- April 9, 2018
- Jeffrey A. Rubin
Texas is the second largest state in the United States by both area and population. Houston is the most populous city in Texas and the fourth largest in the U.S. San Antonio is the second-most populous in the state and seventh largest in the U.S. Dallas–Fort Worth and Greater Houston are the fourth and fifth largest metropolitan statistical areas in the country, respectively. Other major cities include Austin, the second-most populous state capital in the U.S., and El Paso. With all those people and all of those different places, people are bound to get into accidents. Due to these accident they might need accident funding or an accident loan.
When a person gets into an accident, they usually have a lot of medical bills to pay. If insurance doesn’t cover those bills those people might run into trouble. What’s more is that these same people might not be able to work because of the injuries suffered in the accident. So now one has medicals bills to pay but no money coming in. Additionally, they might have a mortgage to pay, school tuition or cell phone bills. What can this accident victim do? Well for starters he can sue the person responsible for his injuries. He might even make a lot of money in the end but the lawsuit is probably going to take several years. What are his options?
This accident victim might be relying on the monies from the lawsuit to pay all his bills. However, that money won’t be coming for several years. What can this person do?. The first place to look is to family and friends to lend him money. If that doesn’t work people might try getting a loan from a bank. However, banks won’t lend money based upon an accident case. The person might have to turn to their credit cards to pay off the bills. What does the person do if they don’t have or maxed out on their credit cards? Unfortunately, before accident funding they would probably settle their accident case. What this means it they would be taking pennys on the dollar of the worth of their case. Settle early, settle low or something like that.
Accident funding in general and Redwood Funding Group specifically was founded to address just those financial needs. The accident loans founders recognized that due to accidents people are going to have high medical and related bills. They also recognized that these same people might be out of work due to their injuries. A quick shot of money might be just the answer to the problems facing these people. Accident loan companies advance money in exchange for the money back plus interest at the end of a case. The kicker is that you don’t have to pay anything back if you lose the case. You only owe money back to these accident loan companies if you win or settle your case.
Once you know that you need an accident loan, where do you begin finding the right company for you. For most people, paying the least amount of money is the most important criteria in picking an accident loan company. Some people might like speed, some might like a friendly hello but the most important criteria is the best deal. What should you look at in deciding the best accident loan company for you. PRICE! What is the annual, not monthly, interest rate an accident funding company charges. A lot of accident loan companies advertise that they charge 3% interest. What they don’t tell you is that they mean 3% per month compounded. Compounded mean each months amount is based on the previous month. 3% monthly interest comes to about 70% a year.
Most accident funding companies charge fees. They might call it an administrative, processing or underwriting fee. They might not even call it a fee but they will charge you for something. Those fees can be anywhere from $150 to $500. These same accident funding companies will take the fee and add it upon the money you are being advanced. So you are paying interest on the money that you borrowed plus the fee. For example, if you borrowed $1,000 and the fees is $500 you owe interest on $1,500. However, you are only getting a $1,000 advance. You might not even get that $1,000.
The accident loan company won’t just rip you off with super high interest payments. They won’t just rip you off with crazy fees. What they will also do is even make money on the nickle and dime charges to send you the money. They might offer Western Union or a bank wire. What does a bank wire cost? $30, $35? They will charge you about $80 to do a bank wire and keep like $50 profit and take it our of your advance. Bottom line: your advance is costing you $1,500 and you are only getting $950. I call that robbery.
Redwood Funding Group:
Redwood Funding Group has one fixed rate of interest, 15%. That means, for every six month interval that you have our money, you owe us 15% of it. Not 3% monthly compounded or 65% a year. 15% every six months. What about fees? redwood Funding Group won’t charge you any fees in any form at any time. No fees and no compound interest sounds pretty good right? Not only that, Redwood Funding Group will charge you what the bank or Federal Express will charge to get you your money. We don’t make one penny off sending you your money. We challenge you find a cheaper legal funding company in the entire State of Texas or in the entire United States of America.