Negotiations for structured settlements can take days or months to finalize. If you’re pursuing a personal injury case, you might be having many financial obligations to cater to due to the many economic consequences that come with physical injuries. These obligations may include medical bills, household utility bills and expenses, debt repayment, attorney fees, house repair/renovation, college fees, including others.
When all other options such as borrowing from the bank, selling your assets or borrowing from friends and family fail, you should consider applying for a pre-settlement funding.
Pre-settlement funding is basically a non-recourse loan provided by a funding company to the plaintiff as an advance on their structured settlement money.
Now there are many pre-settlement funding companies and each one of them can provide you with the cash you need as you await your case to finalize. However, since each one of them has different policies regarding these types of loans, you will have to find one that best suits your needs.
We have reviewed 5 best pre-settlement funding companies to help you make a more informed decision.
1. Prime Case Funding
With an impressive Better Business Bureau Rating of A+, Prime Case Funding really does deliver on its promises.
This pre-settlement funding company offers a quick-turnaround on no-risk loans to plaintiffs awaiting the finalization of their structured settlement negotiations.
The company can issue pre-settlement funding between $500 to $1, 000, 000 or even more depending on your total settlement amount and your financial needs. In just less than 24 hours, you will have some cash in your account.
It offers some of the lowest rates on the market.
The good news is that even if you lose the case, the company won’t demand a refund.
All you have to do is make a call and one of their friendly representatives will take you through their simple and straightforward process.
2. Oasis Financial
Based in Illinois and operating since 2003, Oasis Financial is another reputable pre-settlement funding company offering non-recourse loans to clients who need immediate cash and boasts of a BBB accreditation with an A rating.
The company offers loans covering a wide range of lawsuit cases including personal injury, civil lawsuits, wrongful death, auto accidents, medical malpractice, product liability, and many more.
Oasis Financial promises to offer loans between 10 and 15 percent of the total future settlement payout. They determine the total cost of your loan by considering factors such as the size of loan you want, the type of case, the state laws, including others.
If you want to know the total cost of your loan, all you have to do is submit the necessary details and their highly qualified representatives will provide you with an overview.
The company makes the process pretty easy and once approved, the payments are made within 48 hours or less.
For more information, you can visit their professional looking and easy to navigate website.
3. Lawsuit Cash
With a 12-year track record as a pre-settlement funding provider, Lawsuit Cash is an ideal option when other options have failed.
Lawsuit Cash is your go-to company when facing financial challenges as you await your case settlement to be available. This company only offers loans to personal injury victims awaiting a structured settlement of a pending lawsuit.
Just like many other funding companies, the loan rate is based on factors such as type of case, size of loan, case duration, risk of settlement, including others.
The company has an impressive BBB record, boasting of an A+ rating. The process of acquiring a loan is easy and straightforward.
4. Law Capital
This Washington-based pre-settlement funding company has been in business for about 12 years and continues to offer super-fast loans with low rates. Their loans range between $500 to $1, 000, 000 and covers lawsuit cases related to personal injury, wrongful death, and worker’s compensation.
In as little as 24 hours, you can have a lump-sum in your pockets. No lengthy procedures are involved. Better still, the company doesn’t consider your credit score or ask for collateral to offer you the loan.
Over the years, the company has managed to earn an impressive BBB rating of A+, meaning it’s a company you can trust to offer you a loan to sort out your immediate financial woes until the negotiations are finalized.
Their website is pretty easy to navigate and provides a lot of useful information regarding pre-settlement loans.
5. Lawsuit Funding
Lawsuit Funding is a California-based pre-settlement funding company that has been offering non-recourse cash advances to clients awaiting the negotiations of their structured settlement cases to be finalized. The company has been in operation since 2001.
After the company approves your application, the process is easy and you will have your cash in as little as 24 hours.
On the flipside, the company is not an accredited BBB company. All in all though, it does a great job providing plaintiffs with immediate cash to sort out their financial obligations.