How Many Pre-Settlement Cash Advances Can You Get? A Guide for Plaintiffs

Pre-settlement cash advances serve as a financial lifeline for individuals navigating legal battles.

These funds provide crucial stability, allowing plaintiffs to meet financial obligations while waiting for their lawsuit to be resolved. One of the most common questions plaintiffs ask is, "How many pre-settlement cash advances can I obtain?" In this comprehensive guide, we’ll explore what pre-settlement cash advances are, the factors affecting eligibility, and insights into how many advances you may be able to secure.

Understanding Pre-Settlement Cash Advances

Before addressing the number of advances available, it’s essential to understand how pre-settlement cash advances work. These advances are a non-recourse financial product, meaning you only repay the advance if you win your case. Repayment comes from the settlement funds, and if you lose, you owe nothing. This makes it a less risky option compared to traditional loans.

Factors Affecting Eligibility for Pre-Settlement Cash Advances

Several factors determine eligibility for a pre-settlement cash advance. Each of these factors is critical, as they influence how much you can receive and whether you can secure additional advances.

• Type of Lawsuit: The nature of your lawsuit is crucial. Cases such as personal injury, medical malpractice, or product liability are typically more likely to secure funding, especially if they have a high chance of success.
• Attorney Cooperation: Your attorney must be willing to work with the funding company, as they will be involved in the repayment process from your settlement.
• Strength of Your Case: Funding companies evaluate the likelihood of your case succeeding. A stronger case increases the likelihood of receiving more than one advance.
• Estimated Settlement Amount: The potential settlement value of your case plays a significant role. If the estimated settlement is substantial, you may be eligible for higher or multiple cash advances.
• Outstanding Advances: If you’ve already received an advance, it could affect your eligibility for more. Funding companies will review the total amount of advances you've taken out when considering additional funding.
• Other Financial Liabilities: While credit scores aren’t typically considered, financial liabilities such as bankruptcy or liens (e.g., child support) may impact your eligibility for pre-settlement advances.

How Many Pre-Settlement Cash Advances Can You Get?

The number of pre-settlement cash advances you can obtain varies depending on the circumstances of your case. Here are a few scenarios to consider:

• Multiple Ongoing Lawsuits: If you’re involved in several ongoing lawsuits, you might be eligible for advances on each case, provided they meet the funding criteria. Each case is evaluated independently.
• Sequential Cases: If you have separate legal cases over time, you may be able to get multiple advances—one for each case—if they meet the funding company’s standards.
• Larger Settlement Potential: If your case involves a large settlement, it increases your chances of receiving a higher advance or additional advances.
• Repayment Capacity: Your ability to repay existing advances through the settlement amount will also affect how many additional advances you can receive. Funding companies will assess whether your settlement can cover multiple advances.

Making the Right Decision

Pre-settlement cash advances are a useful tool for plaintiffs dealing with financial strain during legal proceedings. However, it’s important to do thorough research, work closely with your attorney, and explore various funding options before making a decision. The number of advances you can obtain depends on the specifics of your case and the policies of the funding company you approach.

For more information and to apply for pre-settlement cash advances, call PrimeCare Network at 888-474-8473 or Apply Now. PrimeCare Network provides pre-settlement funding, also known as consumer litigation funding, through various products depending on your state of residence or cause of action. In some cases, consumers will receive pre-settlement funding in the form of a purchase agreement, assigning a portion of the pending proceeds from their legal claim. However, in states like South Carolina and Colorado, a pre-settlement loan or lawsuit loan may be offered instead. It’s important to be aware of these distinctions and review any offer carefully to understand the type of transaction presented by any funding company.