FAQ’s – Frequently Asked Questions
How do I know if I will I be eligible for an advance?
Most cases that involve injury caused by the negligence of a third party are covered by our plaintiff lawsuit settlement funding program. See our full list of cases we consider for a presettlement advance. You can be certain to get an accurate answer by submitting the application form on this page or by calling M4L directly at 1-888-747-8011 for an immediate response.Is a non-recourse Lawsuit Advance considered a Loan?No. A lawsuit advance is not a lawsuit loan. A lawsuit loan must be paid back, it includes interest charges, usually requires monthly payments, and you can be personally liable if your case is lost. A lawsuit cash advance is not a lawsuit loan because it only has to be repaid if you win your case and does not include interest or monthly payments.A lawsuit Cash Advance involves:
- A ‘sale’ of a portion of the contingent proceeds recovered from the lawsuit.
- NO interest charges.
- No personal obligation to be repaid if the case is lost. Meaning it is non-recourse.
- There are no monthly payments due.
What is the difference between a lawsuit cash advance and a lawsuit loan for Illinois residents?
In Illinois, lawsuit funding is structured as a loan and interest is charged and monthly payments are required. However, the borrower may elect to “defer” monthly payments and elect to repay the ;loan when the lawsuit is settled.
How is the Advance or Loan it repaid and when?
MoneyForLawsuits is entitled to a portion of your lawsuit settlement proceeds if, and only if, you win your case. If you lose your case, you owe nothing and are not required to pay the advance back.
How much does it cost to apply?
Absolutely nothing! It is free to apply. For competitive reasons, we do not include our pricing on our website. We are happy to discuss our pricing over the phone. Call us today at 888-747-8011 to speak with our specialists.
What are fees?
There are never any application fees or extraneous hidden fees to apply. If you decide to apply and are approved for lawsuit funding, prior to committing to funding you’ll be given a simple and clear fee schedule based on your individual case. This will allow you to see an illustration of the fees and know exactly how much you will owe.
What is the interest rate on your non-recourse advances?
Since the advance is not a loan, no “interest” is charged. However, the amount to repay grows by a scheduled amount each month. The growth rate will be clearly indicated in your transaction documents.
What are the monthly payments on your non-recourse advances?
There are no monthly payments. You only pay when you win your case.
Does it matter where I live?
Money for Lawsuits makes advances in most states, however we do not make advances in all states. To confirm your state is accepted, consult a M4L specialist at (800) 543 4043
Do I need an attorney or lawyer to get an advance?
Yes, you must have hired a lawyer and have an active complaint or lawsuit.
How does the process work?
Obtaining funding for a personal injury lawsuit is a quick and easy. There are 4 Easy Steps:
STEP 1: Contact M4L Call 1-888-747-8011, or complete our online application form
STEP 2: One of our funding specialists will contact you to obtain information about you, your case, and your lawyer – then we will review your case.
STEP 3: If you are approved, we will contact you to let you know and answer any questions. We will also send you the contract documents.
STEP 4: When we receive your signed contract, we will send you the funds the quickest way you want – a check overnight or wire the money directly into your bank account or, you can even pick it up.
How long does it take to get funded?
The entire process can be completed within just 24 – 48 hours.
What are the main features of our non-loan Plaintiff Lawsuit Funding Program?
•LOW RATES AND FEES
•QUICK APPROVAL: 24-48 hours.
•YOU PAY NOTHING UNTILIL YOU WIN YOUR CASE. We are paid from your recovery.
•NO RISK TO YOU. If you lose your case you keep our money and owe nothing.
•NO EMPLOYMENT CHECK.
•NO CREDIT CHECK. Bad Credit, No Income – NO PROBLEM.
•USE THE FUNDING FOR ANY LEGAL PURPOSE.
Presettlement cash can be used for:
- ◦Living Expenses
- ◦Housing – Rent / Mortgage Payment
- ◦Car Payments
- ◦Pay Bills
- ◦Medical Treatment
- ◦Education Expenses
What are the minimum and maximum funding amounts?
The minimum cash advance amount is $1,000. There is NO maximum amount.
Do you get involved in my lawsuit?
Money For Lawsuits DOES NOT and CANNOT offer any legal advice or get involved in your case whatsoever. You and your lawyer make all the decisions regarding your case.
Are my case and medical records kept confidential?
Money For Lawsuits uses your records only to review your case in order to expedite your lawsuit advance. Your information is only used by Money For Lawsuits underwriters. All information is kept confidential.
Can I Receive an Additional Lawsuit Advance even if I have already received Legal Funding?
Yes, if you already received an advance you may be eligible to receive additional funding. You can consolidate legal advances into one with M4L. You can elect to take multiple advances and spread them out over time.
Must my lawyer be involved?
Yes, your attorney needs to be involved in the process. It is critical that you contact your attorney and inform him or her to provide us with the case documents we require. Your attorney must also agree to disburse funds to us upon settlement of the case, but only after legal fees are paid.
How do I start the lawsuit funding process?
To begin, simply submit the online Application form or contact us directly. An experienced Funding Specialist will contact you right away.
Do you lend in Illinois?
Yes, we are a licensed lender in Illinois where our advances are structured as loans. Because of the laws in Illinois, we must charge interest. However, you can elect to defer all monthly payments until you win your case.
What are the monthly payments on your Illinois loans?
Monthly payments depend on the loan size and date. You can elect to defer payments until you settle your case.