FAQ: Lawsuit Loans

Q: What is the cost of a LawMax lawsuit loan?

A: There are no upfront costs to apply for a lawsuit cash advance from LawMax. Once you’ve received your advance, you will only need to repay it if and when you win your case or settle out of court. If this happens, your attorney will issue LawMax a check from the proceeds of your settlement to cover the advance and the accumulated fees. If you lose your case, you keep your advance and owe LawMax nothing.

Q: How do I qualify for a LawMax lawsuit advance?

A: There is no credit check or employment verification needed to apply for a lawsuit advance. Instead, you need to be the plaintiff in a lawsuit or legal claim, and you need to have engaged an attorney to represent you. You simply apply for the advance online or by phone. LawMax will request the necessary documents from your attorney and will evaluate your case for funding. LawMax will then be able to tell you whether you qualify and how large an advance you can receive.

Q: What is the interest rate for a LawMax lawsuit loan?

A: LawMax does not charge interest in the traditional sense, since interest is charged on a loan. Instead, because of the risk involved in offering this sort of financing, LawMax charges a “risk premium” which is a fee you will pay to LawMax if your case is successfully trailed. LawMax evaluates each request for funding on a case-by-case basis, so the risk premium varies from client to client. The risks involved and how long the case is expected to take to be resolved are just two factors that affect the fee that LawMax will charge. If you are approved for funding, LawMax will tell you the rate that will apply before there is any obligation on your part.

Q: How much cash can I get?

A: LawMax usually does not advance more than 15% of the expected settlement in any particular case. This is to ensure that there are enough proceeds from the settlement to cover attorney fees, repayment of the advance and payments to other lien holders, and still enough funds available for the plaintiff. Keep in mind, however, that plaintiffs who have received a lawsuit advance from LawMax can return to request additional financing, and LawMax will re-evaluate the case to see if additional funds can be advanced.

Q: Can I get an advance from LawMax if I already have a lawsuit advance from someone else?

Yes. You can apply for a LawMax lawsuit loan, and if LawMax approves you, LawMax will simplify your financial situation by paying off your previous lawsuit advance(s) and rolling it into one new LawMax advance.

Q: How long does it take to get a LawMax lawsuit loan?

You can apply immediately, either by calling LawMax at 877-788-CASH or by filling out a simple online form. Once LawMax gets the documents it needs from your attorney, we usually make a decision within 48 hours. Once you are approved and we have a signed agreement, we issue your check immediately. We can send the check by overnight delivery or wire transfer the funds to your bank account.

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