State rules
Funders activeCase Equity in Illinois.
ClaimAngel funders are active in Illinois. One set rate: 27.8% simple, 2x cap at 46 months. If you don't win, you owe nothing back.
The industry calls this pre-settlement funding, legal funding, or a lawsuit loan. We call it Case Equity.
The short version
You can get funding in Illinois, one of the most protective states. Costs are capped by law and stop at 42 months, and you get fourteen days to change your mind.
The facts
What Illinois law says.
As of July 14, 2026
Illinois has one of the country's most complete consumer funding statutes: the Consumer Legal Funding Act, in force since May 27, 2022 and amended effective 2025. Funders must be licensed (unlicensed contracts are void and unlicensed operation is a felony), charges are capped at 18% of the funded amount per six-month period with a $75 document fee, all charges stop at 42 months, and consumers get fourteen business days to cancel.
815 ILCS 121/1 et seq.
Consumer Legal Funding Act (SB 1099, P.A. 102-987, eff. May 27, 2022)
Read the statute →Charges
Fees may not exceed 18% of the funded amount, assessed at the start of each six-month period, plus a document preparation fee of up to $75. No charges may accrue more than 42 months after the funding date.
Licensing
Full licensing through the Nationwide Multistate Licensing System: application and background fees, $30,000 minimum net worth, $50,000 surety bond, annual renewal. Contracts made without a license are null and void, and unlicensed operation is a Class 4 felony.
Disclosure and cancellation
Front-page bold disclosures of the funded amount, itemized charges, maximum total due, and a six-month payment schedule. Fourteen business days to cancel. The contract must state, in capitals, that repayment comes only from the proceeds of the claim and that the consumer owes nothing if there are no remaining proceeds.
Conduct rules
The statute requires the contract to state that the funding company has no role in deciding whether, when, and for how much the legal claim is settled. Pricing must be predetermined by time interval, not a percentage of the recovery. The consumer's attorney must acknowledge the contract in writing.
For plaintiffs
- Illinois law caps what funding can cost and cuts charges off at 42 months. Any funder quoting outside those bounds is operating illegally.
- Fourteen business days to cancel, the longest window in the country.
For law firms
- Written attorney acknowledgment is required on every contract.
- Verify the funder's license: unlicensed contracts are void, which can complicate lien resolution at settlement.
Sources
- Consumer Legal Funding Act, 815 ILCS 121, Illinois General Assembly (accessed July 14, 2026)
For educational purposes only, not legal advice. Laws change and courts reinterpret them. Check the dated sources on this page, and talk to a lawyer licensed in your state about your own case.
The questions
Illinois funding, asked plainly.
Is pre-settlement funding legal in Illinois?
Yes. You can get funding in Illinois, one of the most protective states. Costs are capped by law and stop at 42 months, and you get fourteen days to change your mind. On ClaimAngel it is offered as Case Equity: one set rate, a hard cap, and nothing owed if you lose.
Can I get a lawsuit loan in Illinois?
What the industry calls a lawsuit loan is not a loan: a loan bills you monthly and follows you if you lose, and this does neither. The accurate name for the modern product is Case Equity, money drawn from the value your case already holds. You can draw on your Illinois case through ClaimAngel today, with no credit check and nothing owed if you lose.
How much does legal funding cost in Illinois?
Illinois law caps what funding can charge: 18% per 6 months, 42-month max. On ClaimAngel the rate is public and the same everywhere we serve: 27.8% simple annual interest, never compounding, with a hard cap at 2x the draw plus financed fees. The calculator shows the exact payoff for your numbers, to the penny.
Is pre-settlement funding a loan?
No. A loan follows you if you lose and bills you along the way. Case Equity is non-recourse: money from the value of your case, repaid only out of a winning settlement. Lose the case, keep the money, owe nothing back.
What happens if I lose my case?
You owe nothing back. Non-recourse is the product, not fine print: the draw is repaid only from a settlement or judgment in your favor.
Ready when you are. Same set rate for every Illinois case, and nothing owed if you don't win.