Rhode Island Lawsuit Loans

What are Lawsuit Loans in Rhode Island?

Presettlement lawsuit loans in Rhode Island are cash advances given to plaintiffs involved in ongoing legal cases. These loans are not traditional loans, but rather a form of non-recourse funding. This means if the plaintiff loses their case, they are not obligated to repay the loan. They are designed to help individuals cover living expenses and legal fees while awaiting the resolution of their case. The amount of the loan is typically based on the expected settlement amount. These loans are legal and regulated in Rhode Island.

Average Loan Amount by LawsuitLoans.io	$2,005
Largest Loan Amount by LawsuitLoans.io	$8,340
Average Rate Per 6 Months	22.1%
Median Personal Injury Verdict in Rhode Island	$20,906
Statute of Limitations	3 Years; Title 9 Ch. 1 Section 9-1-14
Fault Laws	Rhode Island 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 Rhode Island?

Eligibility for a lawsuit loan in Rhode Island 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 to determine if you are a good candidate for a loan. It’s important to note that laws and regulations regarding lawsuit loans can vary, so it’s always a good idea to consult with a legal professional in Rhode Island to understand your options.

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

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

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 provides lawsuit loans ranging from $500 to $1,000,000+ to suit various needs. Pre-settlement advances of up to 15% of your case’s value are available, with the potential for higher advances in settled cases.

How can I use my lawsuit loan money in Rhode Island?

In Rhode Island, you can use your lawsuit loan money to cover any personal expenses. This includes rent or mortgage payments, medical bills, daily living expenses, and legal fees. The money can also be used to pay off debts or for any other financial needs you may have while waiting for your lawsuit to settle.

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 Rhode Island

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 Rhode Island

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

• Providence
• Warwick
• Cranston
• Pawtucket
• East Providence

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

Rhode Island Lawsuit Loan Regulations

Rhode Island does not have specific regulations for lawsuit loans. However, lawsuit loan companies must comply with general lending and usury laws. It’s recommended to consult with a legal advisor before entering into a lawsuit loan agreement to understand potential risks and obligations.

Presettlement Funding FAQs

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

The cost of a lawsuit loan in Rhode Island can vary greatly depending on the specifics of the case and the lending company, but generally, interest rates can range from 2% to 4% per month.

2. Who qualifies for lawsuit loans?

In Rhode Island, a person who has filed a lawsuit and is represented by an attorney qualifies for a lawsuit loan. The lawsuit must be either pending or settled, and the loan is typically based on the expected settlement or judgment.

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

The size of a lawsuit loan you can get in Rhode Island depends on the specifics of your case, including the estimated settlement amount, but it can range from $500 to $500,000.