Legal Funding For Plaintiffs
TriMark Legal Funding has been one of America’s leading post-settlement funding companies since 2003. Our settled case funding has low, non-compounding rates and you can receive cash within 24 hours of approval.
Did your case settle, and now you’re just waiting to get paid? Post settlement funding can provide the cash you need to pay your bills and improve your financial situation immediately until your full settlement comes through.
Settled case funding is a special type of non-recourse lawsuit loan. Unlike other types of lending, it is a no-risk cash advance designed specifically for plaintiffs who have already settled their case.
There are no upfront or out-of-pocket costs, no hidden fees, and no credit or income checks. There are no monthly payments either. Pay the advance when your attorney starts to disburse the settlement funds out of their trust account.
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Post Settlement Funding
Even after cases are settled, it can often take weeks or even months to receive payment from the defendant’s insurance company. TriMark Legal Funding has been closing that gap for plaintiffs and attorneys since 2003 with our post settlement lawsuit funding.
If you’re a plaintiff, continue reading.
If you’re a lawyer and you’d like advance funding on attorney’s fees for one or more cases that you have already settled, TriMark can help you too.
My Case Has Settled; When Will I Be Paid?
Maybe you had your day in court and won a jury verdict, or the defendant agreed to settle your case before it ever went to trial. Either way, the battle is finally over. The other party decided there isn’t going to be an appeal. It’s time for you to pick up the pieces of your life and try to move on.
Now what? Well, enjoy the win. You and your family deserve a moment to breathe after going through an endless procession of motions and filings, depositions, demurrers, expert testimony, negotiations, and constant legal jockeying. Also, your attorney did not quit until he or she got you a fairer deal, so give them a pat on the back.
When the celebratory mood fades away, you’ll have to play the waiting game once more – but with greater resolve. Your settlement money will have to go through hoops to reach you. But the anticipation can overwrite the years of physical and emotional injuries, financial challenges, and adjustments at work that you had to put up with.
Now you can think about your plans clearer and act on them faster. Now is also a good time to apply for a post-settlement cash advance, which can help you take concrete steps toward starting over. The money you’re owed goes into your hands without further delays, mitigating the risk of late payments set in motion by the insurance industry.
Your lawyer does not have to fall prey to these tricks, too. He or she can benefit from an advance and infuse funds into continuing his or her practice. Details about our post settlement funding for attorneys is available on our law firm funding page.
The Waiting Game
Multiple factors converge in the final step of your lawsuit or complaint, most of which you cannot control. So a piece of good advice for anyone waiting for their compensation or settlement money to arrive is: “Don’t hold your breath.”
Ranging from several weeks to five or six months, the waiting period before your first payout depends on the type of case you have, the number of plaintiffs, the size of the settlement, and the terms of the settlement.
These variables can quicken or slow down the release of your settlement funds:
First, when you decide to settle, you’ll be asked to sign a release of all claims form to specify that you won’t pursue any claims associated with your accident, injury, or another grievance. Usually, the defendant or the defendant’s insurer will hold on to your check until you submit this document.
Review the details of your form before turning it over. Make sure it contains the correct settlement amount.
You’ve probably heard of the delaying tactics in check releasing done by defendants and insurance companies. The clock starts ticking once the insurance companies have received your release form. Depending on your state, the defendant will have to release your settlement funds before the deadline. Otherwise, they risk paying interest.
But some providers will postpone entering the form into their system, so the deadline gets moved to a more favorable date for them.
Once the insurance firm releases your check, it will be deposited to your attorney’s trust or escrow account. Your lawyer will wait for the check to clear before disbursing the funds to you. And when the funds finally become available, you’re likely to receive periodic payments instead of a one-time cash payout.
A good settlement should be able to meet and promote your needs and those of the other party. If it is beneficial to both sides, the defendant may find it easier to comply. In such cases, the responsible party may not want the case to go to trial, making an offer the claimant cannot refuse.
Case Settlement Statistics in the U.S.
It’s not all doom and gloom. Despite the slowpoke nature of the settlement process, there’s a bright side to it. In some cases, both parties even prefer it over litigation.
- Settlement can be seen as a way to define plaintiff success and as a resolution when litigation continues but no final judgment is reached.
- According to the National Labor Relations Board, more than 90% of meritorious unfair labor practice cases reach a settlement, either through the board or private agreement.
- A Cornell University Law School study showed that, among 3,300 federal cases in the Eastern District of Pennsylvania (EDPA) and the Northern District of Georgia (NDGA), the highest settlement rate was 87.2% for tort cases in the EDPA and the lowest was 27.3% for constitutional tort cases in the NDGA.
- A study of 2,054 cases in New York that went to trial from 2002 to 2005 found that a majority of cases settle from 80 to 92% in estimates.
- Filing a personal injury claim makes you a part of an ongoing settlement process. That is, the majority of cases settle, leaving only 2% going to trial. Don’t take this as advice to validate your fears. If you’re afraid of what could happen if your case goes to trial, consult your lawyer and weigh the pros and cons based on facts.
How to Apply for Post-settlement Lawsuit Loans
The process takes about 48 to 72 hours to complete. To ensure you are eligible to receive post-settlement funding, you need to have an attorney representing your case and a settlement offer in place or settlement checks on the way.
You’ll see faster results if you gather and submit all of the requirements in one go. Before applying, prepare the following information and documentation:
- A letter from your attorney specifying your settlement amount;
- The amount of funding you’re requesting;
- A copy of the demand letter your attorney sent to the defendant’s attorney or insurance company;
- A copy of the release of all claims form you signed; and
- The number of your attorney so we can discuss the details of your claim with him or her.
What Cases Qualify for a Post Settlement Cash Advance?
You have a higher chance of getting approved for post-settlement funding if your claim falls under any of these categories:
- Automotive accidents
- Defective drugs
- Defective medical devices
- Employment-related litigation
- Medical malpractice
- Personal injury (Note: Post-settlement loans for this case are not supported in some states)
- Product liability
- Workplace accidents
Cases We Fund
TriMark can consider funding on nearly any type of lawsuit with clear liability against a sufficiently insured defendant. We proudly feature some of the most attractive rates in the industry.
A Non-Recourse Legal Funding Option
Post settlement lawsuit loans are structured as a non-recourse option. Meaning, you don’t have to worry about monthly repayments. There is no personal responsibility on your end if the payout fails to push through. You only pay the advance of capital when your settlement funds become available.
Legal financiers treat the granted amount to you as the only collateral. Thus, you won’t be required to provide credit, income, employment information. These are not necessary for our assessment of your application. We need the documents and details related to your settled case instead.
Post settlement financing is a fast, risk-free, and affordable way to cash out your check. You can receive your advance within 24 hours of application – an antidote to the insurance firm-friendly settlement payout process that can test any plaintiff’s patience.