Can I Get a Lawsuit Cash Advance Loan For a Mesothelioma Case?

This is a question we get pretty often here at My Legal Advance. The truth is that there are more and more mesothelioma cases every day–more and more families are discovering the harmful effects of their environment. And, most of the time, if you have a mesothelioma case, you’ve spent quite some time (and money!) in the hospital or treatment centers trying to handle your problem.

Well, the good news is that mesothelioma cases are fairly cut and dry–you’ve either got a case that a lawyer is willing to represent you on or you don’t. The funding process is the same. If you already have a lawyer representing you, there’s a high likelihood that you will be approved for funding (especially if your lawyer has accepted you on contingency payment).

The usual funding amount for a cash advance loan is 10% of your expected settlement. Of course, this is the usual approval amount only, and you never have to take all that you’re approved for. If you’re approved for a $100,000 loan (and mesothelioma approvals average fairly high), you can simply take $1000 of it if you wish ($1000 is the minimum settlement loan). You can also arrange a monthly or weekly plan where you can get the money as you need it, i.e. $4000 per month. The point is that your funding options are flexible.

The rates on a mesothelioma case loan will range from 1% to 4% depending on how far your case has come along in the process. For example, if the defendant has accepted liability there is a higher likelihood the case will settle and there is therefore less risk for the funding company (since you don’t owe anything if you lose your case, the funding company has to cover its risk).

– Jason Argall