What Types of Lawsuit Loans Can You Access?

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(Newswire.net — August 10, 2022) — A lawsuit loan is a short-term financing option available to people involved in a serious incident, such as an accident or medical malpractice. The money you receive can be used to cover your legal expenses and other bills that are related to the incident. Knowing some of the lawsuit loans you can access is essential.

Medical Funding

Medical funding is a short-term loan used to pay medical bills. If you have no other options, this type of lawsuit loan could be what you need to help manage your expenses. It helps you to continue living your life as normally as possible.

Medical funding for personal injury cases is only available in certain states and situations. For example, Los Angeles lawsuit loan funding is most accessible to Los Angeles residents. To qualify, you need health insurance coverage or at least some money set aside in your bank account if an unexpected medical bill arises. The amount of money given is determined by the coverage the defendant has accepted responsibility for.

Pre-Settlement Lawsuit Funding

Pre-settlement funding is a loan that you can get before your case settles. It’s not a settlement; it’s access to money that you can use now. If your case settles without going to trial (and most cases do), then the lender will be repaid by your settlement. If your case doesn’t settle, they won’t be repaid. There are several reasons why people choose to take out pre-settlement loans:

  • To pay bills or debts
  • To continue living as usual while waiting for their cases to settle
  • To keep paying for costs like childcare or housing during the lawsuit process

Personal Injury Loans

Personal injury loans are used to pay for a wide variety of expenses. The primary use of personal injury loans is to cover medical bills following an accident. However, these loans can also cover living expenses and legal fees. They are obtained through a private lender or bank that caters to those who need money fast.

The most common type of personal injury loan is borrowed from a private lender who doesn’t need any collateral or credit check. You fill out an application and wait for approval before receiving your funds in as little as 24 hours (sometimes even less). This loan will generally require you to make monthly payments over several months. You should pay off the total amount within 12 months.

Lawsuit Loans Online

Lawsuit loans online are a fast and convenient way to get the money you need while waiting for a settlement. You can apply from the website of any legitimate lawsuit lending company.

This means you will not have to wait in line at a bank, fill out paperwork or worry about being turned down because of your credit score or job status. With online loans, there’s no need for employment verification, personal questions, or collateral. The lender is confident enough in their ability to pay back the loan that they don’t require additional security measures.

The application process usually takes less than an hour. It often requires basic information such as your name and contact information (email address). After submitting this data, you will receive an answer within minutes about the approval or denial of your application. If approved, funds are deposited into your account within 24 hours. 

Medical Funding for Personal Injury Cases

Medical funding for personal injury cases is a financial tool that helps accident victims pay for medical treatment. Your medical expenses can quickly add up if you’re involved in a car crash, slip, fall, or other accident. This is why it’s so important to have access to funding to cover those costs; otherwise, you may end up struggling with debt for years.

As with most lawsuit loans, there are several benefits of this type of financing:

  • You don’t need good credit. 
  • You don’t need collateral. 


The best lawsuit loan company should provide options that suit your needs and expectations. They provide you with a free quote to compare their services against other companies in the marketplace. It is essential to remember some lenders charge a higher interest rate than others, but they may offer more flexible repayment options.

About the author: James K. Camper

Growing up in a family where asbestos-related cancer, lawsuits, and attorneys seemed to be the main conversation topic for a few years left a mark on me. One powerful enough to nurture an unrelenting seeking of truth and justice. I spent my teenage years volunteering in hospice centers and nursing homes and I went to law school to learn how to defend the defenseless. I don’t want to become “just a lawyer” when I finish next year. I want to become a voice and an advocate for all those who need their rights protected. The articles I write for various legal magazines and online platforms are my way to inform, educate, and help people around me, just like others helped my family in their time of need.