- May 22, 2020
No Fees. No Compound Interest. Just 15% Fixed Every Six Months. That’s all, Guaranteed. Apply Now at Redwood Funding Group.
If you are considering a Lawsuit Loan Funding you must consider the pros and cons.
The Pros :
No Restrictions: There are no restrictions in getting an Accident Loan Funding. If you have a great case and your lawyers expect a big settlement or verdict, the skies the limit on how much you can borrow. Moreover, you can use the money you are getting for any purpose. Have a large mortgage? You can pay it with a Lawsuit Loan Funding. Need help buying a car? Use the money from an Accident Loan. There are no restrictions on the use of the money. Finally, there are no credit checks when you apply for a Lawsuit Loan Funding. Have no credit? No problem, you still qualify.
Fight the Insurance Cos: The most important reason you should get a Lawsuit Loan Funding is to help in your fight against the insurance company lawyers fighting against your case. 99% of people responsible for accidents have insurance. These insurance companies are multi billion dollars corporations. In addition, they have no concern or interest in giving you the settlement or verdict you desire. Hence, they are not looking out to help you. In opposite, they are looking to delay your lawsuit for as long as it takes.
Even the Score: Why? Because the longer the insurance company has to settle your case the more interest and other things they can do with that money. Being multi billion dollar corporations they are looking everywhere to invest their money. As long as they don’t have to pony up money for you they can invest it and make money somewhere else.
Moreover, these insurance companies run computer models which tell them how long they need to delay your case to get you to settle for pennies on the dollar. That’s right, they know that you have bills piling sky high and that you must pay them or be in the red. Therefore, they will wait out your settlement and make you sweat.
Basically, a Lawsuit Loan is a lifeline of help in a critical time of need.
“The Cons” might be a perfect way to describe getting an Accident Loan Funding. If you don’t do your homework and/or review the terms with your lawyer you can be taken to the cleaners.
The Fees: Many but not all Accident Loan Funding companies charge fees. What does that mean? It means that just to get you money, in addition to paying interest on your loan, you are going to pay a processing, application underwriting, management, closing, or handling fee. Consequently, a smart person is going to ask up front if there are fees and how much. If you don’t get a straight answer to this question the Lawsuit Loan Funding company you called may not want you to know the truth.
It is my experience, as a former Personal Injury Lawyer, fees can be as high as $500 for your loan. The biggest nightmare is that these Accident Loan Funding companies add the fee to the amount of your loan. For example, if you borrow $1,000 and the fee is $200 then you will be responsible for a $1,200 loan, plus interest.
The Interest: Many Accident Loan Funding advertise seemingly very low interest rates. These rates can be advertised as 3.99% or 4.99%. You might think that it’s a great deal. What they don’t tell you is that the interest is usually monthly compounded. Monthly compounded interest is interest on top of the interest and principal from last month. In our example of 3.99%, monthly, compounded interest comes out to about 75% a year.
Consequently, in addition to paying high fees for your advance you are also paying super high monthly compounded interest. Keep away from these companies.
Demand from every Lawsuit Loan Funding company that they answer 3 questions upfront in your first contact or telephone call with them. 1) Do they charge fees. 2) Do they compound the interest at what rate. 3) Exactly what will you owe in 1,2, & 3 years for the money you borrow. See if the Lawsuit Loan Funding company has a rate chart on their website. If they do, ask them if there are any additional fees or expenses.
Accident Loan Funding can be a very helpful friend during a very difficult time. Being injured from an accident involves hospital, chiropractic, orthopedic and sometimes surgical visits. Additionally, you have your lawsuit to fight for. The last thing you need is to get sicker worrying about how you are going to pay your bills and live.
Redwood Funding Group:
At Redwood Funding Group you will never have fees. Nothing hidden. Nothing upfront, the middle or at the end. Furthermore, there is no compound interest. The interest rate is always the same whatever amount of money that you borrow. You pay 15% of the original principal for every six months you have the money. In our example of a $1,000 loan, you pay $150 for every six months you have the money. That is it. Not a penny more. Finally, there is a guaranteed repayment chart right on our website. No Accident Loan Funding company will match or beat our rates.