New Mexico Lawsuit Loans

What are Lawsuit Loans in New Mexico?

Presettlement lawsuit loans in New Mexico are financial agreements where a lending company provides a cash advance to a plaintiff involved in a pending lawsuit. The loan is repaid from the settlement or judgment award. If the plaintiff loses the case, they typically do not have to repay the loan. These loans can help plaintiffs in New Mexico manage their living expenses while awaiting the resolution of their legal case.

Average Loan Amount by LawsuitLoans.io	$14,710
Largest Loan Amount by LawsuitLoans.io	$14,710
Average Rate Per 6 Months	17.5%
Median Personal Injury Verdict in New Mexico	$31,000
Statute of Limitations	3 Years; N.M. Stat. Ann. § 37-1-1
Fault Laws	New Mexico follows the “Pure Comparative Fault” rule, allowing a plaintiff to recover damages proportionate to their degree of fault.

Am I eligible for a lawsuit loan in New Mexico?

Eligibility for a lawsuit loan in New Mexico depends on several factors. Firstly, you must be involved in a pending lawsuit or legal claim. This could be a personal injury case, a workers’ compensation claim, or any other type of lawsuit where you expect to receive a settlement or award. Secondly, you must have a lawyer or law firm representing you in your case. Most lawsuit loan companies will not provide funding to individuals who are representing themselves. Lastly, the company will assess the strength of your case and your potential settlement amount. If they believe your case is strong and you are likely to win or settle, you may be eligible for a lawsuit loan. It’s important to consult with your attorney before pursuing a lawsuit loan.

You may be eligible for pre-settlement funding in New Mexico if you meet the following requirements:

• You must have a claim against someone for personal injuries, workplace accidents, employment claims, or mass tort litigation in New Mexico.
• You have an attorney representing you.
• Your attorney filed a lawsuit to pursue the claim.
• You anticipate a settlement in your favor for monetary damages.
• The person being sued has insurance coverage to pay your claim.

Most Common Case Funded: Auto or Roadway Accident

Other types of cases funded in New Mexico encompass a range of scenarios:

• Auto accidents, including injuries to pedestrians and bicycle riders.
• Workplace accidents, including construction accidents and claims by injured railroad workers under the Federal Employers’ Liability Act (FELA).
• Premises liability claims, such as slip-and-fall accidents or other mishaps caused by the failure of owners to maintain their property.
• Accidents caused by defective products.
• Medical malpractice claims.
• Mass tort claims and other types of class action lawsuits.
• Employment cases, including construction accidents and wrongful termination, and discrimination.

Our New Mexico Lawsuit Loan Process

When you need financial support during your legal battle in New Mexico, Lawsuit Loans is here for you. Our process is designed to be effortless, allowing you to focus on your case. Here’s how lawsuit loans work in New Mexico:

1. Apply Online or Call Us

Kickstart the process by applying online or calling our toll-free number at (866) 594-1343. It only takes minutes to submit your application.

2. Fast Case Review

Our team promptly contacts your law firm to gather essential case details. Rest assured, we aim to complete the review in just a few hours.

3. Rapid Funding

Once your case is approved, you and your attorney sign the funding contract, and you receive the cash you need within hours.

How much money can I get from my lawsuit loan?

Experience the flexible and tailored funding solutions offered by LawsuitLoans.io. As a premier provider of pre-settlement funding, we empower plaintiffs with a diverse range of options to address their financial needs during the litigation process. Our seamless process prioritizes your peace of mind, ensuring that your legal journey is supported every step of the way. LawsuitLoans.io offers a wide funding range, starting from $500 and extending beyond $1,000,000. Our pre-settlement advances can reach a maximum of 15% of your case’s value. Larger sums are possible for settled cases.

How can I use my lawsuit loan money in New Mexico?

In New Mexico, you can use your lawsuit loan money for any personal needs. This includes paying for medical bills, mortgage or rent, car payments, groceries, and other living expenses. It can also be used to cover legal fees associated with your lawsuit. However, it’s recommended to use the funds wisely as you’ll need to repay the loan once your lawsuit is settled.

Why Choose Our Lawsuit Loans: 

• Financial Flexibility: Access funds ranging from $500 to over $1,000,000 to cater to your specific needs.
• Personal Expenses: Cover medical bills, living costs, or even make substantial purchases that were otherwise unattainable.
• No Case-Related Expenses: Funds cannot be used for legal fees or case-related expenses.
• Tailored Support: Lawsuit Loans offers strategic advances of up to 15% of your case’s value for pre-settlement situations and up to 50% for settled cases.
• Apply with Ease: Our straightforward application process puts the funds you need within reach.

Pros and Cons of Presettlement Funding in New Mexico

Pros:

1. Financial Relief: Pre-settlement funding provides much-needed financial support during legal proceedings, helping cover expenses when income is affected by personal injuries.
2. Early Access to Funds: You can receive upfront cash to address immediate bills and living expenses before your personal injury case settles.
3. Avoiding Early Settlement Pressure: With litigation funding, you have the time to pursue a larger settlement without feeling compelled to settle early for a lower amount.
4. Non-Recourse Nature: Pre-settlement loans are non-recourse, meaning you won’t have to repay the loan if you do not win your case, offering peace of mind during the legal process.

Cons:

1. Higher Interest Rates: Pre-settlement funding comes with a higher interest rate than most loans. This is because you do not have to pay back the loan if you lose your case.
2. Legal Consultation Required: Consult with your lawyer before proceeding with the funding application.
3. Additional Paperwork: Complete a preliminary application with basic contact and case information. No application fee or credit check is involved.

Major Cities We Fund in New Mexico

Apply now to get the financial support you need in these major cities.

• Albuquerque
• Las Cruces
• Rio Rancho
• Santa Fe
• Roswell

If your city is not listed, reach out to our LawsuitLoans.io team to discuss your case.

New Mexico Lawsuit Loan Regulations

In New Mexico, lawsuit loans, also known as pre-settlement funding, are not regulated by specific state laws. This means companies can set their own terms and conditions, including interest rates. However, they are still subject to general lending and usury laws. It’s crucial for borrowers to thoroughly understand the terms before accepting a lawsuit loan.

Presettlement Funding FAQs

1. How much does it cost to get a lawsuit loan?

The cost of a lawsuit loan in New Mexico can vary greatly depending on the specifics of the case and the lending company, but interest rates can range from 2% to 4% monthly.

2. Who qualifies for lawsuit loans?

In New Mexico, a person who has filed a lawsuit and is represented by an attorney can qualify for a lawsuit loan. The lawsuit must also have a reasonable chance of success.

3. How big of a lawsuit loan can I get?

The size of a lawsuit loan you can get in New Mexico largely depends on the specifics of your case, including the potential settlement amount. It’s best to consult with a lawsuit loan company for an accurate estimate.