- February 22, 2021
- jeffrey rubin
Are you an accident victim? Are you looking for a good deal from a Lawsuit Loan Company? There are many pre settlement and Legal Funding companies out there. On the other hand, there are many sharks in the water. One would be wise to look through the muck to find the best deal if you are getting a Lawsuit Loan. Here we will review and discuss what to look for in a Accident Loan Company and who the players are.
The Search for the Best Lawsuit Loan Company:
If you have an injury from an accident and you have a lawyer then you might qualify for an Accident Loan. If there are so many Lawsuit Loan companies to choose from how do you settle on one?
The way to compare Legal Funding companies is dollars to dollars.
The Accident Loan company that you choose will have a direct affect on how much money you will walk away from your lawsuit with.
Here are the top ten Lawsuit Loan companies to compare with each other in America today:
- Redwood Funding Group (yes, it’s true!)
- Oasis Financial
- Law Cash
- Cherokee Funding
- Buckeye Funding
- The Legal Funding Group
- Peachtree Financial
- Cash 4 Cases
- Baker Street Funding
- Case Cash
Remember: You want the cheapest and easiest Accident Loan company that there is:
#1. What is the Interest Rate?
Do not use a company that charges a monthly compounded rate. Also, do not use a company that charges a different rate depending on the type of case or how much you are borrowing. A rate of 2.99% might sound great but if it’s compounded you could end up paying 75% interest a year! You want a clear answer to this question. You want a fixed rate that doesn’t change or compound. Those are the cheapest and easiest to figure out. A chart on the website laying out what you will owe over time for any amount that you borrow would help.
#2. Do they charge Fees?
Most Lawsuit Loan companies charge a underwriting fee, a processing fee, a management fee and/or a closing fee. These Accident Loan companies might even call the “fee” some else, like a surcharge, but regardless, you are paying extra for the loan in addition to the interest. Try and find a company that doesn’t charge any fees or surcharges at all. They are out there but very few and hard to find.
#3. Do they charge extra to send me the money?
All Legal Funding companies provide methods for sending you the money that you borrowed. Beware that many of them take a profit on the method of distribution on top of the cost. A bank wire costs $25-$30. A federal Express overnight delivery, to anywhere, costs $30-$30 and a 2 day delivery from the US Post Office costs $7.95. Any Accident Funding company, and there are many, that charges more than those numbers is again taking a profit in addition to the fees and interest.
#4. How much will I owe after 1,2,3 years?
If the Legal Funding company does not give you a straight answer as to how much you will owe after 1,2, and3 years run far away from them. When asked, many companies will say “we need more information” or “that is not my department” or “it depends” then maybe you should not trust that company. Only use a Accident Loan company that is up front, completely, about the total amount of money that you will owe them up to a few years.
Why You Should Choose Redwood Funding Group
Why we are #1:
Redwood Funding Group never charges fees in any form.
Redwood Funding group has one fixed rate of interest, 15% for every six months that you have the money.
And, Redwood Funding Group only charges you what the bank or Fed Ex charges us to send you your money.
Finally, Redwood Funding Group has a guaranteed repayment chart on the website. You can see for yourself exactly what your lawyer will be writing on the check paying us back up.