Question 1

Does McKay Law provide pre-settlement funding directly?

Accepted Answer

No. Pre-settlement funding is provided by third-party financial institutions, not by McKay Law. McKay Law provides educational information about pre-settlement funding, helps clients evaluate whether it is appropriate for their situation, and routes applications to third-party funding partners that collaborate directly with attorneys. McKay Law's role is to represent Texas personal injury clients on a contingency-fee basis — with no fees unless the firm wins the case — and to advise clients on financial options like pre-settlement funding when relevant. Any decision to apply for or accept a cash advance is between the plaintiff and the third-party funding company.

Question 2

What is pre-settlement funding and how does it work?

Accepted Answer

Pre-settlement funding, also known as lawsuit funding or lawsuit loans, is technically not a loan. It is a non-recourse cash advance provided to plaintiffs in pending lawsuits who need financial assistance before their cases settle. The funding is repaid through the settlement amount once the case resolves. If the plaintiff loses the case, the money generally does not need to be repaid — this non-recourse structure is the core distinguishing feature of pre-settlement funding. The goal is to help plaintiffs cover essential costs (medical bills, rent, daily living expenses) while waiting for a fair settlement, so they can hold out for an appropriate offer rather than accepting a low one out of financial pressure.

Question 3

What does 'No Win, You Owe Nothing' mean?

Accepted Answer

'No Win, You Owe Nothing' refers to the non-recourse structure of pre-settlement funding. If the plaintiff loses the case, the cash advance generally does not need to be repaid — the funding company bears the risk of an unsuccessful case outcome. This is fundamentally different from a traditional loan, which must be repaid regardless of the case outcome. The funding company is compensated for taking on this risk through the fees and interest charged on cases that successfully settle. The non-recourse feature is genuinely protective for plaintiffs, though it does mean pre-settlement funding tends to be more expensive than conventional borrowing when cases do settle.

Question 4

What types of cases qualify for pre-settlement funding?

Accepted Answer

Most personal injury cases qualify for pre-settlement funding. Common eligible case types include car accidents, truck accidents, motorcycle accidents, commercial vehicle accidents, wrongful death, slip-and-fall accidents, dog bites, rideshare-related accidents, workplace accidents, boat accidents, bus accidents, bicycle accidents, pedestrian accidents, medical malpractice, product liability, and workers' compensation. Eligibility ultimately depends on case strength as assessed by the funding company, anticipated settlement value, and documentation available. Cases with strong liability evidence and substantial damages typically receive more favorable terms than cases with disputed liability.

Question 5

How much funding can I receive?

Accepted Answer

Pre-settlement funding companies typically advance 10 to 20 percent of the estimated settlement value. This range ensures enough of the settlement remains after repayment to cover medical liens, attorney fees, and the plaintiff's net recovery. The specific amount depends on: the estimated value of the settlement, the strength of the case (liability and damages), the extent of damages (medical bills, lost income, pain and suffering), and the funding company's underwriting criteria. Plaintiffs should borrow only what they need for essential expenses — over-borrowing can substantially reduce the final net recovery once the advance, fees, and interest are repaid from the settlement.

Question 6

How long does pre-settlement funding approval take?

Accepted Answer

Most pre-settlement funding approvals occur within 24 to 48 hours after the application is submitted, assuming the funding company can promptly obtain case documentation from the plaintiff's attorney. Once approved, the cash advance is typically disbursed within another 24 hours. The fastest applications are those where the plaintiff's attorney is responsive to documentation requests and the case has clear liability and well-documented damages. The rapid approval process is one of the primary advantages of pre-settlement funding — it provides financial relief during exactly the period when plaintiffs typically need it most.

Question 7

Are there any upfront fees or costs?

Accepted Answer

No. Funding companies do not charge upfront fees or out-of-pocket costs. Repayment happens only after the case settles — the advance, plus any fees and interest, is deducted from the settlement before disbursing the remaining balance to the plaintiff. However, pre-settlement funding is not free: providers charge fees and interest rates on the cash advance, and these costs can accumulate over time. Costs vary by company, so plaintiffs are strongly encouraged to compare terms across multiple providers and discuss the implications with their attorney before accepting any advance. A longer case timeline means more accumulated interest, which reduces the final net settlement.

Question 8

Do I need an attorney to apply for pre-settlement funding?

Accepted Answer

Yes — having an attorney is generally required by funding companies because case-documentation review depends on attorney cooperation. Pre-settlement funding companies collaborate directly with the plaintiff's attorney throughout the process: reviewing case documentation, communicating about case status, and coordinating repayment from the settlement when the case resolves. Plaintiffs who already have an attorney can apply for funding without changing representation. Pre-settlement funding is designed to supplement attorney representation, not replace it. Plaintiffs who do not yet have an attorney should retain one before applying for pre-settlement funding.

Question 9

What are the risks of pre-settlement funding?

Accepted Answer

Three categories of risk warrant careful consideration. (1) Fees and interest rates — costs can add up significantly if the case takes a long time to resolve, and pre-settlement funding is typically more expensive than a conventional loan would be on a per-dollar, per-month basis. (2) Reduced settlement amount — repaying the advance plus fees will reduce the plaintiff's final net recovery, and over-borrowing can substantially erode the settlement. (3) Dependency risk — repeated borrowing during a long case can lead to financial strain when the settlement eventually arrives net of all advances. Best practices: borrow only what you need for essential expenses; shop terms across multiple providers; discuss the implications with your attorney before accepting any advance; understand the total cost of repayment under realistic case-timeline scenarios.

Question 10

Does McKay Law assist with pre-settlement funding outside Sulphur Springs, Dallas, Tyler, and Greenville?

Accepted Answer

Yes. McKay Law provides pre-settlement funding educational information and application routing for clients throughout all 254 Texas counties statewide. The firm maintains four office locations — Sulphur Springs (HQ), Dallas, Tyler, and Greenville — but routes funding applications and provides personal injury representation for clients across the state. The A-Z city directory on this page links to McKay Law's pre-settlement funding pages for every major Texas city. Clients in other locations can contact the firm directly or call (844) 410-9191 for funding application routing. Pre-settlement funding is provided by third-party financial institutions; McKay Law does not directly provide loans or funding services.

Texas Pre-Settlement Funding Near Me

Trustworthy Texas Pre-Settlement Funding

Free Consultation 24/7
Nosotros Hablamos Español

How to Choose the Right Bus Accident Attorney

1. Look for Experience in Bus Accident Cases

2. Choose Someone Who Will Support You

3. Ensure They Have Strong Negotiation and Trial Skills

4. Be Clear About Fees and Costs

Empower Yourself

Areas We Proudly Serve

Injured? Talk to a Texas Tough lawyer today.