- April 2, 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!.
A Real-Life Litigation Finance Scenario:
Imagine yourself the victim of an accident. Your body aches and you have all of these physical therapy visits. Furthermore, your supervisor just told you that if you can’t come back to work you might as well quit. In the meantime, you just got your monthly mortgage bill, the internet bill just arrived and your kid needs money for books. Can litigation finance help?
Does this sound like a reasonable scenario? Of course it is and it is happening to thousands of people across this country. Bill collectors don’t take the month off just because you were in an accident. On the contrary, it seems like they are hounding you ever more.
What’s the solution? It’s late at night and you see one of these commercials for a litigation finance company. The man in the commercial says that he will advance you $1,000 almost on the spot. You need that money now. So you call the (800) number on the screen and fill out an Application over the phone to borrow $5,000. Notwithstanding the late hour, you call and leave a message for your lawyer: “Give this company whatever they ask for and get me my money fast!”.
Get Money Fast!:
In the morning you run to your lawyers office to sign the contract. The lawyer says that he’s in a rush and you should sign it with the paralegal. You sign the contract and the paralegal faxes it in to the litigation finance company. You wait for the money to land in your account. When it lands the amount is only $4,900 but you don’t care. You have the money you need and you can pay those bills.
The phone bill, the electric bill, the mortgage, the internet bill- all paid. You give some money to your kids for school books and stuff. You even have some money left over to buy that used car you’ve been thinking about. You’re left with $500 and you feel like a millionaire. You even take the kids to The Olive Garden and you buy yourself that pretty dress you thought you couldn’t afford. Things are looken good.
Your feeling a little better so you stop going to those physical therapy appointments. You forgot about the mri appointment that you had on Tuesday and you just sit at home and watch Netflix.
Some Time Later:
This goes on for a couple of months and you can’t wait to cash in on your lawsuit and so you call your lawyer. The lawyer says that he hasn’t heard from you in a while. He asks if you have been going to your appointments and you say that you’ve missed a couple and forgot about the mri visit. You order your lawyer to get money for you in a settlement and he says “I’ll call you back”.
An hour later the lawyer calls back and is talking real grim. He says that because you missed your mri appointment and stopped going to the physical therapist you are only being offered $1,500 to settle your case. Oh, and by the way, the litigation funding company called and you now owe them $8,000. It’s only been 3 months since you borrowed the money.
Reality Sets In:
Does this sound like a story that could happen? of course it does. It has happened to thousands of people across this country. We live in a “now” and “me” world. We must have our cell phones, our internet, fun now. We don’t think about what the price of “now” is.
1- Deceptively high interest rates coupled with fees that you barely knew existed
2- Monthly compound interest that after a few years costs more than your lawsuit is worth.
3- The pressure to settle for less than your case is worth because the interest on your litigation finance deal is compounding.
4- A lawyer that isn’t reading or explaining the contract to you which ends of costing you your lawsuit.
5- You have to pay back the litigation finance company so much money that you end up with nothing.
The Solutions for Litigation Finance:
1- Do not rush into anything. Ask around. Call around. Compare a few litigation finance companies.
2- Make sure that your lawyer reviews and explains everything to you so that the contract is clear.
3-Know before you sign what you will owe after 1,2,3 years
4- know the fee arrangement.
5- Sign with Redwood Funding Group.
Why Redwood Funding Group:
Look at the problems above and then look at the solutions below it. Redwood Funding Group has one fixed rate of interest. 15% of what you borrow for every six months you have the money. Period. There are no fees in any form whatsoever. The website has a guaranteed repayment schedule that tells you in black and white what you will owe up to 3 years hence. A clear simple contract will be sent to you and your lawyer to review together.
No other litigation finance company in the world has a chart telling you how much you will owe on their website. No other litigation finance company tells you their rates and fees upfront.
Finally, no litigation finance company will offer you a better deal than Redwood Funding Group. Call a few companies, ask around, then come back to Redwood Funding group and fill out an Application online or call (212) 349 2844.