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How Do I Get a Lawsuit Loan in The Bronx, NY?

As long as you choose a top-rated lawsuit loan company in the Bronx, NY such as Direct Legal Funding, getting a lawsuit loan is simple, fast, and easy. Selecting the best lawsuit loan provider is the first and most important step you must take. Once you have made that choice, the rest is easy.

With a leading lawsuit loan company such as Direct Legal Funding, you can simply fill out their online application form available on their official website and get ready to receive the funding. It will hardly take five minutes to complete the entire process, including the submission of documentation for loan verification.

If you need help, you can call up the lender’s office, and one of their experienced loan specialists will guide you through the application process. Once the lawsuit loan company receives the required information from your lawyer’s office, they will be able to approve your loan and disburse funds within as little as 24 hours.

A Quick 3-Step Process to Obtain a Lawsuit Loan in Bronx, NY

Each lawsuit loan company may have its own policies and procedures regarding the loan application, approval, and release of funds. Your goal should be to pick a dedicated and reputable lawsuit loan provider that has simplified this process to make it quick and easy for clients to receive cash.

With Direct Legal Funding, you can get a lawsuit loan in a simple 3-step process as follows:

  1. Fill out the online application form with no credit checks.
  2. Share all the details with your attorney so they can provide the necessary information to the lender.
  3. You receive the money from Direct Legal Funding upon approval.

You and your attorney will be required to sign a DocuSign agreement contract, which Direct Legal Funding will send over. Upon receipt, the company will wire transfer the funds to your bank account, mail an overnight check if you want, or even pay through Western Union if you prefer. The process is designed to help you receive the money when you need it, and the way you need it.

Helpful Tips for a Smooth Process to Obtain a Lawsuit Loan

Once you have decided to apply for a lawsuit loan with a trusted company such as Direct Legal Funding in the Bronx, NY, you should follow these simple tips to receive the funds as fast as possible:

  • Discuss the claim with your attorney and keep them informed about your plan to obtain a lawsuit loan.
  • Keep your attorney information at hand when you fill out the online application form or place a call to a loan specialist for help.
  • Attorney information should include: Full name of the law firm, phone number (with area code), firm’s email id, and name and email id of the case manager or paralegal who is handling your case.
  • Keep other relevant case-related information and documents ready for submission for verification purposes. This will speed up the process and the company’s specialists will be able to quickly evaluate the strength of your case.

The Bronx, NY Motor Vehicle Accident Data

Car accidents are the leading cause of accidental fatalities in New York as well as one of the major causes of serious bodily injuries. Nearly 17% of all auto accidents in New York City occur in the Bronx. In 2021, the statistics show that 17,047 automobile crashes took place in the Bronx, resulting in 8,744 injuries and 43 deaths (apart from 8,260 cases involving property damage).

In 2021, pedestrians in the Bronx suffered as many as 1,795 accidents. Almost all of these accidents resulted in bodily injuries or fatalities. Pedestrians constituted the largest burden of traffic fatalities in the Bronx at nearly 48%, and about 15% of the accident victims who suffered bodily injuries were pedestrians. The Bronx, NY also witnessed 240 motorcycle crashes and 763 bicycle accidents in 2021.

Slip and fall (aka premises liability) cases are also common in the Bronx. According to the New York Department of Health, falls are the major cause of injuries and hospitalization among both children and adults. Falls are also a leading cause of fatality and injury among adults in the age group of 45 and above. Among seniors in the Bronx, slips and falls often result in injuries that lead to temporary or permanent disability and/or prolonged hospitalization or death. 

Construction workers in the Bronx face the highest risk of falling from a height and sustaining severe injuries. Other industries in and around the Bronx with a high incidence of slip and fall injuries include retail, wholesale, transportation, and manufacturing. When it comes to workplace injuries, the data from the Bureau of Labor Statistics (BLS) shows that in 2020 alone New York had 129,000 workplace injuries and illnesses.

Lawsuit Funding Laws and Regulations in the Bronx, NY

New York at present does not have any specific laws or regulations that may affect the disbursement of lawsuit loans in the Bronx or other areas in the state. Stemming from this, a bill is pending in the state (NY Assembly Bill A1270) which seeks to regulate the legal funding industry and impose an upper limit on the annual interest rates at 36%.

According to the rules of the New York State Bar Association, attorneys are not permitted to loan funds to the plaintiffs directly. Moreover, they are free to assist their clients to obtain cash advances for lawsuits from third parties.

In the past, there have been instances where New York courts addressed cases related to lawsuit lending. In one of the cases, a defendant in a New York personal injury case declined to pay the full settlement to the plaintiff according to the settlement agreement on the grounds that the plaintiff had obtained legal funding. The defendant claimed that receiving this type of legal funding was “illegal.” The defendant’s claim was rejected by the courts.

Get Cash within 24 Hours at the Most Competitive Rates from Direct Legal Funding

Fast turnaround times and highly competitive interest rates set Direct Legal Funding apart from most others in the industry. Clients trust us for our commitment to serving them with a simplified lawsuit loan approval process backed by dedicated customer service. With Direct Legal Funding, chances are that you could have your case funded within just one business day. Our interest rates can be as low as 2%.

You can APPLY NOW using the company’s free online application form. Our specialists will reply as soon as possible and help you receive your much-needed funds. For any questions or to request more information, call us at 866-941-5588 or contact us online.