Pursuing a Texas lawsuit is not necessarily inexpensive or a quick process. If you have an attorney, the law firm is likely fronting the legal fees and costs to fight for the maximum compensation possible.
Defendant insurance companies know you need that money to pay expenses and bills, which is why they will sometimes offer you less money than your case is worth in hopes you’ll settle because you need cash now.
One way to avoid this is by applying for lawsuit settlement loans in Texas.
A lawsuit loan, or lawsuit funding, is one way to keep your case going and still pay necessary bills and living expenses while litigation is pending.
Your lawyer has extra time to fight for the maximum settlement possible, and you get to relieve some of the financial stress you’re experiencing.
Texas lawsuit loans are available for many different types of litigation. The key is finding the right company with the best rates. Not all lawsuit loans in Texas are created equal.
How Lawsuit Funding in Texas Works
The application process may vary slightly depending on the lawsuit loan company you choose, but the general premise is the same.
You apply for a loan over the phone or online. The company will also speak with your attorney to discuss your case and determine whether it’s a good fit.
If approved, you receive the money quickly, usually within 24 to 48 hours of approval.
Companies typically do not use your credit or income to determine eligibility. The collateral here is your lawsuit.
The term lawsuit loan is not entirely accurate as it’s not a loan in the traditional sense. The reason is that if you lose your case, you don’t have to pay the funds back.
If you win your case, you’ll pay the loan with the specified interest amount out of your settlement or jury award.
That is why the approval process relies heavily on the lawsuit loan company’s conversation with your attorney.
Types of Cases That Are Suitable for Texas Lawsuit Loans
Numerous types of cases are ideal for lawsuit settlement loans in Texas. Some of the most common ones include:
- Car accidents,
- Bicycle accidents,
- Motorcycle accidents,
- Large truck accidents,
- Rideshare accidents,
- Slip and falls,
- Nursing home negligence,
- Defective products,
- Boating accidents,
- Labor law disputes,
- Toxic mold,
- Libel and slander, and
- Medical malpractice.
If your lawsuit type is not on this list, it doesn’t mean you aren’t a good fit. Different lawsuit loan companies work with numerous types of lawsuits in various states.
It depends on local state laws and risk assessment. When a lawsuit loan company is looking at your application, it doesn’t matter what type of case it is if the chances of you prevailing are not good.
Approval for lawsuit funding in Texas is directly linked to the likelihood of receiving a settlement in your case.
How Injury Wallet Can Help with Lawsuit Settlement Loans in Texas
Are you interested in learning more about options for lawsuit loans in Texas but unsure where to begin? Injury Wallet is here to help.
Our company does not provide any legal funding, but we can help you choose the best lawsuit funding in Texas.
We have worked with the best lenders in the industry, so we know who has the best rates and reliable service. Rather than shopping around and comparing rates, we do the heavy lifting for you.
All you have to do is fill out our brief questionnaire and let us handle the rest. We will take your case to dozens of the top lawsuit lenders all across the country to find who wants to fund your case at the lowest rate possible.
Once we’ve matched you with the best lender option, we will provide you with the information you need to decide whether you want to move forward.
Applying for a lawsuit loan is no risk because you don’t pay back the money should you not receive a settlement.
Contact Injury Wallet today and let us match you with the best options for lawsuit settlement loans in Texas.