Many individuals often wonder about the interest rate they can expect when applying for settlement legal funding, commonly known as lawsuit loans or lawsuit cash advances.
The interest rate you may receive largely depends on the details of your funding arrangement, which are determined by the particulars of your lawsuit. Cases deemed to be more risky may have interest rates while those considered secure may have lower rates. However, we cannot provide an interest rate without reviewing the specifics of your individual case.
Low-Interest Rates, No Hidden Fees
Our rates are tailored to offer you the lowest possible interest rate for your pre-settlement loans. After examining your application and contacting your attorney or law firm for information, we will have a better understanding of the funding options available to you. We use a rate of a compounded rate and there are no hidden fees involved.
Factors Affecting Your Lawsuit Loan Rate
Loan rates are not determined by your finances or credit scores. We do not require access to your private bank account information or conduct any credit checks. The interest rates for settlement legal funding are instead based on several factors related to your lawsuit, including the overall strength of your case, the amount of compensation you anticipate receiving (i.e. the damages), and the projected duration of your case.
Our Repayment Process
Many individuals who opt for lawsuit loans or pre-settlement legal funding often worry about the repayment process. At New York Car Accident Loans, we strive to make it straightforward and stress-free for you.
Lowest Cost Pre-Settlement Funding
First and foremost if unfortunately, you end up losing your car accident lawsuit, you won’t have any obligation to repay us whatsoever! You won’t be held liable for the funds as New York Car Accident Loans will absorb the loss.
In such an outcome that you’ll emerge victorious in your lawsuit, you’ll only need to repay us a portion of your compensation package. It’s important to note that there are no fees involved in between. Moreover, when it’s time for repayment, we handle everything directly with your attorney. Let’s take a look at how this process works:
Step One: Resolution of Your Case
Whether through settlement negotiations or a favorable trial outcome in court, your case concludes with compensation being awarded to you. Hooray!
Step 2: Your Lawyer Receives A Payment
The responsible party in your case will send a payment to your lawyer’s office for the agreed compensation amount. From that payment, your lawyer will deduct their fees.
Step 3: Your Lawyer Sends Us A Payment
Your attorney will then issue a check to New York Car Accident Loans for the amount that was agreed upon. The remaining portion of your earned compensation is yours to keep.
It’s as simple as that. There are no loopholes or monthly repayment deadlines for you to worry about.
Apply for a Car Accident Loan NOW
You have the freedom to use settlement funding however you see fit—it’s your money. To submit an application today at no charge, please visit our Apply Now page. We’ll take care of the rest.