Now settlement loans sound great so far, but does any kind of case qualify for a settlement or pre-settlement loan? Not necessarily. It may depend on the region or state you’re in, but there are certain kinds of cases where you cannot get one. Typically cases where amounts aren’t into the five-digits award range potentially cannot qualify for a settlement loan.
Examples of what qualifies include: Auto Accidents, Breach of Contract, Class Action, Divorce Funding, Employment Discrimination, Fraud, General Negligence, Legal Malpractice, Medical Malpractice, Plane Crash, Product Liability, Securities Fraud, and Sexual Harassment, and there are others as well. According to statistics, medical and accident cases are the most frequent applicants for this type of loan.
No matter what kind of case you have, doing research to get the best terms for the loan is the best course of action; don’t always settle for the first offer you receive. Some companies see certain types of cases more favorably than others. Discimination and Fraud for instance are harder to prosecute legally, so these types of cases are harder to get pre-settlement loans for.