You might be on track to win a lawsuit settlement or award in North Dakota, but it could be several weeks, months or longer until you receive the money. Legal funding, also referred to as pre-settlement or lawsuit funding, can provide fast financial relief to sustain you during the waiting period.
Legal funding can be a viable alternative to a traditional loan. The process allows you to take a cash advance against your future settlement, which you can use as you see fit to pay legal bills, cover living expenses, reduce medical debt or repair your vehicle.
How Does North Dakota Legal Funding Compare to a Regular Loan?
North Dakota lawsuit funding differs from a loan in several key areas.
Repayment
You must repay a loan, typically in regular installments over a set period. You are still responsible for repaying the outstanding amount, even if you ultimately lose your case.
In contrast, lawsuit funding is considered a non-recourse transaction. Because you receive the proceeds as a cash advance against a potential future settlement, you will not go into debt if you lose your case.
Creditworthiness
Obtaining a loan requires undergoing a credit check and a possible review of financial statements to determine your eligibility.
North Dakota pre-settlement funding companies aren’t concerned about your credit history. They base their decision on factors like the strength of your lawsuit and the likelihood of your winning a settlement.
Risk
The risk for plaintiffs is higher with a loan than a legal funding transaction because a borrower must repay their loan regardless of the case’s outcome.
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Cases Funded in North Dakota
North Dakota pre-settlement funding most commonly applies to personal injury cases. This legal area encompasses various situations where an individual suffers harm due to the negligent or intentional actions of another.
Typical examples in North Dakota include:
- Vehicle accidents
- Medical malpractice
- Wrongful death
- Nursing home abuse
- Native American tribal law disputes
- Animal bites
- Environmental lawsuits
Restrictions for Legal Funding in North Dakota
North Dakota does not have laws banning, restricting or regulating the practice of lawsuit funding, and there is currently no proposed legislation for regulation. It is legal, and state courts typically honor the validity of the contracts as long the funding entity does not interfere with the legal case.
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How to Apply for North Dakota Legal Funding
To apply for lawsuit funding in North Dakota, find and contact a company that offers these services. Complete the application and include the requested personal information and details of your case. You’ll also generally need attorney representation to secure the funding and provide their contact information with your application.
The funding company will evaluate your application and, upon approval, make an offer for your review.
Your pre-settlement funding consultation is free - contact us today!
Why Trust Us?
Pegasus Legal Capital, LLC is an experienced legal funding company with an excellent reputation serving clients in North Dakota and nationwide. Our ethical lawsuit funding practices enable you to choose us with total confidence and peace of mind. Your well-being is our top priority, so we can make legal and medical resources available for further support if needed.
As a Pegasus client, you will appreciate our unwavering commitment to transparency throughout the application process and beyond. By being upfront with our clients, we build trust and establish ourselves as a credible funding partner in North Dakota in all types of pre-settlement situations.
Contact Pegasus Legal Capital, LLC for Legal Funding
At Pegasus Legal Capital, we can help with all your North Dakota pre-settlement funding needs. Our fast process enables you to receive funds quickly, often within 24 to 48 hours of approval. Our competitive interest rates will allow you to keep more of your well-deserved legal settlement. Call 855-386-3968 or fill out our quick online application form.
Your pre-settlement funding consultation is free - contact us today!
