What’s Up With Lawsuit Loan Amounts?
You might be wondering how lawsuit lending companies decide how much money to loan people who have filed lawsuits. Especially if you’ve filed your own lawsuit and need some cash to get by until you receive your settlement. It’s a fair question since lawsuit loans can make a huge difference in your ability to cover costs without struggling while your case drags on.
As someone who has run a lawsuit lending company for over 20 years, let me break it down for you…
First, What Type of Case Do You Have?
If you’ve been injured in a car wreck or due to a doctor’s negligence, you’ll likely qualify for more loan money. Why? Because those cases often result in fat rewards for plaintiffs like million dollar settlements. More potential payoff down the road equals ability to borrow more upfront.
On the other hand, wrongful termination or fraud cases generally yield lower rewards. So funding companies can only justify smaller loans under $30K.
Timing Matters Too
Lawsuits go through phases. At first no one knows how strong your evidence is or the value. Loans tend to be under $10K. Makes sense – why stick our necks out too far?
But if your case looks promising as the trial date nears, we can loosen the purse strings. Strong expert testimony or the defense waving a white flag by offering big bucks hints you’ll win. Five figure loans or more keep you going a bit longer until that sweet victory.
Location, Location, Location People!
You might get totally different results filing the same kinda case in different courthouses just miles apart. Counties and cities with histories of handing out giant checks are green lights for higher loans in similar disputes. No secrets here – jury awards set precedents that shape expectations.
On the flip side, small town courts viewed as tightwads when it comes to damages = we’ll be tightwads with the lending limits.
Show Me the Money! Er…Evidence!
The cold hard proof supporting your allegations also determines how much we can justify loaning. Lots of documentation blaming the defendant plus records verifying your troubles = cha-ching! We can shell out big time.
But questionable liability, contradicting eyewitnesses? That uncertainty means only modest sums with fingers crossed. Less likely rewards, less money advanced. What can I say, gotta run a business!
Sob Stories Sway Us Too
We do try to show some heart and understand plaintiffs’ troubles. If the dry well of income puts your home at risk, we may help cover the mortgage for a bit. Surgery you can’t afford but definitely need? We’ll spot a larger amount to take care of that. At some point it ain’t about dollars and cents but people’s well-being.
Reading The Tea Leaves
Figuring likely case outcomes is part science, part gut instinct. We crunch the details to predict verdict ranges. A seven figure estimate means opening our coffers for major cash. Smaller cases warrant modest sums.
Of course making those calls ain’t no slam dunk. But years of this work gives a sixth sense that steers us straight most days.
Choose Counsel Carefully
Who’s representing you matters too. Lawyers who consistently deliver wins with proven experience have instant cred to help clients get more lawsuit loan love. But newbies still cutting teeth? Too uncertain for us commit more skin in the game.
Hey Big Spender! Wanna Loan Me More?
When multiple lenders are bidding like crazy for your case, take advantage! Pit us against each other to negotiate for bigger loans and lower fees. Some cases bring serious heat that turns the tables in your favor if you play it right.
The Takeaway
There’s definitely method to the madness when it comes to deciding loan approvals and amounts. It primarily ties back to realistic case values based on history and circumstances. We run sound businesses after all. But we also show some heart when needed within reason.
So if you have a strong claim and work with reputable, experienced lenders like us, you can get fair funds to stay afloat. But we don’t pretend every case warrants blank check treatment. Ultimately the justice system determines what cases deserve big rewards or small change. We just connect those future dollars to present needs when we can.’
Let me know if a lawsuit loan could help you out or if you have more questions!
