When you are involved in a lawsuit and are in need a pre-settlement advance, you will try to find the best lawsuit funding company with the best quality services. If you have a pending lawsuit or you are negotiating with your insurance company, it might take a long time or unnecessary delays before you receive your settlement check. The other party may want to delay the settlement of a lawsuit to lower down the amount of the settlement of your personal injury claim.
If you have hired an attorney for your case, the insurance company will not require a lot of work, except that you know that due to unnecessary delays, you can prematurely accept lower offers. Nevertheless, lawsuit funding companies help plaintiffs like you get through difficult times and sometimes achieve a better settlement because you can wait for it. Fighting your case for a longer time ensures the insurance company that you are not in a hurry and you will be able to have more leverage to deal with your lawsuit or claim for your upcoming settlement.
How do lawsuit funding companies evaluate the loan?
When you file a lawsuit for your personal injury, you may also end up applying for a lawsuit loan. The funding company evaluates your case that which they think is the expected amount of the future settlement and then determine the amount they will lend you which us mostly 10% of the value of the case. Normally, you don’t need to pay any amount before your settlement arrives, the lawsuit funding company deducts the amount when the judgment of your settlement is passed.
Lawsuit loans are quick.
Lawsuit funding companies provide you with advance money very quickly, they collect all the important information about your case and contact your lawyer to speak about the details of your case before qualifying you, and if things are in a favorable condition they will lend you money immediately. They never want to lose a customer and normally they lend you money 24-48 hours after contracts have been dually signed. In a personal injury case, you most likely need money urgently because you have to pay house bills, etc. and lawsuit loans are many times a good option as it is the quickest way to get money when you really need it especially when no-one else is lending you money to survive.
Here, we share with you the best companies of 2022. These companies offer “non-recourse funding” that is if you lose your case, you don’t need to pay back the loan. These companies offer advances at a lower rate with positive client communication.
Oasis Financial – Zero application fees and well known.
When a lawsuit funding company provides a loan to the plaintiff they are at high-risk because there is no recourse if the plaintiff loses the case and due to the high-risk these companies take, lawsuit loans often have a higher interest rate. You can save your money by comparing the interest rates of different lawsuit funding companies. There are some companies that charge for only reviewing your case that whether you qualify for the loan or not and this is really not justifiable. Oasis Financial doesn’t charge you until you become their customer.
The attorneys who initially launched Oasis, provide a way for plaintiffs to receive pre-settlement funding and make life livable until their case closed. They are very well known and one of the biggest lawsuit funding companies nationwide.
Thrivest Link – Offers Clear Loan Terms With A Smile.
Thrivest Link is a full-service settlement funding company that has successfully provided thousands of lawsuit cash advances since its inception. Thrives Link is always ready to help you. Some lawsuit loans with many other companies tend to have much higher fees and in some cases, lawyer’s fee, liens and lender’s fee end up costing the plaintiff an arm and a leg. The plaintiff ends up owing more money as compared to what he receives from the settlement of his personal injury lawsuit claim. Normally, personal injury lawsuit loans have a monthly funding fee which is usually 1.5% to 3.5% monthly which seems very nominal until you calculate it. Thrives Link carefully writes all the terms and conditions at the time of the contract. They are always ready to answer your questions which many other funding companies resist because they care for their customer and are not hiding their rates. Thrives Link is known for the smile they provide to their clients.
Baker Street Funding – Works Well With You And Your Attorney.
Baker Street Funding is one of the best lawsuit funding companies nationwide. The CEO of the company personally contacts the lawyer and always show personal interest. Baker Street Funding builds a relationship with your attorney which helps your lawyer concentrate more on recovering your settlement rather than taking calls from clients. The staff is professional and responsive that when you want to contact the company, they are available. They know that the customer wants to be listened carefully, so they respond quickly. If they didn’t respond, you can leave a message and they will call you back within 2 hours or the next day if is after work hours. In case they don’t fund your case, they will refer you to another company that could help you get funded.
Tip to choose the best lawsuit funding company
Always consult your attorney before finalizing anything the lawsuit funding company or before entering into an agreement. They have to have an understanding of how each legal funding company works and can give a better picture of the best lawsuit loan company for your pre-settlement lawsuit loan.
What to consider when selecting a lawsuit funding company
At the time of finalizing agreements, you must consider different factors like:
Time: this is the most important factor to consider while choosing a lawsuit funding company. How early and quickly you can get the pre-settlement loan or money to use immediately.
Rate: always take into account what is the exact rate that the company is charging to you according to your situation and your case type.
Company’s coordination with a lawyer: you must know how the lawsuit funding company coordinates with your lawyer because your lawyer can guide the lender in a professional way.
Terms and conditions: before entering into a lawsuit funding agreement, you should read all the terms and conditions so that the company doesn’t mislead you.
When you are done with all the required research, you will come to know that there is a huge competition between lawsuit funding companies. You will then find the best funding company that suits your needs in a professional way.