Pre-Settlement Car Accident Loans

A: Pre-settlement loans on auto accidents are available in amounts from $1,000 up to $250,000+. Several factors affect the final approved amount of any funding request, including:

^{❇️ Extent, severity, and permanence of injuries
❇️ Accepted or contested liability
❇️ Case status: pending or settled
❇️ Total available insurance coverage}

A: We can process funding requests very, VERY quickly.

Under ideal circumstances, we have gone from initial intake to wire transfer disbursement in just under 2 hours. That is atypical, however.

Under most normal circumstances, processing, approval, and funding can typically occur within 12 to 48 hours (1 to 2 business days).

A number of factors are beyond our ability to control and affect processing speeds. These factors include but are not limited to, the receipt of accurate, complete information from applicants, attorney participation, attorney responsiveness, timeliness of document execution, and receipt of accurate bank account numbers, routing numbers, etc.

A: Short answer: We don’t have a ‘maximum’.

Long answer: Our “typical” car accident litigation funding amounts range from $1,000 up to $250,000+. But unlike other legal funding companies, TriMark does not have arbitrary, pre-set funding limits for high-value cases.

The maximum approval amount for any case is determined during our case evaluation. Factors that can affect our decision include:

^{❇️ Extent, severity, and permanence of injuries
❇️ Total available insurance coverage
❇️ Case status: pending or settled
❇️ Our underwriter’s case value estimate
❇️ Legitimate financial need of the requestor}

Like all funding requests, car accident settlement loans use our underwriter’s net settlement value estimate calculated against a maximum of 20% or 50% for pending or settled cases, respectively.

^{➡️ Pending cases: We can fund up to 20% of the estimated net settlement.
➡️ Settled cases We can fund up to 50% of the actual net settlement.}

That being said, any time a requestor’s legitimate financial need exceeds $250,000, the severity and permanence of injuries, total available insurance coverage, input from the attorney, and our underwriter’s case value estimate are all considerations that can be used to increase the maximum approved amount.

A: A one-size-fits-all car accident lawsuit funding rate that applies to every case, every time, simply does not exist.

Our litigation funding rates start as low as 2% per month non-compounding (simple interest) and increase from there as risk increases and case quality declines. Not every case will qualify for the 2% rate.

For the lowest, most accurate car accident loan rates, complete a brief application or give us a call at (877) 932-2628.

Car accident loan rates are a function of relative risk and market conditions. So our auto accident lawsuit loan rates will be a direct reflection of the relative risk inherent to any given case.

Funding rates are also impacted by certain market conditions, such as skyrocketing inflation and fluctuations in the prime rate.

There are a number of other factors that can affect legal funding rates too. Things like:

^{✳️ Is the case pending or settled?
✳️ Is liability accepted or being contested?
✳️ What state is the plaintiff and case located in?
✳️ How developed is the case?
✳️ How serious and permanent are the injuries?
✳️ How much total insurance coverage is available?
✳️ Is there any prior funding on the case?}

A: About the only types of injuries we cannot consider are when the incurred injuries are very minor (if that is the chief complaint). We also cannot consider any self-inflicted i.e., where the plaintiff’s negligence caused their own injuries.

The minimum level of fundable injury for soft tissue injuries that we can consider for car accident lawsuit funding is diagnosed bulging or herniated discs in the back or neck, torn muscles, tendons, or ligaments, torn meniscus, torn ACL, diagnosed traumatic brain injury, significant burn injuries, etc.

We cannot consider very minor injuries like scuffs, scrapes, abrasions, scratches, bleeding, road rash, bruising, rashes, hives, minor lacerations, pain, headaches, migraines, dizziness, swelling, pulled muscles, sprains, concussions, overextensions, chiropractic, physical therapy, injections, minor burns or blistering, etc.

A: Generally speaking, most plaintiffs are pre-qualified for a car accident loan if they can check these 3 boxes:

_{❇️ Been injured in an accident
❇️ Retained a contingent fee attorney
❇️ Filed a lawsuit or legal claim against a sufficiently-insured defendant}

Meeting those 3 requirements will qualify most injured plaintiffs for vehicle accident pre-settlement funding. That includes all types of vehicle collisions and virtually all types of significant injuries.

To see how much you could qualify for, complete an application or give us a call at (877) 932-2628.

A: Our car accident litigation funding rates start as low as 2% per month non-compounding (simple interest) and increase from there as risk increases and case quality declines. Not every case will qualify for the 2% rate.

To get the lowest car accident loan rates, complete our brief application or give us a call at (877) 932-2628.

A: Car accident litigation funding is a non-recourse, outcome-contingent cash advance against a small portion of the anticipated future value of a pending or settled auto accident lawsuit settlement.

Outcome-contingent means that repayment is not absolute; it depends on a certain outcome. In this case, the successful settlement of your personal injury lawsuit. That means if you lose or your case doesn’t settle, you don’t have to repay the cash advance.

A: TriMark Legal Funding was founded in 2003 and has been one of America’s foremost lawsuit loan companies ever since.

In addition to glowing Trustpilot and Google reviews, we are also A+ Rated by the Better Business Bureau.

A: Jennifer Marshall, an insurance industry ratings department director, in a July 12, 2021, Business Insurance article, confirmed that winning larger awards and settlements is precisely what litigation funding helps plaintiffs do.

Her words: “it [litigation funding] puts upward pressure on claims costs and drives increases in awards and settlements.”

That kind of says it all.
<sub>^{Source: Businessinsurance.com}

➡️ Does Litigation Funding Help Plaintiffs Win Bigger Settlements?</sub>

A: The approval and funding process for car accident settlement funding goes like this:

_{❇️ Apply online or call (877) 932-2628
❇️ We contact your attorney for case details
❇️ Our underwriter reviews your case and approves it
❇️ Funding agreement is sent to you and your attorney
❇️ Funds are sent via wire transfer, ACH, or FedEx Overnight}

We have approved and funded auto accident loans in as quickly as 2 hours. Our typical turnaround time with a responsive attorney is 12 to 24 hours or 1 business day.

A: Yes. At least minimally.

TriMark will request case details from your attorney and will work with them to determine if you qualify for car accident pre-settlement funding. And after you are approved, you and your attorney will both sign the funding agreement.

A: No. All non-recourse legal funding requires a plaintiff to be represented by a contingent fee attorney. If your case is new, you can find a lawyer near you, or you may also consider utilizing one or more of our alternative funding options, which do not require attorney representation.

A: No.

Car accident loans represent a small portion of the future anticipated settlement proceeds of your pending or settled litigation. As such, it is YOUR money and you are free to use it however you see fit.

Plus, no one knows your financial circumstances better than you. You can use the money to get caught up on past-due bills or pay monthly expenses like rent, co-pays, and medical expenses, car payments, insurance, groceries, prescriptions, utility bills or anything else you need.

A: No.

Car accident loans against a pending settlement are not the same as an extension of credit like a credit card or car loan from a bank. There are no credit checks and no monthly payment requirements either, so there is no credit bureau reporting or involvement ever.

This is also true in the event that you lose your case and don’t have to repay the cash advance.

As an added bonus, because taking a cash advance against your accident settlement isn’t reported to the credit bureaus, it won’t affect your eligibility for home loans, car loans, or other credit products in the future.

A: No. In fact, car accident lawsuit funding entails fewer risks and creates far less financial exposure than bank loans do.

Car accident lawsuit funding:

^{❇️ Good credit required? No
❇️ Is there a credit check? No
❇️ On-time monthly payments every month? No
❇️ Real estate collateral required? No
❇️ Co-signor required? No
❇️ Late payment penalties? No
❇️ Income verification? No
❇️ Employment requirements? No
❇️ Monthly credit bureau report? No
❇️ Is full repayment an absolute requirement? No}

Bank loans, on the other hand, are loaded with risks and potential exposure that can continue haunting you for up to seven years AFTER the loan has been repaid in full.

Bank loans:

^{❇️ Good credit required? Yes
❇️ Is there a credit check? Yes
❇️ On-time monthly payments every month? Yes
❇️ Real estate collateral required? Usually
❇️ Co-signor required? Sometimes
❇️ Late payment penalties? Yes
❇️ Income verification? Yes
❇️ Employment requirements? Yes
❇️ Monthly credit bureau report? Yes
❇️ Is full repayment an absolute requirement? Yes}

A: No, not at all.

When you get a pre-settlement cash advance on your auto accident case, your attorney will remain 100% in charge of all case management decisions, just like they are now. Nothing changes with the attorney/client relationship.

A: Generally speaking, yes you can, but it will depend on a couple of factors.

If TriMark has already given you a car accident cash advance and you need another, just give us a call.

We frequently approve the first advance for more than is requested. If that’s the case, the second advance can happen on the same day.

Otherwise, our underwriter will speak to your attorney to get an update on the progress of the case before approving an additional advance.

An exception is that we do not typically advance additional funds on cases where soft tissue injuries are the only, or most serious, injury.

A: Yes you can, but the first advance will need to be bought out and included in the new car accident lawsuit funding amount.

Some exceptions exist. We don’t do buyouts on workers comp settlement loans, on many types of mass tort funding, and on cases where soft tissue injuries are the only, or most serious, injury.

A: No one has a crystal ball, so it’s anyone’s guess how long it will take to settle your case.

TriMark takes steps to protect you from this eventuality, however, before you ever even sign your funding agreement.

First, TriMark offers some of the lowest and most competitive rates in the legal funding industry, backed by our Lowest Rate Guarantee.

And second, almost all of our rates are capped at either 2X or 3X for your safety. Many of our competitors do not offer this built-in safety feature.

Capped Rates; Your Safety Net
“Un-capped rates” means interest accrues unabated until the advance is repaid. If your case runs longer than expected, especially with compounding interest, it could easily consume most or even all of your settlement award, leaving you with nothing after your case is resolved.

“2X or 3X capped rates”, on the other hand, means once the cap is reached (two times (2X) or three times (3X) the funded amount) interest stops accruing. Regardless of how long after that point it takes to settle your case, you will never have to repay one penny more than the capped amount.

It normally takes about 2 to 2.5 years to reach the cap so it is a moot point if your case settles before then. But it can be a comfort knowing the “worst-case scenario” going in, and knowing that even if you reach that point, you and your settlement money are protected and you will still receive the lion’s share of your money if your case runs long.

A: As long as a person satisfies the 3 basic requirements of having received significant injuries, is represented by a contingent fee attorney, and has clear liability against a sufficiently insured defendant, TriMark can usually offer pre-settlement funding on it.

Cases with insufficient injuries or only mild soft tissue injuries are not fundable.