What if I choose the unreliable lawsuit loan company for pre-settlement advances? This thought scares the hell out of us, doesn’t it? But don’t worry about it anymore! Today, we’ll provide you with the basic factors to consider when evaluating the best pre-settlement loan companies and a list of the best lawsuit loan companies in America.
At the end of this article, you would be in a better position to identify the reputable lawsuit loan companies from the fly by nights. Moreover, you would be able to shop for the reliable lawsuit funding company with the best terms.
Top Three factors
Let’s get started with the important factors to consider when choosing a pre-settlement funding company.
1. Interest Rate. The good lawsuit loan companies evaluate clients on a case-by-case basis. They proposed different interest rates to each client on the basis of the strength of their case.
2. Transparency. A reputable pre-settlement funding company provides substantial information about their interest rate. Develop a clear understanding of the interest rate percent being charged on pre-settlement advance before signing any paperwork.
3. Funds Transfer Duration. Some plaintiffs require immediate funds to fulfill their financial needs. Once your case is approved by the pre-settlement loan company, they will transfer the funds to you in as little as 24 hours.
Best Lawsuit Loan Companies
Tribeca Lawsuit Loan Company
On top of the list is Tribeca Lawsuit Loan Company. It is a Los Angeles based company that provides pre-settlement funding for all types of cases that includes product liability, pharmaceutical drugs, personal injury, labor law, employment law, medical devices, auto accidents, whistleblower and more importantly commercial litigations. They don’t charge any upfront fees and application fees.
Unlike other pre-settlement loan companies, Tribeca lawsuit loans companies focus on the transparency of interest rate. Once charged, the interest rate is not compounded monthly. The best part of choosing Tribeca lawsuit loans is that they offer advances on a non-recourse basis. For instance, if a plaintiff loses the case, he or she doesn’t have to pay back any advance to the company. The pre-settlement advance is all theirs to keep.
- Cash advance: You can get an immediate advance from $500 to $250,000.
- Time duration: You can receive your funding within 24 hours of the paperwork being signed.
- Types of claim covered: Tribeca lawsuit loan covers product liability, pharmaceutical drugs, personal injury, labor law, employment law, medical devices, auto accidents, whistleblower and commercial litigations.
- Key qualities: Same day processing, fast & friendly customer service, simple contract and direct lender.
Peachtree Financial Solutions
The second company on the list is Peachtree Financial Solutions. It is a Pennsylvania based company that covers various claims along with pre-settlement funding. They also focus on structured settlements, annuities and lottery wins.
They also offer non-recourse funding to the plaintiffs. Besides that, they assign one representative to one client in order to provide satisfactory customer care. A Peachtree Financial Solutions connects you with companies that may be able to provide you a fund depending on the estimated value of your legal case.
- Cash advance: They can provide you with as little as $300 to as much as $750,000
- Time duration: You can receive advance within 48 hours after the approval of your application
- Types of claim covered: Personal injury, premises liability, product liability, medical malpractice, and wrongful death.
- Key qualities: Structured settlements, more than one advance, and trained staff.
Prime Case Funding
Prime Case Funding is a New York-based pre-settlement advance company. It is one of the companies that are known for the lowest interest rates and no monthly payments.
Unlike other companies, Prime Case Funding offers post settlement lawsuit. They set their interest rate on a case-by-case basis that is compounded monthly. They also prefer to provide funding to the plaintiff within 24 hours of the application approval.
- Cash advance: Prime Case Funding can offer you an advance that varies from $500 to $1,000,000.
- Time duration: You can get cash within 24 hours once your application gets approved by the company.
- Types of claim covered: Personal injury, surgery funding, medical malpractice and civil cases
- Key qualities: Simple application process and post settlement funding.
Nova Legal Funding
Nova Legal Funding is based in Los Angeles, California. They provide non-recourse funding to the plaintiff. They have a rigorous policy of conservative underwriting that helps them to charge lower rates than the other pre-settlement companies within the industry. Besides that their assigning interest rate is directly correlated with the risk profile of each individual case.
Nova Legal Funding only funds those legal cases where a plaintiff has serious injuries and clear liabilities. Currently they are providing lawsuit loans to all states except Colorado, Maryland, and Tennessee.
- Cash advance: Their funding range is in between $500 to $ 100,000
- Time duration: If your application gets qualified for the fund, you will receive it within 24 hours of approval.
- Types of claim covered: car accidents, wrongful death, premise liability, traumatic brain damage, personal injury, medical devices, defective drugs, and athletic concussion,
- Key qualities: Faster and affordable pre-settlement funding.
Mayfield Settlement Funding
Mayfield Settlement Funding provides pre-settlement funding and post-settlement funding in all states. They manage to provide funds on the same day of application approval as their lawsuits loan processes are streamlined while providing both speedy and helpful customer service.
They act as a direct lender without the involvement of a third party. They do not charge any application fee or monthly payments. There is no substantial information about their interest rates. However, the plaintiffs pay a moderate interest rate on their advance if they win a case in court.
- Cash advance: Minimum $500 to maximum $250,000
- Time duration: Within 24 hours of application approval
- Types of claim covered: auto accidents, premises negligence, general negligence, workplace negligence, pedestrian injury, personal injury.
- Key qualities: Post settlement funding and 24/7 availability.
Law Cash is the founding member of the American Legal Finance Association (ALFA). They provide pre-settlement funding and litigation financing as a rolling contract. This enables a plaintiff to receive payout in smaller sums over a more extended period of time.
Law Cash prides itself on their transparency and ethics. They offer advances on a non-recourse basis that gives advantage to plaintiffs who do not win or settle their legal case in court as they don’t need to repay the company’s advance.
- Cash advance: They start with minimum funding of $500 and the maximum amount of funding depends on the strength of your case.
- Time duration: You can receive payment on the same day your application gets approved.
- Types of claim covered: Class action lawsuit, labor lawsuit, medical malpractice, worker’s compensation claim, and personal injury.
- Key qualities: Litigation funding and 24/7 helpline.
We hope now you have more information in your hand about different pre-settlement funding companies that can meet your financial needs at the time of pending lawsuits. Besides that, you can also do your thorough research about aforementioned lawsuit loan companies and others that are not present in the list.