We provide pre-settlement funding (also called a legal advance) to individuals with pending personal injury or negligence cases.
Pre-settlement funding is a contingency-based advance. While it is sometimes referred to as a “lawsuit loan,” it is not a loan, and repayment is only required if the case is successful.
Repayment is made solely from settlement proceeds, and if the case is not successful, the claimant owes nothing.
Pre-settlement funding can sometimes be a distraction for the claimant or attorney if advances exceed the individual’s actual needs. At Salvo Park, we carefully manage funding requests to match the claimant’s requirements. We encourage claimants to contact us directly with any questions or additional requests, while their attorneys focus on managing the legal case. We coordinate with the attorney before any advances are issued.
All funding is non-recourse, meaning repayment is only required if the case is successful.
We generally advance up to 10% – 15% of the estimated value of the pending lawsuit. As indicated, we advance only those funds necessary to meet a Claimant’s current financial obligations and living expenses.
Any pre-settlement funding provided is repayment-only from the settlement proceeds once the case is resolved and funds are distributed by the claimant’s attorney.
Salvo Park encourages claimants to explore conventional financing options before requesting funding.
We do not interfere with the attorney’s handling of the case. Decisions regarding how to proceed with the case remain entirely under the control of the claimant in consultation with their attorney. Salvo Park has no authority over these decisions.
Note: Claimants should discuss any funding requests with their attorney before submitting an application.
A personal injury can significantly limit a claimant’s ability to work. Additionally, legal claims can take months or even years to resolve.
During this time, a claimant’s living expenses continue, and they may not have enough funds to cover basic needs. Pre-settlement funding can help provide support during this period.
Common uses of pre-settlement funding include:
Salvo Park reviews the claimant’s financial needs and provides pre-settlement funding based on those needs. Funding can be issued as a single advance or as multiple advances on a periodic basis (e.g., monthly).
We will work with the Claimant to create a personal budget of monthly expenses, which can be used while the case is being settled. This service is totally free of charge.
To begin the process, the claimant provides some basic information. This can typically be completed in just a few minutes, and we are happy to assist in compiling the necessary details.
Once the case is reviewed and the pre-settlement funding agreement is signed, funding may be provided based on the claimant’s needs. This review includes conversations with the claimant’s attorney and inspection of documents that substantiate the claim (e.g., accident reports, medical records, insurance coverage verification, etc.).
If you have questions about our online application process, call us at 585-867-1395. You can also reach us by email through our website’s secure contact page.