- May 18, 2020
No Fees. No Compound Interest. Just 15% Fixed for Each Six Months You Have the Money. That’s It! Redwood Funding Group beats all funders in the USA.
Accident Loan Funding Application:
After you apply for funding, Redwood Funding Group will evaluate your case with your lawyer. If we like your case we will send you a contract immediately. We will then wire or Fed Ex you your money. Apply, Evaluate, Fund, that’s it.
Initially clients think that their lawsuit will settle very soon. However, in most circumstances a lawsuit will take a year or two to settle. Consequently, during this time you still have the same bills to pay and expenses to cover. Nevertheless, you might be disabled as a result of your injury from the accident. Moreover, you might be laid off from your employment. How are you going to pay these bills? Enter Lawsuit Loan Funding.
Insurance vs. Lawsuit Loan Funding:
Noteworthy, almost all people responsible for an accident has insurance. Especially relevant is that these insurance companies are usually billion dollar corporations. As a result, these insurers know that you need money fast to pay your bills. Moreover, they know that if they drag out your case, you most likely will settle for less than your lawsuit is worth. Insurance companies haveÂ computer models to figure out how long they can stretch out your lawsuit until you break.
They pay there lawyers to bury your lawyer and case in paperwork. They want to grind you down.
FundMyLawsuitNow, Nova Funding, BridgewayLF:
There are tons ofÂ Lawsuit Loan Funding companies out there. They all have something special to offer. Some of the bigger ones are Nova Funding, FundMyLawsuitNow & BridgewayLF. Later, we will like you to consider Redwood Funding Group, but more on your lawsuit for now.
If you need money to pay these bills and expenses than you and your lawyer MUST consider if Accident Loan Funding is right for you. Let’s be honest, if you are going to be paid on your settlement next week, than maybe Lawsuit Loan Funding is not for you. Why pay extra money if you can wait just one week. However, if your money is not coming in for several months or your lawsuit has not yet settled you must think about and maybe choose an Accident Loan Funding company.
Nova Funding, FundMyLawsuitNow vs. Redwood Funding:
There are three critical things to consider when seeking Lawsuit Loan Funding: Cost, cost and cost. How is this determined? 1) Fees. 2) Interest and 3) Bottom line amount owed.
Most Accident Loan Funding companies charge fees. (For the record, Redwood Funding Group never charges fees in any form.) Those other companies might call them application, processing or underwriting fees. Some companies might also charge an ongoing management fee and a closing fee at the end of the case. These fees can be as a low as $150 and as high as $700!.
Especially relevant is that these companies will add the fee to the amount of money you borrow and make you responsible to pay interest on the total. For example if you borrow $1,000 and the fee is $200 then they will requireÂ that you pay interest, not on the $1,000 you borrowed but on $1,200.
Just about all Accident Loan Funding companies charge interest. Many charge what is called compound interest. Noteworthy, that’s the killer. Compound interest is new interest on top of the previous periods interest and principal. If the period is monthlyÂ compound interest, look out. For example, if the interest rate is 4% monthly compounded than the first month will be 4% of what you borrow but the next month is 4% of what you borrow plus 4%. After one year that comes out to about 80% annual interest. You do the math! Finally, you end up paying double after one and one half years.
Redwood Funding Group charges one fixed rate. We charge 15% of what you borrow for each six months you have the money. That is all.
A bank wire costs about $30 to do. An average Fed Ex delivery costs about $30-$35 overnight. Noteworthy, is that many many Lawsuit Loan Funding companies will add a premium to that fixed cost. I have personally seen a popular Accident Loan Funding company charge $149 for a bank wire. This number is than deducted from the amount of money you will be receiving. In our $1,000 example, if the bank wire was $149 than your check will read, $851. Nevertheless, you are still responsible for a $1,200 advance. Remember the fees!
Redwood Funding Group will only charge you what the bank or Fed Ex charges us for the delivery.
Redwood Funding Group:
Nova Funding, FundMyLawsuitNow, BridgewayLF and Oasis Financial are great Accident Loan Funding companies. However, put them and Redwood Funding to the test above. Most importantly, ask them the 3 important questions: 1) Do you charge fees? 2) Do you compound your interest 3) What is the final amount owed up to 3 years. In conclusion, you must Do this before you sign on the dotted line.
After you look around, we expect you will come home to Redwood Funding GroupÂ for your Lawsuit Loan Funding needs.