Norfolk, VA Lawsuit Loans
- Get Cash as Soon as the Same Business Day
- Rates as Low as 2.5% Simple, Monthly
- Repay $0 if You Lose Your Case
What Are Lawsuit Loans in Norfolk, Virginia
When you’re a plaintiff involved in a legal case, action such as a personal injury claim can drag on for months, if not years. The financial burden this places on someone can be immense. This is where lawsuit loans come in.
A lawsuit loan, also known as pre-settlement funding, is an advance on a future legal settlement that you might hope to win. These are non-recourse advances, meaning you are only required to repay the loan if you win your case. If you lose, you owe nothing.
At LawsuitLoans.io, we help fund claims throughout Virginia. You can learn more about our services specific to your state by visiting our Virginia Lawsuit Loans page.
Now, let us walk through a hypothetical example. Meet Walter, a resident of Norfolk, Virginia. Walter was injured in a car accident and filed a personal injury case. While waiting for his case to settle, Walter found himself struggling with expenses. Upon learning about lawsuit loans, he decided to apply.
Walter reached out to us at LawsuitLoans.io and went through a simple application process. After a review of his case, he was approved for a pre-settlement funding. With our help, Walter was able to ease his financial strain until his legal case was settled.
Getting a lawsuit loan could be the financial lifeline you need while you wait for your legal case to resolve. Don’t let monetary concerns delay your path to justice.
How Lawsuit Loans Work
Here’s how the lawsuit loan process works in three easy steps. The entire process can be completed within 24 hours with your attorney’s help.
Apply Online or Call Toll-Free
Apply online or call us toll-free at (866) 594-1343. Submitting your application takes minutes.
We Review Your Case
Next, we contact your law firm and collect basic information to review your case. Review only takes a few hours.
You Receive Funds
You and your attorney review and sign our funding contract. Once complete, you can have funds within hours.
Important Virginia Lawsuit Loan Information
At LawsuitLoans.io, we recognize how crucial it is to understand the financial aspects of lawsuit loans. This includes knowing the average loan amount, the maximum loan that we have provided in your state, and the typical semi-annual rate. You should also know the median personal injury verdict amount in Virginia. Another important legal fact to consider is the state’s statute of limitations and its fault laws. Lastly, due to demographic factors, we thought you might be interested in the 2020 population of your city.
| Average loan amount by LawsuitLoans.io in Virginia | $7,764.26 |
| Largest loan by LawsuitLoans.io in Virginia | $34,850.98 |
| Average semi-annual rate in Virginia | 20.6% |
| Median personal injury verdict in Virginia | $24,720.00 |
| Virginia Statute of Limitations | 2 Years; Title 8.01 Section 8.01-243 |
| Virginia fault laws | Virginia operates as an “at-fault” or “tort” state, which means the driver who is determined to be at fault for an accident is held responsible for any damages. |
| Richmond Population, 2020 | 238,005 |
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
Common Case Types We Fund in Norfolk
At LawsuitLoans.io, we offer funding for a wide range of legal case types while you wait for your case to be settled. Here are some of the most common case types that we fund in Norfolk:
Auto and Other Roadway Accidents
These incidents often involve claims for personal injury due to incidents like car accidents, motorcycle crashes, pedestrian incidents, and commercial vehicle accidents. We provide pre-settlement funds to these plaintiffs to help ease their financial burden while they pursue justice.
Premises Liability Cases
This includes cases where injury occurs on another person’s property due to their negligence or failure to maintain safe conditions. Our funding can assist these individuals while they await the resolution of their claim.
Medical Malpractice Claims
Victims of medical malpractice often face long legal battles for their right to fair compensation. We provide lawsuit loans to these individuals to help them meet their financial needs during this challenging time.
Labor Law Claims
We also fund cases involving labor law disputes. This may include wrongful termination, discrimination, and other employment-related issues. Our lawsuit loans help these plaintiffs to stand up for their rights without worrying about their finances.
Other Personal Injury Claims
Apart from the above, we also cater to a broad range of other personal injury claims. This may include slip and fall accidents, product liability cases, construction accidents, and more. We’re here to offer financial support while your case is being resolved.
To learn more about how we can help or to apply for funding, visit LawsuitLoans.io or call our toll free number (800) 340-4973. You can also submit an application directly via LawsuitLoans.io funding application.
Get an Instant Quote
Input your requested funding amount and the time your case may take to settle here to see your potential savings and costs when you choose LawsuitLoans.io. While we sometimes offer rates as low as 2.5%, our calculator assumes a simple, non-compounding monthly rate of 3.3%. This calculator is for illustrative purposes only. Actual terms may differ. Please contact us for an instant, written quote for your request.
Advance Amount:
Months Until Settlement:
$2,900
Total Cost
Pay $2,900 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
$1,697
Your Savings
Save $1,428 compared to competitors on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
33%
Percent Savings
Save 33% on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Am I Eligible for a Lawsuit Loan in Norfolk?
If you are in the middle of a lawsuit in Norfolk and find yourself in need of funds to tide you over, then you may be considering a lawsuit loan. The next question that naturally arises is – am I eligible? Here, we provide a brief overview of the basic eligibility criteria.
Making a legal claim against an insurance company, a self-insured company, or a large public entity is the first step. This means you have already filed a lawsuit or are in the process of doing so. The case must be valid and possess potential merit.
Another important criteria is having an attorney. Obtaining a lawsuit loan without an attorney representing your case is nearly impossible. In fact, most pre-settlement funding companies require that you be represented by a legal professional. Your attorney not only guides you through the labyrinth of legal proceedings but also plays a crucial role in securing the loan.
Lastly, you must be at least 18 years old to apply for a lawsuit loan. This is a standard requirement as most jurisdictions consider individuals under the age of 18 as minors who cannot legally enter into contracts.
Get Started
Apply today and get funds in as little as 24 hours!
Our Norfolk Lawsuit Loan Process
Lawsuit loans are a reliable funding solution for plaintiffs waiting for their legal claims to resolve. They provide much-needed funds to manage personal expenses during this period. Here at LawsuitLoans.io, we have simplified this process into five easy steps.
Step 1: Apply Online
Start by filling our online application form at LawsuitLoans.io funding application. The form is easy to fill out, and it requires few details about you and your case.
Step 2: We Contact Your Law Firm
After receiving your application, we get in touch with your law firm to gain more insights about your case. It helps us understand the prospects of your lawsuit better.
Step 3: We Review Your Case
Our team of legal experts then reviews your case thoroughly. This step is vital as it determines whether your case qualifies for a lawsuit loan or not.
Step 4: You Sign a Contract
Upon approval of your lawsuit loan, we draft a contract. This contract spells out the terms of the loan, which you need to sign to proceed.
Step 5: You Get Funds
Finally, once the contract is signed, we disburse the funds to you. You can use these funds to meet any financial requirements till your case resolves.
Let’s illustrate this process with an example. Assume you have a personal injury legal claim, and the case has been dragging on for months. During this time, your expenses are stacking up. To ease your financial burden, you apply for a lawsuit loan through LawsuitLoans.io. We then follow the five-step process described above, and soon you receive the necessary funds to help you manage your finances while waiting for your case to resolve.
How Much Money Can I Get From my Lawsuit Loan?
Lawsuit loans from LawsuitLoans.io can range from $500 – $1,000,000+. We can advance up to a maximum of 25% of your expected portion of the settlement if your case is still in progress. For settled cases, we can offer 50% of your expected portion of the settlement.
Let’s illustrate with an example. Suppose you’re a Norfolk plaintiff embroiled in a car accident case. If your case has an estimated value of $100,000 but is still not settled and will take some time, here’s the breakdown:
- Medical providers get paid around 33.33% (or roughly $33,333) of the settlement.
- Your attorney gets another 33.33% (or roughly $33,333) of the settlement.
- You, the plaintiff, get the remaining value, which is around $35,000.
In such a situation, LawsuitLoans.io can advance around 25% of your portion ($35,000), or about $8,250.
Get $500 – $500,000 in as Little as a Single Business Day!
We understand that if you’re applying for funding with us, you needed the funding yesterday. With your attorney’s cooperation, we can provide funding as soon as the same business day.
How quickly can I get a pre-settlement lawsuit loan in Norfolk?
Getting a pre-settlement lawsuit loan through LawsuitLoans.io is swift and simple. The moment you complete your application, our team starts to review your case. We aim to make efficient decisions without compromising the thoroughness of our process. Plaintiffs can notably expect to hear back from us within 24 hours.
For example, imagine you submit your application on a Monday morning. By Tuesday morning, you should have a decision regarding your funding. If your case is approved, we quickly make arrangements for your fund transfer. Therefore, in such situations, the turnaround time could be as short as a single day.
This fast-response allows plaintiffs to focus their energy on the legal proceedings of their case instead of worrying about financial pressures. Visit our application page to get started or call us at (800) 340-4973 if you have any queries.
Pros and Cons of Pre-Settlement Funding in Norfolk, Virginia
The concept of pre-settlement funding brings along a myriad of benefits and costs. Let’s delve into both these aspects to provide you with a holistic perspective on the matter.
Benefits of Pre-Settlement Funding
Pre-settlement funding can provide significant financial relief during the course of your lawsuit. It gives you early access to funds before the legal case resolves, allowing you to manage living expenses and medical bills effectively. It also helps in avoiding early settlement pressure from the defense side, as your financial burdens are catered for. Another major benefit is the non-recourse nature of lawsuit loans, meaning that you are not obligated to pay back the loan if you lose your case.
Costs of Pre-Settlement Funding
On the flipside, pre-settlement funding does come with some costs or potential downsides. This includes relatively high interest rates, which can add to the final repayment amount. The industry is generally unregulated or under-regulated, leading to potential exploitation of plaintiffs. Lastly, for securing a pre-settlement fund, it is necessary to have a well-developed case and to engage an attorney working on a contingency basis, which may not always be feasible for all plaintiffs.
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
Norfolk Pre-Settlement Funding FAQs
As a resident of Norfolk, you may have a few questions regarding pre-settlement funding. Here, we will answer some frequently asked questions about this type of financial assistance.
How much does it cost to get a lawsuit loan?
Costs associated with a lawsuit loan can vary depending on your case. Since these are non-recourse loans, they’re repaid from your settlement amount. You only pay if you win your case. It’s key to note that the terms and fees should be discussed in advance with the lender.
Do I qualify for a lawsuit loan?
Qualifying for a lawsuit loan depends majorly on the strength of your case. If you have a solid case that’s likely to result in a win, there’s a high chance of qualifying for funding. At LawsuitLoans.io, we also look at if the funds will be used responsibly to handle immediate financial needs during your pending litigation.
If you have bad credit, can you get pre-settlement funding in Virginia?
Absolutely! Your credit history does not play a role in your approval for pre-settlement funding. The decision is solely based on the strength and merits of your legal claim. Don’t let poor credit history stop you from seeking the financial help you need during the litigation process.
Other Cities we Service in Virginia
LawsuitLoans.io provides funding throughout Virginia. See more about our funding in other key Virginia cities by visiting the pages below:
Get Started
Apply today and get funds in as little as 24 hours!
Norfolk, VA Cases we Fund
LawsuitLoans.io provides funding for various personal injury and roadway accident cases in Norfolk. Read more about the personal injury cases we fund in Norfolk here:
- Personal Injury Loans
- Police Misconduct Lawsuit Loans
- Medical Malpractice Lawsuit Loans
- Slip and Fall Lawsuit Loans
- Premises Liability Loans
- Dog Bite Lawsuit Loans
- Wrongful Death Loans
Read more about the roadway accident claims we fund in Norfolk here: