- May 4, 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!.
If you have been in a car accident and have trouble paying your bills and expenses than you might need Car Accident Funding. This article will explain briefly what a Car Accident Loan is and then help you choose the Best Car Accident Loan Company for you.
What is A Car Accident Loan:
If you have been injured in an accident the first thought is to get your injuries treated. Therefore, you either have gone to the hospital or have arranged to see a doctor and possibly physical therapy. Moreover, you also want to hire a great lawyer to prosecute and sue the party responsible for your accident. Finally, there is the hope that your employer or boss will continue to pay you while you are either out sick or while you take time off to go to the doctor. More then ever before your plate is full with things to accomplish while you are physically recovering.
The visit to the emergency room probably created a bill of over $1,000. The visit or visits to the doctor also is probably over $1,000. Noteworthy, the physical therapy visits are weekly so that is going to a few hundred a week or two weeks for several months. If you have a nest egg, then maybe you have the money to pay for all of this. However, if you are like most people then being sidelined from work, you cannot pay these bills.
Enter: Accident Funding:
As a result of all the above expenses you probably need a helping hand out of your financial mess while you wait, maybe years, for your lawsuit to settle. There are tons of Great Car Accident Loan companies but only one can be the Best Car Accident Funding company. How do you find that best one? Research.
Redwood Funding Group is not telling you to be your Car Accident Loan Company. Especially relevant, you should not just settle and pick one Accident Loan company and leave it at that. Consequently, we advise that you ask any Car Accident Funding company these 3 questions and we’ll explain why:
- Do you charge fees?
- Do you monthly compound your interest?
- What exactly will I owe for the money I borrow after 1,2, and 3 years?
The Car Accident Funding Answers:
Most Car Accident Loan companies charge fees (BTW, Redwood Funding Group never charges fees but more on that later). They will call it an application, processing or underwriting fee. Whatever that means. They also might charge a handling, management or closing fee. What these Car Accident Funding companies actually do for these fees, we cannot answer. However, what we do know is that all of them will tack on the fee on top of the principal and make you responsible for interest on the combined number.
For example: If you are borrowing $1,000 and the fee is $200 then you will be responsible for paying interest on $1,200. Now do you understand why it is important to know if these Car Accident Loan companies charge fees?
Most Car Accident Loan companies charge interest. What you want to know is whether that interest is compounded and how often. If the answer is monthly compound interest you are in for a run. The 4% interest advertised or told to you most likely is 4% monthly compounded interest. That means the 4% is based on the prior months 4% and before that and before that. After a year 4% monthly interest is about 85%. You are going to pay double in 14 months! In addition, remember that this is based on the principal plus fee=$,1200 but you will only see $1,000. Or will you?
How Much Does my Accident Loan Cost?
Whomever you choose to borrow money from you have aright to know, upfront, exactly how much you will owe them after 1,2, and 3 years. In that first telephone call with any Accident Funding company we strongly advise that you ask them outright: “If I borrow $3,000 [any number] how much will I owe your company after 1,2, and 3 years?”. We predict that half the Accident Loan companies you call will not answer the question. The other half of the companies will be more expensive than Redwood Funding Group.
Now about us.
BuckeyeLF is a great Car Accident Loan Company. Covered Bridge is another great Car Accident Funding Company. Moreover Oasis Financial, Momentum Funding, Buckeye Funding, Global Funding: these are all excellent Car Accident Loan companies. But whose the best?
We think Redwood Funding Group is the best Car Accident Loan or any Accident Funding company in America. Why?
- We never charge fees in any form. Never.
- We never compound the interest. Ever. We have one fixed rate, 15% of what you borrow for every six months that you have the money. For example, if you borrow $1,000, you owe us $150 every six months. That is all.
- We are 100% confident that you will not find a cheaper Accident Funding Company that we have a guaranteed repayment schedule right on this website. No Accident Loan company in America beats the rate on that chart. Nobody.