Workplace Injury Cash Advances & Legal Funding

Who Is Eligible for a Workers Comp Lawsuit Loan?

To qualify for a workers comp lawsuit loan, you typically need to meet the following conditions:

• You must have an active or pending workers’ compensation claim.

• Your injury or illness must be job-related.

• You must be represented by a licensed attorney.

• The claim must have sufficient estimated settlement value.

Lenders like Mayfair Legal Funding assess eligibility based on the strength of your case, not your financial history. If you meet the above criteria, you likely qualify.

📞 Unsure if you’re eligible? Call Mayfair today for a free case assessment or contact us on our secure quick-response page.

What Types of Injuries or Claims Are Funded?

Most lawsuit funding companies—including Mayfair—provide advances for a wide range of workers’ comp cases, including:

• Slip, Trip, and Fall Accidents – Wet floors, cluttered spaces, uneven surfaces, or poor lighting.

• Overexertion – Lifting heavy objects, pushing, pulling, or repetitive movements leading to muscle strains or back injuries.

• Falls from Heights – Ladder accidents, falls from scaffolding or roofs.

• Being Struck by Objects – Objects falling off shelves, machinery-related accidents, tools or materials falling or thrown unintentionally.

• Machinery and Equipment Accidents – Misuse, malfunctioning equipment, lack of safety guards or training.

• Vehicle Accidents – Driving company vehicles, forklifts, or heavy equipment collisions.

• Repetitive Stress Injuries – Carpal tunnel syndrome, tendonitis, or chronic back pain due to repetitive tasks.

• Exposure to Hazardous Materials – Chemicals, toxic substances, asbestos, or fumes causing respiratory or skin issues.

• Workplace Violence – Assault, threats, robberies, or disputes between workers.

• Burns and Electrocution – Electrical hazards, fires, explosions, or hot surfaces.

• Occupational Diseases – Illnesses from long-term exposure to noise, dust, radiation, or environmental factors (e.g., hearing loss, respiratory disease).

The nature of the injury and the clarity of employer liability play a major role in determining approval and funding amount.

What Is the Application Process for Workers Comp Loans?

The application process for a workers comp loan is straightforward and attorney-coordinated:

1. Submit an application online or by phone.

2. Provide contact information for your attorney.

3. Underwriting team evaluates your case within 24–48 hours.

4. Funding is disbursed, usually via direct deposit.

Mayfair Legal Funding simplifies the process by working directly with your lawyer to collect documentation and confirm case details—saving you time and stress. More info on the time it takes to receive your lawsuit loan check.

🚀 Apply online today with Mayfair Legal Funding and receive your funds within 24 hours.

What Are the Pros and Cons of Workers Comp Lawsuit Loans?

✅ Advantages:

• Immediate cash when you need it most

• No credit checks or income requirements

• Risk-free: no repayment if your case loses

• Flexible usage: cover rent, bills, groceries, or medical expenses

⚠️ Disadvantages:

• Higher cost than traditional loans

• Interest accumulates over time

• Potential reduction in final net settlement

• Not regulated equally in all states

What Are the Interest Rates and Fees for Workers Comp Lawsuit Loans?

Interest rates for workers comp lawsuit loans usually fall between 2% and 4% per month, depending on the funding provider. Most lenders use monthly compounding interest, which increases the total cost the longer your case remains unresolved. This can lead to an effective annual rate of 36% to 60% or more.

Some companies offer flat-fee pricing instead, charging a fixed percentage (often 15% to 25%) regardless of how long the case lasts. While flat fees provide predictability, they may be more expensive than compounding interest for short-term loans.

In addition to interest, certain fees may apply:

• Processing fees: $100 to $500

• Underwriting fees: 5% to 10% of the loan

• Broker fees: Only if arranged through third-party brokers

• Early repayment penalties: Some lenders charge if the case settles quickly

For example, a $5,000 loan at 3% monthly interest held for 12 months could cost over $7,000 in total repayment. The same loan with a 20% flat fee would cost just $6,000.

Mayfair Legal Funding offers both capped interest and flat-fee options, never charges early payoff penalties, and provides full fee transparency. We offer some of the lowest rates in the industry (see more details here).

How Much Can You Get From a Workers Comp Loan?

The amount you can borrow is directly tied to the estimated value of your workers’ comp settlement. Most lenders advance between 10% and 20% of the expected settlement amount.

• Typical loan amounts: $500 – $50,000

• Repeat advances: Possible as the case develops

• Lender evaluation: Based on injury severity, liability, jurisdiction, and medical records

What Happens if the Case Is Lost?

If you do not win or settle your workers’ comp claim:

• You owe nothing.

• The loan is fully non-recourse.

• You keep the money already advanced.

This protects injured workers from expensive legal fees and lending points and other types of expenses if their case is unsuccessful. The funding companies assumes the risk so you don’t have to, otherwise they wouldn’t be able to stay in business.