Legal Funding FAQ’s
FAQs for the Plaintiff
How do I apply?
Simply submit the application. We’ll review and do the rest!
Is there an application fee?
There is no application fee. It costs you nothing to apply to see if you qualify for a lawsuit cash advance.
How long does the process take?
We contact your lawyer immediately after receiving your application. Once we receive the appropriate documentation from your lawyer, you can have your cash in as little as 24 hours!
How much do you charge?
Our fees are taken out of your settlement funds. If you do not win your case you don’t owe anything.
How much do other companies charge?
Once you contact us, we can tell you the fees of most of our competitors. Often, their dissatisfied customers come to us for assistance. Viking Funds is transparent in its fee structure.
How much money can I receive?
We advance a minimum of $500.00. Most advances are 10% to 15% of the value of your case.
How is my advance repaid?
There is no repayment until the case is settled. Once the proceeds of the case are paid out, your attorney will forward the money owed to us from those monies.
Do you check my credit history?
We base our decisions on the strength of your case based on the documents your attorney provides to us. The transaction is considered a purchase of a part of your expected settlement award, not a loan, so you don’t need to worry about incurring more debt.
What happens if I don’t win my case?
If you don’t win your case, you owe us nothing. You ONLY repay Viking Funds if you settle or win your lawsuit. Essentially, it’s a win/win for you!
FAQs for Attorneys
How can pre- and post- settlement funding help law firms?
Pre-settlement Funding: When funding is provided to the plaintiff, the advance removes the financial burden. This keeps the plaintiff from accepting a quick settlement, thus allowing you the time to fight for a fair settlement. When the funding is provided to the attorney, the attorney then has the resources needed to fight for the fair settlement without paying trial expenses out-of-pocket. Essentially, pre-settlement funding allows both the plaintiff and the attorney the time and money needed to fight for the best outcome for the plaintiff... I.e… a bigger settlement for the plaintiff and higher fees for the attorney.
Post-settlement Funding: Even after the case is settled, the money is not readily available. Between appeals and red-tape, even when the case is settled in favor of the plaintiff, it may be months or years before any payment occurs. For the plaintiff, post-settlement funds (or advances) help bridge the gap and cover living expenses while waiting for the payment. This gap between settlement and payment can be even more costly for the lawyers who need to keep their firm running. Thus, for the attorney, post-settlement funds or advances can prevent major cash flow problems.
How can legal financing be used?
There are no restrictions to how you use these funds. Some uses include:
- Firm’s office expenses
- Trial exhibit expenses
- Expert witness fees
- Mileage
- Litigation Fees
What type of cases are eligible for funding?
Virtually all cases are eligible.
Do we have to repay Viking Funds if we lose our case?
NO! Because you are not receiving a loan from Viking Funds, you do not need to repay us should you lose your case. We take our fees only out of settlement funds.
