- March 23, 2020
Redwood Funding Group never charges fees and never compounds the interest. One Fixed Rate of 15%. Borrow $1,000, You Owe $150 Every Six Months. That’s It!.
Are you an accident victim. In other words,do you have trouble paying your bills as a result of this accident? Therefore, Redwood Funding Group is your answer. We will save you thousands over other legal loan funders. Our fixed low rate of interest can help cover your rent, pay your medical bills or get you to your doctor visits. Finally, a pre settlement cash advance on the future proceeds of your litigation is a no lose decision for you. There is no credit check or intrusive questioning. All you need to do is apply here.
You or your lawyer submits a short one application herein. We request a few documents to review from your lawyer. We decide to fund you and send you a contract. Your money is sent to you. Pre settlement loans can really be that simple.
Redwood Funding Group is a unique legal loan funding company. This cash advance company was started by former personal injury lawyers. Why is this important? Consequently, it means that Redwood Funding Group knows from experience what the needs of accident victims are. How? Above all, because they were our clients. We have over 100 years of plaintiff personal injury experience among our founders. Hence, this gave Redwood Funding Group a leg up on designing a lawsuit cash advance company tailor made to your specifications.
We know that you are an accident victim. Accident victim often can’t work or can’t work as often as they used to. Similarly, this means that they might not be bringing home as much money as before the accident. For example, we set up a process where there are no fees involved. Therefore, unlike most legal loan companies nothing reduces the amount you borrowed like a fee.
Many pre settlement loan companies charge a setup, application or processing fee. This fee might be $200-$400. Additionally, they will tack on the fee to the amount of interest you are responsible for. That’s not the way to treat someone who has less money then before! Why make them have to pay interest on more than they are borrowing?
Most lawsuit cash advance companies charge compound interest. Compound interest is interest computed on the previous terms interest. If the term is one year, that might be fair. However, most legal loan companies charge monthly compound interest of 3% or 4%. Do you know what monthly compound interest of 3% is over 1 year? About 75%. That would mean double or 100% interest after 18 months.
That $1,000 loan plus the $200 fee equals responsibility for a $1,200 loan. After 18 months that interest and principal of $2,400. Remember, your loan was only $1,000. But there’s more going on here!
Wires & Fed Ex:
If you think it is not important to ask your pre settlement funder how much it costs to have the money sent by bank wire or Fed Ex you are wrong. Most lawsuit cash advance companies will charge a surcharge over the cost to them to send you your money. What’s that mean? A bank wire usually cost $30. A Priority Mail by Fed Ex usually costs $30-$35. Ask some other legal loan company what they charge for these mailings and we bet they say it depends on how much you borrow. Some companies are known to charge as high as $149 to send a bank wire.
Furthermore, the legal loan company is going to deduct that charge from the amount send to you. In our $1,000 advance example. A $149 wire charge means they are wiring you $851. A Measely $851 and you will owe $2,400 after 1 and one half years. This is highway robbery.
- Redwood Funding Group never charges fees. Nothing is added to the principal for interest purposes.
- Redwood Funding Group does not charge compound interest. Our rate is fixed at 15% for every six months you have our money. Period.
- Redwood Funding Group charges $30 for a bank wire and whatever Fed Ex charges us for the overnight. We make no profit off your money
In conclusion, when we said we are a different kind of pre settlement loan company we meant it.
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