“Easy to work with” means your attorney might just be avoiding doing extra work by sending you to the laxest pre-settlement funding company, see above. If you have a strong claim, you’ll want a settlement cash advance from a company that does a good job of vetting claims. Otherwise, you will be charged excess interest to cover their losses.
“They take reductions at settlement” sounds great, but why count on something that’s not clearly written in the contract? You’re signing a contract with a company that’s going to take a chunk out of your settlement. Rely on the contract your signing, not some arbitrary “kindness” later.
The best lawsuit loan companies will be able to answer your questions easily and clearly. Regardless of their answer, make sure that you confirm anything you are told before signing a contract.
We advise plaintiffs to get a formal quote in writing before applying with any company. When you call many pre-settlement lawsuit funding companies, they will give you the run-around when you ask about rates. They will try to ask for your case and lawyer’s details before providing a quote. You should insist on a written quote before providing any sensitive information.
Ask your attorney or paralegal if they have worked with this company before. See if they have a sample contract from the company.
Uplift, for example, has a deep understanding of the logic behind pre-settlement funding. We can then explain every question or concern you have for us. We take your case seriously because we know that personal injury is no laughing matter. Uplift gives cash advances on most personal injury claims, from medical malpractice to car accidents. And we can get you approval of your settlement loan within 24 hours. Call us to see if your case qualifies for our cash advance in as little https://samedaycashadvance.org/payday-loans-or/ as two minutes.
Don’t just take their word for it
Do a quick search on google for “top-rated lawsuit loan companies.” You’ll see at least 20 companies telling you that they are top-rated and that they can help with your case. Call them and ask about their settlement loans. Ask them if they can get you your funding within 24 hours of approval.
Overall, they’ll tell you they’re the best. That they offer the most reliable settlement cash advance for your case. Great.
If they haven’t been reviewed with a bunch of other pre-settlement funding companies by an independent third party (none of them are), then they’re just making it up.
Look for good Google, or Yelp reviews, but take these with a grain of salt. Often, the only customers who will review a company are those that have been asked for a review. This means that lawsuit funding companies have a large amount of control over their rating.
Tons of reviews over a short period of time? Red flag. The company probably has a campaign going and asks for reviews from satisfied customers. Don’t let yourself be one of the unsatisfied customers. Always sort by lowest rating and see what those folks have to say about the company.
Ask them what personal injury cases they give cash advances for
The best lawsuit funding companies charge a 15% – 20% simple, semi-annual interest rates. You should insist on a rate in this range.
Many lawsuit funding companies will tell you they charge 2% to 3% monthly. Usually, that is a compounding figure. Often, after a formal review, the rate will be closer to the high end of that range. After tacking on fees, you will end up paying more than 80% in the first year.