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Getting Started with Legal Funding FAQ’s

If you are involved in a solid legal claim and hired an attorney you may be eligible for a lawsuit cash advance.

No! Our advances are non-recourse meaning you are not legally obligated to repay us if you lose your case.

We are able to reach a decision after we receive sufficient information from you and your attorney in one business day. For example, if you apply at 9am in the morning, you will have your approval at 9am the next day. The clock starts ticking when we have enough documentation.

There are no upfront fees whatsoever! You are only obligated to repay the advance once your case successfully settles. If you lose your case, you keep the money we gave you and owe us nothing.

We are investing in a small portion of your expected settlement, so like any investment, there is a risk. Because it is not a loan, it does not affect your credit score or ever appear on your credit report.

That just tells us that you have a fundable case! If another funding company found your case solid, that tells us you have a fundable case.

There are a lot of factors which determine the amount of funds you can get which are based on the merits of your case. For example in a personal injury case, if the case value is $50,000 with enough insurance coverage, we can fund as much as $7,500.

No. Think of your case as collateral. No employment verification and no credit check are involved.

If your no-fault benefits or insurance coverage has been denied and you need immediate medical treatment, we can help you get the treatment you need. We have a vast network of medical professionals that can help you get back on your feet.

Legal Funding FAQ’s

Although every circumstance is unique, there are a few basic inquiries that you might want to think about addressing with the pre-settlement financing companies you are thinking about working with. Keep in mind that requesting details does not oblige you to submit an application, sign any documents, or decide to work for them immediately.

When a plaintiff seeks pre-settlement funds, Mayfair assesses the:

  • Case’s merits; and
  • The prospect of a successful resolution

The plaintiff often obtains a cash advance after simply a few hours or days of being granted. The total amount of the advance is determined by the projected value of the settlement or judgment. We are paid back straight from the settlement sum once the case has been resolved.

  • Financial Stability: Pre-settlement funding offers plaintiffs who may be having trouble paying their bills during the litigation process urgent financial relief.
  • Non-Recourse: Pre-settlement funding is non-recourse, so if you lose your case, you are not obligated to repay it to Mayfair
  • No Credit Check or Employment Verification: Pre-settlement funding does not necessitate a credit investigation or proof of employment in contrast to conventional loans.
  • No Monthly Payments: Since the advance is only paid back once the case is resolved or a judgment is awarded, plaintiffs have no reason to be concerned about repaying payments on a monthly basis while the case is pending.
  • Flexibility: Plaintiffs are free to spend the money any way they see suitable, including to pay for living expenses, healthcare costs, or more legal assistance.

Mayfair takes into account personal injury cases including workplace accidents, medical malpractice, auto accidents, and product liability. The plaintiff must have a legitimate and perhaps compensable claim to be eligible for pre-settlement funding.

Furthermore, as we only approve loan requests from applicants who have already retained counsel for their litigation, a lawyer can assist you with obtaining pre-settlement funding for your legal matter.

To evaluate if the case is eligible for funding, we will examine the specifics of the case alongside your lawyer.

Pre-settlement funding applications are simple to fill out. The plaintiff or their lawyer files an application to Mayfair with information regarding the case and the anticipated settlement or judgment. After reviewing the application, we could ask for more supporting documents or material. In most cases, the plaintiff obtains the cash advance within a few hours or days of it being granted.

Pre-settlement funding can be a better option if you need a cash advance on your personal injury compensation. Here are some reasons why you should consider this source of funding:

Quick approval procedure

Our standard processing time for approving a pre-settlement funding application takes a few hours.

Absolute Transparency

Our contract and pricing are really transparent. Neither compound interest nor unstated borrowing fees are involved.

Dedicated and Passionate Staff

Your comfort is the number one concern of your assigned case manager. If you have any inquiries about legal or the pre-settlement funding procedure, contact us quickly by email or by calling.

Only Repay Us If You Win

Unlike a conventional loan, you owe us absolutely zero if your lawsuit is unsuccessful. This is a commitment made to you by Mayfair.

Pre-settlement funding is surrounded by several myths. Let’s talk about a few of the more prevalent ones:

  • It’s a Loan: pre-settlement funding is a non-recourse monetary advance secured by the potential settlement or judgment of the litigation, therefore, it is not by a loan but a cash advance.
  • It’s Expensive: although pre-settlement funding entails fees, the prices can differ amongst funding firms. Comparing terms and costs is essential before choosing a funding company.
  • It Will Affect the Case’s Results: pre-settlement funding has no bearing on the litigation or the settlement sum. It is a means of providing assistance to litigants financially while they wait.

Pre-settlement funding might not prove to be the most suitable choice for you, nevertheless, there are other options available. Read on what follows:

  • Personal Loans: You can be eligible for an individual loan from a bank or credit union contingent upon your credit score and financial state.
  • Friends and family: Ask your loved ones for short-term financial support.
  • Negotiating with Creditors: Talk to your creditors and look for ways to minimize or postpone payments.
  • Legal Aid or Pro Bono Services: If you require legal assistance but you’re financially burdened, consider opting for legal aid or pro bono programs.

Although every circumstance is unique, there are a few basic inquiries that you might want to think about addressing with the pre-settlement financing companies you are thinking about working with. Keep in mind that requesting details does not oblige you to submit an application, sign any documents, or decide to work for them immediately.

Are there any upfront costs or application fees?

If there is a charge associated with submitting an application, ask the pre-settlement funding company. Certain companies do charge for applications. Others, like Mayfair, will review your application without charging you.

How soon can I expect to get my pre-settlement funding cash advance?

The majority of trustworthy pre-settlement funding providers will be able to deliver the money to you around one to three business days after you have finished your application and been given approval for pre-settlement funding.

Which state do you serve, and where are you based?

Verify that the pre-settlement funding company can work with the residents of the state you reside in by contacting them. Although the business need not be situated in the same state as you so as to offer funds to residents of that state, it might, however, be required to be licensed or authorized there. A few states further regulate lawsuit funding and place limitations on it.

What if I presently have a pre-settlement funding firm cash advance?

The newly acquired funding company will probably demand that the prior financing be repaid with the new funding if the plaintiff has already transferred a portion of their revenues to a different funding company. When the worth of the case does not support more funding, the sum of the previous funds may occasionally hinder further funding.

Furthermore, some jurisdictions have regulations in place that put restrictions on the total sum of advances that plaintiffs are permitted to obtain. An additional pre-settlement finance provider will probably not want to engage with you if you are on the verge of or already passed this ceiling.

Seek Pre-Settlement Funding From Mayfair Today

Pre-settlement funding is a useful resource for plaintiffs in personal injury cases. It offers crucial financial assistance while a settlement or judgment is underway. Plaintiffs can decide if pre-settlement funding is the ideal choice for their particular situation by being aware of the procedure, advantages, and possible drawbacks.

We take care of the rest by delivering the required documentation to your lawyer once you give us the name and contact details of your legal counsel. Your attorney will reimburse us from the settlement or jury award sum in the event that you prevail in your lawsuit.

There is no reason for you to stress about financial matters if you have been in an accident. The team of professionals at Mayfair is on standby 24 hours a day to go over your pre-settlement financing possibilities.

For further details or to start the application procedure, call (888) 357-1338 or apply now.