Pre-Settlement Funding

Funding amounts can range from $1,500 to $2,000,000+ depending on the value case, when the claim will approximately be settled and how stable your expected settlement is.

Take out enough to cover what you need, but never borrow more than you need.

Although pre-settlement funding can be used for just about anything except paying your attorney, only the best companies recommend consumers utilize the money on essential expenses. 

Before you agree to get funding, ensure that it is right for you and commit to treating it responsibly. You are obtaining money from your expected settlement, and the interest rates will increase overtime.

Use the money in your specific instances of ongoing litigation, such as emergency expenses, and after you have weighed all available financial options. 

Most people use the funds to cover any number of expenses, including buying a car to transport to work, paying past due bills, paying a veterinary’s medical bill, or paying your kid’s school. 

Once you have decided to get funding, you can easily apply online; Baker Street Funding can help you get your money fast and with lower interest rates.

The interest rates work based on a few factors, such as your case length and strength.

The interest rate refers to the percentage of the funding amount you’ll be charged each month, every three months, or every six months, and the lower the risk your case carries, the lower your interest rate can be.

Generally, the more the funding company thinks your case is risky, the higher the interest rate will be.

Pay attention to annual compounding percentage rates that quickly add up to your loan, which include the length of the loan’s interest rate, how much you will pay over time, as well as other fees (if applicable).

Choosing a company that provides non-compounding rates at no more than 3.4% per month is best. Avoid companies with interest rates that will charge between 50% and 200% per year.

Ultimately, depending on the risks of your legal claim, you could receive funding with much lower interest rates than other claims that carry more risk. 

Not necessarily. What you can do is ask the funding company what their fees are.

It is very common for most lenders to charge fees. This is typically a percentage of the total amount you take out of your expected settlement.

Instead of worrying about fees, look for lenders that provide minimal costs that will be reasonable when your lawsuit is settled.

that means looking for fees that won’t go up over time, can fairly justify the rate you are given, and save you money overall.

Be careful with lawsuit funding companies that don’t charge fees, those contracts usually have compounding rates that go up to 200% per year, and you will have to pay a lot more over time.

The pre-settlement funding process takes 24-48 hours from when your lawyer provides all documentation of your claim.