Workers' Compensation Loans
Workers' compensation loans for job-related injuries.
Have you suffered a work injury or an occupational illness and are waiting for your worker’s compensation settlement to resolve? If so, you may be able to qualify for a workers’ compensation loan. Meet your financial needs like medical bills, missed paychecks, and other expenses while your claims process resolves. Apply for a workers’ compensation loan to find out if you can borrow against the potential settlement amount from your pending workplace injury claim.
Funding for workers’ compensation is eligible in the following states only: Alaska, Connecticut, Florida, Iowa, Louisiana, Montana, Rhode Island, Washington, or Wyoming.
- Low rates
- Fast funds
- No risk
Workers’ compensation funding offers financial relief to plaintiffs and their families in their time of need. When accidents happen, almost every employee starts scouting for an emergency cash advance to sort medical care, rent, mortgage, household bills and other financial commitments. A workers’ compensation loan (also known as injured workers pre-settlement funding or workers’ comp pre-settlement loan) may help you cushion financial strain and resist the urge to take peanut settlements from the workers’ compensation insurance. As such, buying your lawyer enough time to build a strong case and win the best compensation for your claims. Baker Street Funding provides cash advances to injured workers in the fastest time possible. Explore our lawsuit loans with rates 4 times cheaper than the average workers’ compensation settlement lender. The best legal funding companies know better than to put plaintiffs through extra stress after getting injured.
So, what is a workers' compensation loan?
Settlement loans for workers’ compensation claims allow injured workers access to quick non-recourse funding from their future workers’ compensation checks. This type of financing caters to employees hurt on the job to their financial needs before the legal case resolves. Pre-settlement workers’ compensation loans will help you stay afloat and on top of your bills while injured and waiting for your settlement payment. Get a workers’ compensation funding decision within 24 hours. Simply fill out the short application form online, ensure your lawyer fully cooperates, and await approval from our underwriting lawyers.
What is a workers’ compensation loan?
Settlement loans for workers’ compensation claims allow injured workers access to quick non-recourse funding from their future workers’ compensation checks. This type of financing caters to employees hurt on the job to their financial needs before the legal case resolves. Pre-settlement workers’ compensation loans will help you stay afloat and on top of your bills while injured and waiting for your settlement payment. Get a workers’ compensation funding decision within 24 hours. Simply fill out the short application form online, ensure your lawyer fully cooperates, and await approval from our underwriting lawyers.
How it works.
Because we understand that every second counts when accidents happen (slip, trip and falls, and other work-related injuries and illnesses) and injured employees need quick funds to settle bills, our application process is easy to follow through. Here is how it works:
Apply for a lawsuit loan
Having gotten an attorney to represent your case on contingency, you can proceed to fill out our short application form online. You will provide important details about the case, including the contact address of your attorney.
Get qualified
Once you have successfully filled out and submitted the short application form online, our funding team will comb through your application to see if you qualify for a pre-settlement loan.
Get a decision
Then, underwriting will study your legal case, and they'll have to speak to your attorney about it's merits. If your workers' comp claim checks all the boxes, you will get approval in less than 24 hours. From that point on, you and your attorney will receive a funding agreement to sign.
Get cash
Having signed the funding contract with your attorney, the agreed pre-settlement workers' compensation loan amount will be paid almost immediately — without delays.
Apply for a lawsuit loan
Having gotten an attorney on contingency, you can proceed to fill out our short application form online. You will provide important details about your workers' comp claim, including the contact address of your attorney.
Get qualified
Once you have successfully filled out and submitted the short application form online, our funding team will comb through your application to see if you qualify for a pre-settlement loan.
Get a decision
Then, underwriting will study your legal case, and they'll have to speak to your attorney about it's merits. If your workers' comp claim checks all the boxes, you will get approval in less than 24 hours. From that point on, you and your attorney will receive a funding agreement to sign.
Get cash
Having signed the funding contract with your attorney, the agreed pre-settlement workers' compensation loan amount will be paid almost immediately — without delays.
See the advantages.
There is a long list of benefits for taking lawsuit loans to fund your workers’ compensation case. Here are the top reasons.
100% risk-free
Loans while on workers' comp are non-recourse and secured by your potential workers' compensation settlement — meaning that you are not obligated to repay anything if your claim gets denied. You will only repay the money you took out if you win your case. Otherwise, our we will bear the loss. Taking out a pre-settlement workers' compensation loan is 100% risk-free.
No employment check
In addition to not stressing over credit checks, you also don't have to worry about employment checks when applying for Baker Street Funding lawsuit loans. We understand how difficult things can be at such trying times — as such; your employment status won't affect your chances of getting approval for a workers' compensation settlement loan.
No credit check
You don't have to worry about undergoing credit checks before the loan amount is approved.
100% risk-free
Loans while on workers' comp are non-recourse and secured by your potential workers' compensation settlement — meaning that you are not obligated to repay anything if your claim gets denied. You will only repay the money you took out if you win your case. Otherwise, our we will bear the loss. Taking out a pre-settlement workers' compensation loan is 100% risk-free.
No employment check
In addition to not stressing over credit checks, you also don't have to worry about employment checks when applying for Baker Street Funding lawsuit loans. We understand how difficult things can be at such trying times — as such; your employment status won't affect your chances of getting approval for a workers' compensation settlement loan.
No credit check
You don't have to worry about undergoing credit checks before the loan amount is approved.
Workers' compensation loans—easy and fast.
Workers’ compensation pre-settlement funding works as a tool to get the cash you need before your claim settles. Unlike traditional loans, lawsuit loans are easy to get and are non-recourse; therefore, free of risk to you. But that’s not all, loans against workers’ compensation settlements from Baker Street Funding get approved within 24 hours or less. You don’t need to go through the stress of dealing with bulky paperwork, the tedious process of credit checks or employment checks — you also don’t have to worry about paying hidden fees and markups on the contract.
- Risk free
- Fast approvals
- Low rates
- 24-hour funding
See some of our other funding products.
FAQs.
Qualifying states for workers' compensation settlement loans
You can get funding from your workers’ compensation insurance claim if you have an attorney on contingency; your employer has a workers’ comp insurance, and you live in a fundable state.
The states that qualify for a workers’ compensation loan are Alaska, Connecticut, Florida, Iowa, Louisiana, Montana, Rhode Island, Washington, and Wyoming.
The states we currently offer workers’ compensation loans are subject to change at any time and without notice.
How does the workers' compensation settlement loan repayment work?
If your employee settles, your workers’ compensation settlement can be paid in a lump sum or a structured settlement agreement.
But if your employee doesn’t want to negotiate or settle at all, you can end up in a workers’ comp lawsuit or hearing in trial.
Once the judge decides on how much you should get for your workers’ compensation settlement, the insurance company pays the claim.
From this point on, your workers’ compensation attorney will pay the settlement lender the monetary assistance they gave you.
Why do injured workers rely on workers' compensation settlement loans?
Because of the time gap between the start of your case and until it finally resolves, injured employees recur to pre-settlement funding.
The chances are that you have heard or come across the famous saying that “one can never be too careful.” While this statement is intended to make workers’ safety cautious and more aware of the work environment, the fact is that work accidents still happen.
Getting a workers’ compensation settlement is often protracted because of the increasing cases of employment accidents, injuries, and even deaths. And because bills won’t stop piling up and you will need money to take care of your health and other urgent needs, sitting on your hands is usually not a great option.
If you or someone close to you is involved in an accident and get injured while discharging their duties, you are entitled to get compensation or damages from your employer. Even though these claims allow you to get a settlement for the injury, loss of wages, incapacitation or death of a loved one, they often take a long time to settle.
Injuries that qualify for workers' comp loans
If you are receiving workman’s comp (or workers’ compensation benefits) and have substantial workplace injuries, you may be able to qualify for funding.
Some of the injuries we mostly fund are:
Some of the claims that qualify for workers' compensation funding
Baker Street Funding will provide funding to most injured employees pending approval. The following are some of the types of workplace accident insurance claims we fund:
- Airline & Airport employees
- Government agency employees
- USPS workers
- Workers of the Union
- CVS, Wallgreens workers
- Target and Wallmart employees
- Construction workers
- Bus Drivers
- Healthcare staff
- Energy employees
- Auto mechanics
- Railroad laborers
- Truck Drivers
