Can My Lawyer Deny Me From Getting a Pre-Settlement Loan?
If you are considering a lawsuit loan, you may be wondering whether your lawyer can deny you from getting a pre-settlement loan or if you can get a lawsuit loan without an attorney.
While pre-settlement loans are a good option for those struggling to keep up with bills during a lawsuit, they’re not for everyone. Sometimes, your lawyer might steer you away from getting lawsuit funding because it may not be in your best interest. However, the decision is always up to the plaintiff.
Before You Get a Pre-Settlement Loan, You Must Have an Attorney on Your Case
Before you can get a pre-settlement lawsuit loan, you must have an attorney representing your case. If you have an attorney on your case, your chances of winning a settlement increase dramatically. Since repayment for lenders is contingent on the outcome of the case, they cannot take a risk on plaintiffs without an attorney.
If you still need an attorney, the good news is that many law firms work on a contingency fee basis, which means you don’t pay them unless you win your case. Since having a lawyer also increases your chances of getting a larger settlement, the 30-40% you pay them is well worth it.
The Decision to Get a Pre-Settlement Loan is Yours
Ultimately, if you want to apply for a lawsuit loan, you are not restricted from doing so. However, it is important to listen to the advice of your attorney, since they look out for your best interests.
If your attorney is preventing you from getting a lawsuit loan, you should have a conversation with them and ask why. In some cases, you may live in a state that doesn’t allow lawsuit funding or you may already have too much funding from another lender.
Whatever the reason, make sure that a pre-settlement lawsuit loan is right for your situation. If you are having issues paying for legal fees or keeping up with bills during your lawsuit, a pre-settlement lawsuit loan can help.
Were You Denied for Lawsuit Funding? Here Are Some Next Steps
If a lender denies your lawsuit loan application, it doesn’t mean you won’t qualify later. In many cases, you may qualify if your case becomes stronger or moves close to trial. You can also ask why the lender denied your application so you can strengthen your case.
For example, if a lender denies you because your case doesn’t establish liability, you can reapply once your lawyer establishes fault. At Nova Legal Funding, we have the highest approval rating of any legal funding company nationwide. If other lenders deny you, we can still help. Apply online or call us today at 800-760-0704 for a free consultation.