Dissecting the Top Rated Funding Companies that Offer Lawsuit Loans

What Are Lawsuit Loans?

When you get injured, you’re out of work, and you have to wait a long time before you get your lawsuit payout, a lawsuit loan from a reputable pre-settlement funding company can tide you over during your court proceedings.  As with any financial matter, it’s vital that you get all the important facts about lawsuit loans before making the decision.

Pre-settlement funding has become very popular because it provides immediate funds that victims of personal injury can use for legal and personal expenses.  It removes the financial burden off your shoulders as you recover from injury.

Simply put, lawsuit loans help borrowers fund their legal case or help them pay for living expenses as they await receiving settlement money.  Its repayment depends on whether a borrower wins or loses their lawsuit.  If the case loses, the lawsuit loan does not need to be paid.

3 Factors to Consider When Shopping for a Lawsuit Funding Company

To better be able to position yourself in identifying which lawsuit funding company is reliable enough that would offer you the best deals without taking advantage, consider these three important factors:

  • Interest Rate

Good companies offer different rates to clients based on the strength of their case.  They evaluate clients individually with the understanding that each client’s case is different from the other.

  • Transparency

A lawsuit company that you can trust will not be hesitant to give you all the details regarding the fees, interest rate, and other substantial information that you ask for.  They should help you develop a very clear understanding of the interest rate charged on your lawsuit loan and how it will be computed before they let you sign any agreement.  You should have an idea of how much you will be paying once you get your settlement when your case is finished.

  • Duration of fund transfer

The company should put your best interest at heart knowing that you need funds immediately to help you cope with your financial needs.  A good pre-settlement company will transfer your funds to you in as little as 24 hours once your lawsuit loan is approved.

How the Top Pre-Settlement Funding Companies Do It

The pre-settlement funding company you choose will have an impact on the total amount of money you receive once your case comes to a close.  Here is how some of the lawsuit companies set interest rates on lawsuit loans:

  • Peachtree Financial Solutions

This company assigns one trained representative to one client in order to provide satisfactory customer care through connecting you with companies that may be able to provide you a fund that suits your case.  They have structured settlements and offer more than one type of advance.

  • Cash advance:  $300 to as much as $750,000
  • Time duration to receive funding:  Within 48 hours after approval
  • Types of claims covered:  Personal injury, premises liability, product liability, medical malpractice, and wrongful death
  • Prime Case Funding

With pre-settlement financial solutions specific to each client that they offer, they have received top-rated reviews.  They are able to maintain competitive rates, being known for low-interest rates set on a case-by-case basis and no monthly payments.

  • Cash advance:  $500 to $1,000,000
  • Time duration to receive funding: Within 24 hours after approval
  • Types of claims covered:  Personal injury, surgery funding, medical malpractice, and civil cases
  • Nova Legal Funding

Unlike their competitors that charge the same interest rates across the board, this company offers interest rates depending on your case.  This means that you get to pay lower rates when you have a strong case.  They assign interest rates that are directly correlated with the risk profile of your case.

  • Cash advance:  $500 to $100,000
  • Time Duration to receive funding:  Within 24 hours after approval
  • Types of claims covered:  car accidents, wrongful death, premise liability, traumatic brain damage, personal injury, medical devices, defective drugs, and athletic concussion
  • Mayfield Settlement Funding

Mayfield is known for its speedy service—managing to provide funds on the same day of application, and outstanding customer service.  They are a direct lender that does not charge an application fee or monthly payments.

  • Cash Advance:  $500 to $250,000
  • Time duration to receive funding:  Within 24 hours of application approval
  • Types of claims covered:  auto accidents, premises negligence, general negligence, pedestrian injury, personal injury

Pre-Settlement Funding Companies Can Meet Your Financial Needs

Now that you have information on how the top-rated lawsuit companies offer services for lawsuit loans in terms of how much they can fund you, the length of time it will take for them to release the funds, and the types of claims they cover, you already have an idea of what to look for when you are presented options.  

There are many others that are not included in the list that are reputable and have great reviews from clients in their lawsuit loan offers.  Do thorough research as you look for a pre-settlement lender with a high degree of courteousness, professionalism, and trust, that will give you flexible terms while you wait for your settlement.