How long have you been in the business?
A lawsuit funding company would need to be well established as well as experienced to handle lawsuits effectively. As such, you need to check the company’s website to determine its age and expertise, as well as reviews posted by other customers before taking a decision.
What are the rates you ask for lawsuit funding?
Companies offering legal financial solutions would vary in their funding rates depending on factors like the case strength and history, the amount of risk and the loan amount. Ask the lawsuit funding company about the rates it would charge you on its lawsuit cash advanced. Check this rate with the rates offered by other companies and ask for a competitive price that would suit both parties.
Do you charge broker fees?
Some companies tend to charge broker fees additionally (as they would not be the original lender) which can turn out to be very expensive for you. So, make sure you check whether the lawsuit funding company you opt for charges broker fees. This would prevent unnecessary hassles later on.
When do I need to repay the loan amount?
In most cases, the lawsuit funding company should provide funds based on a non-recourse basis. This means you would need to repay the company only if you win the case. As such, the company should not charge you any monthly repayments during this period.
Which states do you operate in?
Certain companies offering legal financial solutions do not operate nationwide. So, ask the company about the states they operate in and check if your state appears in this list. This would prevent unnecessary hassles later on.
Can you provide references?
In addition to reading website reviews, you can ask a company offering legal financial solutions to provide references in the form of previous clients and happy customers. The company must be more than willing to give you at least a few contacts to speak to. If it hesitates in doing so, move over to another lawsuit funding company.
Call Us Today 866-WE-FUND-U / 866.933.8638
About the author
Michael Smith is the Customer Experience Director at 911 Lawsuit Loans LLC and is responsible for client relations throughout the funding.