South Portland, ME 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 South Portland, Maine?
A lawsuit loan, also known as pre-settlement funding, offers a financial lifeline to injured plaintiffs waiting for their legal cases to resolve. These loans are non-recourse advances based on the anticipated legal settlement of a plaintiff. This means that repayment is contingent upon the success of your case – if you don’t win, you don’t repay the loan.
At LawsuitLoans.io, we provide lawsuit loans to plaintiffs throughout Maine, including South Portland. You can find more information by visiting our Maine Lawsuit Loans page.
Here’s a hypothetical scenario to illustrate how a lawsuit loan might work:
Meet Deborah, a resident of South Portland, Maine. She was severely injured in a car accident caused by a negligent driver. The injuries sustained required extensive medical care, which caused her to miss work for several weeks, causing further financial stress.
While awaiting settlement of her personal injury case, Deborah’s bills began to pile up. That’s when she turned to LawsuitLoans.io for a pre-settlement loan. She applied online and after reviewing her case details, we provided her with the funds she needed. The funding eased her financial burden and allowed her to wait for a fair settlement of her case without rushing into a lower-than-deserved pay-out.
The beauty of a lawsuit loan is that it comes with no risk. If Deborah’s case were unsuccessful, she wouldn’t have to repay the advance. However, when she did win the case, a portion of the settlement was used to clear the advance, leaving her with the remaining balance to take care of her needs.
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 Maine Lawsuit Loan Information
Lawsuit Loans are crucial aids for plaintiffs involved in long-drawn legal proceedings. LawsuitLoans.io is proud to provide such aid in the state of Maine. Below is a brief overview of important lawsuit loan statistics in Maine.
| Average loan amount by LawsuitLoans.io in Maine | $130,067.00 |
| Largest loan by LawsuitLoans.io in Maine | $130,067.00 |
| Average semi-annual rate in Maine | 20.0% |
| Median personal injury verdict in Maine | $27,000 to $113,500 |
| Maine statute of limitations | 6 years; Maine Revised Statute Title 14 Section 751 |
| Maine fault laws | Maine is an “at-fault” or “tort” state, meaning the driver found to be responsible for the accident is liable for damages. |
| Portland population, 2020 | 26,498 |
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
Common Case Types We Fund in South Portland
LawsuitLoans.io provides funding for various types of cases in South Portland. The most common funded case types include the following.
Auto and Other Roadway Accidents
We fund cases that involve car and other roadway accidents. These cases often relate to victims sustaining injuries due to the negligence of another driver or road user.
Premises Liability
Cases where an individual gets hurt on someone else’s property fall under premises liability. Such cases could arise from slip-and-fall incidents, poor maintenance, or hazardous conditions on the property.
Medical Malpractice
When healthcare professionals fail to provide the standard level of care, resulting in harm to the patient, medical malpractice occurs. This could involve errors in diagnosis, treatment, aftercare, or health management.
Labor Law Claims
We also fund cases relating to labor law claims. These include but are not limited to, wage theft, discrimination, and unsafe work environments.
Employment Claims
Cases involving issues like wrongful termination, harassment, or discrimination in the workplace fall under employment claims.
Other Personal Injury Claims
Aside from the categories mentioned, we also fund other personal injury claims. These may range from product liability cases to assault and battery incidents.
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 South Portland?
Lawsuit loans, also known as legal funding or pre-settlement funding, can provide much-needed financial support to plaintiffs awaiting the resolution of their legal claims. But who exactly is eligible for these loans in South Portland? Let’s delve into the primary eligibility criteria.
The first factor for eligibility is having a valid legal claim. This could be against an insurance company, a self-insured company, or a large public entity. If you’re involved in a legal dispute with any such party, you might qualify for a lawsuit loan.
Another essential criterion is representation by an attorney. LawsuitLoans.io requires that you have legal representation when applying for funding. This ensures a more streamlined legal process and allows us to liaise directly with your attorney about your case. It’s important for potential loan recipients to understand that a lawsuit loan is not like a regular bank loan. Instead, it’s a form of cash advance against the expected settlement of your legal claim. Therefore, the outcome of your case plays a significant role in determining your eligibility.
Fulfilling age-related criteria is also crucial. You must be at least 18 years old to access a lawsuit loan. LawsuitLoans.io provides pre-settlement funding to eligible adults involved in various types of personal injury and other legal claims.
To conclude, while each application for a lawsuit loan is assessed on its own merits, a valid legal claim, legal representation, and being over 18 years are generally required.
Get Started
Apply today and get funds in as little as 24 hours!
Our South Portland Lawsuit Loan Process
Understanding what to expect can make the lawsuit loan process less intimidating. That’s why we’ll outline how lawsuit loans work, so you know exactly what happens each step of the way.
Lawsuit loans function in stages, each of which is straightforward and direct. Below are the main steps involved for a plaintiff to receive funds:
- Apply online: This is the initial stage where you fill out your personal and case details on our funding application.
- We contact your law firm: Once we’ve received your application, we reach out to your law firm to get more information about your case.
- We review your case: Combining your provided details and the information from your law firm, we conduct an assessment of your case.
- You sign a contract: If your case qualifies for funding, we send you a contract detailing the loan terms. Upon signing the contract, we move towards the final stage.
- You get funds: With the signed contract, we approve your loan and you get the funds typically within 24 hours.
For example, let’s say John was injured in a car accident and has sued the responsible party. He needs funds to pay for his living expenses while he waits for the resolution of his case. He applies for a lawsuit loan with LawsuitLoans.io, providing details about his injury and legal case. We then contact his law firm to learn more about the lawsuit. After reviewing the case and considering the potential outcome, we approve John’s application and send him a contract to sign. Once he returns the signed contract, we disburse the funds to him. This whole process is simple, transparent, and efficiently managed to ensure that John isn’t left stranded as his lawsuit progresses.
How Much Money Can I Get From my Lawsuit Loan?
LawsuitLoans.io provides lawsuit loans that can range from $500 – $1,000,000+. The amount we can advance to you largely depends on your unique situation and where your legal case currently stands. If your case is still in progress, we can advance up to a maximum of 25% of your expected portion of the settlement. Alternatively, for settled cases, we can offer up to half—or 50%—of your expected portion of the settlement.
Let’s look at an example. Suppose you are a plaintiff based in South Portland caught up in a car accident case. Your case has an estimated value of $100,000 and it won’t be settling any time sooner. After making sure medical providers receive their dues, typically around one-third of the settlement amount, and setting apart your attorney’s fee—which also comes to about one-third of the settlement—you will be left with $35,000. In such a case, LawsuitLoans.io can come to your financial aid by advancing you approximately 25% of that amount. Which means you can receive a lawsuit loan of around $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 South Portland?
Plaintiffs in South Portland seeking pre-settlement lawsuit loans can receive funds quite quickly. Once you, the plaintiff, have submitted your application, our team at LawsuitLoans.io swings into action immediately. Our goal is to provide prompt and efficient services to our clients.
This process is simple and straightforward. After you submit your application, we review your case meticulously. We understand that legal procedures are often lengthy and stressful, which is why we aim to provide decisions within 24 hours after your application has been submitted.
Let’s take an example to explain this better. Suppose John Doe, residing in South Portland, submits an application for a pre-settlement loan at 9 am on a Monday. Our team at LawsuitLoans.io will immediately start reviewing his case. In most scenarios, John should expect a decision related to his application by 9 am the following day, Tuesday. Once approved, the funds are dispatched precipitously.
Therefore, the waiting period for a decision on your pre-settlement lawsuit loan is typically 24 hours. Note that the actual disbursement of funds may vary based on individual bank policies or other procedural factors.
We at LawsuitLoans.io strive to make the pre-settlement funding process as swift and smooth as possible, ensuring you have one less thing to worry about while navigating your legal proceedings.
Pros and Cons of Pre-Settlement Funding in South Portland, Maine
Choosing to secure a pre-settlement funding arrangement can provide multiple benefits for lawsuit plaintiffs. One of the major advantages is the immediate access to needed funds. This allows you to meet financial obligations without adding extra stress during an already stressful time. Moreover, having your finances in order might help you avoid settling your case too early. Let’s not forget, an obvious benefit of pre-settlement funding is its non-recourse nature. This means you only pay back if you win your case.
Despite these benefits, it’s also important to consider the potential downsides. Pre-settlement funding often comes with higher interest rates compared to other loan alternatives. In addition, the lack of regulation in some states leaves room for exploitation and fair dealing concerns. Lastly, pre-settlement funding typically requires a well developed case and an attorney working on a contingency basis.
Get up to $500,000 With Rates as Low as 2.5% Simple, Monthly
South Portland Pre-Settlement Funding FAQs
At LawsuitLoans.io, we strive to make pre-settlement funding as easy and transparent as possible. Here, we’ve compiled some of the most frequently asked questions from South Portland residents about our lawsuit loan service.
How much does it cost to get a lawsuit loan?
The cost of a lawsuit loan can vary based on numerous factors, including the expected value of your lawsuit and the amount of time it takes for your case to settle. At LawsuitLoans.io, we offer competitive rates and will work with you to ensure you understand all costs before moving forward.
Do I qualify for a lawsuit loan?
Eligibility for a lawsuit loan largely depends on the circumstances surrounding your personal injury or legal claim. You must have a pending lawsuit with strong merit and be represented by an attorney to qualify for pre-settlement funding. Contact us at LawsuitLoans.io or at our toll free number (800) 340-4973 to find out if you qualify.
If you have bad credit, can you get pre-settlement funding in Maine?
Absolutely. At LawsuitLoans.io, we base our funding primarily on the strength of your legal case, not your credit score. Even if you have bad credit, if your case is strong, you may still qualify for pre-settlement funding in Maine. For further information, navigate to our funding application.
Get Started
Apply today and get funds in as little as 24 hours!
South Portland, ME Cases we Fund
LawsuitLoans.io provides funding for various personal injury and roadway accident cases in South Portland. Read more about the personal injury cases we fund in South Portland 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 South Portland here:
Does LawsuitLoans.io Directly Fund Cases in Maine?
While LawsuitLoans.io operates as a direct funder in most states it services, we act as a broker and originate funding requests to a select group of partner funding companies in Maine.