Instant Answers for Attorneys
Injury Advance Corp. has provided answers to questions we commonly receive from attorneys whose clients are interested in obtaining an Injury Advance.
Who can apply for an Injury Advance?
Plaintiffs and potential plaintiffs who have not filed claims but who are represented by attorneys can apply for an Injury Advance.
Please note that we do not provide Injury Advances in Ohio, or to individuals under the age of 18.
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Does an Injury Advance work like a traditional loan?
No, an Injury Advance is not a loan. Injury Advance repayment is contingent on your client’s settling or winning his or her lawsuit. If the client does not win the case, your client owes us nothing.
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Are there any fees to pay up front with an Injury Advance? Will there be monthly payments?
No. Repayment of an Injury Advance is due at receipt of the settlement or award. There are no monthly payments associated with an Injury Advance.
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What is the cost?
The use fee is 3.49% per month, plus a small application and processing fee.
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How long does it take to receive an Injury Advance?
If we approve your client’s request for an Injury Advance, we can provide your client with an advance immediately at Cash Center locations throughout the country.
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What are the minimum and maximum Injury Advances my client can receive?
Injury Advance will advance as little as $500 and as much as $100,000.
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How do you determine the amount of an Injury Advance?
The amount of any Injury Advance depends on the plaintiff’s needs and the estimated value of the claim. In determining the amount of the Injury Advance, we will consider the facts and law relating to the claim, liability, the venue where the case will be tried, and the insurance company involved in the lawsuit, if any.
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What role do I play in my client's Injury Advance application?
If your client would like to apply for an Injury Advance, your client must complete our application and disclosure form. This form authorizes Injury Advance to contact you about the claim so that we can begin the evaluation and underwriting process. We might ask you to provide medical reports, emergency room reports, accidents reports, expert testimony, insurance information, information about the current status of the litigation, and any other details that would help us to make our decision. If, after reviewing the application, Injury Advance Corp. approves your client’s Injury Advance request, we will enter into a Funding Agreement with your client.
The Funding Agreement will set forth the amount of the Injury Advance and the amount owed to Injury Advance if the plaintiff secures a settlement or award. Other than providing preliminary information in the application process and acknowledging our assignment, you will have no contact with Injury Advance Corp.
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Will monthly usage fees apply to the amount of the Injury Advance?
Yes. Because Injury Advance Corp. is taking a risk in providing Injury Advances to plaintiffs and attorneys, we charge monthly usage fee of 3.49%. If there is no viable alternative financing source, Injury Advances provide an excellent solution.
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Will Injury Advance Corp. get involved in my client’s case?
No. We will not interfere in your client’s case. Injury Advance Corp. will collect information about the case in making its approval decision. After that we will have no involvement in the case. Our underwriting team and credit committee will be unobtrusive and ask only for a few targeted documents, such as a police report, medical information, or insurance policy information. All information will be kept strictly confidential. Injury Advance Corp. will not intervene in any way with the lawsuit.
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What if I don’t want my client to obtain an Injury Advance?
If you do not want us to fund any of your cases, please let us know so that we can cease all application activity. However, we hope that you will take the time to get to know more about Injury Advance Corp. and our services before coming to any conclusion. Please feel free to contact us with any questions you may have.
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Is the Injury Advance product legal?
Yes. Injury Advance Corp. provides lawsuit funding in every state except for Ohio. The laws in every other state recognize the need for Injury Advances, in which traditional finance companies won’t engage. We provide a tremendous service that aids clients with paying food, mortgage, medical, and other bills while a claim is ongoing. For more about the legality and ethics of lawsuit financing, please view our Ethics Opinions page.
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For further information or to
apply for an Injury Advance please call
1-888-565-4488
