Questions to Ask
Before Getting a Loan
If you are looking into getting a lawsuit loan there are a few questions you need to look into. These loans usually offer much needed help, but you want to avoid hidden costs that could hurt you later. These loans are largely recommended for people that will have a case that will take some time to settle. Those that will have an inexpensive early settlement may not need this financing to manage their needs.
How does It Work?
A settlement loan is available to any client that is waiting on a settlement for their case. They can use lawsuit cash to help manage their finances while they wait. These loans are based on the anticipated results of the settlement. Interest and fees will be negotiated before the loan is dispersed. If the client wins, they will pay the proceeds to their lender, plus the fees and interest. If they lose they will not have to repay at all. If the settlement is lower than anticipated the client can work with their lawyer to get lower fees established.
What are These Fees?
Most of the cost of getting a loan is the interest which is charged. This will be noted up front so you can decide if these fees are reasonable. The rates on legal financing are not federally regulated so you will see a variety of offers available when you compare different companies. You may also see fees if your case takes longer to settle or processing fees which could increase the cost of your loan.
You need to think about how long it will take for you to get your settlement. If you are anticipating years before you see this money, you may find yourself strapped for cash in the meantime. Think about whether or not you have other ways of paying your bills. If you were injured or are out of work, think about your prospects of finding another job. If you believe that you have severely limited options for taking care of your legal costs and other bills, getting legal financing can help.
We can Help
We are a direct funding company with no broker fees. If you need lawsuit funding contact us and we will work to provide you with the cash you need to manage your legal obligations.
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.