Ohio Lawsuit Loans

What are Lawsuit Loans in Ohio?

Presettlement lawsuit loans in Ohio 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 owe nothing. These loans are often used to cover living expenses or medical bills while awaiting the lawsuit’s resolution. They are not technically loans, but rather a form of non-recourse funding, as repayment is contingent on the lawsuit’s outcome. Ohio law permits such funding, but it’s crucial to understand the terms before proceeding.

Average Loan Amount by LawsuitLoans.io	$4,254
Largest Loan Amount by LawsuitLoans.io	$33,350
Average Rate Per 6 Months	20.6%
Median Personal Injury Verdict in Ohio	$13,000
Statute of Limitations	2 Years; Title 23 Ch. 5 Section 2305.10
Fault Laws	Applies “Modified Comparative Fault with 51% Bar,” preventing a plaintiff from recovering if they are 51% or more at fault.

Am I eligible for a lawsuit loan in Ohio?

Eligibility for a lawsuit loan in Ohio depends on several factors. First, 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. Second, you must have a lawyer representing you in your case. Most lawsuit loan companies will not work with individuals who are representing themselves. Finally, the lawsuit loan company will evaluate 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. However, it’s important to note that lawsuit loans can be expensive and should be considered carefully.

You may be eligible for pre-settlement funding in Ohio 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 Ohio.
• 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 Ohio 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 Ohio Lawsuit Loan Process

When you need financial support during your legal battle in Ohio, 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 Ohio:

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. From $500 to over $1,000,000, LawsuitLoans.io provides a diverse array of lawsuit loan options. Pre-settlement funding can extend up to 15% of your case’s value, with the potential for greater amounts in settled cases.

How can I use my lawsuit loan money in Ohio?

In Ohio, you can use your lawsuit loan money to cover any personal expenses. This can include rent or mortgage payments, medical bills, daily living expenses, legal fees, and even car payments. The money is yours to use as you see fit, with no restrictions.

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 Ohio

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 Ohio

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

• Columbus
• Cleveland
• Cincinnati
• Toledo
• Akron

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

Ohio Lawsuit Loan Regulations

In Ohio, lawsuit loans, also known as pre-settlement funding, are not regulated by specific state laws. However, they are generally governed by contract law and must adhere to the state’s usury laws. It’s recommended to consult with a legal professional to understand the terms and conditions before entering into such agreements.

Presettlement Funding FAQs

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

The cost of a lawsuit loan in Ohio 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 Ohio, a person who has a pending lawsuit or a settled case and is represented by an attorney can qualify for a lawsuit loan.

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

The size of a lawsuit loan you can get in Ohio largely depends on the specifics of your case, including the potential settlement amount, but it can range from a few hundred dollars to over a million dollars.