Get Your Legal Funding Faster
Already Applied? Have a Need For Speed? Do This.
If you need cash in a hurry, doing this one thing will speed things up dramatically.
1. Understand The Process
TriMark Legal Funding has a simple 3-step process that can be completed very quickly.
Step 1: Apply For Funding
- Complete an applicaiton online or call us at (877) 932-2628 and we’ll take your application over the phone
- After we receive your application, we will contact your attorney and/or send a document request to them by fax and email for case-related information.
Step 2: Case Review
- An underwriting attorney will review all the case information received, ask your attorney any additional questions (if necessary) and approve or deny the case for funding.
Step 3: Approval and Funding
2. Attorney Participation Is Critical
Your attorney plays an important part when it comes to legal funding. They send us case documents, interact with the underwriter, and must sign part of your funding agreement. And they are the ones who send repayment to the funding company after your case has settled.
Despite that, we found that over 92% of our unnecessarily delayed and denied lawsuit funding requests all had problems with the attorney information that was, or was not, provided by the applicant or information that was not conveyed to the attorney by the applicant.
3. First, Understand The Problem
More than 92% of all unnecessary delays and denials are caused by 2 things:
- Applicant provided incorrect or no name, phone number, fax number, or email address for their attorney
- Applicant never told their attorney they were having financial hardship or requested help from TriMark Legal Funding
Because both problems are caused by applicants, both can be prevented by applicants too.
4. Stop Problems BEFORE They Start
Having a simple, 2-minute conversation with your attorney or their assistant will eliminate 100% of the problems.
Have a pencil and paper when you call your attorney’s office and be ready to write.
Here’s exactly what to say to them:
- You are experiencing extreme financial hardship and you need money immediately.
- You know they are prohibited from lending money to clients, so you’re going to use TriMark Legal Funding to get a non-recourse cash advance.
- If they ask, TriMark has been in business since 2003 and our website is TLFLLC.com.
- Tell them TriMark will send them a document request by email, and to monitor their junk folder if they don’t get it, and whitelist our email when they do get it. Tell them we will also send it by fax just in case they miss the email.
- Tell them to expect a TriMark representative to contact them by phone, fax, and/or email shortly after you apply
- IMPORTANT: Thank them for their help, tell them you appreciate and respect their time and promise them you won’t waste any of it by applying to multiple funding companies
Here’s exactly what to ask them for:
- The first and last name of the attorney assigned to your case
- Their direct phone number
- Their direct email address
- Their fax number
- Ask if the attorney is the right person to send our document request to, or if we should send it to someone else
- Get that person’s name, phone number, and email address
- IMPORTANT: Ask them to please send TriMark all of the requested information as quickly as possible
(Be sure to read back all names, phone and fax numbers, and email addresses to double-check for spelling accuracy).
That’s it; you’re done.
5. Legal Funding Restrictions
For the most part, there are not a lot of restrictions or limitations on lawsuit funding in most parts of the country.
Depending on where you live and the type of case you have, here are some that you may need to be aware of:
There are a few states where legal funding is just flat-out not permitted. Those states are:
If you are a resident of any of these states, you are ineligible for lawsuit funding.
Minimum Funding Requirements
There are other states where minimum funding limits are in effect. This means that we cannot consider funding requests for any amount lower than the minimum threshold. Those states and their minimums are:
Case Type Limitations
As a result of the minimum funding limits, certain types of cases are not eligible for funding in Colorado, North Carolina, or South Carolina. Cases that are not eligible for legal funding in these states include:
Legal funding for worker’s compensation claims is only available on state workers comp; not federal.
Also, workers comp loans are currently only available in the following 13 states:
6. How Much Money Can You Get?
For funding purposes, we consider the status of all cases as either pending or settled.
- Pending: The time between retaining an attorney and signing a claim release
- Settled: After you signed a claim release and know the specific dollar amount of your settlement
On Pending Cases: We can fund up to 20% of the Anticipated Net Value of your case.
- Anticipated Net Value is calculated by subtracting attorney fees, case costs, medical liens, and all other known or estimated liens from our underwriter’s estimated gross settlement award amount.
On Settled Cases: We can fund up to 50% of the Actual Net Value of your case.
- Actual Net Value is calculated by your attorney. After signing the claim release, your attorney will issue a letter that details the gross settlement award, an itemized list of deductions (attorney fee, case costs, medical liens, etc.), and the net dollar amount you will receive.
7. What If You Have Prior Funding?
What Is Prior Funding?
Prior funding is any amount of legal funding you received on this case, prior to submitting your current application to us.
If you have prior funding on your case, one of two things will happen. We can either do a buyout and fund additional or, in some cases, it will disqualify you for additional funding.
A buyout means we must pay off the previous advance at the same time we do the new funding. The other company receives payment in full (no cash out of your pocket) when your new funding is disbursed to you and the payoff amount is simply added to your new funding agreement.
Buyouts are very common and we do them all the time. They require a couple of extra steps in the funding process, but as long as we know about it upfront, the buyout is seamless and doesn’t even require any additional processing time.
Why It Is Important To Let Us Know
There are two reasons why it’s important to let us know if you have previously received a cash advance on your case.
If you have had prior funding on certain types of cases, we may be unable to provide additional funding.
Some examples include:
- Soft Tissue Injury Cases
- Workers Comp Claims
- Some Mass Tort / MDL Cases
There are a number of exceptions to this rule, however, which is why it’s important to let us know about the prior funding upfront. Call us at (877) 932-2628 and we can tell you if your case will qualify for an exception.
If a lawsuit funding company has ever provided a cash advance on your lawsuit, a lien was recorded against your settlement.
A lien is a legal claim for payment. It reserves a specific dollar amount or a percentage that will be deducted from your gross settlement award. 40% for attorney fees or $32,450 for medical bills are common examples.
Liens have a hierarchy, or order, in which they are paid, and your attorney’s fees and case costs are first priority. Medical liens are usually next and legal funding liens come after that.
As explained in How Much Can You Get, outstanding liens impact the dollar amount we can advance on a case (up to 20% of anticipated net on pending cases and up to 50% of actual net on settled cases).
The bottom line is this: If you’ve had prior funding, be forthright and tell us about it upfront. If we can fund additional, we will. And if we can’t, there’s no point or benefit in wasting everyone’s time trying to conceal it.