California Lawsuit Loans (Lawsuit Funding)
Fair Rate Funding is proud to serve California lawsuit loans (CA Lawsuit Funding) to the Great State of California.
If you or a loved one was involved in a California (CA) lawsuit but cannot wait until the case settles and need cash now, you can qualify for California lawsuit loans through Fair Rate Funding!
Fair Rate Funding offers California lawsuit funding (CA Lawsuit Funding) for personal injury plaintiffs who are living through the litigation process. We help plaintiffs get the money they need, when they need it. The money is used to cover all types of expenses.
Fair Rate Funding also facilitates attorney lawsuit funding for law firms who entertain specialty cash flow solutions.
What is a California Lawsuit Loan?
A lawsuit loan is a specialty finance transaction in which a plaintiff sells a portion of the future proceeds of a lawsuit to a settlement funding company, like Fair Rate Funding. In return, the plaintiff receives immediate cash, prior to settlement.
If the case is successful, the lawsuit loan is repaid by plaintiff’s attorney. If the case is lost, the lawsuit “loan” is not repaid. This is called non-recourse funding and means lawsuit loans are not really loans at all.
Plaintiffs do get the financial relief they seek when they need it.
What is the Purpose of California Settlement Loans?
Legal funding, like California accident loans, are designed to allow plaintiffs to financially withstand the long litigation process. Personal injury plaintiffs often found themselves unable to work. The resulting financial stress force many plaintiffs to accept the “low-ball” settlement offers insurance companies suggest. Because the plaintiffs are “up against the wall” financially, they sometimes accept unfair settlement amounts simply to ease their immediate financial burdens.
Settlement loans offer plaintiffs a financial lifeline to bridge the gap between the accident and settlement. During that time, plaintiff lawyers can fight for justice.
What are the Benefits of Non-recourse Loans?
Legal funding in California is considered non-recourse. With non-recourse loans, the funding company purchases a portion of the future settlement. That means the only possible repayment source is the lawsuit itself.
As the name suggests, the legal lender in California and throughout the United States has “no recourse” to go after any of your other assets or personal property. Its sole right to repayment lies in the success of the case. If the case is unsuccessful for any reason, the lawsuit advance(s) are not repaid.
For this reason, we do not consider any traditional loan factors in our evaluation. Any factors which would normally be used to approve a regular loan are not relevant because your ability to repay on a periodic basis is not required for California lawsuit loans. These might include:
- Credit score
- Current employment status
- Current assets
- Proof of income
What is the Charge for Lawsuit Loans in California?
Lawsuit funding rates can be confusing, but they need not be. The lawsuit loan market charges for its services in two different ways. First, they offer non-compounding rates. Second, they offer rates that compound monthly. Over time, the difference between compounding and non-compounding rates can be significant.
Fair Rate Funding rates are non-compounding 18% every six months until the case is settled, and settlement proceeds disbursed.
How Can California Lawsuit Loans Be Used?
When you take out a settlement loan in California, there are no restrictions on how the money is used. After all, it your money! Most often, lawsuit funding clients use lawsuit loans for:
- Medical treatment
- Medical Bills
- Rent or housing payments
- Car payments
- Living expenses
- Child care
- Educational expenses
- Potential investments
- Paying off debt
Do You Need a Lawsuit Loan in California (CA)?
Fair Rate Funding is a leader in the lawsuit loan business and helps clients with cash now prior to settlement. Fair Rate Funding extends CA lawsuit funding, lawsuit loans, legal loans and settlement funding throughout the US and California including the cities of:
- Los Angeles
- Orange County
- San Diego
- San Francisco
- San Bernardino
- Palm Springs and other municipalities.
Often, clients obtain California lawsuit funding in as little as 12 hours.
What Types of Cases are Available for Lawsuit Funding?
Fair Rate Funding specializes in CA lawsuit funding for the following types of California lawsuit loans:
- Car Accident Settlement Funding
- Slip and Fall Lawsuit Settlement Loans
- Burn Case Settlement Loans
- Verdict Lawsuit Loans
- Premises Liability Lawsuit Funding
- Product Liability Settlement Funding
- Settled Lawsuit Loans
- Medical Malpractice Settlement Loans
- Jones Act Settlement Funding
- FELA Lawsuit Funding
- And more…
Can California Negligence Cases Receive Lawsuit Funding in California?
California follows a pure comparative negligence system. Under this system of assigning negligence, a judge or jury assigns a percentage of fault to each responsible party and then apportions the damage award accordingly. Under a pure comparative system the plaintiff can recover damages even if the accident was to a great extent his or her fault. The total damages would be reduced by the percentage of fault assigned to the plaintiff.
Are California Auto Accident Loans Available?
California is a tort state for auto accidents. In California a driver must be found to be responsible for causing the accident before that person’s insurance pays for damages including medical treatment.
Contrast this type of state with “no- fault” states such as New York or New Jersey, where there is no requirement to prove fault and the injured person’s medical treatment is paid by his own policy.*
What Funding Categories are Typical in California?
CA Pre-Settlement Funding
People involved in personal injury lawsuits and are waiting for their case to reach settlement may qualify for CA lawsuit loans or CA pre-settlement funding which provide immediate financial relief in the form of cash in as little as 12 hours. CA lawsuit cash advances are also known as legal funding, lawsuit funding, settlement funding, legal loans or settlement loans.
CA Lawsuit Loans
A California pre settlement cash advance is available any time after a plaintiff’s personal injury attorney files a claim with the defendant’s insurance carrier or a Complaint in state or federal court. The plaintiff must have retained an attorney to help pursue the case and the attorney must be retained on a contingency fee arrangement.
CA Settled Case Funding
Also called California settled case loans, CA settled case funding is an option after a Settlement Release is signed by the parties. There is normally a delay between the signing of the Release and the disbursement of funds. California settled case funding is available in this situation.
* Consult with your personal injury attorney for counsel of your rights and obligations under the law as California laws can and do change frequently.