Litigation Funding Companies in the US
Litigation funding companies are readily available and easily searchable nowadays. This is due to litigation being an expensive and time-consuming process. Oftentimes, cases are not resolved for months or even years. In that time, plaintiffs will find themselves facing significant financial burdens long before their case reaches any kind of a resolution. This is where the importance of legal funding companies comes into play. Litigation funding companies exist to help victims and plaintiffs dealing with long litigation periods. What these companies work to offer is providing financial support to plaintiffs. Primarily those involved in lawsuits, helping to cover legal fees and personal expenses. Additionally, this funding process is usually done with attorney approval and an assessment of the case. Furthermore, in most instances, those who qualify and are approved can see funds in as little as 24 hours.
At Legal Bay, we understand how overwhelming it can be. Pursuing justice can cause not only emotional overwhelm, but financial overwhelm too. Be that as it may, this is why we want to share Insight on some of the best litigation funding companies. Truthfully, these are companies that can provide relief when you need it while you fight for your rights and compensation. Be sure to research top litigation funding companies so you can make the right decision. Legal funding is a great option, but it requires you making the best decision for yourself.
What Are the Best litigation funding companies in the US?
Looking for the best litigation funding companies? There are a few things to consider. Firstly, be sure to look for companies that offer a combination of transparency, reasonable terms, and flexibility. Any reputable companies will evaluate the merits of your case to see how strong your case is. Afterwards, you will get offered funding which can help cover costs like attorney fees, medical bills, and living expenses. These funds are available to you to use how you please. Keep in mind, lawsuit loans are considered non-recourse. Subsequently, this means you only pay if you win. That is why a lawsuit loan company will thoroughly research before offering you any funding. The risk for them is just as great.
Below, we’ve highlighted five of the top litigation funding companies in the US, known for their reputability and commitment to helping plaintiffs in need.
The 7 Best Litigation Funding Firms
When choosing a litigation funding company, it’s important to select one that aligns with your needs and offers competitive terms. Moreover, it’s important to research the company that best suits your needs. Here are five of the most highly rated litigation funding firms in the US:
1. Legal Bay
Legal Bay is a highly regarded litigation funding company. It specializes in pre-settlement and lawsuit funding. They work with a wide range of cases, from personal injury to commercial litigation, and are known for their transparent terms and fast funding process. With the lowest industry rates and best price guarantee, Legal Bay is a trusted choice. Especially for plaintiffs who need quick access to cash while waiting for their case to settle.
2. LexShares
LexShares is a popular choice in commercial litigation funding companies, particularly for cases involving high-stakes business disputes. They focus on investing in cases with significant potential returns and offer plaintiffs the capital they need to see their case through to the end. LexShares is well-known for its investor-friendly approach and dedication to helping businesses fight lengthy legal battles. Keep in mind, LexShares focuses primarily on providing lawsuit loans to companies and law firms. This means the main audience is businesses rather than individuals.
3. Omni Bridgeway
Omni Bridgeway is one of the global leaders in litigation funding for companies. Additionally, it has a strong reputation in the US market. They offer a wide range of funding solutions for commercial litigation, class actions, and patent litigation. Omni Bridgeway’s experience and financial strength make them a top choice for those seeking third party litigation funding for companies..
4. Burford Capital
Burford Capital is another heavyweight in the litigation funding world. This company provides extensive capital to both commercial and patent litigation cases. They are publicly traded and known for their transparency and high levels of funding. With a global presence and a history of large-scale litigation investments, Burford Capital has become a go-to option for many high-profile legal cases.
5. Harbour Litigation
Harbour Litigation is a well-regarded litigation funding company that focuses on providing financial support to plaintiffs with strong legal claims. They pride themselves on offering reasonable terms and helping clients gain access to the financial resources they need without adding unnecessary stress. Harbour Litigation is often praised for its excellent customer service and straightforward contract terms.
6. DLA Piper
DLA Piper is a litigation funding company that helps provide monies for pending litigation and arbitration claims. The company does this through its independent funding company called Aldersgate Funding Limited (AFL). DLA Piper prides itself in offering funds that allow plaintiffs to pursue legal claims risk-free. Especially for those who might not have been able to do so due to costs. It can provide tailored funding solutions for every type of claim.
7. Validity
Validity IP is a legal funding company that offers tailored litigation financing services. The company’s primary focus is to assist clients with safeguarding their intellectual property rights. If you are in the middle of a intellectual property lawsuit or need guidance, they are a great resource. Validity is also the first commercial litigation funder to achieve B Corp Certification.
What Is Litigation Finance?
Litigation finance is sometimes referred to as pre settlement funding. Coincidentally, it is a financial arrangement where a third party provides funding for a lawsuit. This is to help cover legal expenses in exchange for a portion of the settlement or award. Moreover, the funding company takes on the risk by providing non-recourse loans. If you lose the case, you don’t owe anything back. Subsequently, this is why top litigation funding companies are so stringent. They will review the details of your case and speak to your attorney. This information gathering helps the company make the most informed decision on whether to fund or not. Lawsuit loans are seen as an investment on the legal funder’s part. They take a risk if the likelihood of winning is in your favor.
This type of funding can be a lifeline. Especially for plaintiffs who cannot afford the upfront costs, such as attorney fees, medical bills, and expenses. Litigation funding allows individuals and businesses to pursue justice without draining personal resources. This is important because cases can take time to resolve. You could be looking at months or even years before you see a settlement award. The financial burden that comes with that can be staggering. This is why lawsuit loans are a great option for those who need help alleviating the financial burden.
What Should One Consider When Looking for A Litigation Funding Company?
When searching for a litigation funding company, it’s important to keep several key factors in mind. This helps to ensure you choose the right funder for your case.
1. Reasonable Interest Rates
Litigation funding typically comes with interest. This is why it’s so crucial to compare rates from various companies. Some firms charge higher fees than others. Additionally, make sure you understand the total cost of the funding before committing. For instance, Legal Bay offers some of the lowest competitive rates in the industry. Research and shop around first before deciding on a legal funder.
2. Clear, Straightforward Contract Terms
The best litigation funding companies offer transparent, easy-to-understand terms. Always review the contract carefully. Furthermore, ask your attorney to help you understand any terms that might be unclear. If a company is not clear on its terms or has a confusing contract, take that as a sign. Keep looking around. You want to make sure you understand what your contract states before agreeing to anything. If you are not sure, ask your attorney! It’s always better to be safer than sorry.
3. Control Over Your Lawsuit Matters
Some funding companies may try to exert influence over your legal decisions. Take this as another red flag. It’s important to work with a firm that respects your right to control your case. This includes any decisions you make. And if you are not sure, always consult with your lawyer. Look for companies that offer funding without trying to take control of your legal strategy. Remember, legal funders are a third party. They are meant to be neutral. If that boundary is crossed, then walk away.
Other Important Attributes to Consider:
Litigation funding is a crucial decision. For instance, you want to make sure the company you choose offers flexibility and solid protections. This is why researching companies is a great idea. Look around before you buy. Consult with your attorney. Look at reviews. Here are a few things to consider before you choose a litigation funding company.
1. Flexibility of Agreement
A good litigation funding company will offer flexible terms. Furthermore, you can repay the loan from your settlement or award without onerous conditions. This is an agreement that you sign after your attorney reviews the conditions. You cannot get a lawsuit loan without an attorney.
2. Immediate Accounting Benefits
Litigation funding can provide immediate accounting relief by covering litigation expenses. This benefit can be particularly important for businesses that are struggling to manage their legal fees. Be that as it may, it can also help individuals who need help alleviating financial burden(s). Some companies get funds to those approved in as little as 24 hours!
3. Freedom from Rising Interest Rates
Some litigation funding companies offer fixed interest rates. What do fixed rates do? They protect you from rising rates during the course of your case. Make sure to ask about this when reviewing funding offers. Legal Bay offers fixed interest rates that are some of the lowest in the industry. This is to help our clients keep more of their settlement once awarded.
4. Protection of Personal Assets
One of the key advantages of litigation funding is that it is non-recourse. This means that if you lose the case, your personal assets are protected. You won’t be required to repay the funding out of pocket. This is why legal funders go through so much trouble reviewing the details of your case and consulting with your attorney. The funder is taking the chance to provide the funding to you with no actual guarantee they will get their money back. If you lose, you don’t pay. You only pay if you win!
5. Sufficient Time to Build a Strong Case
Litigation finance allows plaintiffs to take their time and build the strongest possible case. All this without the financial pressure to settle early or accept a lower settlement than deserved. Lawsuit loans give you the ability to breathe easier. You can use the funds as you see fit. And you don’t have to take the first offer for settlement. Oftentimes, the first offer for settlement is usually the lowest. Legal funding gives you the ability to buy time. That way, you can get the settlement you deserve!
Three Steps To Your Cash Advance
Getting a lawsuit loan is a simple process designed to give you quick access to funds. Here’s how it works:
Step 1: APPLY for Lawsuit Funding
The first step is to fill out an application. It’s quick and easy, and we don’t require a credit check or proof of income. The application simply asks for details about your case and contact information for your attorney.
Step 2: REVIEW
Once your application is submitted, we review the strength of your case. Our team works with your attorney to assess the likelihood of a favorable settlement.
Step 3: FUNDING
If your case qualifies, you’ll receive your cash advance, often within 24-48 hours. The amount you receive is based on the estimated value of your settlement. You can use these funds to cover living expenses, medical bills, and other financial obligations while you wait for your case to settle.
Consult Us For Litigation Financing Solutions
Legal Bay is a trusted provider of lawsuit loans, offering fast and reliable funding to plaintiffs across the US. As one of the best litigation funding companies, we’re committed to transparency and customer satisfaction. No hidden fees or complicated agreements. Legal Bay ensures that you get the financial support you need. If your case is especially promising, your pre-settlement funding could be approved same-day! Same day pre settlement loans are definitely an option if your case is promising. Check out some Legal Bay funding reviews to see how we have helped clients get the funding they need.
If you have found yourself wondering “can I borrow money against my lawsuit,” but aren’t sure, look no further. Whether you’re dealing with a personal injury, workplace accident, or another type of lawsuit, Legal Bay is here to help. Contact us today to learn more about our pre-settlement funding options and take the first step toward securing the financial relief you need. Our expert team is standing by to answer your questions and help any way you need.
Ready to get started? Apply for Legal Bay lawsuit funding now and get the cash you need to keep your case moving forward. Contact us today to speak with a funding specialist and take control of your financial future.
