What Is a Lawsuit Loan (Lawsuit Cash Advance) And How Is It Repaid?
A lawsuit cash advance is most often referred to as a lawsuit loan* in the litigation funding industry. However, a lawsuit loan is technically not a loan. It is treated as an investment in the potential settlement proceeds of your case. Since Salvo Park is the investor, we assume the risk of loss.
When we provide you with a lawsuit loan, we file a lien on the proceeds of your case. It is nonrecourse to you. This means you owe us nothing unless you settle or win your case. If your case is successful, we are entitled to be repaid only out of your settlement proceeds.
If you lose your case you owe us nothing and you keep the cash we transferred.
*A lawsuit loan is referred to in a number of ways, including: lawsuit cash advance; pre settlement funding; legal funding; lawsuit funding; litigation funding; lawsuit settlement loan; personal injury lawsuit loan; personal injury loan; pre settlement loan, lawsuit advance; and, lawsuit financing.
Is this Expensive? How Does Salvo Park Compare to Its Competitors?
At Salvo Park our rates and fees are among the lowest in the industry.
Our goal is to minimize the amount of lawsuit loans to what you actually need. By doing so, we help you maximize the amount of money you will actually receive when the case is settled!
That’s one reason attorneys love working with us! This approach separates us from our competitors and makes us the gold standard in the industry!
- It is our policy to advance only funds necessary to meet the injured party’s current financial obligations and living expenses.
- Upon request, Salvo Park also provides a free financial advisory service to help the injured party budget their money over time until the case is settled. If beneficial, we also provide arrangements to transfer funds on a periodic basis. This helps to reduce the overall amount of funds needed.
- As a normal step in our process we always review alternative sources of funds that might be available to the injured party. There are even cases where we identified free sources of funds to reduce or eliminate the lawsuit loan(s) needed!
How Do I Get Started?
It’s your choice
You can simply complete our online application to apply for quick cash now, or
You can e-mail us general information or questions and we will promptly call you, or
At any time, please fell free to contact one of our representatives for assistance or to answer your questions. Our phone number is 585-867-1395.
Am I Eligible for a Lawsuit Loan from Salvo Park Funding, LLC?
You are very likely eligible for a lawsuit loan if you have been wrongfully injured in any way and are currently involved in a lawsuit to collect damages for your injuries. Click here to see the types of eligible claims
Your credit and employment history are not considered.
How Much of a Lawsuit Loan Will Salvo Park Funding Give Me?
Our lawsuit loans range from $500 to $100,000. Historically, most of our advances have ranged between $1,000 and $15,000. The total cash advances are generally limited to 10% – 15% of your projected settlement value, depending on the facts of your case and your financial needs.
It is our policy to advance only those funds necessary to meet the injured party’s current financial obligations and living expenses.
Upon request, Salvo Park also provides a free financial advisory service to help you budget your money until your case is settled.
We can structure the lawsuit loan as one lump sum or periodic payments over time.
All these things help you to receive the minimum amount necessary. This maximizes the amount you put in your pocket when the case settles.
How Long Does It Take to Receive the Cash from a Lawsuit Loan?
Our turn-around time to send you money is one of the fastest in the industry!
After you request a lawsuit loan, we will discuss your case with your attorney and request certain documents, such as police records, accident reports, insurance verification etc.
We will promptly review the information within hours after it is received. Once approved and you and your attorney sign the documents, the funds can be transferred within 24 hours – often in the same day.
Do I Have to Pay Upfront Fees or Charges? Can I Cancel the Lawsuit Loan?
No. All amounts owed to Salvo Park are paid only out of the cash proceeds from your settlement claim. There is also a processing fee, but this is only paid to us if and when you settle your claim.
Prior to receiving the lawsuit loan we will provide you and your attorney with a summary schedule. This schedule clearly shows the amounts owed to us over time, if your claim is successful.
You can cancel at any time and for any reason within 5 days after you receive the money simply by sending it back to us. There is no obligation or cost to you.
What Role Does Salvo Park Funding, LLC Have in My Claim?
Salvo Park Funding, LLC plays absolutely no role in any aspect of your case. Any and all decisions regarding your case is left entirely left up to you, in consultation with your attorney.
Our only involvement is to initially review your case file so we can evaluate the claim. We will keep this information strictly confidential unless otherwise directed by you or a court of law.
We may request periodic updates regarding the status of you claim.
Does My Attorney Play Any Role in the Request for a Cash Advance?
We strongly recommend that you review your request for a cash advance with your attorney.