Frequently Asked Questions

Settlement loans are known by a variety of names and descriptions, such as “lawsuit advance funding,” “auto accident loans,” “MVA loans,” “injury loans,” “insurance claim loans,” and “litigation funding,” among others.  In British Columbia, they may also be referred to as ICBC claim loans.  These terms all pretty much refer to the same thing.

No one can afford to stay off work while a lawsuit is going on. A settlement loan keeps you going

Settlement Lenders Inc., is located in Edmonton, Alberta. We have been making settlement loans for over 20 years.  Our experienced professionals understand your situation, and will move fast to get you your money, answer any questions you have, and help you in any way they can.  Just reach out!

There are many situations, but some of the most common are 1) you have money coming in the future as a result of an insurance claim or lawsuit; 2) you are listed as a beneficiary in a will; 3) you have sold your house and funds are not expected to arrive for a few months, or perhaps longer; 4) you have been physically injured due to someone else’s mistake (in an auto accident, for example), and you are pursing a lawsuit.  We will look at any situation where money is coming in the future.  Just fill out an application using the form found here, and let’s see if our experts can figure out a way to help you out!

Settlement loans are most commonly given in lawsuits involving automobile accidents, slip and fall accidents, medical malpractice, wrongful death, and class actions.  We will also loan funds where, for example, you are expecting inheritance funds, or where you have sold your house and funds are not expected to arrive for a few months, or perhaps longer.  We will look at any situation where money is coming in the future.  Just fill out an application using the form found here, and let’s see if our experts can figure out a way to help you out!

There is no deadline!  You can apply once you feel you have money coming to you in the future.  You can apply even if you don’t know how much you may be receiving.  You can also apply if you already received financing elsewhere, but now need more.

Mostly, we provide loans where you are expecting money from a future settlement in a personal injury lawsuit (such as a case involving an automobile accident, a slip and fall, medical malpractice, wrongful death, or a class action).  We also provide loans while you wait for inheritance claims, or even funds from a property sale.  We are always on the lookout for new opportunities to help people with their financial needs. If you are expecting a payout in the future, but need cash today, submit a free application and we'll take a look at it.

Yes, we can.  Our goal is to make sure you have cash whenever you need it.

We take applications from anywhere in Canada, coast to coast.

The vast majority of our borrowers are sent to us through lawyer referrals. We have a wide network of lawyers who trust us and rely on us to help their clients pay their bills.  Whether the situation involves a personal injury lawsuit, inheritance, or a home sale, we are the first choice of many lawyers across Canada.  Our other clients find us by searching the web or through a recommendation from friends or family.

Lawyers are usually prohibited by law or professional conduct codes from making loans to clients.  Many lawyers turn to us because they have come to know and trust us as we have served their clients over the years.  It is also important that their clients have enough money so that they are not desperate to reach a settlement in a lawsuit.  Desperate clients wind up with small settlements, because the other side knows they will agree to almost any amount.  A well-funded client, on the other hand, can hold on while a lawyer negotiates a bigger settlement.

The exact costs depends on the amount of the loan and the time it takes to pay it back.  We charge an initial administration fee as well as a monthly interest rate.  Our rates are highly competitive with other providers in the settlement loan industry.  In fact, many clients come to us looking for settlement loan re-financing after borrowing from a competitor.  In any event, the cost of the loan is nothing compared to the bigger settlement you can get when you are not desperate for settlement proceeds.  In addition, depending of the nature of the future settlement, some of the costs of the loan may be recoverable or passed on to your adversary in in the lawsuit.

No payment is needed until your future settlement is received or your lawsuit ends.  At that time, your lawyer will do a final accounting and disburse the funds we are owed.  You may also choose to make monthly payments or even pay the loan in full prior to settlement, but it is not required by our terms.

If you have been injured and are pursuing a lawsuit, or expect to get some kind of payout in the future for another reason, you can submit a free application right now!  Once the form is submitted you will be contacted within 24 hours by one of our settlement loan officers.  This initial interview regarding your claim usually takes about 15 minutes.  After that, we chat with your lawyer regarding the legal specifics of your claim. Then  we will contact you if you are approved.  From the time you apply, it usually takes less than 48 hours to get the money in your hands.  Requests for additional funds can often be completed within the same day.  If you would rather apply by phone, you can call Settlement Lenders directly at 1-866-210-7200.