary due to individual bank procedures. However, rest assured knowing that LawsuitLoans.io does everything possible to ensure prompt disbursement of funds once your application is approved.
Pros and Cons of Pre-Settlement Funding in Springfield, Massachusetts
Pre-settlement funding can bring many benefits to plaintiffs who are waiting for their settlement. The main advantage is the financial relief it provides. Without this type of funding, many plaintiffs would be left with no choice but to accept an early, lower settlement as they struggle to cover their living expenses. Moreover, pre-settlement funding allows for early access to funds, breaking the time barrier that court processes often impose.
Another noteworthy benefit is the non-recourse nature of lawsuit loans. This means that if you lose your case, you do not have to pay back the loan. The risk involved lies entirely with the lender.
Despite the apparent benefits, it’s crucial to understand that pre-settlement funding also has its drawbacks. This industry is, in general, either unregulated or under-regulated. This oversight void often results in relatively high interest rates. As such, borrowers should be ready to face these interest rates when taking a lawsuit loan.
Furthermore, another con is that to qualify for a lawsuit loan, your case needs to be well developed and backed by a lawyer willing to work on a contingency basis. If these requirements aren’t fulfilled, you might not be eligible for pre-settlement funding.
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
Springfield Pre-Settlement Funding FAQs
In this section, we will answer some common questions that Springfield residents may have about pre-settlement funding. These queries might include the cost of legal financing, eligibility for a lawsuit loan, and the possibility of acquiring pre-settlement financing with bad credit.
How much does it cost to get a lawsuit loan?
The charges for a lawsuit loan can differ based on various elements. The total amount, the complexity of your case, and other factors are considered. Typically, costs are calculated as a percentage of your expected settlement. However, here at LawsuitLoans.io, our friendly staff is available around the clock to provide you with a precise quote tailored to your circumstances.
Do I qualify for a lawsuit loan?
To qualify for a lawsuit loan, you need to have a legitimate legal claim and must have a lawyer representing you. The team at LawsuitLoans.io evaluates each claim on its merits. We offer assistance to plaintiffs involved in personal injury cases, medical malpractice lawsuits, product liability claims, and more. Contact us via our toll-free number (800) 340-4973 or apply through our online form for a more specific assessment.
If you have bad credit, can you get pre-settlement funding in Massachusetts?
Yes, it is possible to receive pre-settlement funding with bad credit. At LawsuitLoans.io, we focus on the strength of your lawsuit rather than your credit profile. The worthiness of your case determines the likelihood of getting a loan, not your financial history.
Get Started
Apply today and get funds in as little as 24 hours!
Springfield, MA Cases we Fund
LawsuitLoans.io provides funding for various personal injury and roadway accident cases in Springfield. Read more about the personal injury cases we fund in Springfield here:
- Personal Injury Loans
- 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 Springfield here: