What Is Pre-Settlement Funding?

Pre-settlement funding, also known as a lawsuit loan or a pre-settlement loan, can be a lifeline for those struggling financially during personal injury lawsuits in Illinois. If you are having trouble paying for necessities like rent, medical bills, or groceries, you can use pre-settlement funding to borrow from your pending settlement without the credit checks found with a loan. Since pre-settlement funding is non-recourse debt, you only have to repay if you win or settle your case.

Who Needs Pre-Settlement Funding?

Pre-settlement funding can help plaintiffs in long legal battles get much-needed cash to cover everyday expenses. If you’ve been in an accident that wasn’t your fault and are finding it difficult to pay for food, childcare, or medical costs not covered by insurance, you may benefit from pre-settlement funding.

Picture John, a hardworking Chicago resident who was injured in a preventable slip and fall at his local grocery store. Though John is sure his personal injury case will end with a sizable settlement, his injuries have left him unable to work for an extended period. To cover his treatment costs and day-to-day bills, John can apply for pre-settlement funding. His expenses are covered without monthly payments or needless debt, and John can focus on his recuperation in peace.

How Pre-settlement Funding Works In Illinois

As in many states, the process for acquiring pre-settlement funding in Illinois is much simpler and more streamlined than a loan. It starts when you or your attorney submits a funding application. Once evaluated and approved by the funding company, you get the money you need. After your case is over, the amount you received as part of your pre-settlement funding as well as the funding company’s fees will be subtracted from your settlement.

Importance of Pre-settlement Funding In Illinois

Court cases can often be lengthy proceedings. If you need money now, a settlement over a year later won’t be much help. Pre-settlement funding helps plaintiffs like John to avoid taking on debt or settling for less than their case is worth. With loans, you have to worry about credit checks and monthly payments. When you opt for pre-settlement funding, you don’t pay until your case is settled, and you only pay if you win.

Types of Pre-settlement Funding

Pre-settlement funding in Illinois can work for a variety of court cases. Everything from slip and fall lawsuits to auto accident cases are eligible for pre-settlement funding.

How Does Pre-settlement Funding Work In Illinois?

There are four simple steps to get your pre-settlement funding in Illinois: application, evaluation, approval, and dispersal.


Have you been involved in an auto accident and need help with pre-settlement funding? Oasis is here to help!

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1. Applying For Pre-settlement Funding

Your application for pre-settlement funding requires careful planning and organization. For your application to be accepted as quickly and easily as possible, make sure to have all relevant case documents available. Documentation you may want to have on hand includes:

  • Medical records
  • Official incident or police reports
  • Communications with insurance companies

You will first want to discuss with your attorney whether pre-settlement funding is right for you. Funding companies will want to confirm your case details with your attorney, so don’t forget to have their contact information available. Be as detailed as you can when reporting the incident and your injuries.

Applicants for pre-settlement funding do have some basic requirements. You must be involved in an active injury claim, and your injury must match the kind of personal injury lawsuit filed (i.e., if you were injured in a car accident, your lawsuit must be an auto accident case). Unlike loans, your credit score is never a factor in the application process for pre-settlement funding.

Will Applying Hurt My Credit Score?

Applying for pre-settlement funding won’t affect your credit score in any way, as there’s no credit check required. This means that plaintiffs with any level of credit are eligible for pre-settlement funding.

Who Can Apply For Pre-Settlement Funding?

Pre-settlement funding can be a relief for those dealing with financial stress amid an ongoing personal injury lawsuit. If you need monetary support while waiting for your case to settle, then pre-settlement funding could be the help you need. The only requirements are that you are over the age of 18, suffered injuries directly relating to the legal case in which you are the plaintiff, and funding is available in your state of residence and/or where your lawsuit is filed.

Pre-Settlement Funding – Plaintiff

In Illinois, you can submit your application for pre-settlement funding on your own. Your finances are in your hands, no middleman is necessary.

Pre-Settlement Funding – Attorney

You can also have your attorney submit your application for pre-settlement funding for you. Plaintiffs who are severely injured or just busy with their day-to-day responsibilities, may want to choose this option to simplify the process. Your attorney uses their experience with the application process to ensure that your submission is as accurate and optimized for evaluation as possible.

2. Case Evaluation

After you or your attorney submits your application for pre-settlement funding, the funding company will begin their evaluation of your case. During this phase, they will decide if you’ll be approved for funding. If approved, they will also calculate how much assistance you’re eligible for. Things that can influence your evaluation include:

  • The strength of your case and likelihood of success,
  • The severity of your injuries and any other damages,
  • Your insurance coverage and payout
  • How long your case may take to settle; and
  • What jurisdiction your case falls under and any unique laws that might apply.

3. Pre-settlement Funding Approval

The time it takes from submission to approval of your pre-settlement funding application will vary depending on the details of your case. If you’ve prepared the correct documents and supporting information, you may be approved in as little as 24-48 hours, much quicker than the loan approval process. Not every application will be accepted though, depending on the specifics of your situation.

4. Pre-Settlement Funding Process

When you’re dealing with financial pressures during an ongoing legal case, your bills won’t wait. That’s why after approval, pre-settlement funds are made available to you as quickly as 24-48 hours later. You can receive your money through direct deposit to your bank account, as a check, or with money transfer services like Western Union.


Have you been involved in a car accident and need help with pre-settlement funding? Oasis is here to help!

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Types of Pre-settlement Funding In Illinois

Illinois is a big state, the fifth most populous in the union. Along with all those people comes a large number of lawsuits. Pre-settlement funding in Illinois is most commonly provided to personal injury plaintiffs involving auto accidents, workers’ comp, and premises negligence (aka “slip and fall”) cases. There are a variety of other legal cases that may also qualify.

Car/Auto Accident                                                                 

Illinois is full of both city and sprawl, so there are naturally a lot of cars, trucks, and motorcycles on the roads. As such, auto accidents happen every day. From small fender benders to full-on collisions, many accidents are due to negligent driving. Both drivers and passengers who are distracted, impaired, or aggressive can lead to an accident. When these incidents cause injuries or property damage, they can be taken to court under a personal injury claim. The negligent party may be held responsible for your lost wages, medical bills, and other costs. Pre-settlement funding is available for all covered car accident types, from small cars to motorcycles to semi-trucks. These can be personal or work vehicles. Accident cases involving bicycles, skateboards, boats, and aircraft do not qualify for auto accident funding.

How Much Money Could You Earn From A Car Crash Lawsuit in Illinois?               

The amount of money you can be awarded in an auto accident in Illinois depends on a few things:

  1. Severity of damages incurred

How much were you injured or your property damaged in the incident? How severe were your injuries?

  1. Negligent party’s level of fault

How much responsibility for the accident lies with the other driver or rider? How much fault are you responsible for? Illinois has a comparative negligence law, meaning an injured plaintiff can only receive a settlement if they are less than 50% responsible for the accident. Your payment may be reduced by a percentage relating to your level of fault.

  1. Illinois car accident liability and damages laws

Laws governing car accident suits vary from state to state. Illinois is an at-fault state, meaning the driver who caused the accident is responsible for paying the victim’s damages. This means that fault must be proven when filing a claim, making a good attorney even more critical to your case’s success.

  1. Negligent party’s insurance coverage

Illinois state law demands that drivers have a minimum insurance coverage for bodily injury as well as property damage. The level of coverage the party at-fault has will affect the amount of funds you can receive in a settlement.

Car Accident Scene at night

Illinois State Laws For Auto Accident Claims To Consider

In Illinois, you have two years from the date of the accident to pursue a personal injury claim before the statute of limitation expires. As mentioned above, Illinois is an at-fault state, meaning your claim must be filed with the responsible party’s insurance company. Due to the nature of pure comparative negligence laws in Illinois, your proportion of fault can be subtracted from your compensation amount.

Premises Negligence (Slip & Fall)

Negligence in public spaces is a common cause of a variety of injuries. Unmarked or mismanaged risks to safety like wet floors, falling objects, or low-hanging obstructions can all be causes for premises negligence cases. “Slip and fall” incidents like these can lead to severe personal damage in public areas like malls or stores. Hot liquids or surfaces in cafes or restaurants might result in burns. You might also suffer cuts from exposed sharp metal or broken tile.     

Civil Rights Violations

Civil rights violations occur when a person’s basic rights to equality and fair treatment are violated. These cases can occur in many types of public spaces and are frequently the result of bigotry or intolerance. Whenever power dynamics are at play (work, school, public service providers) civil rights violations can happen.

Construction Negligence

Construction can often be dangerous, so safety precautions like site security and equipment maintenance are always paramount. When precautions or regulations are neglected, it can lead to serious injury and open up construction companies to personal injury suits.

For example, if you trip over improperly managed cables at a construction site in downtown Chicago and suffer a notable personal injury, you may be able to collect damages from the construction company.

FELA (Railroad)

FELA stands for the Federal Employers Liability Act, a United States federal law enacted in 1908. This legislation allows railroad employees to sue their employers for any injuries suffered on the job due to the railroad company’s negligence. If an employee of the Chicago Transit Authority, Metra, Amtrak, or a state railway line is struck by a train or otherwise injured during their day-to-day tasks and it’s proven that the injury is due to employer negligence, they can file a personal injury suit against the railroad company.

General Negligence

Any injury that results from negligent care of property or possessions may be categorized as general negligence. These cases vary from homeowner or nursing home negligence to animal bites and amusement park injuries.

Maritime (Jones Act)

Seamen injured in the course of their duties are protected under the Jones Act, a US federal statute that allows maritime employees to sue their employers for compensation. As with FELA, maritime employers are legally required under this statute to ensure a safe working environment for their employees. This includes a series of safety standards for vessel operation and maintenance that must be adhered to. If an injury occurs due to a failure on the employer’s part to meet these standards of safety and security, the victim can file a personal injury claim under the Jones Act. Insufficient safety training, neglecting required maintenance, and improperly secured equipment can lead to Jones Act cases.

Pedestrian Injury

Motorized and non-motorized vehicles alike can pose a significant threat to the safety of pedestrians. When injured by a careless driver, cyclist, or skateboarder, plaintiffs can file a pedestrian injury suit against the party at fault to receive compensation for damages suffered.

Workplace Negligence

When injured on the job, employees are often covered under Workers’ Comp insurance. Cases where the injury is caused by the employer’s negligence, the negligence of another employee, or the preventable fault of a third-party tool may be eligible for a workplace negligence suit. A lack of machine guards or an absence of safety training might lead to a negligence injury in a factory. Severe burns due to a poorly maintained fryer or oven in a food service setting can also be considered workplace negligence.

Wrongful Death

If a victim passes away from the negligent or intentional actions of another person, the representatives of the victim’s estate (usually next of kin) can file a wrongful death suit. Wrongful death is often caused by medical malpractice, catastrophic car accidents, or even purposeful murder.

Advantages and Limitations

Pre-settlement funding is a fantastic option for those feeling financial pressures during legal proceedings, but it does have its limitations.

Advantages Of Pre-Settlement Funding

If your injuries are preventing you from working and impacting your income, pre-settlement funding can be a bridge to get you through. Funding can be spent on vital expenses, including utility payments, mortgages and rent, food, and transportation. If you have dependent children, you can also use pre-settlement funds to pay for childcare while you go through meetings with your attorney or appointments with your doctor. Medical costs that aren’t covered by your insurance can stack up while you’re in recovery, so many funding recipients use pre-settlement funding to make up the difference.

Allows Time For Negotiation

Settlement negotiations can take anywhere between nine to eighteen months. If you’re without income during an ongoing legal case, you’ll be under pressure to settle as quickly as possible. One of the biggest advantages of pre-settlement funding is that it can allow more time for you and your legal representation to negotiate your compensation. With your bills covered, you won’t have to take a lower offer than you deserve. Pre-settlement funding gives you breathing room to fight for the settlement you’re owed for your pain, suffering, and loss of income.

Provides More Equitable Opportunity

If the party at fault in your case can afford a high-powered legal team, you need to ensure your attorney can match them. You can use pre-settlement funding to balance the scales. If you’re dealing with a corporation or big insurance company, they may try to lengthen the case to burn through your funding and force you into a reduced settlement. Pre-settlement funding can give you the staying power needed to beat this tactic.

What Does Pre-Settlement Funding Pay For?

Pre-settlement funding can be used for whatever your needs may be. Unlike a loan, however, there is no credit check, no monthly payment, and no risk of default. The cash you receive from your settlement can be spent on your essential expenses, giving you peace of mind and security when you’re waiting for your case to settle. If you are unable to work or earn your normal income due to your injuries, this can be a major financial relief. Pre-settlement funding can help you pay for vital expenses such as:

  • Rent or mortgage payments,
  • Utilities like electric, water, gas, or internet bills,
  • Groceries and other food costs,
  • Clothes,
  • Personal care items (hygiene products),
  • Transportation costs (gas, insurance, car payments, repairs, etc.),
  • Medical bills not covered by insurance,
  • Childcare,
  • Credit cards or personal loans, and
  • Insurance premiums.

Pre-settlement funding can help through tough financial times if you’re unable to work or need extra income during a pre-trial period. Instead of stressing about monthly payments or picking up extra shifts, you can focus on recuperating and working through your lawsuit.

Is There a Pre-Settlement Funding Limit?                                        

The pre-settlement funding company will determine the total amount of financial aid that you qualify for. This limit is determined by many factors, including:

  • How strong your case is,
  • How much your case is expected to settle for,
  • How severe your injuries are,
  • How much insurance coverage you have,
  • Your current and expected medical expenses,
  • Your current and expected lost wages,
  • How much your legal fees and court costs are expected to amount to,
  • How long your case is expected to take,
  • The type of personal injury lawsuit you’re filing,
  • State law,
  • Any previous advances you’ve received.

Can I Take Out More Than One Round of Pre-settlement Funding?

Some legal cases may go on longer than you or your attorney predicted when filling out your funding application. Whether it’s due to a long period of recovery or unforeseen expenses cropping up, you might find yourself needing an additional round of pre-settlement funding. Further funding rounds can help to cover unexpected medical expenses, transportation repairs, or other sudden costs. Be sure to mention that you’re applying for additional funding when submitting your case, as funding companies will factor this into their decision to approve or deny your application.

Pre-Settlement Funding

Pre-settlement funding is an amazing service for those enduring financial struggles in the process of a personal injury lawsuit. Still, it’s vital to weigh the pros and cons when you consider applying.

What Are The Risks Of Pre-Settlement Funding?

Since pre-settlement funding is structured as non-recourse debt, there is very little risk to you.

Non-Recourse Debt

Transactions where someone is not personally liable for repayment are known as non-recourse debt. With non-recourse funding, the funding company assumes all the risk, as the customer doesn’t have to pay anything back if the case ends in a loss. This makes non-recourse funding ideal for those already in precarious financial standings, as you can get the money you need without risking further debt.

What Is The Probability Of Defaulting?

There is no risk of defaulting when taking a pre-settlement funding. Oasis only collects funds if you win your case.

Choosing the Right Pre-Settlement Funding Company

Plaintiffs going through lengthy legal proceedings can find financial peace of mind with pre-settlement funding. That doesn’t mean that it’s the best option for everyone, though. Before pursuing pre-settlement funding, there are key questions you need to ask:

Do You Need Pre-Settlement Funding?

Have you been injured in an accident that wasn’t your fault? Are you unable to work due to your injuries? Are you under financial strain while navigating a personal injury lawsuit? If so, pre-settlement funding solution may be what you’re looking for. Depending on your situation, you may decide to opt for a personal loan or borrow money from friends or family. Both options will keep you afloat during your lawsuit process, but neither is as risk-free or simple as pre-settlement funding. You can always use pre-settlement funding as a backup plan, as many cases take longer than expected and you may find yourself in need of additional funding.

Why Choose Oasis Financial? 

Oasis Financial has been helping plaintiffs and their families access their settlement funds when they need it most for over twenty years. As industry leaders, we’ve worked over 350,000 pre-settlement financing cases with all kinds of clients. Oasis understands how difficult and distressing personal injury lawsuits can be, which is why we’re committed to serving you as quickly and easily as possible. Our team of compassionate financial and customer service experts is dedicated to helping you get the money you need on your terms.

Oasis Offers Pre-Settlement Funding Across Illinois

From Chicago to Springfield, Alton, and back up to Aurora the caring team at Oasis Financial is here to help provide you with pre-settlement funding to get you through the financial challenges of a lawsuit. Some of the areas we provide funding in Illinois include:

Chicago, Aurora, Joliet, Addison, Algonquin, Alton, Arlington Heights, Bartlett, Batavia, Belleville, Belvidere, Berwyn, Bloomingdale, Bloomington, Blue Island, Bolingbrook, Buffalo Grove, Burbank, Calumet City, Carbondale, Carol Stream, Carpentersville, Champaign, Chicago Heights, Cicero, Collinsville, Crest Hill, Crystal Lake, Danville, Darien, Decatur, DeKalb, Des Plaines, Dolton, Downers Grove, East Moline, East Peoria, Edwardsville, Elgin, Elk Grove Village, Elmhurst, Elmwood Park, Evanston, Frankfort, Freeport, Galesburg, Geneva, Glen Ellyn, Glendale Heights, Glenview, Granite City, Grayslake, Gurnee, Hanover Park, Harvey, Highland Park, Hoffman Estates, Homer Glen, Huntley, Kankakee, Lake in the Hills, Lansing, Libertyville, Lisle, Lockport, Lombard, Loves Park, Machesney Park, Maywood, McHenry, Melrose Park, Moline, Montgomery, Morton Grove, Mount Prospect, Mundelein, Naperville, New Lenox, Niles, Normal, North Chicago, Northbrook, O’Fallon, Oak Forest, Oak Lawn, Oak Park, Orland Park, Oswego, Palatine, Park Forest, Park Ridge, Pekin, Peoria, Plainfield, Quincy, Rock Island, Rockford, Rolling Meadows, Romeoville, Roselle, Round Lake Beach, Schaumburg, Skokie, South Elgin, South Holland, Springfield, St. Charles, Streamwood, Tinley Park, Urbana, Vernon Hills, Villa Park, Waukegan, West Chicago, Westmont, Wheaton, Wheeling, Wilmette, Woodridge, Woodstock, Yorkville, and Zion.

Work With Oasis Financial                    

If you’re looking for pre-settlement funding in Illinois, look no further than the professionals at Oasis Financial. Our hassle-free application process doesn’t require any credit checks or out-of-pocket fees, and you can be approved in as little as 24 hours. With pre-settlement funding, you only pay if your case successfully settles. That means no monthly payments and no risk of default. When you’re involved in a personal injury lawsuit, the last thing you should have to worry about is paying your medical bills, rent, or childcare. Pre-settlement funding can help you focus on your legal strategy while giving you the time needed to get the full settlement you’re owed. With Oasis Financial, better days start today.

Do you have questions or comments? Connect with one of Oasis Financial’s dedicated customer service representatives through our application page to get started on your pre-settlement funding case. Your bills won’t wait, so you shouldn’t either. Reach out to Oasis Financial today!                 

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Oasis provides pre-settlement funding, also known as consumer litigation funding, to its customers through different products depending on their state of residence or cause of action. Many consumers will be provided pre-settlement funding in the form of a purchase agreement, which assigns a portion of the pending proceeds from their legal claim. Other consumers, such as those in SC and CO will be offered a funding in the form of a pre-settlement loan, sometimes referred to as a lawsuit loan. These transactions have important differences, therefore, consumers should carefully review and be aware of the type of transaction that is offered to them by any funding company.