Akron, Ohio 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 Akron, Ohio
A lawsuit loan is a type of pre-settlement funding that provides a financial lifeline to plaintiffs who are struggling with expenses while they wait for their legal case to resolve. Put simply, this is an advance on a future legal settlement. You might hear it referred to as a lawsuit cash advance or legal funding.
Here at LawsuitLoans.io, we offer these non-recourse advances to plaintiffs across Ohio who find themselves in need of immediate financial support. As the term ‘non-recourse’ suggests, you only repay the advance if you win your case. If you lose, you owe us nothing.
Visit our Ohio Lawsuit Loans page for more information about how we support plaintiffs throughout the state.
Let’s envision a scenario: Meet Joshua, an Akron, Ohio resident. Joshua was injured in a serious car accident. The mounting medical costs and his inability to work left him struggling to make ends meet. He sought legal action against the driver at fault but knew it would take time before his case resolves.
This is when he learned about LawsuitLoans.io. He applied for an advance on his anticipated personal injury settlement – a lawsuit loan. Joshua used the funds to cover his rent and medical bills until his case was resolved favorably. Without the pressure of his immediate financial crisis, Joshua was able to focus on his recovery and the successful resolution of his case.
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 Ohio Lawsuit Loan Information
Expected to wait for a lengthy period before your legal case resolves? Considering an Ohio lawsuit loan may provide you the financial buffer you need. Here’s some important data to consider:
|Average loan amount by LawsuitLoans.io in Ohio||$4,253.55|
|Largest loan by LawsuitLoans.io in Ohio||$33,350.00|
|Average semi-annual rate in Ohio||20.6%|
|Median personal injury verdict in Ohio||$13,000.00|
|Ohio statute of limitations||2 Years; Title 23 Ch. 5 Section 2305.10|
|Ohio fault laws||Ohio is an “at-fault” or “tort” state, meaning the driver found to be responsible for the accident is liable for damages.|
|Cincinnati population, 2020||190,469|
Get up to $500,000 with rates as low as 2.5% simple, monthly
Common Case Types We Fund in Akron
At LawsuitLoans.io, we provide pre-settlement funding for a variety of legal cases. Here are some of the most common case types we fund in Akron:
Auto and other Roadway Accidents
These are accidents involving any sort of vehicle on different roadways. These include cars, trucks, motorcycles, pedestrians and cyclists. If victims have had the misfortune of being in such an accident, we can help them with the needed funds while they wait for their legal case to be resolved.
This covers accidents that occur due to the negligence of property owners or managers. This includes slip and fall accidents, dog bites, or other injuries that happen due to poor property conditions. We provide financial assistance as the legal proceedings take place.
These involve cases where healthcare professionals cause injury or harm to patients through negligence or failure to uphold standard care. If someone has suffered from medical malpractice, we provide funding options as they seek justice.
Labor Law Claims
This category pertains to legal cases involving rights related to work and employment, including workers’ compensation claims. Being embroiled in such a case can be financially straining, that’s where we come in to ease the burden.
These cases involve disputes related to the workplace, including wrongful termination, discrimination, harassment, any form of inequality or being denied rightful benefits. While plaintiffs fight their case, we provide the necessary funding to cover any expenses.
Other Personal Injury Claims
Apart from aforementioned categories, any other personal injury claims are also eligible. Whether it’s toxic exposure, product liability or damages from accidents, we are here to provide help.
Remember, if you need financial assistance while your legal case is pending, feel free to apply for pre-settlement funding at LawsuitLoans.io.
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 Akron?
If you are involved in a legal dispute, you may be wondering if a lawsuit loan is an option for you. There are primarily three eligibility criteria that LawsuitLoans.io uses to determine if you’re eligible for a lawsuit loan.
- Having a valid legal claim: The first and most important criterion is having a legitimate legal claim. This claim can be against an insurance company, a self insured company, or a large public entity.
- Representation by an attorney: LawsuitLoans.io requires all applicants to have legal representation. This is because an attorney can greatly increase the chances of winning the case and getting the loan repaid.
- Being at least 18 years old: Finally, you must be of legal age – that is, 18 years or older. This is a standard requirement across the lending industry.
Fulfilling these criteria does not guarantee approval of your loan request but it paves the way for you to apply.
Apply today and get funds as soon as the same day you apply!
Our Akron Lawsuit Loan Process
Understanding how lawsuit loans work is the first step towards getting your hands on the funds you need. They exist to bridge the gap between when you file a lawsuit and when the settlement comes in. With LawsuitLoans.io, this process involves five main steps.
Step 1: Apply Online
The first step in the Akron Lawsuit Loan process is submitting your application online. Go to our LawsuitLoans.io funding application and fill out the required information. This generally includes details about your case and your attorney’s contact information.
Step 2: We Contact Your Law Firm
After you’ve submitted your application, we will reach out to your law firm. This helps us gather additional information about your case. Rest assured, all communication with your law firm is confidential and strictly for the purpose of assessing your eligibility for a lawsuit loan.
Step 3: We Review Your Case
Once we’ve obtained all necessary details about your case from your law firm, we start reviewing your application. This review process allows us to understand the prospects of your case and determine whether you would be able to repay the loan.
Step 4: You Sign a Contract
If the review yields positive results and we approve your application, we’ll send you a contract to sign. This agreement outlines the terms and conditions of the lawsuit loan.
Step 5: You Get Funds
As soon as you sign the contract and send it back to us, we will transfer the funds to you. This money can be used to cover your daily expenses and legal fees while you wait for your settlement.
For instance, consider John, a plaintiff in Akron who got injured at his workplace. He filed a lawsuit against his employer but was struggling financially while waiting for his settlement. John applied online for a lawsuit loan with us. We contacted his law firm, reviewed his case thoroughly, and deemed him eligible for a loan. Upon signing the contract, John received the funds within 48 hours.
How Much Money Can I Get From my Lawsuit Loan?
Lawsuit loans from LawsuitLoans.io can range from $500 – $1,000,000+. We can advance up to a maximum of 25% of your expected portion of the settlement if your case is still in progress. For settled cases, we can offer 50% of your expected portion of the settlement.
Let’s consider an example in which an Akron plaintiff is involved in a car accident case with a $100,000 estimated value. The case is still in progress and will not settle for some time. In such cases, medical providers typically get paid around 1/3 of the settlement, the attorney gets another 1/3 of the settlement, leaving the plaintiff with approximately $35,000. Based on our loan policy, we can advance around 25% of that amount which is $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 Akron?
When you are facing a legal battle, time is of the essence. You may not be able to work, and legal fees can quickly pile up. This is where a pre-settlement lawsuit loan can help. It offers a financial lifeline while you wait for your case to go to trial or reach a settlement agreement.
So, how fast can you get a pre-settlement lawsuit loan in Akron? With LawsuitLoans.io, the process is swift and straightforward. Once you submit your application via LawsuitLoans.io funding application, they review your case carefully. Within just 24 hours, they make a decision and get back to you.
Let’s look at an example. Say you’ve been involved in a car accident and decided to take legal action against the other party. You submit your application to LawsuitLoans.io, including all the details about your case. Their team reviews your application, assessing your chances of winning the case and the possible payout. If your loan request is approved, money could be in your bank account incredibly swiftly.
This speed is a big part of why so many plaintiffs in Akron choose LawsuitLoans.io when they need financial help while waiting for their case to resolve.
Pros and Cons of Pre-Settlement Funding in Akron, Ohio
Pre-settlement funding, also known as lawsuit loans, offers both advantages and disadvantages. These legal financing options can have a significant impact on the plaintiffs’ experiences while they wait for their lawsuits to resolve. In this section, we will explore some of the benefits and drawbacks associated with pre-settlement funding in Akron, Ohio.
Benefits of Pre-Settlement Funding
The main advantage of pre-settlement funding is the immediate financial relief it offers. When you’re in a lawsuit, you might find yourself in a tough financial spot due to mounting bills or lost income. A lawsuit loan from LawsuitLoans.io provides funds to tide you over in this period.
Another benefit is the early access to funds. Instead of waiting for your lawsuit to settle before you receive any money, pre-settlement funding gives you access to a portion of your expected settlement right away. This allows you to maintain your standard of living and meet your financial obligations while going through the tedious legal process.
Also, pre-settlement funding can relieve the pressure to settle your case prematurely. With immediate financial resources, you can better afford to wait for a fair and full settlement instead of accepting a low-ball offer out of desperation.
Finally, lawsuit loans carry the feature of being non-recourse in nature. This means that if you do not win your case, you are not required to repay the borrowed sum.
Drawbacks of Pre-Settlement Funding
On the less positive side, pre-settlement funding can come with relative high interest rates compared to other types of loans. This is often due to the risk involved in providing loans without any guarantee of repayment unless the plaintiff wins the case. It’s crucial to understand these costs before accepting a lawsuit loan.
Another potential disadvantage lies in the general lack of regulation or, at best, under-regulation of this industry. This means that certain providers can engage in practices that are not in the best interests of the plaintiffs.
The last notable drawback is that pre-settlement funding typically requires a well-developed case with an attorney working on a contingency basis. Those who do not have an attorney or whose cases are considered less likely to win might find it more challenging to qualify for a lawsuit loan from LawsuitLoans.io.
Get up to $500,000 with rates as low as 2.5% simple, monthly
Akron Pre-Settlement Funding FAQs
In this section, we will answer some frequently asked questions (FAQs) that Akron residents often ask about lawsuit loans and pre-settlement funding.
1. How much does it cost to get a lawsuit loan?
The cost of a lawsuit loan varies depending on numerous factors. These factors include the amount of money you request, your case’s details, and the estimated settlement duration. For an accurate cost, it’s advisable to use the LawsuitLoans.io funding application.
2. Do I qualify for a lawsuit loan?
Your eligibility for a lawsuit loan depends primarily on the merits of your case. If you have a strong case that is likely to result in a settlement in your favor, you stand a good chance of qualifying for a lawsuit loan from LawsuitLoans.io. For more information, feel free to reach us at (866) 594-1343, and we’ll help guide you through the process.
3. Can you get pre-settlement funding in Ohio if you have bad credit?
Yes! At LawsuitLoans.io, we understand that financial hardships can lead to a poor credit score. That’s why we base the approval of our pre-settlement funding mainly on the merits of your case, not your credit score. So even if you have bad credit, don’t hesitate to apply for a lawsuit loan in Ohio.
Apply today and get funds as soon as the same day you apply!