7 Best Pre Settlement Loans Over $5,000 for Big Payouts

If you’re in the middle of a lawsuit and need cash, a pre-settlement loan might be the solution. These loans help you cover expenses while you wait for your case to settle. Here, we’ve listed the seven best options for pre-settlement loans over $5,000. These choices can help you get the funds you need without the stress.

Key Takeaways

• Pre-settlement loans can provide financial relief during a lawsuit.
• The loan amount you can get depends on the value of your case.
• Different lenders have different terms and interest rates.
• It’s essential to compare multiple lenders to find the best deal.
• Only borrow what you need to avoid high interest and fees.

1. Oasis Financial

Oasis Financial, located in Rosemont, Illinois, is a founding member of ARC Legal Funding. This membership is a significant trust factor for potential clients. Oasis Financial is unique in that it is the only lawsuit loan company authorized by Oklahoma state authorities to provide pre-settlement loans on workers’ compensation claims. They operate under a special Supervised Lender License, making them a reliable choice for those in need of financial assistance before their settlement.

• Location: Rosemont, Illinois
• Special License: Supervised Lender License in Oklahoma
• Unique Offering: Pre-settlement loans on workers’ compensation claims in Oklahoma

Oasis Financial is also involved in the pre-settlement FinTech sector, operating under the name CliqFund. This involvement showcases their commitment to innovation and technology in the legal funding industry.

2. LawCash

LawCash is a prominent player in the litigation finance industry and a founding member of the American Legal Financial Association (ALFA). Operating for over two decades, LawCash provides various funding options to meet different needs.

Types of Funding Offered

• Settled Case Funding: For cases that have already been settled.
• Surgical Funding: Covers medical expenses related to surgeries.
• Law Firm Financing: Financial support for law firms.
• Plaintiff Pre-Settlement Funding: Helps plaintiffs manage expenses while awaiting case resolution.

Key Features

• Experience: Over 20 years in the industry.
• Diverse Funding Options: Multiple types of funding to suit different needs.
• Reputable: Founding member of ALFA.

LawCash has been a profound force in the lawsuit funding industry, continually innovating to meet client needs.

Additional Services

LawCash is part of Cartiga, which also includes Legal Wizard, a platform for attorney referrals and lead generation. This expansion aims to help law firms grow and market themselves more effectively.

Leadership

Founded by Harvey R. Hirschfeld, who also established Esquire Financial Holdings Inc. LawCash continues to grow under his leadership, leveraging investment platforms like YieldStreet.

3. Pre-Settlement Funding

Pre-Settlement Funding is a crucial option for plaintiffs who need financial support while waiting for their case to settle. This type of funding, also known as litigation finance, has grown significantly over the past decade and is now a major industry. It provides a lifeline for many individuals who are struggling to make ends meet due to injuries or other issues related to their legal cases.

One of the key benefits of pre-settlement funding is that it is non-recourse, meaning you only repay the loan if you win your case. This can be a huge relief for those who are already under financial stress. However, it’s important to be aware of the terms and conditions, as some contracts can be complex and include hidden fees.

Key Features of Pre-Settlement Funding

• Non-recourse: You only repay if you win your case.
• Quick access to cash: Funds can be available in less than 24 hours.
• No credit checks: Approval is based on the merits of your case, not your credit score.
• Transparent terms: Look for companies that offer clear and straightforward contracts.

Pre-settlement funding can be a valuable resource, but it’s essential to understand the terms and conditions before committing. Always consult with your attorney to ensure it’s the right choice for your situation.

4. J.G. Wentworth

J.G. Wentworth is a well-known financial services company that offers a variety of solutions, including pre-settlement loans. They are recognized for their flexible terms and customer-centric approach.

5. Silver Dollar Financial

Silver Dollar Financial is a top choice for those seeking pre-settlement lawsuit funding. They offer cash advances to help you cover expenses while you wait for your legal case to settle. This type of funding is not actually a loan but a cash advance on an expected settlement or verdict in a pending legal case.

Key Features

• Fast Approval: Get approved quickly so you can access funds when you need them most.
• No Hidden Fees: Transparent terms with no surprise charges.
• Flexible Repayment: Pay back the advance only if you win your case.

Benefits

1. Immediate Financial Relief: Helps you manage bills and living expenses during your lawsuit.
2. Risk-Free: If you lose your case, you owe nothing.
3. No Credit Check: Approval is based on the merits of your case, not your credit score.

Silver Dollar Financial provides a lifeline for those in need of financial support during lengthy legal battles.

6. Fast Track Settlement

Fast Track Settlement is known for its quick approval process and transparent terms. They offer pre-settlement loans that can be a lifeline for plaintiffs awaiting their settlements.

Key Features

• Quick Approval: Get your funds in less than 24 hours.
• No Credit Checks: Your credit score won’t affect your eligibility.
• Non-Recourse Loans: If you lose your case, you owe nothing.

Benefits

• Immediate Financial Relief: Address urgent expenses like medical bills and rent.
• Transparent Terms: No hidden fees or complicated interest calculations.
• Flexible Funding Options: Tailor the loan to fit your specific needs.

Fast Track Settlement provides a necessary lifeline for those in need, ensuring you can stay afloat while awaiting your case resolution.

7. Global Financial

Global Financial is a top choice for those seeking pre-settlement loans over $5,000. They offer competitive rates and flexible terms, making it easier for clients to manage their finances during a lawsuit.

Key Features:

• Loan Amounts: Up to $100,000
• Approval Time: As fast as 24 hours
• Interest Rates: Competitive and transparent
• Repayment Terms: Flexible, tailored to your needs

Pros

• Quick approval process
• No hidden fees
• Flexible repayment options

Cons

• Interest rates can be high for some cases
• Not available in all states

Global Financial is great for a second chance for a car loan and pretty straightforward on payments.

If you’re in need of a pre-settlement loan, Global Financial is worth considering for its quick approval and flexible terms.

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Conclusion

Navigating the world of pre-settlement loans can be tricky, but finding the right lender can make a big difference. The best pre-settlement loans over $5,000 offer you the financial support you need while waiting for your case to settle. Remember, it’s important to choose a lender with fair rates and terms to avoid paying too much in the end. Always do your homework, compare different options, and pick a loan that fits your needs without putting you in a tough spot later. With the right loan, you can focus on your case and aim for the best possible outcome.

Frequently Asked Questions

What is the maximum amount I can get from a pre-settlement loan?

The most you can get depends on your case and the lender. Generally, the maximum amount is around $40,000, but some lenders might offer up to $2,000,000 if your case is worth a lot more.

What is the average amount approved for a pre-settlement loan?

Most pre-settlement loans range from $500 to $40,000. On average, borrowers get approved for amounts between $5,000 and $6,000.

Should I borrow the maximum amount approved for my case?

While it might be tempting to borrow the maximum amount, it can be risky. If you need more money later and your case hasn’t progressed, you might not be able to get another loan.

How can a lawsuit loan help me get a larger settlement?

A lawsuit loan can give you the financial support you need to wait for a better settlement. Without the pressure to settle quickly, you might get a higher offer from the defendant.

How many loans can I get from a settlement?

You can get multiple loans as long as your case supports them. However, each loan will have interest and fees, so it’s important to borrow wisely.

What factors determine how much money I can get?

Several factors affect the amount you can get, such as the severity of your injuries, insurance limits, and the overall value of your case.