Need Cash Before Your Settlement?
Personal injury litigation can take much longer than most people appreciate. We realize that as you await a settlement, your bills continue to pile up.
A settlement loan from Easy Legal Finance can help bridge the financial gap while your lawyer fights to ensure you obtain a fair settlement.
You are eligible to apply for a settlement loan if you have hired a lawyer and have an active personal injury claim, including:
- Slip and Fall
- Motor Vehicle Accident
- Short‐term and Long‐term Disability
Our Application Process
We speak with your lawyer and review your case to assess your application. Our client service team can recommend a settlement loan solution that best meets your needs.
Our Lump-Sum Loan solution allows you to access the full loan amount, for payment at one time. There is no maximum amount, but we do encourage clients to only borrow what they need.
Our Facility Loan solution acts as a line of credit where interest only accrues on the amount advanced. We’ll approve the loan amount, allowing you to withdraw funds as needed. You may also choose to set up a monthly schedule for budgeting purposes.
Our Treatment Loan solution allows you to focus on your health and wellness while we handle the administrative and economic burdens resulting from your injuries. This solution acts as a line of credit where interest only accrues on the bills we pay on your behalf, which are sent to the Treatment Providers you are working with, to support your recovery.
Our Terms and Fees
|Interest Rate||24% per year, compounded semi-annually. Six months up-front interest.||24% per year, compounded semi-annually. Six months up-front interest.||24% per year, compounded semi-annually. Six months up-front interest.|
|Proof of Income||None||None||None|
|Credit check/collateral required||None||None||None|
Frequently Asked Questions
No, your interest rate with Easy Legal Finance will not change. The rate you start with is
the one you maintain for the life of your settlement loan.
There is no application fee. There is a one-time administrative fee of $375 for our Lump-Sum Loan and $475 for our Facility and Treatment Loans.
You pay back your loan once you receive a personal injury award or settlement. Up until
that point, Easy Legal Finance does not require monthly or interim payments.
Our settlement loans are non-recourse, which means if you legitimately lose your case, you owe us nothing. We assume 100% of the risk.
Structured settlements were introduced by the Government of Canada, to invest settlement monies on behalf of those made vulnerable by injuries, in something that is not likely to be lost prematurely.
These settlements are available, upon the consent of the casualty insurance company or by court order, and are purchased by the casualty insurance company on behalf of the claimant. They are only available at the time of settlement. As they are non-assignable, non-commutable and non-transferable by law, Easy LegalFinancing cannot loan against these investments.