- May 7, 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!.
Morgan and Morgan:
Morgan and Morgan is one of the biggest and best law firms in the country. They will work hard for you and get you the money you deserve. However, if you were injured in an accident Morgan and Morgan will not and cannot lend you the money you might need. Consequently, you might want to consider Legal Funding.
If you hired Morgan and Morgan as your lawyers, like every lawsuit, it can take time. During this time you may or may not be out of work due to the accident. However, you still have the same bills coming in. You have rent, electric and internet bills. You will have phone bills, food bills and maybe something for school you might owe. Needless, you might also have doctor and hospital bills you owe. How are you going to pay for it?
You might be able to borrow from the bank or you might be able to use your credit cards. Furthermore, you might have some money stashed under your mattress. However, if you don’t have those options you will need to get an advance called Legal Funding.
Legal Funding is an advance, not a loan, at the start of your lawsuit that you don’t have to pay back unless you win or settle your lawsuit. You heard it correctly: if you lose you don’t have to pay back anything. However, if and when you win or settle you pay back what you borrowed plus interest.
Fees For Legal Funding:
If you are getting Legal Funding than you have many different Legal Funding companies to choose from. BuckeyeLF, Oasis Financial, Global Funding, Momentum Funding, Covered Bridge Funding, these are some of the bigger players in the Lawsuit Funding field. Nevertheless, many funders are expensive and charge you money in several different ways.
There are several types of fees being charged by Lawsuit Funding companies. Application, Underwriting and Opening fees. Furthermore, Management, Processing and Closing fees. These fees can vary depending upon the amount of money you are borrowing. The more you borrow the more you are paying in a fee. Additionally, these Legal Funding companies are going to add the fees to the principal amount you are borrowing. For example, if you are borrowing $1,000 and the fee is $250 then you are going to be responsible for a $1,250 loan. Redwood Funding Group never charges fees in any form.
Interest For Legal Funding:
Almost all Legal Funding companies charge interest. The most important thing to remember is how they charge this interest. Is the interest fixed? is it compound and how is it compounded?
Compound interest is based upon the total of the previous period. Something like monthly compound interest means you are paying interest based upon the amount owed in the previous month. Month after month for a year it comes out to a lot of money. For example, you might think the advertised 4% interest is a great deal. Needless to say 4% monthly compounded interest is about 85% a year. that’s double in 14 months. BTW, Redwood Funding Group charges one fixed rate: 15% of the original principal for each six months you have the money.
For example, if you borrow $1,000 you only pay $150 for each six months that you have the money. No fees. No compounding. Cheap, Easy Legal Funding.
Incidentals for Lawsuit Funding:
After you pay thru the nose for fees and the compound interest, many many companies “overcharge” you to send you your money. Consequently, many of you know a bank wire costs about $30. We have personally seen Legal Funding charges for a bank wire as high as $149!. That means after taking fees, after compounding interest you are now being charged a premium for a bank wire. Crazy?
Redwood Funding Group:
Redwood Funding Group is the cheapest Legal Funding company in America. We never charge any fees and never compound our interest. Just one fixed rate: 15% of the original principle for each six months that you have the money. We are so confident that we have the cheapest Legal Funding rates in the country that we put a guaranteed repayment chart right on our website.
We challenge you to find a cheaper Legal Funding anywhere. If your law firm is Morgan and Morgan, please consider using Redwood Funding Group for your financial needs.