FAQ: Frequently Asked Questions
TriMark Legal Funding LLC, The Settlement Funding Company, has been one of America’s leading providers of non-recourse lawsuit cash advances since 2003, and if there’s two things we know for sure, it’s that people who are thinking about getting a lawsuit advance 1). have a lot of questions and 2). want honest information and straight answers. The last thing they need is a bunch of double-talk, hype, BS or pushy, high-pressure salespeople.
So we took our time on this page to dig in and answer, as thoroughly as we possibly could, about 20+ of the most frequently asked questions we get every day, so start at the top and enjoy. If you still have questions after you’re done reading it, just call us at 1 (877) 932-2628 and let’s talk.
1). Isn’t “Lawsuit Funding” really just another name for a loan?
First things first; a “non-recourse lawsuit cash advance” is NOT a loan. It never has been a loan and it never will be a loan.
A loan, which is typically issued based on good credit, verifiable income and solid employment history, has a specific term (usually defined in months), requires timely, pre-determined monthly payments and is a debt obligation for which the borrower is legally obligated to repay in strict accordance with the terms of the loan agreement (typically a promissory note secured with collateral such as real estate via a recorded security instrument like a mortgage or deed of trust). Repayment is an absolute requirement regardless of hardship or circumstance and failure to repay a loan in accordance with the terms of the loan agreement will result in forfeiture of the collateral placed as security.
A non-recourse lawsuit cash advance on the other hand, is NOT based on credit score, income verification or employment history, is NOT secured by any collateral other than the latent value of your pending lawsuit, does NOT have a specific term, does NOT require monthly payments and repayment is NOT absolute. Instead, repayment is contingent upon a successful recovery and is made from the proceeds of your settlement if, and only if, the outcome of your case is successful. Try doing that with a bank loan!
In other words, it is no-win / no-pay. If you do not win your case, you DO NOT repay the advance. It’s as simple as that.
2). If it’s not a loan, why do you keep calling it that on this website?
This website caters to people who are searching for the legal funding services we offer. We rely on search engines to deliver those people. People search by entering tens of thousands of different keyword search queries into the search engines. In order for them to find us, we have to use the terms they are actually searching with.
People are oblivious to the legal definitions and inaccuracies of the search terms they use. Most people who are looking for the services we offer use search terms such as ‘lawsuit loans’, ‘settlement loans’, ‘legal loans’, ‘attorney loans’, “litigation loans’ and ‘structured settlement loans’ just to name a few.
In other words, those are just a few the search terms people use when they are trying to find us.
To appear in search results and deliver what search engines refer to as “relevant content”, this website must use and integrate those terms, and many others just like them, throughout our content. We must describe the services we offer in such a way that search engines will consider it “user-focused, relevant content”.
What can we say? It’s Google’s world; we just live in it.
3). Am I, or is my case, eligible for funding?
The fastest ways to find out would be to visit our eligibility checker, complete an application or just call us at 1 (877) 932-2628 and we can discuss it. Barring any of those, here’s the next-shortest answer:
A). You have been injured as a result of someone else’s negligence, or you’ve been injured by a defective product, drug or medical device, or you’ve had an accident at work and have filed either a workers comp claim, a Jones Act claim or a FELA railroad injury claim, or you have any other type of case that is listed on our comprehensive lit of eligible cases….
B). You have strong liability against a sufficiently insured defendant and…
C). You are represented by a contingent-fee attorney…
…then there is a good chance that you may be eligible for some type of settlement funding on your case.
TriMark Legal Funding LLC offers law cash on hundreds of different types of litigation during virtually all phases of the case. We can even help after your case is over if you’re thinking about selling part of your structured settlements.
It’s all just speculation until we can get some documentation from your attorney and actually evaluate your case. It is free to apply and there is no obligation. If you go ahead and apply now, we will let you know how much your case qualifies for – usually within 24 hours.
4). Can I and my attorney benefit from this?
Lawsuit Funding and You
It’s time to face the facts; insurance companies are NOT your friend. To them, you are their sworn enemy; an enemy bent on looting their coffers.
Insurance companies do not offer to fix your vehicle, pay for your surgery or offer you a quick settlement within days of your injuries because they’re on your side or out of some higher calling to “do the right thing”.
To the contrary; they’re motivated by a different purpose. It’s called loss mitigation, also known as damage control.
Their purpose is to protect their bottom line by paying you the least amount of money as possible, as quickly as possible, in exchange for you signing a release that will absolve them from ALL future financial responsibility forever.
Now that you have hired a lawyer, you probably noticed something interesting has happened. The insurance company that was so friendly, cooperative and in such a hurry to wrap things up in those first few days has now completely changed gears. They’ve gone from moving quickly to moving at a snail’s pace, stalling, delaying, postponing, dragging their feet at every opportunity to drag things out for as long as humanly possible.
This too is quite intentional; it is loss mitigation and damage control all over again. Why? Because it works, that’s why.
Many plaintiffs are forced to accept less than the full value that their case is potentially worth, simply because they are neck-deep in financial hardships that started as a result of the accident or incident they were involved in and those hardships have been compounded because maybe they’re unable to work, expenses have gone up, or both, and because it’s taken so long for their case to settle. Insurance companies know that the longer they can delay and the more they can drag things out, the more likely many plaintiffs will be to simply throw in the towel and settle for whatever they can get at present.
Delay tactics are simple, easy, low-cost strategies that defense attorneys use all the time in a variety of forms because they are devastatingly effective. Even by conservative estimates, delay tactics probably save the insurance industry at large tens or even hundreds of Billions of dollars each year. That’s BILLIONS with a capital ‘B’.
To the insurance industry, using their deep pockets and an arsenal of delay tactics to outlast, manipulate and coerce financially strapped plaintiffs into settling early for less than full value is just par for the course; it’s how business is done. To them, THAT is a level playing field – with them firmly in control and calling all the shots. And it’s a playing field they have dominated for decades. Lawsuit advance funding can change all that by helping you to UNLEVEL the playing field and tilt it dramatically in your favor so that seriously injured plaintiffs no longer have to succumb to financial pressure.
Lawsuit lending could give you the financial breathing room you need to pay your bills and meet your financial responsibilities until your settlement is finalized. It can also give your attorney the extra time they need to fully develop your case to its maximum potential so that you get full value for your injuries.
Lawsuit Funding and Your Attorney
Remember, your contingent fee attorney gets paid a set percentage of your recovery – usually around 30% to 40% of your recovery. In addition to easing the stress of your current financial situation, legal financing can also translate into a larger payday for your attorney. Having extra time and flexibility to negotiate a larger, more lucrative settlement translates into much larger fees.
5). Is it expensive?
Compared to what? Honestly, it’s really a matter of perspective.
Non-recourse lawsuit funding should be considered “financing of last resort”. It is available to people who have been turned down by the entire banking and financial industries because of bad credit, no job, no income, no real estate collateral and no way of making any monthly payments. Best of all, it is non-recourse, which means if the case tanks or doesn’t settle, they are under no obligation to repay the money.
Since the investors who put up the money for this type of funding are shouldering, literally, 100% of the risk, it is reasonable to expect that it will be significantly more costly than conventional secured financing where the borrower assumes the lion’s share of the risk.
Yeah, but is it expensive? Again, expensive, compared to what?
Is it expensive compared to borrowing money from friends and/or family:
Probably, but it depends on the terms under which they are willing to loan you the money you need.
IF you have friends or family willing to loan you money interest-free and then wait patiently until your settlement comes thru, AND you can live with whatever stipulations they hang on the loan, AND you can deal with the ramifications of having a bank/borrower relationship with your family, then by all means do that. Just be sure to hammer out the details of what happens if/when your settlement falls thru and how you will repay the loan if that happens.
Is it expensive compared to a conventional loan at your neighborhood bank:
Yes it is. Of course, if you actually had the good credit and unencumbered real estate that a bank would require as collateral, you wouldn’t be here in the first place.
Almost all of the clients we’ve served over the last decade+ had bad credit, maxed out credit cards, no unencumbered real estate for collateral, had borrowed every dime they could and couldn’t get a bank loan to save their lives. Maybe you can relate to that, and if you can, we can help. If you can qualify for a low-cost bank loan and have the collateral and a reliable way to make the monthly payments then by all means you should do that.
Is it expensive compared to liquidating assets such as savings, IRA, 401K, etc.:
This one you’ll want to discuss with your financial planner.
There can be some long-term and tax ramifications that you’ll need to think about. It may or may not be more expensive depending on the asset you’re liquidating, the penalties you’ll have to incur and any sort of repayment requirements you’ll have to agree to such as monthly payments. Again, if you have assets that you can liquidate, if the fees aren’t too oppressive and if you have the means to make the monthly payments to stay out of default then you should do that.
Is it expensive compared to taking a cash advance on your credit card:
Probably not but it’s going to depend on the card, how much you can get and if that will actually solve your problem, not to mention the rate and fees you will be charged. Credit card cash advances are notoriously expensive, with many charging upwards of 29% with daily and monthly compounding periods. Also, if you go this route you will need to have a way to make the monthly payments that will be required in order to pay the advance back and not let the balance get out of hand and negatively affect your credit.
Is it expensive compared to …
Watching helplessly while the bank forecloses on your family’s home and evicts you and you become homeless because you were injured due to someone else’s negligence and now you can’t work or you lost your job and couldn’t pay the mortgage, or
– Being evicted from your apartment and living in your car because you couldn’t pay the rent, or
– Having your car repossessed because you couldn’t keep up with the payments, or
– Having to skip, miss or postpone important medical treatments because you couldn’t afford the co-pay, or
– Having your gas, water and electric turned off because you had no money to pay the bills, or
– Having to explain to your kids they need to stop being hungry because you have no money to buy food
Since 2003, TriMark Legal Funding LLC has helped tens of thousands of clients in these exact situations (and hundreds more just like them) who have told us and would tell you that compared to the alternative – the fear, anger, desperation, frustration, hopelessness and humiliation of being evicted, living in their car, being unable to buy food or medicine, losing their home to foreclosure, losing their car or possessions, having their water, heat and electricity turned off or even becoming homeless – LAWSUIT FUNDING ISN’T EXPENSIVE AT ALL.
So “expensive” is based on your situation, your alternatives and the options you have available to you.
6). What kind of rates do you charge?
It depends on a number of factors. TriMark Legal Funding LLC offers funding on well over 350 different types of lawsuit, we simply do not have a one-size-fits-all rate that we charge for everything:
– Settled cases carry very little risk so the rates can be very low with compounding and non-compounding monthly rates.
– Pending cases are all over the place risk-wise and as such, our investors offer a wide variety of rates and terms from monthly compounding, quarterly compounding and bi-annual compounding to our lowest and most favored rate structure for pending serious injury or wrongful death cases; bi-annual non-compounding.
– We offer the lowest rate in the industry on workers comp loans.
– Cases on appeal carry a lot of unknowns because cases can be appealed multiple times, thus leaving a giant question mark for outcome and time to settlement. Rates for these types of cases reflect the higher risk accordingly.
Keep this in mind: There are companies that advertise 1/2% monthly on Google. Recognize these for what they are – bait and switch – and then avoid them like the plague. There is not a single investor in this entire industry who will actually fund a pending lawsuit at 1/2% per month – not one – and anyone who tells you otherwise is flat-out lying to you, so avoid them. Think about it; 1/2% x 12 months is ONLY 6% PER YEAR.
That definitely falls into the “if it sounds too good to be true, it probably is” category.
Don’t believe it? It’s easy enough to prove. Just ask them to guarantee in writing that you’ll get that rate BEFORE you do an application and then listen to the excuses fly. Then hang up and come back here.
The reality about rates is this: TriMark Legal Funding LLC has been offering some of the lowest and most competitive rates in the legal funding industry since 2003 and we put our money where our mouth is by backing all of our rates with our Best Deal Guarantee. That means you’ll get the best deal, period.
So stop calling around and getting quoted those speculative, ‘best case scenario’ never-gonna-happen rates and instead, take 2 minutes, complete an application and let us evaluate your case, get you the lowest rate possible and get you the cash you need in the next 24 to 48 hours. It’s as simple as that.
7). Can I still do this if I have bad credit?
Absolutely! Eligibility for a lawsuit settlement advance is based entirely on the merit of your case; not on your credit score.
Your credit is irrelevant so whether you have good credit, bad credit or no credit at all, it will not affect your eligibility for obtaining a lawsuit advance.
8). How much money can I receive?
We can advance anywhere from $500 to $500,000+ but it will depend on the specifics of your case, your injuries and how much money you actually need. Everyone is different and so is every case.
Approval amounts are determined by your needs and the particular facts and circumstances surrounding your case. When you apply, simply request the maximum amount of money you think you will need and then we’ll take it from there.
9). How do you decide how much money I can receive?
As any decent attorney will tell you, every case is different; even if they’re the same kind of case, every case is still very different; different insurance companies, different liability, different policy limits, different attorneys on both sides with different training, different backgrounds, different negotiation techniques, different levels of confidence, aggressiveness, experience and finesse, different claims adjustors, different motivations, different injuries, different medical expenses, different considerations, different everything.
So despite what your neighbor, your friend or your loudmouth brother-in-law told you they got for their settlement, yours is going to be different – for better or worse.
To determine how much we can fund, we will look at a variety of factors specific to YOUR case, a few of which include:
– How strong is the liability against the defendant?
– Is liability accepted, admitted or disputed?
– How many plaintiffs are there and how will the insurance proceeds be divided among them?
– How serious and permanent are your injuries and what are the medical and financial repercussions of them?
– How much are/were your medical bills? Are there going to be ongoing medical expenses?
– How much are your lost wages?
– Does the defendant have liability insurance? What are the policy limits?
– Is there more than one defendant?
– Do you have applicable insurance coverage that can be used?
– Are there any other liens already against your case?
– Are there any legal matters that could affect your settlement like an open bankruptcy or child support liens?
– What state did the accident happen in? What state do you live in?
Just request the most money you think you’ll need and then we’ll evaluate your case and see what we can do. If we can get you what you’re asking for, we will, and if not, we come as close as possible.
10). Is there anything I can do to improve my chance of getting approved?
Yes, be honest and tell the truth because the facts are what they are and they WILL come out during the underwriting process anyway.
Trying to conceal your open bankruptcy or that open child support lien or “forgetting” to mention that $5,000 cash advance you got on your case last month from another lawsuit funding company won’t help you get approved. In fact, quite the opposite. Lying and intentional deception on your part will cause lengthy delays and can even earn your application a one-way trip to the trash can.
11). Will you contact my attorney or do I have to?
We will contact your attorney’s office to gather the documents we need to evaluate your case. You need to make sure we have a good contact name and number, and the name of the paralegal or legal assistant assigned to your case. It’s a good idea to let them know you are working with TriMark Legal Funding LLC so they can expedite things when we contact them.
12). Can I get an advance if I already received one somewhere else?
Yes, you can frequently get another cash advance if you already received an advance from one or more lawsuit funding companies; in fact, it’s quite common.
It’s also very easy and there’s nothing for you to do except tell us about the first advance when you apply and we’ll take care of everything.
Similar to refinancing a home or car, we will do a “buyout” wherein we buy the cash advance from the other funding company, consolidate it into your new advance and then you can also receive additional legal funding later on at our low interest rates.
13). Do you fund workers comp settlements?
Yes, we fund workers compensation claims in many states. However, some states are NOT eligible for funding.
You can review this list of states eligible for workers comp loans eligible states for the most up-to-date info about where we offer cash advances on workers compensations settlements.
14). Are there any hidden, up-front fees or out-of-pocket costs?
Simple answer; NO.
Any fees will go on your contract at origination and your cash advance will accrue monthly charges, however you are not required to make any monthly payments because the advance and all charges will be repaid out of your settlement. You do not pay anything at all until you have received your settlement, and if you do not receive a settlement, you keep the money from the cash advance and owe us nothing!
15). Will my information be kept confidential?
TriMark Legal Funding LLC will only share your information with our underwriters and investors in order to facilitate your advance. All information is kept strictly confidential and is NOT shared with any other parties. All personal information provided by clients or their attorneys is kept confidential.
16). Does my attorney need to be involved for me to be approved?
Yes, your attorney WILL need to be involved.
If your attorney is unwilling to participate, or is unwilling to sign an acknowledgment of lien, you will be unable to get an advance on your case.
17). What type of cases do you offer funding on?
We offer funding on over 350+ different types of case; primarily personal injury lawsuit, employment lawsuit settlements, work injury and workers compensation settlements. We also offer funding for cases on eligibility/appeal, we buy structured settlement payments and we offer litigation funding for attorneys and law firms. For a more complete list, visit our eligible cases directory.
18). What does “non-recourse” mean?
It means that repayment of the advance is only required if you win your case or reach an out-of-court settlement. If your case does not result in a settlement, you owe us NOTHING.
There is no recourse against you or your attorney, which means we will not try to collect the money from you or your attorney. Once we advance cash it is yours to keep. This is the nature of non-recourse lawsuit loans.
19). What is the process and how long does it take to receive an advance?
Completing an application is the first step and it only takes a minute or two. Then we’ll contact your attorney and request some information about your case. Once received, we usually have a decision within 24 to 48 hours. You and your attorney will sign and return the funding agreement and we send you your money either by US Mail, FedEx overnight, direct deposit or wire transfer right into your bank account.
20). Do I need a lawyer to do this?
Yes, you must be represented by a contingent fee attorney who is willing to participate in the process.
Cases with non-contingent fee attorneys, pro se, pro bono and EEOC or government-assigned representation are not eligible for lawsuit funding.
21). Do all lawsuit funding companies charge the same rates?
Not even close.
TriMark Legal Funding LLC has been in the lawsuit funding industry since 2003. We are one of the oldest and most well-established lawsuit funding companies in the industry and because of that, we have established excellent, long-standing relationships with all of our investors. As a result, we are able to offer some of the lowest and most competitive rates in the business. And of course, all of our rates are backed by our Best Deal Guarantee.
22). Who will know I received a lawsuit advance?
The only ones who will know you took a lawsuit advance on your case are you, your attorney, TriMark Legal Funding LLC and its investor.