Legal Funding FAQ

Have more questions? Read our legal funding company FAQs.

What is pre-settlement funding?

Pre-settlement funding can also be referred to as consumer legal funding. Pre-settlement funding is not a loan. The pre-settlement funds are secured by the settlement funds. A pre-settlement advance is a form of non-recourse funding, allowing Scryp to buy a portion of the settlement funds in exchange for pre-settlement funding. Because pre-settlement funding is not a loan, the client owes nothing if the case does not reach a settlement.

What if there are no settlement funds?

Pre-settlement funding is not a loan, so the client is not considered a borrower. So even if the case is not won and there are no settlement funds, the client will not owe the legal funding company any money. There is no debt or payment schedule involved. Funding of this nature is also known as non-recourse funding.

What is non-recourse funding?

The term non-recourse funding means that the financing includes no debt obligation. The condition or collateral of this type of funding is only the profit of the claim. If the claim does not meet a profit, then the non-recourse funding recipient is not obligated to make any other types of repayments.

How does legal funding work?

Getting legal funding is a simple three step process:

Submit an application. The application will need case information, the attorney's contact information, and the client's information. At this point, it is also important that clients inform their attorneys that they can expect a call from Scryp to verify case details.

Get approved. Scryp will review the application, and if it is approved, both the client and the attorney will be notified and given a contract to sign and complete the funding request process.

Get legal funds. Once the funding request process is complete, the client will receive the funds using the indicated preferred funding method.

How much money can a client get in pre-settlement funding?

Clients requesting pre-settlement funding can potentially receive anything between $500 and $25,000 in pre-settlement advance money.

How long does it take to get pre-settlement money?

Pre-settlement funding can deposit the same day the application is approved. How long it takes for the approval process to finish depends on case-by-case details and how available a client's attorney is to confirm case information. In general, applicants can expect to wait around two business days for their applications to complete.

Does legal funding require a high credit score?

No. Legal funding does not require a high credit score to apply or get approved. Pre-settlement funding is not a loan, so the client's credit score is not considered in the legal funding request process.

How much does legal funding cost?

Pre-settlement funding is not a loan. Legal funding is a safer option than a loan and protects clients from having to pay regardless of whether their claim is settled or not. The prices involved in receiving legal funding vary case by case. Applying for legal funding is free. Once the application is complete, legal funding fees will become available and will only be paid through the settlement.

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