FAQ
While they are sometimes referred to as “lawsuit loans” or “settlement loans”, pre-settlement advances through DEGLO, LLC are not “loans.” They are considered a non-recourse advance; you only pay the money back if you settle or win your case at arbitration, trial, or another ADR proceeding. You do not have to repay the money if you lose.
If you don’t win your case, you won’t have to pay back a single cent.
Most cases we fund are car accident loans and other personal injury loans, but we consider all case types on an individual basis. Whatever case type you might have, pre-settlement lawsuit loans from DEGLO, LLC can help you pay the bills during your lawsuit.
The qualifications for applying for legal funding can vary depending on where you are in the United States. For example, there are limits on how much you can receive in some states, while other states do not allow legal funding.
In Florida, however, there are no laws in place that ban or even strictly regulate these financing instruments. Since Florida allows pre-settlement funding, it’s easy to qualify and apply for lawsuit funding. To be eligible for lawsuit loan funding in Florida, you only need to meet the following requirements:
- Your injuries must be due to an accident caused by someone else.
- You must have an injury claim filed in civil court.
- You must be living in Florida or have a pending personal injury case in Florida.
- Your lawyer must approve of your legal funding. If your lawyer doesn’t want to use third-party legal funding for your case, we, unfortunately, won’t be able to help you.
The types of accidents covered by pre-settlement legal funding vary from state to state. Other than Florida, there are many states that allow legal funding. The following are types of cases that qualify for legal financing through our office here in Florida:
- Car accidents – car accident loans
- Personal injury
- Jones Act
- Defective medical devices
- Medical malpractice
- Wrongful death
If your specific case isn’t listed, you may still be able to receive pre-settlement legal funding from us. We cover nearly every type of personal injury case.
Florida is a “no-fault” state. Under the system, victims injured in a car accident may turn to their own insurer to make injury claims regardless of who caused the accident.
However, this no-fault system does not bar you from filing a personal injury lawsuit as well, also learn more: legal funding for class action lawsuit. For example, if your damages totaled more than what you recover through your personal injury protection (PIP) insurance, you can sue the at-fault party for additional compensation.
Also, Florida uses the “pure comparative fault” principle. The rule allows you to recover damages, even if you were partially at fault for your injuries. It is worth noting, though, that your total compensation will be reduced by the same percentage as your degree of liability.
Applying for a pre-settlement loan in Florida is quick and easy. The application form on our website is easy to fill out, and we’ll be in contact with you after you submit it. You will need to provide us with the following pieces of information:
- Your name
- Phone number
- Case type
- Contact information for your lawyer
No, we do not charge any kind of interest on your legal funding in Florida. Instead, we charge a one-time flat rate fee for our funding services. Regardless of how long your case takes to settle, the fee’s amount will not change. You will know how much the fee is when you receive the lawsuit loan agreement.
In contrast, traditional lawsuit loans often charge compound interest on funding which can end up being expensive. The longer your case goes on, the greater the amount of interest adds to your total amount you are required to pay. This can be unfair because, it is often the defendant who tries to drag out the case longer, which can be costly with traditional lawsuit loans.
Yes, you can apply for pre-settlement funding more than once in Florida. If you have run out of the money you received from your initial legal funding, you may be eligible for more money.The maximum amount of legal funding you can get is 20% of your estimated compensation.If you have not taken the full 20% yet, you may be able to get more funding.
Our specialists will review your case to determine if you’re approved or not. There are a few factors that will impact the amount of additional funding you can receive. Factors that influence the amount of funding you may receive include:
- Percent of legal funding you have already received
- Total estimated loss of wages
- Severity of your injuries
- Likelihood of full recovery
- Punitive damages and state limits on them
If you are approved for pre-settlement funding, you can expect to see your funds in your bank account or receive a check within 24 to 48 hours. In order to receive your legal funding you and your lawyer must complete the paperwork for the lawsuit loan agreement.
The paperwork states the amount of legal funding you’ll receive, the one-time flat rate fee, and the loan’s repayment terms. There a couple ways you and your lawyer can sign the paperwork. You can use electronic signatures or print out hard copies, sign them, and send the paperwork back to us.
A settlement can take months or even years to resolve. The defendant often takes advantage of this, drawing out your case, especially if they expect to be found liable. You could face mounting financial pressure to accept less money than you deserve during this time.
The good news is you can beat these stall tactics with pre-settlement funding in Florida. Pre-settlement funding is a cash advance on the potential value of your settlement. You could get the money from your settlement upfront to cover bills and other expenses, giving you the financial strength to fight for your maximum award.
Unlike a traditional loan, the IRS classifies legal funding as non-recourse debt, which carries no repayment obligation. Any repayment will come from your settlement, not your personal finances. That means you’ll only pay it back if you win your case, and if you lose, you owe nothing.
Low income, insufficient financial history, and poor credit scores — any of these factors could prevent you from borrowing money through traditional sources like a bank loan or a traditional lawsuit loan. That’s because a spotty personal financial statement is an indication that you may have trouble repaying the loan in the future.
However, legal funding is not a loan, and you do not repay the financing company directly. Instead, they recover their funds through your attorney, who will take the money from your settlement or court-ordered award.
You are never personally liable for the funds you receive, so the strength of your credit is not a factor. We will not ask you for bank statements or proof of income, which keeps the approval process fast and straightforward. Plus, we don’t perform hard inquiries with the credit bureaus or take any action that could impact your credit score.
If you or someone you know is trying to apply for legal funding in Florida, contact High Rise Financial to schedule a one-on-one consultation. Our legal funding specialists will be available to discuss your unique situation and explore your alternative options for a lawsuit loan.
We will send you cash as soon as your application for a pre-settlement loan is approved. Learn more about Florida legal funding and find out today if you qualify.
Before qualifying for New York legal funds, you need to have a lawsuit filed. It’s best not to wait too long to file your claim. In New York, the personal injury statute of limitations gives a claimant up to three years from the date the accident occurred to file an action against the at-fault party.
If you file your claim after this time, even if the defending party was clearly responsible for your damages, it’s unlikely that a court will hear your case. To obtain the maximum benefits, you should file your claim within 30 days of the accident.
New York is a “no-fault” state, which means the injured victims in a traffic collision will turn to their insurer to make injury claims, regardless of who was at fault. As a result, insurance companies often cover lost income, medical bills, and any medications you may need.
New York also uses the “pure comparative negligence” principle. Under the rule, an accident victim in New York will be allowed to seek financial compensation even if they were 99% responsible for the crash. However, the total damages will be reduced by their fault percentage. So if your damages end up being $25,000 and you were 30% responsible for the accident, you would receive $17,500.
In order to qualify for pre-settlement funding in New York, the following conditions must apply to your case:
- You must have an injury claim.
- You must have suffered an injury due to a traffic collision.
- You must be a New York resident or have a pending lawsuit in the state.
Personal injuries happen in various ways, and each type of case can take a long time to resolve. There’s no certain type of lawsuit that will give you a better chance of getting funding. We offer pre-settlement funding for a wide variety of cases, including:
- Car, truck, and pedestrian accidents – learn more about car accident loans
- Medical malpractice
- Defective devices
- Nursing home negligence
- Workplace injuries
- Construction accidents
- Dog attacks
- Jones Act violations
We make getting your pre-settlement funding easy and stress-free. You can apply on our website or call one of our specialists to start the process. We have specialists who speak English and Spanish. Then, our specialists will connect with your attorney to determine your chances of winning the lawsuit and the amount of damages you’re likely to recover.
After that, you and your attorney will sign an agreement, and you will get your cash advance. With our quick and easy process, our pre-settlement funds are the ideal lawsuit loan for you.
If you’re waiting on a settlement, it could be months or even years until you see the money from it. Unfortunately, defendants often try to drag out the settlement process for as long as possible in the hopes that the plaintiff will accept a lower amount of compensation. Since many plaintiffs suffered a loss of income due to the actions of the defendant, these pressure tactics often work.
Plaintiffs who have a strong case are especially vulnerable and usually can’t hold out against a defendant with deep pockets. Pre-settlement legal funding allows plaintiffs with strong cases to get their settlement money now instead of waiting.
Lawsuit loans may be able to provide you with up to 20% of your expected settlement within 48 hours or less, depending on your case’s approval. By having a portion of your settlement, you can feel confident in your case and pay any necessary bills.
Your pre-settlement funding portion may range from 10 to 20% depending on the following factors:
- Strength of evidence and chances of winning compensation
- How much the defendant can pay
- Your total economic loss (lost income, medical and medication costs)
- Non-economic damages like emotional trauma, pain, and suffering
Our lawsuit loans can help pay bills and monthly expenses, such as food, healthcare, car payments, and other needs. There are no restrictions on what you can spend it on, so the money is yours to spend as you need.
Our pre-settlement funding in New York is risk-free. It can offer you the immediate legal funding you need while pursuing your injury claims or lawsuit. Even if you lose your lawsuit, you don’t need to pay back our pre-settlement loans.
If you or a family member needs a lawsuit loan in New York, contact High Rise Financial to schedule a one-on-one consultation. Our trusted lawsuit funding experts will be available to speak with you and help you understand your NY legal funding options. In addition, we can provide you with risk-free pre-settlement funding while pursuing your injury claims.
Although commonly referred to as a “lawsuit loan,” legal funding is not a loan. You are not borrowing money from us. Instead, you are gaining early access to the compensation you expect to receive for your injuries.
Also, unlike traditional bank loans or lines of credit, our legal funding is non-recourse, which removes your risk and limits our ability to seek repayment. If you lose your lawsuit and fail to receive compensation from the defendant, you don’t have to pay us back.